Catalyzed by rising costs and the fallout from the COVID-19 pandemic, the healthcare industry is investing heavily into digital solutions, especially in the U.S., where healthcare spending has reached a whopping 17.7% of GDP. Healthcare IT spending was estimated to be $74.2 billion globally in 2020 and is expected to grow at a compound annual rate of 10.7% through 2028. One company taking advantage of this trend is Doximity (NYSE: DOCS) , a professional medical network for physicians that recently went public in June.
Should you buy Doximity stock?
Image source: Getty Images.
For further details see:
Should You Invest in Recent Healthcare IPO Doximity?