The ASX hosts numerous healthcare companies that have outperformed for years.
And some of those companies have enjoyed success far beyond local markets to become leading global players in their fields.
Let's look at 3 top-performing ASX healthcare shares.
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CSL Ltd (ASX: CSL)
With a market cap of around $117 billion, CSL is one of the largest biotech firms in the world.
With major operations in the US and Europe, Melbourne-based CSL generates the bulk of its revenue offshore.
It specialises in plasma-derived therapies and vaccines through its CSL Behring and Seqirus divisions.
Back in June 2020, CSL shares were changing hands at around $287 each.
Today, CSL shares are trading at $240.85, having lost 16% over the past 5 years.
In fact, the company's share price has dropped by about 16% over the past year alone.
As such, CSL's 12-month forward P/E ratio is now below its 10-year average of about 31x earnings.
For those looking to buy shares in one the ASX's top performing companies, now could prove to be a good time to get in.
ResMed Inc (ASX: RMD)
ResMed has risen to become a global leader in cloud-connected devices for sleep apnea and respiratory care.
It now has operations spanning more than 140 countries as it executes on its vision to help millions of people who suffer from sleep disorders.
It's estimated that 1 billion people suffer from sleep apnea worldwide, with approximately 80% of cases undiagnosed and untreated.
And ResMed continues to make ground in that market.
In its latest quarterly results, ResMed reported an 8% increase in revenue to US$1.3 billion.
ResMed shares were recently upgraded to a buy rating with a $46.50 price target by Ord Minnett.
Pro Medicus Ltd (ASX: PME)
With operations in North America, Europe, and Australia, Pro Medicus has risen to become a major player in the health imaging space.
In its latest half-year results, the company announced a net profit of $51.7 million, up 43% on the prior corresponding period.
Pro Medicus shares are currently trading at $279.35 each, up 118% over the past year.
The company looks well placed to continue to deliver strong returns.
Pro Medicus has enjoyed a series of contract wins this year as its flagship product, Visage 7, is increasingly rolled out by hospitals and radiology providers.
So far this year, Pro Medicus has announced more than $100 million in multi-year contracts with hospitals and universities in North America.
