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Quest Diagnostics (DGX) Presents New Data on Disease Testing
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Quest Diagnostics, Inc. (DGX - Free Report) recently provides additional information on Hepatitis C and Alzheimer’s disease testing. In order to inform public health strategy for Hepatitis, COVID-19, HIV and other illnesses, the business undertook a study prepared by CDC experts using data from the Quest Diagnostics Health Trends research program.
The latest launch will expand Quest Diagnostics’ portfolio of testing services, fortifying the Diagnostic Solutions business.
About Quest’s Testing Suite
DGX is dedicated to create cutting-edge laboratory tests to help assess patient risk for dementia and other degenerative diseases. For the first time, it is giving patients and physicians to have access to high-quality laboratory innovation for Alzheimer's disease on a broad national scale through its exclusive AD-Detect series of blood tests.
Instead of utilizing traditional cerebrospinal fluid, the company's AD-Detect AB 42/40 test analyzes amyloid beta indicators linked to AD risk using a blood sample. Additionally, the business offers genetic testing for apoE using tandem mass spectrometry and molecular PCR testing, two distinct advanced methods.
More on the News
The company stated that despite the availability of curative medicines, just one in three persons (34%) with evidence of Hepatitis C virus infection achieved viral clearance. The data was taken from an MMWR study published by the U.S. Centers for Disease Control and Prevention (CDC) on Jun 29, 2023.
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Even lower viral clearance rates were observed in persons who were enrolled in Medicaid and in adults aged 20 to 39. The report is based on an examination of deidentified data from laboratory tests carried out by Quest Diagnostics on more than 1.7 million people between 2013 and 2022 by researchers from the CDC and Quest Diagnostics.
Significance of Research
This study demonstrates how laboratory data can be used to identify care gaps for sizable populations. The CDC and Quest collaborated to develop a straightforward, uniform care cascade for monitoring the eradication of Hepatitis C.
This most recent analysis by the CDC and Quest Diagnostics shows a significant opportunity to enhance care and treatment for patients with Hepatitis C infection. It is alarming that so many diseased people are going untreated despite the fact that modern medicines have a virtually 100% success rate.
Industry Prospects
Per a report by Allied Market Research, global Hepatitis C testing market was valued at $1.3 billion in 2021 and is projected to reach $2.3 billion by 2031, growing at a CAGR of 5.3%. An increase in blood transfusion and donation rates contributes to the rise in the prevalence of Hepatitis C.
Per a report by Verified Market Research, Alzheimer’s disease diagnostics market size was valued at $2,994.12 million in 2022 and is projected to reach $ 6,252.92 million by 2030, growing at a CAGR of 8.19%. Growing chronic diseases like dementia, investment in biomarkers for drug development, robust pipeline for drug development are the factors driving this market.
Recent Developments
In Jun 2023, Quest Diagnostics partnered with Coriell Life Sciences to provide select medical plan members with pharmacogenomics testing services. The test indicates how different genes and their variants affect an individual’s reaction to drugs.
In May 2023, Quest Diagnostics announced that the RestoreU Dementia Panel, a risk assessment and care plan service developed by uMETHOD Health, would be made available nationwide. This would enable doctors to fill in any care gaps for patients with cognitive decline. The RestoreU service makes use of artificial intelligence created by uMETHOD to build personalized care plans that support cognitive care standards and aid clinicians in providing better patient care.
Price Performance
Shares of the company have gained 4.9% in the past year against the industry’s fall of 4.3%.
Zacks Rank
Quest Diagnostics carries a Zacks Rank #3 (Hold).
Key Picks
some other better-ranked stocks in the broader medical space are Hologic, Inc. (HOLX) ,Health Equity, Inc. (HQY - Free Report) and Boston Scientific Corporation (BSX - Free Report) .
Hologic, carrying a Zacks Rank #2 at present, has an estimated growth rate of 5.1% for fiscal 2024. HOLX’s earnings surpassed estimates in all the trailing four quarters, the average being 27.3%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Hologic has gained 15.4% compared with the industry’s 12.5% rise in the past year.
HealthEquity, sporting a Zacks Rank #1 at present, has an estimated long-term growth rate of 22%. HQY’s earnings surpassed estimates in three of the trailing four quarters and missed once, the average surprise being 9.1%.
HealthEquity has gained 9.5% against the industry’s 13.1% decline over the past year.
Boston Scientific, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 11.5%. BSX’s earnings surpassed estimates in two of the trailing four quarters and missed in the other two, the average surprise being 1.9%.
Boston Scientific has gained 42.3% against the industry’s 20.5% decline in the past year.
