While only two weeks of the first quarter of 2020 could truly be said to be under the grip of the U.S. portion of the COVID-19 pandemic and associated social distancing, companies with molecular diagnostic divisions reported a variety of positive results. Kalorama expects further growth in the sector in Q2 reports and some tail off as immunoassay tests replace molecular, per Kalorama’s most recent report – COVID-19 Update: Impact on Molecular Markets…
We expect further growth in the sector in Q2 reports and some tail off as immunoassay tests replace.
- Abbott Molecular Division (represents the m2000 SARS-CoV-2 Test) up 30%; Rapid Diagnostics (molecular point of care and other tests, including ID NOW test) up 5.7%. Large increase in shipments of m2000 test reported. Quarter reflected only a few days of ID NOW availability.
- Hologic Molecular Diagnostics revenue increased 13.6%, or 14.2% in constant currency, the division’s highest growth rate since 2012. This included $3.4 million of sales from the Company’s Panther Fusion SARS-CoV-2 assay.
- Roche Molecular Diagnostics posted over 20% growth due to COVID-19. Telling for other parts of the business: Centralized and point-of-care , decreased 6 percent, its immunodiagnostics business declined 4 percent. Clinical chemistry sales were flat.
Smaller companies benefited from the general trend of positive results for COVID-19 testing increases.
- Twist Bioscience reported that revenues were up 42% – The company launched methylation product for next-generation sequencing.
- T2 Biosystems Q1 Revenues Jump 43 Percent – In the quarter T2 signed a licensing agreement for SARS-CoV-2 assay development and a purchasing agreement with Vizient.
- GenMark Diagnostics Q1 Revenues Grow 80 Percent -The company’s revenue growth was driven by increasing sales of its ePlex molecular diagnostics analyzer, which now has a SARS-CoV-2 test.
Companies with life science divisions suffered because of research lab closures. Kalorama covers these trends and more in its report on COVID-19 Impact on Markets. The report can be found here: https://kaloramainformation.com/product/kalorama-covid-19-update-impact-on-molecular-diagnostics-serology-critical-care-tests-vaccines-and-telehealth-markets/