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EXCLUSIVE: Pharma's Cloud Revolution — A $60B Market By 2030 With 1 Stock To Watch

Published 28/03/2024, 13:18
Updated 28/03/2024, 14:40
© Reuters. EXCLUSIVE: Pharma's Cloud Revolution — A $60B Market By 2030 With 1 Stock To Watch

Benzinga - by Surbhi Jain, .

In an exclusive interview with Benzinga, Gregory DiMarzio, vice president and portfolio manager at Rockland Trust, shared insights on the current market landscape and highlighted potential growth opportunities for investors.

DiMarzio emphasized the health care sector’s underperformance year-to-date (YTD) and its potential for a rebound.

Healthcare Sector Offers Secular Growth Attributes

Health Care Select Sector SPDR ETFVanguard Health Care ETFSPDR S&P 500 ETF

Also Read: Beyond Tech And AI: Why The Sector Hedge Funds Prefer Is Not The One You’d Expect

Per DiMarzio, despite economic uncertainties, healthcare offers secular growth attributes that could position it well for the future. “Considering potential economic nervousness, the health care sector offers secular growth attributes that should help it rebound and either catch up with the overall market or be resistant to the downside should the market pull back,” he said.

Veeva Systems Has A Significant Opportunity For Growth, Says DiMarzio

Veeva Systems Inc

DiMarzio highlighted, “Veeva Systems has a significant opportunity for growth because the industries it serves haven’t yet taken full advantage of utilizing cloud-based technology such as Veeva's.”

Veeva Systems’ innovative approach to cloud computing in pharmaceuticals and life sciences positions it as a leader in the industry, he said.

DiMarzio pointed out, “The total market size globally for cloud computing in pharmaceuticals is expected to reach nearly $60 billion by 2030, a 14.6% CAGR from 2022 – 2030.” This robust growth forecast underscores the vast potential for companies like Veeva Systems to capitalize on emerging trends in the health care sector.

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Read Next: Did You Miss These 3 High-Yielding Dividend Stocks In Health Care Sector From Wall Street’s Most Accurate Analysts?

Image generated using artificial intelligence with Midjourney.

Latest Ratings for VEEV

Mar 2022JMP SecuritiesMaintainsMarket Outperform
Mar 2022SVB LeerinkMaintainsOutperform
Mar 2022B of A SecuritiesDowngradesBuyNeutral

View the Latest Analyst Ratings

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

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