3 outstanding ASX healthcare shares to bring your portfolio to life

Nanosonics Ltd (ASX:NAN) shares are one of three in the healthcare sector that I think could give your portfolio a major lift…

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If you're looking for quality buy and hold options, then I think the healthcare sector is a great place to look due to its favourable long-term outlook thanks to the ever-increasing demand for healthcare services.

Three of the best shares in the sector in my view are listed below. Here's why I would buy and hold them:

CSL Limited (ASX: CSL)

This biotherapeutics giant could be one of the best buy and hold options on the local market due to the quality and strength of its CSL Behring and Seqirus businesses. The Seqirus business is the second biggest influenza vaccines company globally and the core CSL Behring is the global leader in plasma therapies. In FY 2019 CSL Behring reported an 11% jump in total revenue to US$7,343 million and the Seqirus business posted a 12% increase in total revenue to US$1,196 million. Due to increasing demand, the quality of its products, and its lucrative development pipeline, I expect more of the same in FY 2020 and beyond.

Nanosonics Ltd (ASX: NAN)

I think this leading infection control specialist could be a great buy and hold healthcare investment option. Its industry-leading trophon EPR disinfection system for ultrasound probes has a massive global market opportunity, which should drive strong sales of both the product and the consumables that it requires. In addition to this, the company intends to release a number of new products targeting unmet needs in the near future. If these are only half as successful as trophon EPR, it bodes well for Nanosonics' long term growth.

ResMed Inc. (ASX: RMD)

Over the last 10 years ResMed has delivered impressive sales and earnings growth thanks to strong demand for its industry-leading products in the fast-growing sleep treatment market. The good news is that it appears to still have a significant runway for growth as management estimates that a large majority of sleep apnoea sufferers are yet to be diagnosed. I feel this could put the company in a position to continue generating strong returns for investors long into the future.

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. and Nanosonics Limited. The Motley Fool Australia has recommended Nanosonics Limited and 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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