Best European healthcare stocks to invest in 2026

European healthcare companies combine scientific innovation with regulatory excellence, creating compelling investment opportunities across pharmaceuticals, medical devices, and healthcare services. These firms benefit from strong research ecosystems and access to diverse global markets.

Dynavox Group specializes in assistive technology for people with speech and communication disabilities, providing solutions that enhance quality of life. RaySearch Laboratories develops advanced software solutions for radiation therapy treatment optimization in cancer care facilities worldwide. EssilorLuxottica leads the global eyewear industry through innovative lens technology, iconic brands, and an extensive retail network.

In 2025, European healthcare stocks offer investors exposure to demographic tailwinds, innovation pipelines, and defensive earnings profiles. These companies represent compelling opportunities for those seeking quality growth in a resilient sector.

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Before we dive into each company, let`s take a look at how your investment would have performed if you had invested in stocks mentioned in this article.

Now, let`s take a closer look at each of the companies:

• Dynavox Group (ST:DYVOX)

  Dynavox Group is a leading provider of speech-generating devices and communication solutions for individuals with complex communication needs, specializing in augmentative and alternative communication (AAC) technologies that enable people with disabilities to communicate effectively. Founded in 1983 and headquartered in Pittsburgh, Pennsylvania, the company has evolved from a small assistive technology startup into a comprehensive provider of communication devices, software applications, and support services serving individuals with autism, cerebral palsy, ALS, and other conditions that affect speech and language abilities. The company has built its reputation through continuous innovation, clinical expertise, and dedication to improving quality of life for individuals with communication challenges, establishing itself as a trusted partner for speech-language pathologists, healthcare providers, and families worldwide.

  Dynavox operates through integrated product development, manufacturing, and service delivery that encompasses speech-generating device design, software development, clinical support, and ongoing customer service for individuals and healthcare institutions requiring specialized communication solutions. The company`s core activities include assistive technology research and development, device manufacturing and customization, clinical training and support, and insurance reimbursement assistance, with particular expertise in creating user-friendly communication systems that adapt to individual needs and capabilities. With growing awareness of communication disabilities, increasing healthcare focus on quality of life outcomes, and expanding insurance coverage for assistive technologies, Dynavox is strategically positioned to capitalize on growing demand for innovative communication solutions and assistive technology services.

  Dynavox Group financial statements

  Analysts recommendation: 2.2

  Financial Health

  • Return on assets (ROA): 6.88%
  • Return on equity (ROE): 31.54%
  • Return on investment (ROI): 12.1%

  Profitability

  • Gross margin: 68.72%
  • Operating margin: 10.56%
  • Net profit margin: 6.05%

  Growth

  • EPS (past 5 years): N/A
  • EPS (current): 1.35
  • EPS estimate (next quarter): N/A
  • EPS growth (this year): -18.4%
  • EPS growth (next year): N/A
  • EPS growth (next 5 years): N/A
  • EPS growth (quarter-over-quarter): N/A
  • Sales growth (past 5 years): N/A
  • Sales growth (quarter-over-quarter): 25.5%

  💡 Why invest in Dynavox Group?

  Like a master linguist creating new pathways for human expression, Dynavox Group`s specialized expertise and market positioning create powerful channels for sustained growth and social impact:

  • Essential Healthcare Service: Dynavox provides life-changing communication solutions that individuals with disabilities cannot function without, creating defensive market positioning and recurring upgrade revenue.
  • Specialized Market Leadership: Deep expertise in augmentative and alternative communication creates significant barriers to entry and competitive advantages in serving complex medical and educational needs requiring specialized knowledge.
  • Insurance Reimbursement Coverage: Growing insurance coverage and Medicare/Medicaid reimbursement for speech-generating devices provides stable funding sources and reduces price sensitivity for essential communication technologies.
  • Aging Population Demographics: Increasing prevalence of age-related communication disorders, neurological conditions, and stroke recovery needs drive growing demand for assistive communication technologies and services.

  🐌 Key considerations before investing in Dynavox Group

  However, like navigating complex healthcare systems and regulatory requirements, Dynavox faces operational and market challenges that could impact its communication delivery and financial performance:

  • Regulatory Compliance Costs: Medical device regulations, FDA requirements, and healthcare compliance standards drive ongoing costs and potential delays in product development and market introduction timelines.
  • Reimbursement Policy Risk: Changes in insurance coverage, Medicare policies, and healthcare reimbursement rates could impact customer access to devices and affect demand for Dynavox`s products and services significantly.
  • Limited Market Size: The specialized nature of communication disabilities creates a relatively small addressable market compared to broader healthcare sectors, potentially limiting growth opportunities and scale benefits.
  • Technology Evolution Risk: Rapid advances in consumer technology, tablets, and mobile applications could disrupt traditional speech-generating devices and require continuous innovation investment to maintain relevance.

