Diagnostic Market Quick Look
Few of the areas that remained the talk of the diagnostics market include IPO filings, Funding, Product Launches, Bite from Reimbursement, Merger and Acquisitions.
While the diagnostic industry has been troubled by reimbursement pressures, and a general perception of innovation stagnancy prevailed,GE Healthcare launched its product Vizamyl to address imaging requirement of patients worldwide.Other player who added FDA approved diagnostic test in recent past include Abbott.
IPO filing was also in talks in the month of April, where some of the companies that need a special mention include Ariosa Diagnostics and Alere’s Subsidiary BBI Diagnostics.In the recent news release prenatal test outfit Ariosa seems uncertain about their call, and we can just wait and watch on the final head count of diagnostic companies that went public in this month.
On the M&A front, torch bearers include Quest with Summit Acquisition and Roche with IQuum.
As far as funding outlook for the diagnostics industry it remained good as before with close to 5 companies receiving funding for their products at various phases. Companies which were talked and discussed in the space of funding include Adaptive Bio technologies, Exact Sciences, Integrated Diagnostics, Guardant health.
At the reimbursement area Myriad finally was relieved to hear the CMS move on BRCA test which CMS scaled up in terms of coverage from USD 1438 to USD 2184.