A labor shortage in the healthcare industry is expected to persist for the foreseeable future. However, rising health consciousness and the resurgence of COVID-19 cases in several states have been driving the demand for healthcare solutions. Furthermore, the sector is expected to witness a consistent increase in demand from an aging population. Investors’ interest in the healthcare industry is evident in the Health Care Select Sector SPDR’s (XLV) 3.7% returns over the past three months.
Advancements in healthcare research and development are also driving the industry's growth amid increased health awareness. The demand for accurate diagnoses and treatment continues to surge with lifestyle changes. In addition, the online home healthcare sector is booming, owing to the sheer convenience its offers. According to Report Linker, the global home healthcare services market is projected to grow at a 10.8% CAGR from 2022 to 2026.
