The Future of Healthcare: eHealth Stocks to Watch in 2021
In recent years, the healthcare industry has witnessed a significant shift towards digital technologies. The rise of eHealth – the use of technology to support healthcare – is gaining momentum globally. With the COVID-19 pandemic accelerating the need for remote healthcare services, eHealth adoption is expected to grow at a faster pace. According to a report by Mordor Intelligence, the global eHealth market is expected to reach $310 billion by 2026, growing at a CAGR of 21%.
This article will explore the eHealth stocks to watch in 2021, with keen interest on companies that are well-positioned to benefit from the rise of eHealth.
Teladoc Health Inc. (TDOC)
Teladoc Health is a leading telehealth company that connects patients with medical practitioners via video conferencing. The company provides a vast array of telehealth services, including behavioral health, dermatology, and chronic care management. In 2020, Teladoc reported a 109% YoY revenue growth, reflecting a surge in demand for its services during the pandemic.
With the growing acceptance of telehealth among patients, Teladoc is well-positioned to benefit from the rapid growth of the eHealth industry.
Livongo Health Inc. (LVGO)
Livongo Health is a digital health platform that provides remote monitoring, coaching, and disease management services to patients with chronic conditions. The company’s AI-powered platform delivers personalized insights and real-time support to help patients manage their conditions better.
In 2020, Teladoc announced that it would acquire Livongo in a $18.5 billion deal, marking one of the most extensive telehealth acquisitions to date. The acquisition is expected to create a more comprehensive virtual care platform that will cater to a broader range of conditions.
Cerner Corporation (CERN)
Cerner is an information technology company that provides digital solutions to the healthcare industry. The company’s electronic health records (EHR) platform enables healthcare providers to manage patient health data effectively. With EHR adoption growing at a steady pace globally, Cerner is well-positioned to benefit from the digitization of healthcare services.
Moreover, Cerner’s collaboration with Amazon Web Services (AWS) to develop a cloud-based health platform is expected to fuel its growth further.
Conclusion
The eHealth industry is poised for exponential growth as more healthcare providers embrace digital technologies. With the rise of telehealth, remote monitoring, and EHRs, companies that are well-positioned to leverage this trend are set to grow significantly. Teladoc Health, Livongo Health, and Cerner are among the eHealth stocks to watch in 2021. As the demand for eHealth services grows, investors can expect to realize significant returns from these companies.
(Note: Do you have knowledge or insights to share? Unlock new opportunities and expand your reach by joining our authors team. Click Registration to join us and share your expertise with our readers.)
Speech tips:
Please note that any statements involving politics will not be approved.