When it comes to buy and hold investments I think the healthcare sector is one of the best places to start looking for ideas.
Due to technological developments, ageing populations, and increased chronic disease burden, I believe demand for healthcare services will grow strongly over the next couple of decades.
In light of this, here are three healthcare shares worth considering as long-term buy and hold investments:
Nanosonics Ltd. (ASX: NAN)
This infection control specialist's trophon EPR product has been growing in popularity for a number of years thanks to being environmentally-friendly, regarded as the best in its class, and wholly effective at disinfecting ultrasound probes. Despite its rapid growth it still only has a 12% share of the global addressable market. I expect the product has the potential to win a much greater share of the market over the next decade, leading to above-average earnings growth.
Ramsay Health Care Limited (ASX: RHC)
This private hospital operator could be another great buy and hold investment option. Due to the aforementioned tailwinds being experienced in the healthcare sector, I expect Ramsay to deliver strong organic earnings growth for at least the next ten years. But as well as this, Ramsay has the option to accelerate its growth through brownfield expansions and acquisitions.
Volpara Health Technologies Ltd (ASX: VHT)
Volpara is a digital health company which I think could have a bright future ahead of it. Its technology enables personalised, high-quality breast cancer screening based on automated, objective measurements of breast density, compression and radiation dose. The company recently revealed that annual recurring revenues have grown 138% on the prior corresponding period to NZ$2.6 million. Management is confident this will accelerate and expects to meet or exceed its 200% target for the full year.
