The healthcare and biotech sectors are set to regain investor interest in 2024 due to long-term growth prospects, aided by structural drivers such as ageing populations and rising healthcare expenditure.
Healthcare now contributes 10.2% of global GDP, with annual spending expected to reach $14 trillion by 2030.
Previously overshadowed by technology, healthcare is now viewed as undervalued following small-cap underperformance last year.
Anteris Technologies Global Corp (ASX:AVR, OTC:AMEUF) is advancing its DurAVR® Transcatheter Heart Valve to treat severe aortic stenosis, supported by an $88.8 million Nasdaq IPO to fund further development and clinical trials.
Recce Pharmaceuticals Ltd (ASX:RCE, OTC:RECEF) is focused on synthetic anti-infectives targeting antibiotic-resistant bacteria and viral infections. Its flagship candidate, RECCE® 327, has received approval for a Phase 3 trial in Indonesia for diabetic foot infections, opening commercial avenues in the ASEAN region.
Tryptamine Therapeutics Ltd (ASX:TYP, OTC:TYPTF) develops psilocin-based treatments for neuropsychiatric disorders. Interim results from a Phase 2A trial show potential for addressing Irritable Bowel Syndrome.
Orthocell Ltd (ASX:OCC, OTC:ORHHF) targets regenerative medicine, with approved products such as Remplir™ for nerve repair and Striate Plus™ for dental applications. The company aims to expand into the US and other global markets.
Lumos Diagnostics Holdings Ltd (ASX:LDX, OTC:LDXHF) specialises in rapid diagnostic tests. Its products, FebriDx® and ViraDx™, have received FDA approval, with ongoing efforts to expand within women’s health diagnostics.