3 of the best ASX healthcare shares to buy and hold

Here's why I think CSL Limited (ASX:CSL) and these ASX healthcare shares are among the best on offer in the sector right now…

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If you're looking for long term investment term options, then I think the healthcare sector would be a great place to start your search.

This is because with populations around the world getting older and chronic disease burden increasing, I expect demand for healthcare services to grow at a consistently solid rate over the next couple of decades.

With that in mind, listed below are three top ASX healthcare shares that I feel could be great long-term options. Here's why I would buy them:

CSL Limited (ASX: CSL)

If you were to only buy one healthcare share, I would make it CSL. I believe this biotherapeutics giant is perfectly positioned to deliver solid sales and earnings growth over the long term. This is due to its leading therapies, expansive plasma collection network, and promising research and development pipeline. The latter includes a number of therapies which have significant market opportunities.

Ramsay Health Care Limited (ASX: RHC)

Another healthcare share to consider buying and holding is Ramsay Health Care. Times may be hard for the private hospital operator now because of the pandemic, but I believe this is already built into its share price. In light of this, I think investors should focus on the very positive long term outlook its sprawling global network has from the aforementioned industry tailwinds.

ResMed Inc. (ASX: RMD)

A final healthcare share to consider buying is ResMed. I believe this sleep treatment focused medical device company has the potential to grow its earnings at an above average rate for many years to come. This is thanks to its growing and lucrative market opportunity and its leading hardware and software solutions. In respect to the former, management estimates that there are 936 million people with sleep apnoea globally and over 380 million people who suffer from chronic obstructive pulmonary disease (COPD).

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. The Motley Fool Australia has recommended Ramsay Health Care Limited and ResMed Inc. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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