With populations around the world getting older, demand for healthcare services is expected to grow materially over the next couple of decades.
In light of this, I think the healthcare sector is a great place to look for long term investment options.
Two quality ASX healthcare shares that tick a lot of boxes for me are listed below. Here's why I think they could be great options:
iShares Global Healthcare ETF (ASX: IXJ)
The first healthcare option for investors to consider is actually an exchange traded fund (ETF). I think the iShares Global Healthcare ETF would be a fantastic option due to the large number of quality companies that it is invested in. It provides investors with exposure to healthcare companies across a range of sectors including biotechnology, pharmaceutical, and medical devices.
This means investors will be investing in many of the world's biggest healthcare companies such as CSL Limited (ASX: CSL), Johnson & Johnson, Novartis, and Pfizer. I believe this group of companies has the potential to outperform the market over the long term thanks to the favourable industry tailwinds. As a result, I feel the iShares Global Healthcare ETF could be a great long term option.
Ramsay Health Care Limited (ASX: RHC)
Another option for investors to consider buying is Ramsay Health Care. This private hospital operator has been facing tough trading conditions for a couple of years and things are unlikely to get easier in the immediate term. But I wouldn't let that put you off investing with a long term view. Especially given how this appears to have already being factored into the Ramsay share price.
I believe Ramsay's long term outlook is very positive. This is due to the aforementioned forecasted increase in demand for healthcare services and its global footprint. Another positive is that Ramsay's management team has a track record of accelerating its growth through acquisitions. I suspect there will be further acquisitions in the coming years that expand its footprint into new markets and drive further growth.
