The Fed’s aggressive rate hikes to curb the stubbornly high inflation have plagued the economy for some time. But on the flip side, the medical industry, which thrived during the pandemic years, is envisioned to remain buoyed amid volatilities, thanks to rapid technological advancements, rising healthcare awareness among the population, and government support.
Over the past year, the Health Care Select Sector SPDR ETF (XLV) has gained 2.6%, outpacing the S&P 500, which lost 7.8%. In addition, the global healthcare services market is projected to grow at a 9% CAGR to reach $18.98 trillion by 2028.
