There's more to the ASX than just banks and miners.
And some companies are having a big impact on a global scale.
Here, we look at three ASX healthcare giants that are global leaders in terms of both innovation and market share.
CSL Ltd (ASX: CSL)
CSL is Australia's largest biotech company, with operations in more than 60 countries and a market cap of around $116 billion.
The company is a global leader in plasma-derived therapies and influenza vaccines.
CSL controls about 30% of plasma collection centres globally.
And, together with its closest rivals, Grifols and Takeda, the trio enjoys the benefits of an oligopoly.
CSL's Seqirus division is one of the world's largest influenza vaccine companies.
That segment formed when CSL acquired Novartis' influenza vaccine business and combined it with its vaccine subsidiary, bioCSL.
With CSL shares down about 18% over the past year, now could be a good time to examine the leading biotech company.
ResMed Inc (ASX: RMD)
ResMed is a major player in the sleep and respiratory care space.
It's estimated that 1 billion people suffer from sleep apnea worldwide, with approximately 80% of cases undiagnosed and untreated.
With its cloud-connected devices for sleep apnea and respiratory care, RedMed is addressing that huge market and leading the way.
It's estimated that ResMed commands around 60% of the market for continuous positive airway pressure machines.
ResMed's closest competitor, Philips Respironics, has struggled with product recalls, creating an opportunity for ResMed to consolidate its leadership position.
As such, ResMed is well placed to continue to dominate in its market.
The company is positioned for continued earnings growth and enjoys a solid balance sheet.
With a range of sticky products, recurring revenue streams, a strong moat, and a significant addressable market, ResMed could continue to deliver strong returns for many years.
Cochlear Ltd (ASX: COH)
Cochlear is the global leader in implantable hearing solutions.
It's estimated that Cochlear controls approximately 60% of the global hearing implant market.
As such, the ASX company enjoys a commanding lead over its nearest competitor, Advanced Bionics, which is part of Sonova.
Cochlear implants are used in over 100 countries by more than 700,000 people.
Back in February 2024, Cochlear shares were trading at about $350 each.
Today, Cochlear shares are changing hands for about $288 each, having lost about 18% in a year and a half.
Foolish Takeaway
You don't need to look abroad to find great companies with international reach in which to invest.
The ASX is home to numerous global leaders.
While CSL, ResMed, and Cochlear have become global success stories, many more are on the cusp of following in their footsteps.
