While the COVID-19 pandemic highlighted the importance of the diagnostics and research industry, the sector is expected to continue growing due to the rise in chronic diseases and AI-based innovations. So, we think it could be wise to scoop up the shares of quality diagnostics and research stocks Agilent (A), Mettler-Toledo (NYSE:), Laboratory Corporation of America (NYSE:), and Waters Corporation (NYSE:). Let’s discuss.The resurgence of COVID-19 cases across several parts of the world has been driving the diagnosis and research industry’s growth. Furthermore, according to the CDC, six in 10 Americans live with at least one chronic disease, such as heart disease, stroke, cancer, or diabetes. So, rising chronic disorders are expected to boost the industry’s prospects.
Also, the application of artificial intelligence (AI) in the industry is expected to drive further growth. According to a Grand View Research report, the use of AI in the diagnostics market is expected to grow at a 32.8% CAGR over the next seven years.
Given this backdrop, we think it could be wise to bet on fundamentally strong diagnostics and research stocks Agilent Technologies, Inc. (NYSE:), Mettler-Toledo International Inc . (MTD), Laboratory Corporation of America Holdings (LH), and Waters Corporation (WAT).
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