The pandemic has increased awareness of the importance of healthcare resources, and has led to steep increases in the valuations of many listed companies in the sector.
Even before the pandemic, healthcare companies were already catching investors’ attention. The sector is supported by strong fundamentals, such as an ageing population globally and a growing middle class, particularly in Asia.
Dr Jonathan Seah, executive chairman of holistic wellness firm LifeHub, says that healthcare spending is likely to be further boosted by growth in what he describes as the “consumerisation of medical knowledge,” as people look for ways to improve their health.
The sector is also set to be a beneficiary of the application of new technologies such as artificial intelligence, big data and robotics.
As a result, Patrick Ho, chief market strategist, North Asia at HSBC Private Banking, thinks the health technology sector will offer structural growth opportunities in the next five to ten years.
“Once you have the data, there are any number of ways you can leverage it to live a better life”
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