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Quest Diagnostics (DGX) Presents New Data on Disease Testing
Quest Diagnostics, Inc. (DGX - Free Report) recently provides additional information on Hepatitis C and Alzheimer’s disease testing. In order to inform public health strategy for Hepatitis, COVID-19, HIV and other illnesses, the business undertook a study prepared by CDC experts using data from the Quest Diagnostics Health Trends research program.
The latest launch will expand Quest Diagnostics’ portfolio of testing services, fortifying the Diagnostic Solutions business.
About Quest’s Testing Suite
DGX is dedicated to create cutting-edge laboratory tests to help assess patient risk for dementia and other degenerative diseases. For the first time, it is giving patients and physicians to have access to high-quality laboratory innovation for Alzheimer's disease on a broad national scale through its exclusive AD-Detect series of blood tests.
Instead of utilizing traditional cerebrospinal fluid, the company's AD-Detect AB 42/40 test analyzes amyloid beta indicators linked to AD risk using a blood sample. Additionally, the business offers genetic testing for apoE using tandem mass spectrometry and molecular PCR testing, two distinct advanced methods.
More on the News
The company stated that despite the availability of curative medicines, just one in three persons (34%) with evidence of Hepatitis C virus infection achieved viral clearance. The data was taken from an MMWR study published by the U.S. Centers for Disease Control and Prevention (CDC) on Jun 29, 2023.
Even lower viral clearance rates were observed in persons who were enrolled in Medicaid and in adults aged 20 to 39. The report is based on an examination of deidentified data from laboratory tests carried out by Quest Diagnostics on more than 1.7 million people between 2013 and 2022 by researchers from the CDC and Quest Diagnostics.
Significance of Research
This study demonstrates how laboratory data can be used to identify care gaps for sizable populations. The CDC and Quest collaborated to develop a straightforward, uniform care cascade for monitoring the eradication of Hepatitis C.
This most recent analysis by the CDC and Quest Diagnostics shows a significant opportunity to enhance care and treatment for patients with Hepatitis C infection. It is alarming that so many diseased people are going untreated despite the fact that modern medicines have a virtually 100% success rate.
Industry Prospects
Per a report by Allied Market Research, global Hepatitis C testing market was valued at $1.3 billion in 2021 and is projected to reach $2.3 billion by 2031, growing at a CAGR of 5.3%. An increase in blood transfusion and donation rates contributes to the rise in the prevalence of Hepatitis C.
Per a report by Verified Market Research, Alzheimer’s disease diagnostics market size was valued at $2,994.12 million in 2022 and is projected to reach $ 6,252.92 million by 2030, growing at a CAGR of 8.19%. Growing chronic diseases like dementia, investment in biomarkers for drug development, robust pipeline for drug development are the factors driving this market.
Recent Developments
In Jun 2023, Quest Diagnostics partnered with Coriell Life Sciences to provide select medical plan members with pharmacogenomics testing services. The test indicates how different genes and their variants affect an individual’s reaction to drugs.
In May 2023, Quest Diagnostics announced that the RestoreU Dementia Panel, a risk assessment and care plan service developed by uMETHOD Health, would be made available nationwide. This would enable doctors to fill in any care gaps for patients with cognitive decline. The RestoreU service makes use of artificial intelligence created by uMETHOD to build personalized care plans that support cognitive care standards and aid clinicians in providing better patient care.
Price Performance
Shares of the company have gained 4.9% in the past year against the industry’s fall of 4.3%.
Zacks Rank
Quest Diagnostics carries a Zacks Rank #3 (Hold).
Key Picks
some other better-ranked stocks in the broader medical space are Hologic, Inc. (HOLX) ,Health Equity, Inc. (HQY - Free Report) and Boston Scientific Corporation (BSX - Free Report) .
Hologic, carrying a Zacks Rank #2 at present, has an estimated growth rate of 5.1% for fiscal 2024. HOLX’s earnings surpassed estimates in all the trailing four quarters, the average being 27.3%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Hologic has gained 15.4% compared with the industry’s 12.5% rise in the past year.
HealthEquity, sporting a Zacks Rank #1 at present, has an estimated long-term growth rate of 22%. HQY’s earnings surpassed estimates in three of the trailing four quarters and missed once, the average surprise being 9.1%.
HealthEquity has gained 9.5% against the industry’s 13.1% decline over the past year.
Boston Scientific, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 11.5%. BSX’s earnings surpassed estimates in two of the trailing four quarters and missed in the other two, the average surprise being 1.9%.
Boston Scientific has gained 42.3% against the industry’s 20.5% decline in the past year.