Inflationary pressure continues to weigh on the economy. The September Consumer Price Index (CPI) increased 8.2% year-over-year, beating estimates. And the Fed’s quest to bring down inflation with aggressive rate hikes is increasing recession worries.
Medical stocks tend to help investors hedge against economic downturns. Demand for medical services remains stable despite economic turbulence. Till 2021, the total global pharmaceutical market was valued at about $1.42 trillion. Moreover, an aging population and rising chronic diseases should continue to boost demand in the coming years.
