Prostate cancer drug Darzalex, psoriasis and psoriatic arthritis drug Tremfya, and pulmonary hypertension drug Opsumit stand out as especially important growth drivers for the company. This move will position the company to deliver stronger growth with its pharmaceutical and medical device segments. The company plans to spin off its consumer health unit by November 2023. J&J’s business will change significantly in the not-too-distant future. In addition, the company markets a wide range of medical devices. It also sells pharmaceuticals, including the cancer drug Imbruvica and the anti-inflammatory drug Stelara. J&J’s products include well-known consumer brands such as Band-Aid and Tylenol. There’s arguably no better bellwether in the healthcare sector than Johnson & Johnson, which is the biggest life sciences company in the world. However, Intuitive’s big head start and extensive track record of success should give the company a significant competitive advantage over its rivals. Big companies, including Johnson & Johnson, Medtronic ( NYSE:MDT ), and Stryker ( NYSE:SYK ), have entered the robotic surgical systems market, as have smaller companies such as Asensus Surgical ( NYSEMKT:ASXC ), Globus Medical ( NYSE:GMED ), and Titan Medical ( NASDAQ:TMDI ). ![]() Intuitive faces more competition now than it has in the past. The company believes that new systems in development and regulatory clearances potentially on the way could increase its addressable market for soft-tissue surgeries from around 6 million procedures per year to almost 20 million. More than 6,500 of the systems are installed across the globe.Īging demographic trends should serve as a significant tailwind for Intuitive in the coming years as the baby boom generation requires more surgeries.Īn even more important growth driver for Intuitive Surgical, though, is innovation. Its da Vinci systems have been used in more than 10 million procedures so far. Intuitive Surgical pioneered the robotic surgical systems market more than two decades ago. The company has paid a dividend every quarter since 1924 and has increased its dividend for 50 consecutive years. Income investors especially like Abbott, which is a Dividend King. Although testing volumes can be expected to decline at some point, the emergence of new coronavirus strains could boost future demand. Abbott also has several other products in its lineup that are enjoying solid sales momentum such as its MitraClip heart valve devices.Ībbott's COVID-19 diagnostic tests have become another important part of the company’s business. New versions of the CGM device are proving to be tremendously popular with individuals seeking to better manage their diabetes. The company markets diagnostics, medical devices, nutrition products, and pharmaceutical drugs.Ī key growth driver for Abbott is its FreeStyle Libre continuous glucose monitoring (CGM) system. These five large-cap stocks in the industry are worth watching:Ībbott Laboratories’ business stretches across several areas of life sciences. Life sciences stocks can generate fantastic long-term returns. Five life sciences stocks to watch in 2023 The value of the global pharmaceutical market alone tops $1.3 trillion, and the worldwide market for life sciences tools alone (including chemical reagents and instruments) is valued at roughly $50 billion. Biological products (those made from living organisms)īecause of the diversity of companies in the life sciences industry, the size of the total market is not well-defined.These companies develop and market products including: Such a broad definition means that a wide range of companies fits into the life sciences category. Life sciences also encompasses biochemistry, biotechnology, botany, neuroscience, physiology, zoology, and more. Life sciences is the study of living organisms, but it’s not limited to just biology. Life sciences companies also have made many shareholders wealthy along the way. ![]() ![]() COVID-19 vaccines, cancer immunotherapies, glucose monitors, and pacemakers - what do these have in common? All were developed by life sciences companies, many of which have achieved tremendous scientific breakthroughs.
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