NEW YORK ( TheStreet) -- The following 10 global health care equipment and services stocks will likely benefit from the growing global demand for medical devices and services. Other driving factors include increasing medical expenditure on an aging population in developed countries and rising income levels in developing economies. Emerging nations will likely play a key role, given the scenario of greater attention to health care, construction of hospitals and clinics and rapidly progressing public health insurance.
The health care equipment and supplies market reached $297 billion by the end of 2009, according to a Deloitte report, with the U.S. leading the world in the production of medical devices and accounting for more than 40% of the global total. Going forward, reimbursement procedures, health care reforms, information technology, and demographics will impact the industry's overall growth in the U.S.
While exports of high-technology medical devices from U.S. companies will likely expand going forward, benefiting the relevant stocks, some Chinese companies are catching up on the technology front with the government focusing on developing the domestic sector.
Analysts favor these 10 stocks, as indicated by the 100% buy ratings. In addition, most of these stocks will likely outperform their peers and broader markets, based on the upside implied from their respective 12-month price targets.