Bring your portfolio to life with CSL and these stellar ASX healthcare shares

CSL Limited (ASX:CSL) shares are one of three that I think could be the best in the healthcare sector right now and great buy and hold options…

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Due to favourable tailwinds such as ageing populations, improvements in treatments, and increased chronic disease burden, I believe the healthcare sector is a great place to consider making a buy and hold investment.

Whilst there are a lot of quality options in the sector right now, three of my favourites are listed below. Here's why I think they could be in the buy zone:

CSL Limited (ASX: CSL)

I think this global biotherapeutics company is arguably the best healthcare share on the Australian market and a great buy and hold option. Thanks to the quality of CSL's portfolio, its growing plasma collection network, and the company's material investment in research and development, I believe it is well-positioned to continue delivering above-average earnings growth over the next few years.

Nanosonics Ltd (ASX: NAN)

Another top healthcare share to consider is this infection control specialist. Nanosonics is the company behind the popular trophon EPR product, which is a best in class disinfection system for ultrasound probes. As of its last update, Nanosonics had an installed base of 19,310 units, up 20% on the prior corresponding period. Whilst this is a large number, it is still only scratching at the surface of its addressable market of 120,000 units. Due to the quality of the product, I expect more market share gains in the future, underpinning strong earnings growth which is likely to be supported by the launch of new products.

ResMed Inc (ASX: RMD)

ResMed is a medical device giant focused on creating innovative solutions that treat and keep people out of the hospital. The company aims to achieve this through its portfolio of cloud-connected devices which care for people with sleep apnoea, chronic obstructive pulmonary disease, and other chronic diseases. Due to the quality of its products and the growing addressable market, I believe ResMed is well-positioned to continue being a market beater over the next decade.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Nanosonics Limited. The Motley Fool Australia has recommended ResMed Inc. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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