“The rally from that point was steep although over the past few weeks prices stalled. But on-balance, or cumulative volume, which is a proxy for supply and demand for a stock or index, continued to move up to new highs for the year. This suggests money is still flowing into the component stocks of the index, and that increases the odds for an eventual upside breakout from the range,” reports Michael Kahn of Barron’s on the Dow Jones US Select Medical Equipment Index, IHI’s underlying index.
Looking ahead, in the years through 2024, spending growth is projected to average 5.8% and peak at 6.3% in 2020.
Additionally, the actuaries calculated that around 8.4 million Americans became insured in 2014 and noted their increased use of medical services. The number of people on Medicaid is projected to increase to 78.1 million by 2024, outstripping Medicare, which is expected to have 70.3 million enrolled. [Healthcare ETFs: Specialized Drugs in Greater Demand]
iShares U.S. Medical Devices ETF
