VCYT - Better Long-Term Buy in 2023: Exact Sciences or Veracyte?
Veracyte (NASDAQ: VCYT) and Exact Sciences (NASDAQ: EXAS) focus on genomic tests to diagnose various cancers. It's an area that is expanding wildly. A report by BIS Research puts the molecular cancer diagnostics market at $4.1 billion in 2022 but with a compound annual growth rate (CAGR) of 11.4% through 2032, reaching a $12.1 billion market by that time.
Cancer is formed by changes to the genome in a body's cells, leading to uncontrollable growth. DNA mutations in the genome that cause cancer can be detected by comparing them to normal genomes. Increasingly, the tests to determine cancer are becoming less invasive, using blood and other tissue samples. Medicare and insurance companies are becoming more willing to cover the tests because early detection will save lives and medical expenses.
Veracyte and Exact Sciences are riding the wave of expanded genomic oncology testing, but which one is a better long-term stock? Let's take a look.
For further details see:
Better Long-Term Buy in 2023: Exact Sciences or Veracyte?