  Final thoughts on Dynavox Group

  Dynavox Group`s specialized communication technology expertise, essential healthcare service provision, and positioning in growing assistive technology markets create compelling opportunities for investors seeking exposure to meaningful healthcare innovation and disability services. The company`s market leadership, insurance reimbursement advantages, and demographic tailwinds provide competitive strengths in serving critical communication needs. However, investors must carefully consider regulatory compliance costs, reimbursement policy risks, and market size limitations that characterize the specialized assistive technology industry.

• RaySearch Laboratories (ST:RAY-B)

  RaySearch Laboratories AB is a Swedish medical technology company specializing in advanced software solutions for radiation therapy treatment planning and related applications in oncology. Founded in 1999 and headquartered in Stockholm, Sweden, the company has established itself as a global leader in developing innovative software that helps healthcare professionals deliver precise and effective cancer treatments. RaySearch`s solutions are used by leading cancer centers worldwide to optimize radiation therapy planning and improve patient outcomes through advanced computational algorithms and treatment optimization technologies.

  The company`s core business focuses on developing and commercializing sophisticated treatment planning systems, including RayStation for external beam radiotherapy and RayCare for oncology information management. RaySearch serves hospitals, cancer centers, and medical institutions globally, providing software solutions that enable clinicians to create optimal treatment plans for cancer patients using advanced dose calculation algorithms and machine learning capabilities. Through continuous research and development, strategic partnerships with major medical device manufacturers, and expansion into emerging markets, RaySearch continues to advance the field of precision radiation therapy and oncology care.

  RaySearch Laboratories financial statements

  Analysts recommendation: N/A

  Financial Health

  • Return on assets (ROA): 8.37%
  • Return on equity (ROE): 25.34%
  • Return on investment (ROI): N/A

  Profitability

  • Gross margin: 92.95%
  • Operating margin: 26.81%
  • Net profit margin: 16.97%

  Growth

  • EPS (past 5 years): N/A
  • EPS (current): 6.4
  • EPS estimate (next quarter): N/A
  • EPS growth (this year): 58.2%
  • EPS growth (next year): N/A
  • EPS growth (next 5 years): N/A
  • EPS growth (quarter-over-quarter): N/A
  • Sales growth (past 5 years): N/A
  • Sales growth (quarter-over-quarter): 13.3%

  💡 Why invest in RaySearch Laboratories?

  RaySearch Laboratories` specialized medical software expertise and strategic positioning in the oncology technology sector create compelling opportunities for investors seeking exposure to healthcare innovation:

  • Radiation Therapy Leadership: RaySearch holds a leading position in radiation therapy treatment planning software, with its RayStation platform used by major cancer centers worldwide providing competitive advantages.
  • Growing Cancer Market: The increasing global cancer incidence, aging population demographics, and expanding access to advanced radiation therapy create sustained demand for RaySearch`s specialized oncology software.
  • Advanced Technology Innovation: The company`s continuous investment in artificial intelligence, machine learning, and advanced dose calculation algorithms positions RaySearch at the forefront of precision medicine.
  • Recurring Revenue Model: RaySearch generates recurring revenue through software licenses, maintenance contracts, and ongoing support services, providing predictable cash flows and strong customer relationships.

  🐌 Key considerations before investing in RaySearch Laboratories

  Despite its healthcare technology leadership, RaySearch Laboratories faces several challenges that investors should carefully consider before making investment decisions:

  • Medical Software Regulations: Medical software development requires extensive regulatory approvals, clinical validation, and compliance with healthcare standards that can create lengthy development cycles and significant risks.
  • Competitive Technology Pressure: The medical technology sector faces intense competition from large healthcare conglomerates and specialized software companies, potentially impacting pricing power and market share growth opportunities.
  • Hospital Spending Volatility: RaySearch`s performance depends on hospital capital spending, healthcare budgets, and institutional investment decisions that can create revenue volatility during economic downturns or funding constraints.
  • Geographic Concentration Risk: The company`s focus on developed healthcare markets creates geographic concentration risk and limits diversification opportunities in emerging markets with different regulatory and technology adoption patterns.

