The aging population is proving to be a boon for healthcare stocks tailored to the needs of seniors, such as those involved in pharmaceuticals, medical devices, and healthcare services. For investors, now is an opportune time to scoop up the shares of fundamentally strong companies such as Thermo Fisher Scientific Inc. (TMO), Pfizer Inc. (PFE), and Elevance Health, Inc. (ELV), which are well-positioned to benefit from increased demand for specialized healthcare services and products.
With the global market for elder care services and assistive devices is projected to reach $1.1 trillion by 2029, exhibiting a CAGR of 5.8%, and the World Health Organisation (WHO) forecasting that the proportion of people over the age of 60 will nearly double by 2050, the demand for specialized healthcare is surging.
