Developed in 1999 and jointly managed by S&P Dow Jones Indices and MSCI, the Global Industry Classification Standard® (GICS®) assigns companies to a single classification at the sub-industry level according to their principal business activity using quantitative and qualitative factors, including revenues, earnings, and market perception. The sub-industry is the most specific level of the four-tiered, hierarchical industry classification system that includes 11 sectors, 24 industry groups, 69 industries, and 158 sub-industries, as of Dec. 31, 2018.
The Health Care sector comprises companies primarily engaged in Health Care Equipment & Services, Pharmaceuticals, Biotechnology, and Life Sciences.
The sector includes, but is not limited to, companies that:
- Manufacture healthcare equipment and devices including medical instruments, drug delivery systems, cardiovascular & orthopedic devices, and diagnostic equipment;
- Own and operate healthcare facilities, including hospitals, nursing homes, rehabilitation centers, and animal hospitals;
- Engage in the research, development, or production of pharmaceuticals;
- Engage in the research, development, manufacturing, or marketing of products based on genetic analysis and genetic engineering; or
- Enable the drug discovery, development, and production continuum by providing analytical tools, instruments, consumables and supplies, clinical trial services, and contract research services.