  Final thoughts on RaySearch Laboratories

  RaySearch Laboratories` market leadership, technology innovation, and strategic positioning in the growing oncology software sector create compelling opportunities for investors seeking exposure to precision medicine and healthcare technology advancement. The company`s recurring revenue model, global market presence, and continuous R&D investment provide competitive advantages in serving the evolving needs of cancer treatment centers worldwide. However, investors must carefully consider regulatory complexity, competitive technology pressures, healthcare spending cycles, and geographic concentration risks that characterize RaySearch`s specialized medical software business.

• EssilorLuxottica (PA:EL)

  EssilorLuxottica SA is the world's largest eyewear company, formed through the 2018 merger of Essilor and Luxottica, providing comprehensive solutions spanning lens manufacturing, eyewear design and production, and retail distribution across prescription glasses, sunglasses, and contact lenses. Founded in 2018 and headquartered in Paris, France and Milan, Italy, the company has established itself as the dominant global leader in the eyewear industry through its vertically integrated business model combining lens technology, iconic eyewear brands, and extensive retail networks. With unparalleled scale, brand portfolio, and distribution capabilities, EssilorLuxottica has built strong market positions across professional channels, retail stores, and e-commerce platforms while maintaining its reputation for optical innovation, fashion leadership, and customer service excellence.

  The company's core business encompasses lens manufacturing and optical solutions including progressive lenses and coatings, eyewear brands portfolio featuring Ray-Ban, Oakley, Persol, and licensed designer brands, retail operations through LensCrafters, Sunglass Hut, Pearle Vision, and other chains, and wholesale distribution to opticians, optometrists, and retailers worldwide. EssilorLuxottica serves customers across professional and consumer channels through integrated offerings that combine optical expertise, fashion design, and omnichannel distribution capabilities generating revenues from product sales, retail operations, and professional services. With aging demographics driving vision correction demand, growing middle class in emerging markets, and increasing premiumization of eyewear as fashion accessories, EssilorLuxottica is strategically positioned to capitalize on secular growth trends while leveraging its vertical integration and market leadership to generate stable cash flows across economic cycles.

  EssilorLuxottica financial statements

  Analysts recommendation: N/A

  Financial Health

  • Return on assets (ROA): 3.58%
  • Return on equity (ROE): 6.44%
  • Return on investment (ROI): N/A

  Profitability

  • Gross margin: 61.98%
  • Operating margin: 14.25%
  • Net profit margin: 8.74%

  Growth

  • EPS (past 5 years): N/A
  • EPS (current): 5.16
  • EPS estimate (next quarter): N/A
  • EPS growth (this year): 0.7%
  • EPS growth (next year): N/A
  • EPS growth (next 5 years): N/A
  • EPS growth (quarter-over-quarter): N/A
  • Sales growth (past 5 years): N/A
  • Sales growth (quarter-over-quarter): 5.5%

  💡 Why invest in EssilorLuxottica?

  Like a visionary leader shaping how the world sees, EssilorLuxottica demonstrates compelling competitive advantages in the global eyewear and optical solutions industry:

  • Vertical Integration Advantage: EssilorLuxottica's unique vertical integration spanning lens manufacturing, frame design, brand ownership, and retail distribution creates competitive moats and operational synergies unavailable to competitors.
  • Iconic Brand Portfolio: Ownership of premium brands including Ray-Ban, Oakley, and licensed designer eyewear provides strong consumer recognition, pricing power, and marketing leverage while enabling premiumization strategies.
  • Global Distribution Network: Extensive retail footprint through owned stores, franchise operations, and wholesale partnerships provides unmatched market access and distribution capabilities across professional and consumer channels.
  • Aging Population Tailwinds: Aging populations requiring vision correction, growing middle class in emerging markets, and increasing screen time driving myopia create sustained demand growth for optical products and services.

  🐌 Key considerations before investing in EssilorLuxottica

  Despite its strong market position, EssilorLuxottica faces notable challenges inherent to the consumer goods and retail eyewear industry:

  • Regulatory Scrutiny Risk: Dominant market position attracts antitrust attention, regulatory oversight, and potential restrictions on acquisitions or business practices that could limit growth strategies and operational flexibility.
  • Online Retail Disruption: Online eyewear retailers and direct-to-consumer brands offering lower prices and convenient home try-on services could pressure traditional retail channels and margins among price-sensitive consumers.
  • Fashion Cycle Volatility: Sunglasses and fashion eyewear sales depend on style trends, seasonal demand, and discretionary spending that can fluctuate with economic conditions, consumer preferences, and competitive fashion offerings.
  • Integration Execution Risk: Realizing merger synergies, integrating operations, and managing cultural differences between legacy Essilor and Luxottica organizations requires sustained management focus and execution.

