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Thermo Fisher Scientific, Inc. (TMO - Free Report) recently unveiled Diomni Enterprise Software to assist streamline regular diagnostics testing for standardization and quicker time-to-results. The latest launch will address issues with error-prone, manual molecular testing procedures.
The recent development will fortify Thermo Fisher’s Laboratory Products and Biopharma Services.
More on Diomni Enterprise Software
The Diomni Enterprise Software can be utilized by a variety of labs performing routine quantitative polymerase chain reaction (qPCR) diagnostic tests and by developers to enhance the speed of advancement for emerging testing solutions.
When labs, equipment, assays and LIS are combined on a single system, traceability of samples and reagents throughout the sample path can be improved. Additionally, multiple individual users can access assay templates and results concurrently. Diomni Enterprise provides a wide range of testing procedures, including tools and assays for in vitro diagnostics and research-use only.
Significance of Diomni Enterprise Software
The new Diomni Enterprise Software makes it simple to work collaboratively. The company can schedule runs, manage previous tests and documentation and efficiently analyze fluorescence curves without the need to install specialized software.
Image Source: Zacks Investment Research
To increase the productivity of qPCR operations, Diomni Enterprise Software effortlessly connects each individual processing stage to a single, integrated platform. By automating the interaction with current laboratory information systems (LIS) for more efficiency and traceability, Diomni Enterprise Software enables labs to function at their peak efficiency.
Industry Prospects
Per a report by Precedence Market Research, the global molecular diagnostics market size was estimated at $12.7 billion in 2021 and is expected to hit around $48.9 billion by 2030 with a registered CAGR of 16.16%. The increase in the geriatric population globally and an increase in the attracting numerous diseases has led to a growth in the market.
Recent Developments
This month, Thermo Fisher entered into a definitive agreement to acquire the leading biotechnology company, CorEvitas, LLC. The companies share the culture and commitment led by science and mission, to drive innovation and improve patient outcomes. The strategic addition of CorEvitas is highly complementary to Thermo Fisher’s leading clinical research business, PPD. With approximately 300 employees, operational momentum and strong leadership, CorEvitas, is well-positioned to grow its revenues organically in the low double digits, with projected revenues of $110 million in 2023.
In June 2023, TMO launched the OncoPro Tumoroid Culture Medium Kit to accelerate the development of novel cancer therapies. This is the first commercially-available culture medium specifically developed for the expansion of patient-derived tumoroids or cancer organoids, from multiple cancer indications.
Price Performance
In the past six months, TMO shares have declined 2% against the industry’s rise of 14.3%.
Zacks Rank and Key Picks
Thermo Fisher currently carries a Zacks Rank #3 (Hold).
Some other better-ranked stocks in the broader medical space are Hologic, Inc. (HOLX - Free Report) , 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 12.3% compared with the industry’s 14.3% 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 4.5% against the industry’s 15% decline in 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 40.6% against the industry’s 20.2% decline in the past year.
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Thermo Fisher (TMO) Launches Diomni Enterprise Software
Thermo Fisher Scientific, Inc. (TMO - Free Report) recently unveiled Diomni Enterprise Software to assist streamline regular diagnostics testing for standardization and quicker time-to-results. The latest launch will address issues with error-prone, manual molecular testing procedures.
The recent development will fortify Thermo Fisher’s Laboratory Products and Biopharma Services.
More on Diomni Enterprise Software
The Diomni Enterprise Software can be utilized by a variety of labs performing routine quantitative polymerase chain reaction (qPCR) diagnostic tests and by developers to enhance the speed of advancement for emerging testing solutions.
When labs, equipment, assays and LIS are combined on a single system, traceability of samples and reagents throughout the sample path can be improved. Additionally, multiple individual users can access assay templates and results concurrently. Diomni Enterprise provides a wide range of testing procedures, including tools and assays for in vitro diagnostics and research-use only.
Significance of Diomni Enterprise Software
The new Diomni Enterprise Software makes it simple to work collaboratively. The company can schedule runs, manage previous tests and documentation and efficiently analyze fluorescence curves without the need to install specialized software.
To increase the productivity of qPCR operations, Diomni Enterprise Software effortlessly connects each individual processing stage to a single, integrated platform. By automating the interaction with current laboratory information systems (LIS) for more efficiency and traceability, Diomni Enterprise Software enables labs to function at their peak efficiency.
Industry Prospects
Per a report by Precedence Market Research, the global molecular diagnostics market size was estimated at $12.7 billion in 2021 and is expected to hit around $48.9 billion by 2030 with a registered CAGR of 16.16%. The increase in the geriatric population globally and an increase in the attracting numerous diseases has led to a growth in the market.
Recent Developments
This month, Thermo Fisher entered into a definitive agreement to acquire the leading biotechnology company, CorEvitas, LLC. The companies share the culture and commitment led by science and mission, to drive innovation and improve patient outcomes. The strategic addition of CorEvitas is highly complementary to Thermo Fisher’s leading clinical research business, PPD. With approximately 300 employees, operational momentum and strong leadership, CorEvitas, is well-positioned to grow its revenues organically in the low double digits, with projected revenues of $110 million in 2023.
In June 2023, TMO launched the OncoPro Tumoroid Culture Medium Kit to accelerate the development of novel cancer therapies. This is the first commercially-available culture medium specifically developed for the expansion of patient-derived tumoroids or cancer organoids, from multiple cancer indications.
Price Performance
In the past six months, TMO shares have declined 2% against the industry’s rise of 14.3%.
Zacks Rank and Key Picks
Thermo Fisher currently carries a Zacks Rank #3 (Hold).
Some other better-ranked stocks in the broader medical space are Hologic, Inc. (HOLX - Free Report) , 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 12.3% compared with the industry’s 14.3% 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 4.5% against the industry’s 15% decline in 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 40.6% against the industry’s 20.2% decline in the past year.