The Fed’s aggressive rate hikes to curb sky-high inflation have created market volatility. The S&P 500 index is down about 20% this year. Despite market uncertainties, medical stocks tend to perform relatively well due to the inelastic demand for medical products and services.
In addition, the Centers for Medicare & Medicaid Services (CMS) predicts healthcare spending in the United States to reach $6.20 trillion by 2028, growing at a 5.4% CAGR.
