Zacks Industry Outlook Enovis, Omnicell and Phreesia

Industry Overview - The Medical Info Systems industry is rapidly expanding, driven by advancements in healthcare resource management and the adoption of digital healthcare and telemedicine, particularly influenced by the latest GenAI wave [1][2] - The industry comprises companies that develop and market healthcare information systems, providing software and hardware solutions for secure access to real-time clinical, administrative, and financial data [5] Market Trends - The use of AI in the medical device market is projected to grow at a CAGR of 29.9% from 2026 to 2029, driven by a patient-centric approach, increased healthcare expenditure, and regulatory support [3] - The global AI in healthcare market is expected to reach $95.65 billion by 2025, enhancing diagnostics and patient monitoring through AI-powered tools [9] - The global smart healthcare products market was valued at$145.9 billion in 2023 and is projected to reach $485.71 billion by 2032, with a CAGR of 12.78$1.9 billion to $2 billion by 2025, representing a CAGR of 14%-15% from 2021 to 2025 [21] - Phreesia provides an integrated SaaS-based software and payment platform, enabling approximately 150 million patient visits in 2023, with a projected earnings growth of 56.2% for 2024 [22][23] Industry Performance - The Zacks Medical Info Systems industry has underperformed the S&P 500 and the broader medical sector over the past year, with a decline of 6.6% compared to the sector's decline of 4.4% [17] - The industry is currently trading at a forward 12-month price-to-sales ratio of 5.63X, compared to the S&P 500's 5.51X and the sector's 2.86X [18]