Industry observers argue that medical technology companies can tap into increased healthcare spending among emerging economies while the U.S. market has matured and could experience slower growth. Looking ahead, in the years through 2024, spending growth is projected to average 5.8% and peak at 6.3% in 2020.

Related: ETF Plays for a Divided Midterm Elections

IHI, the medical devices ETF, could rally if post-election plans emerge in Congress to permanently scrap implemented as part of Obamacare that focuses squarely on medical device makers.

“Additionally, investors have been digging even deeper to gain exposure to longer term trends such as Medical Devices, which at 16.8% year-to-date are handily beating both the sector and the broad S&P 500,” according to BlackRock.

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