The healthcare sector is one of the largest in the U.S. economy, making up close to 20% of the GDP. Even before the pandemic, an aging Baby Boomer population was driving demand in the sector. The pandemic has only added to this demand through the increased need for medical equipment, such as therapeutics and pharmaceutical drugs for the treatment of COVID-19.
The pandemic also unleashed what looks like a golden age for biotech companies. While tech companies benefited from the pandemic’s stay-at-home protocols, biotech firms are benefiting from the urgency to create treatments and vaccines. This has led to scientific advances that are not only applicable for the virus but for the treatment and prevention of other diseases, like diabetes and cancer.
Discover more about the healthcare sector and five healthcare stocks to buy in 2022
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