Precision diagnostics are disease diagnosis methods that help to understand the patient’s condition in a detailed and precise manner. It enables medical professionals to carry out treatment procedures in an effective manner. It is used to help patients suffering from diabetes, cancer, and other disorders using esoteric tests, genetic tests, and others.
Quest Diagnostics and Qiagen N.V.- Notable Market Players in Precision Diagnostics Market
Leading companies operating in the precision diagnostics market have undertaken various organic and inorganic growth strategies. The precision diagnostics market majorly comprises of Quest Diagnostics Incorporated; QIAGEN; Swiss Precision Diagnostics GmbH; Koninklijke Philips N.V.; Lantheus Medical Imaging, Inc.; Siemens Healthineers AG; Abbott; Novartis AG; Sanofi; and Bayer AG; among others. The companies have been implementing various strategies that have helped them in their growth and, in turn, brought about several breakthroughs and transitions in the industry. The companies have utilized organic strategies such as launches, and product approvals. Moreover, the market players have also deployed several utilized inorganic strategies, including mergers & acquisitions, partnerships, and collaborations.
Below are the major growth strategies undertaken by the players operating in the global precision diagnostics market:
| Year | News |
| May-2022 | The USFDA cleared Abbott’s next generation FreeStyle Libre 3 system for use by people four years and older living with diabetes. Patients will be able to monitor their health every minute with the world’s smallest and thinnest sensor and most accurate 14-day continuous glucose monitoring system. |
| Mar- 2022 | Bayer planned to strengthen their Pharmaceutical’s production network globally by investing around 2 billion Euro for their manufacturing and supply chain capabilities. |
| Dec-2021 | The liquid biopsy-based Target Selector NGS Lung Panel test developed by Biocept, Inc. aids genomic profiling in patients with advanced non-small cell lung cancer (NSCLC), which help physicians to identify potential targeted therapies and monitor the potential targeted therapies and monitor the effectiveness of treatment. This test can be ordered directly from Quest Diagnostics. |
| Nov-2021 | The liquid biopsy-based Target Selector NGS Lung Panel test developed by Biocept, Inc. aids genomic profiling in patients with advanced non-small cell lung cancer (NSCLC), which help physicians to identify potential targeted therapies and monitor the potential targeted therapies and monitor the effectiveness of treatment. This test can be ordered directly from Quest Diagnostics. |
