One area of the market that I'm especially bullish on over the long-term is the healthcare sector.
I believe this area of the market is well positioned to grow strongly over the next decade or two due to growing demand for healthcare services and the emergence of new technologies.
Three healthcare shares that I think could make great long-term investments are as follows:
CSL Limited (ASX: CSL)
CSL Limited is one of the world's leading biopharmaceutical companies. Over the last decade the company has consistently grown its sales and earnings at a strong rate thanks to its core business and ever-expanding portfolio of lucrative products. I don't expect this to change any time soon and believe it would be a fantastic share to buy and hold.
ResMed Inc. (ASX: RMD)
Another top option in the healthcare sector in my opinion is ResMed. It is a medical device company with a focus on the sleep treatment market. Like CSL, it has a long track record of generating solid earnings growth and creating wealth for its shareholders. Pleasingly, due to its leading products, wide distribution, and growing market, I believe the company is well-positioned to continue this trend for a long time to come.
Volpara Health Technologies Ltd (ASX: VHT)
Volpara Health Technologies has been growing at an explosive rate over the last 18 months thanks to its popular breast imaging analytics and analysis software. In its recent half year results management advised that 5.4% of women being screened (2.1 million) in the United States are now being actively analysed by a Volpara product. This is expected to grow to 9% by the end of the financial year. Importantly, with much of its breast imaging analytics data flowing to the cloud, the company now has one of the biggest cross-vendor data sets in mammography. Management believes this is a powerful asset not only for finding key insights to help detect breast cancer early but also for developing new products that can help increase its average price per patient.
