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The sector has enormous potential to grow next year thanks to technological advancements and the growing need for improved healthcare products and facilities from an aging population. The global healthcare market is expected to reach $11.9 trillion by 2022.
However, not all companies have been able to capitalize on the industry’s favorable growth prospects. Morgan Stanley (NYSE:MS) recently downgraded Oak Street Health Inc. (OSH) and Bright Health Group Inc. (BHG) because of their poor fundamentals and their inability to outperform their peers. So, these stocks are best avoided now.