  Final thoughts on EssilorLuxottica

  EssilorLuxottica's vertical integration advantage, iconic brand portfolio, and global distribution network position it as the dominant eyewear leader with strong competitive moats and demographic tailwinds. However, investors must consider regulatory scrutiny risks, e-commerce disruption, and integration execution challenges that characterize the consolidated eyewear industry. Like a comprehensive vision partner serving diverse customer needs, EssilorLuxottica leverages its unmatched scale and vertical integration to generate stable revenues while navigating competitive dynamics and digital transformation in global eyewear markets.

• AstraZeneca (L:AZN)

  AstraZeneca PLC is a global biopharmaceutical company focused on the discovery, development, and commercialization of prescription medicines, primarily in oncology, cardiovascular, renal, metabolism, respiratory, and immunology. Founded in 1999 through the merger of Sweden`s Astra AB and the UK`s Zeneca Group, the company is headquartered in Cambridge, United Kingdom. Over the years, AstraZeneca has established itself as one of the world`s leading pharmaceutical firms, delivering innovative treatments that address some of the most pressing medical challenges.

  With a strong research and development presence across North America, Europe, and Asia, AstraZeneca is committed to advancing science through cutting-edge drug development and strategic partnerships. The company is known for its groundbreaking work in oncology, with a robust pipeline of targeted therapies that improve patient outcomes. By leveraging advanced biologics, precision medicine, and artificial intelligence, AstraZeneca continues to drive innovation and expand access to life-saving treatments worldwide.

  AstraZeneca financial statements

  Analysts recommendation: 1.53

  Financial Health

  • Return on assets (ROA): 9.06%
  • Return on equity (ROE): 21.67%
  • Return on investment (ROI): 11.77%

  Profitability

  • Gross margin: 83.26%
  • Operating margin: 24.11%
  • Net profit margin: 16.17%

  Growth

  • EPS (past 5 years): 34.53%
  • EPS (current): 4.46
  • EPS estimate (next quarter): 1.06
  • EPS growth (this year): 78%
  • EPS growth (next year): 12.96%
  • EPS growth (next 5 years): 12.12%
  • EPS growth (quarter-over-quarter): 28.74%
  • Sales growth (past 5 years): 17.18%
  • Sales growth (quarter-over-quarter): 12%

  💡 Why invest in AstraZeneca?

  Several key factors make AstraZeneca an attractive prospect for investors seeking exposure to the growing healthcare sector:

  • Pharmaceutical Industry Leader: AstraZeneca ranks among the top ten pharmaceutical companies globally based on sales, boasting a strong market presence and brand recognition that drives consistent revenue streams.
  • Innovation Research Focus: Their commitment to research and development fuels a steady pipeline of new drugs, ensuring future growth and addressing unmet medical needs across multiple therapeutic areas globally.
  • Diverse Product Portfolio: AstraZeneca offers a wide range of medicines across various therapeutic areas, mitigating risk by not relying on a single product or treatment category for revenue generation effectively.
  • Global Market Accessibility: Their global presence and focus on affordability programs ensure broader access to their medications, improving healthcare outcomes worldwide and expanding market reach significantly.

  🐌 Key considerations before investing in AstraZeneca

  While AstraZeneca`s strong market position, focus on R&D, and diverse product portfolio are strengths, there are challenges to consider in the pharmaceutical industry:

  • Drug Development Risks: The research and development process for new drugs is expensive, time-consuming, and fraught with risk, as not all drugs in development make it to market successfully or generate expected returns.
  • Patent Expiration Concerns: Exclusive marketing rights for certain drugs eventually expire, opening the door to generic competition and potentially impacting revenue streams and profitability margins significantly.
  • Regulatory Compliance Requirements: The pharmaceutical industry is heavily regulated, with strict guidelines for drug development, testing, and marketing, potentially impacting development timelines and costs across global markets.
  • Pricing Affordability Debates: The high cost of some medications can spark debate and government intervention, potentially affecting pricing strategies and profitability in key markets worldwide and impacting revenue growth.

