2 Growth Stocks to Hold for the Next Decade

Over the past year, Intuitive Surgical (NASDAQ: ISRG) and DexCom (NASDAQ: DXCM) have faced headwinds, and have lagged the stock market as a result. Shares of the former are down 13% over the trailing-12-month period, while the latter is down 12%. Despite the obstacles they have faced, Intuitive Surgical and DexCom have excellent prospects that could allow them to outperform broader equities over the next decade.

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1. Intuitive Surgical

Intuitive Surgical, the leader in the robotic-assisted surgery (RAS) market, encountered at least two obstacles in 2025. First, tariffs took a bite out of the company's financial results. Second, Medtronic, a medical device leader, earned clearance for a competing device in the U.S., the Hugo system, in urologic procedures. While the Hugo system won't seriously challenge Intuitive Surgical's crown jewel, the da Vinci system, for a few years, the prospect of more competition did the company no favors.

Let's see how Intuitive Surgical can overcome both obstacles, starting with the second one, and still deliver competitive returns through 2036. Intuitive Surgical will benefit from an important secular trend: The world's aging population, which means a higher demand for many of the procedures it offers with its da Vinci system. By 2034, there will be more seniors aged 65 and older than people 18 and under in the U.S., according to projections (and it's already the case in 11 states).

It's also worth noting Intuitive Surgical's wide moat, driven by switching costs (da Vinci systems are expensive), as well as its innovative qualities, which have enabled it to launch new iterations of its devices and secure label expansions. The result should be a larger market and increased procedure volume, leading to higher revenue and earnings, even amid mounting competition. But what about tariffs? The company could address those in a number of ways, including leveraging its pricing power to raise prices slightly, which, across an installed base of 11,106 da Vinci devices (and growing), would make a meaningful impact.

In short, Intuitive Surgical's outlook for the next decade remains attractive, making this great healthcare stock a buy right now.

2. DexCom

DexCom develops continuous glucose monitoring (CGM) devices for patients with diabetes. Last year, it faced some product recalls as some of its CGM receivers malfunctioned. However, this problem affected only a tiny number of patients. This issue won't significantly harm DexCom's position in the CGM market, where it is one of the leaders.

Meanwhile, the company has attractive growth opportunities. The CGM market remains underpenetrated among diabetes patients who can benefit from the technology the most. DexCom estimates that more than 9 million patients in the U.S. have insurance coverage for the technology, but still aren't using it. That's a significant target market DexCom could make headway into, especially given its total of about 3.5 million patients globally.

DexCom is also increasingly targeting non-diabetic patients, notably with newer over-the-counter products in the U.S. such as Stelo, which received clearance in 2024 and has attracted over half a million users since its launch. In the U.S., over 40% of the population has prediabetes, a large market DexCom could tap into with Stelo.

Between the company's opportunities in the U.S., its ability to develop and launch new devices, and its entering new geographies, DexCom's growth prospects look attractive right now. That's why the stock could beat the market through 2036.

Prosper Junior Bakiny has positions in Intuitive Surgical. The Motley Fool has positions in and recommends Intuitive Surgical. The Motley Fool recommends DexCom and Medtronic and recommends the following options: long January 2027 $65 calls on DexCom, long January 2028 $520 calls on Intuitive Surgical, short January 2027 $75 calls on DexCom, and short January 2028 $530 calls on Intuitive Surgical. The Motley Fool has a disclosure policy.