The medical world is at a tipping point...
For decades, people marveled over the life-changing medical procedures that saved the main characters in science fiction films... things that weren't possible in the real world. Lots of us probably thought we'd never see such incredible technology in our lifetimes.
But today, sci-fi is reality. Just think of some of these technological advancements...
- A device indistinguishable from a wristwatch can monitor a dozen signals and assemble a real-time picture of your health so complete that it can diagnose and even predict a heart attack.
- A doctor repairing a human liver using lab-grown cells.
- A computer flipping through thousands of images every day and identifying cancer more accurately than any doctor.
- Artificial intelligence ("AI") that helps doctors review mammograms 30 times faster with 99% accuracy, reducing the need for unnecessary biopsies for breast cancer patients.
- Or AI overseeing early-stage heart disease, allowing doctors to discover life-threatening problems at earlier and more treatable stages.
These things won't just be possible in 10 or 20 years. They are all happening today.
The best part: this is just the beginning... Medical technologies will advance at an exponential rate.
The truth is that we have far more knowledge than any human doctor can keep up with. Health care produces 2.3 trillion gigabytes of data every year. It's expected to double in the next three years.
The biomedical research database PubMed now contains more than 34 million scholarly articles, with more than a million added each year.
A unique combination of technology, drug development, genetic understanding, massive new private investment, and government funding is on the verge of forever changing our quality of life.
Of course, the COVID-19 pandemic accelerated this trend. Money has been pouring into research ever since the COVID-19 vaccine was developed in less than a year – something that typically takes years.
Total global spending on pharmaceutical research and development went from $137 billion in 2012 to more than $200 billion last year.
Spending could top $250 billion by 2026.
The boom in health care is also just a matter of demographics. Our country is getting older – there's no way around it.
In the U.S., 22% of the population is over the age of 65. That's up from 12.4% in 2000 and 13.1% in 2010.
The older you get, the more you pay for health care... The average 65-year-old American pays $11,300 every year for health care. This is nearly triple what folks in their 20s and 30s are paying.
Every single one of us is a health care customer. We need it in good economic times and bad. That's why health care is often viewed as a defensive sector... and that's just the type of investment we want to make today with the economy in turmoil.
Health care has proven itself this year... While the market is down about 16% this year, health care is only down 2%. Take a look...
If you haven't been following me lately, I've gone "all-in" on health care over the past few months.
This is by far the biggest call of my 40-year career. It's so obvious to me that health care is undergoing a transformation – one that I believe will mint millionaires in the years to come.
Investors could see quadruple-digit gains in the best opportunities... plus steady 20%-per-year growth in the lowest-risk stocks.
If you want to learn more about my prediction about the health care industry, and how to make some of these life-changing gains, click here.
What We're Reading...
- Something different: Hawaii's Mauna Loa volcano begins eruption.
Here's to our health, wealth, and a great retirement,
Dr. David Eifrig and the Health & Wealth Bulletin Research Team
November 30, 2022