1 Huge Growth Market You've Probably Overlooked

By Dan Carroll – Oct 26, 2013 at 4:35PM

NYSE: JNJ

Johnson & Johnson

Market Cap

$359B

Today's Change

(0.35%) $0.52

Current Price

$149.64

Price as of April 23, 2024, 9:31 a.m. ET

Diagnostics have been taking off around health care, from fast risers like Illumina to tried-and-true companies like Thermo-Fisher. Don't miss out on this health boom.

Biotech has long taken the spotlight in the health care sector as the premier market for growth investors, but it's hardly the only idnustry lighting up Wall Street's eyes with green. The diagnostics market might not be a glamour pick, but it's boomed in recent quarters -- and it's shown no signs of slowing down in the midst of the third quarter's earnings season.

Diagnostic leaders Thermo-Fisher (TMO 3.20%) and Illumina (ILMN 0.62%) both recently reported strong earnings reports that delivered high-powered sales growth and impressed investors. Even health care's giants have capitalized on the diagnostics boom, as Abbott Labs (ABT -0.20%) saw its own diagnostics unit lead all its businesses in sales growth this past quarter.

But can this market keep soaring in the future? In the video below, Fool contributor Dan Carroll tells you the inside scoop on how the diagnostics market is booming this earnings season and whether you can make money on this industry's bright future.

Fool contributor Dan Carroll has no position in any stocks mentioned. The Motley Fool recommends Illumina, Johnson & Johnson, and Thermo Fisher Scientific. The Motley Fool owns shares of Johnson & Johnson. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.