Upheaving health care
As incomes grow and lifestyles change in the developing world, populations in mature economies are ageing and health-care services are being pressured by severe budgetary constraints. At the same time, an increase in out-of-pocket health-care spending is fuelling the growing consumerisation of health care. As a result, the health-care sector must adapt to meet the changing needs of the world, which presents opportunities and pitfalls for investors.
What matters most?
To help focus our analysis of health-care trends, we focus on the growing wellness industry, renewed efforts in preventative health care, the demands of ageing populations, the increasing accessibility of health-care services and a growing focus on personalisation in the medical sector, though we remain conscious of other forces in health care too.
The increasing adoption of Western-style diets globally and a recognition of the role of diet in disease also point to potential changes in patterns of chronic disease, food consumption and government policies.
Of course, our themes don’t exist in a vacuum

The investment implications of ageing populations bridge our healthy demand and population dynamics themes perfectly. How else will demographic shifts affect the investment landscape?
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These opinions should not be construed as investment or other advice and are subject to change. This material is for information purposes only. Any reference to a specific security, country or sector should not be construed as a recommendation to buy or sell investments in those countries or sectors. Please note that holdings and positioning are subject to change without notice.