One area of the market which I think has strong long-term growth potential is the healthcare sector.
Thanks to ageing populations and increased chronic disease burden, demand for healthcare services is expected to grow strongly over the next two decades.
This could make the sector a great place to make a buy and hold investment.
Here are three top shares that I would consider buying:
Cochlear Limited (ASX: COH)
As the global population grows older I believe this hearing solutions company will benefit from increasing demand for its products. This demand, and its industry-leading products, could put Cochlear in a position to continue delivering above-average profit growth for a long time to come. Its shares may have been on a tear over the last 12 months, but I believe they are still good value for patient buy and hold investors.
CSL Limited (ASX: CSL)
I think that this biotherapeutics company's outstanding half-year result in February showed investors why it is regarded as one of the highest quality companies in Australia. As well as that, I believe the result demonstrated the significant potential of its fledgling Seqirus influenza business. All in all, I believe the emergence of Seqirus should support the growth being exhibited by its core business, allowing for solid profit growth over the coming years.
Pro Medicus Limited (ASX: PME)
I believe the health imaging IT provider's Visage 7 technology has enormous potential. Visage 7 allows radiologists and physicians to visually assess a patient's complete imaging history, along with the flexibility to access, finely choreograph, and immediately display any combination of imaging components. The technology has been attracting a lot of interest from some major players in the healthcare sector, which I believe is a testament to the product's quality.