  Final thoughts on AstraZeneca

  AstraZeneca`s strong market position, focus on innovation, and diverse product portfolio create compelling opportunities for long-term healthcare investors. However, drug development risks, patent expiries, and regulatory hurdles warrant careful evaluation. Thorough research and understanding of your risk tolerance are crucial before investing in this pharmaceutical leader.

• Genus (L:GNS)

  Genus plc is a leading global animal genetics company that develops and commercializes breeding technologies and genetic solutions for livestock producers worldwide. Founded in 1933 and headquartered in Basingstoke, United Kingdom, the company has established itself as a pioneer in animal breeding science, serving customers in over 70 countries through its comprehensive portfolio of bovine and porcine genetics, reproductive technologies, and data analytics services. Genus has built its reputation through decades of genetic research and innovation, helping farmers improve productivity, sustainability, and animal welfare through advanced breeding programs and biotechnology solutions.

  The company operates through two primary divisions: ABS (cattle genetics) and PIC (pig genetics), providing integrated breeding solutions that combine superior genetics, reproductive technologies, and data-driven insights to optimize livestock performance. Genus`s core activities encompass genetic research and development, artificial insemination services, embryo transfer technologies, genomic testing, and farm management software solutions that enable precision breeding decisions. With growing global demand for sustainable protein production and increasing focus on animal welfare and environmental stewardship, Genus is strategically positioned to capitalize on the agricultural industry`s transition toward more efficient and sustainable livestock production systems.

  Genus financial statements

  Analysts recommendation: N/A

  Financial Health

  • Return on assets (ROA): 4.53%
  • Return on equity (ROE): 3.9%
  • Return on investment (ROI): -51.71%

  Profitability

  • Gross margin: 40.19%
  • Operating margin: 10.08%
  • Net profit margin: 2.87%

  Growth

  • EPS (past 5 years): -12.86%
  • EPS (current): 0.29
  • EPS estimate (next quarter): -0.04
  • EPS growth (this year): 67.96%
  • EPS growth (next year): 75.76%
  • EPS growth (next 5 years): N/A
  • EPS growth (quarter-over-quarter): N/A
  • Sales growth (past 5 years): -4.48%
  • Sales growth (quarter-over-quarter): 0.4%

  💡 Why invest in Genus?

  Like a master breeder cultivating superior livestock genetics, Genus demonstrates compelling competitive advantages in agricultural biotechnology:

  • Genetic Leadership Moat: Genus maintains leading positions in bovine and porcine genetics with decades of breeding expertise, proprietary genetic lines, and advanced reproductive technologies that create sustainable competitive moats.
  • Global Market Access: The company`s established presence in over 70 countries provides diversified revenue streams and access to growing protein markets in developing economies with expanding middle-class populations.
  • Innovation Pipeline Development: Continuous investment in genomic research, biotechnology, and data analytics enables Genus to develop next-generation breeding solutions that improve livestock productivity and sustainability metrics.
  • Sustainability Positioning Advantage: Growing focus on sustainable agriculture and animal welfare aligns with Genus`s genetic solutions that improve feed efficiency, reduce environmental impact, and enhance livestock health outcomes.

  🐌 Key considerations before investing in Genus

  However, like managing complex agricultural cycles and biological systems, Genus faces industry challenges that could impact growth and profitability:

  • Agricultural Cyclicality Exposure: Livestock genetics demand is tied to agricultural commodity cycles, farm profitability, and protein consumption patterns that can be volatile due to economic conditions and trade policies.
  • Regulatory Complexity Variation: International operations expose Genus to varying regulatory frameworks for biotechnology, animal health, and genetic modification that could impact product approvals and market access.
  • Disease Risk Exposure: Animal disease outbreaks, biosecurity concerns, and health crises in livestock populations could disrupt breeding programs, reduce demand, and impact operational continuity across regions.
  • Technology Disruption Risk: Emerging biotechnologies, gene editing techniques, and alternative protein production methods could potentially disrupt traditional livestock breeding markets and competitive dynamics.

  Final thoughts on Genus

  Genus has established a strong position in global animal genetics through decades of breeding expertise, innovative biotechnology solutions, and comprehensive market coverage that serves the growing demand for sustainable protein production. The company`s genetic leadership, global reach, and alignment with sustainability trends create compelling opportunities for long-term growth in agricultural biotechnology. While agricultural cyclicality, regulatory complexity, and emerging technology risks present challenges, Genus`s role as an essential partner in livestock productivity improvement positions it well to benefit from the ongoing evolution toward more efficient and sustainable animal agriculture systems.