Top 20 Diagnostic Companies of 2024 

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Top 20 Diagnostic Companies of 2024 


  • Propelled by unceasing innovations and inch-perfect precision, the diagnostic industry is advancing at an astonishing pace 
  • In 2023, the global diagnostic test market size was valued at $210.58B and is envisioned to reach $284.38B by 2033, registering a CAGR of 3.05 percent from 2024 to 2033. Roche reclaims its first position with a revenue of $16.76B, followed by GE Healthcare and Abbott Laboratories with $16.34B and $9.98B, respectively 
  • PharmaShots brings a concise report on the top 20 diagnostic companies based on 2023 revenue 




Total 2022 Revenue    

Total 2023 Revenue     

Percentage Change     





GE Healthcare 




Abbott Laboratories 




Philips Healthcare 








Quest Diagnostics 




Fujifilm Medical 




Becton-Dickinson and Company 




Siemens Healthineers 





Thermo Fisher Scientific 















IDEXX Laboratories 




















Bio-Rad Laboratories 



















Note: Columns 1 and 2 represent ranks and companies while Columns 3, 4, & 5 showcase the Total revenue of 2022, the Total revenue of 2023, and the Percentage Change 


20. SGS 

Total Revenue: $1.01B 

Founded Year: 1878 

Total Employees: 99,600 

Headquarters: Geneva, Switzerland 

Market Cap: $17B 

Stock Exchange: SWX 

  • SGS is a Swiss multinational company that provides services including inspection, verification, testing, and certification  
  • SGS operates in five business segments viz. Connectivity & Products, Health & Nutrition (H&N), Industries & Environment, Natural Resources, and Business Assurance. In 2023, the company registered an increase in its revenue by 5.20% as compared to 2022. The increase in revenue can be attributed to the rise in sales in the Health & Nutrition segment 
  • In 2023, SGS CPU, Belgium, and Vaccinopolis, University of Antwerp, Belgium, collaborated to standardize human challenge trials  


19. DiaSorin 

Total Revenue: $1.26B 

Founded Year: 1968 

Total Employees: ~3,200 

Headquarters: Saluggia, Italy 

Market Cap: $5.96B 

Stock Exchange: BIT 

  • An Italian multinational biotech company, DiaSorin produces and commercializes in vitro diagnostics reagent kits used in immunodiagnostics and molecular diagnostics   
  • DiaSorin operates in three business segments viz. Immunodiagnostics, Molecular Diagnostics, and Licensed Technologies. LIAISON XL is among the company’s well-known products in the market. In 2023, DiaSorin's revenue declined by 13.69% as compared to 2022, due to a decrease in COVID-19 tests   
  • In Jul’23, DiaSorin launched LIAISON Legionella Urinary Antigen Immunodiagnostic Assay to diagnose Legionnaires’ Disease (LD) 


18. Revvity 

Total Revenue: $1.45B 

Founded Year: 1937 

Total Employees: 11,500 

Headquarters: Massachusetts, United States 

Market Cap: $13.97B 

Stock Exchange: NYSE 

  • Formerly known as PerkinElmer, Revvity is an American company that focuses on the development of cell therapy or gene therapy 
  • Revvity divides its business into life sciences and diagnostics. The company develops several products, including EnVision XCite and VICTOR Nivo. In 2023, the company witnessed a dip in its revenue by 27.86% as compared to 2022, owing to less demand for COVID-19 products  
  • In 2023, Revvity launched UNIQO 160 (CE-IVDR), an automated indirect immunofluorescence test (IIFT) system for autoimmune disease diagnostics  


17. Bio-Rad Laboratories 

Total Revenue: $1.48B 

Founded Year: 1952 

Total Employees: ~8,000 

Headquarters: Hercules, California 

Market Cap: $8.28B 

Stock Exchange: NYSE  

  • Bio-Rad Laboratories is an American company that develops, manufactures, and markets products for the life science research and clinical diagnostics markets   
  • Life Science and Clinical Diagnostics (Test systems, Informatics systems, Test kits, and specialized quality controls) are the two business segments in which the company operates. Droplet Digital is among several products of Bio-Rad. In 2023, the company registered a spike of 2.06% in revenue as compared to 2022. The rise in sales can be attributed to the increased sales of diagnostic testing systems 
  • In 2023, Bio-Rad Launched IH-500 NEXT, a fully automated system for ID-Cards  


16. Bruker 

Total Revenue: $2.96B 

Founded Year: 1960 

Total Employees: ~8,500 

Headquarters: Massachusetts, United States 

Market Cap: $11.38B 

Stock Exchange: NASDAQ 

  • Bruker manufactures, distributes, and provides scientific instruments for molecular and materials research and diagnostic solutions   
  • The company operates in four business segments viz. Bruker Scientific Instruments (BSI) BioSpin, BSI CALID, BSI Nano, and Bruker Energy & Supercon Technologies. The company produces products like CBRNE Detectors, Elemental Analyzers, and more. In 2023, the company's revenue increased by 16.99% as compared to 2022, due to strong sales in BSI BioSpin, BSI CALID, BSI Nano, and BEST 
  • In 2023, Bruker introduced new mycobacteria and fungi IVD solutions for MALDI Biotyper and LiquidArray gastrointestinal syndromic panel  


15. QuidelOrtho 

Total Revenue: $2.99B 

Founded Year: 1979 

Total Employees: 7,100 

Headquarters: California, United States 

Market Cap: $2.85B 

Stock Exchange: NASDAQ 

  • A US-based diagnostic company, QuidelOrtho manufactures and distributes diagnostic healthcare products and operates globally in in-vitro diagnostics   
  • Labs, Molecular Diagnostics, Point of Care, and Transfusion Medicine are the four business segments that the company operates under. ELVIS HSV Test System and FreshCells Cell Culture are the company's marketed products. In 2023, QuidelOrtho's total revenue decreased by 8.28% vs. 2022, mainly driven by low sales in point-of-care and molecular diagnostics  
  • In 2023, QuidelOrtho received the US FDA 510(K) clearance for the Savanna PCR platform and Savanna HSV 1+2/VZV in-vitro diagnostic test  


14. Sysmex Corporation  

Total Revenue: $3.10B 

Founded Year: 1968  

Total Employees: ~10,500  

Headquarters: Kobe, Japan   

Market Cap: $10.91B 

Stock Exchange: TYO 

  • Known for hematology, Sysmex Corporation is a Japan-based company that engages in healthcare business and serves globally   
  • The company mainly works in the in-vitro diagnostics-hematology field. Some of the company's well-known products in the US are XN-9100, RU-20, BT-50, and more. In 2023, the company registered an increase of 0.64% as compared to 2022, due to increased sales in hematology  
  • In 2023, Sysmex launched a point-of-care testing system in Europe that detects antimicrobial susceptibility rapidly  


13. IDEXX Laboratories 

Total Revenue: $3.66B 

Founded Year: 1983   

Total Employees: 11,000   

Headquarters: Westbrook, United States  

Market Cap: $42.78B  

Stock Exchange: NASDAQ 

  • IDEXX is a global American company that focuses on the companion animal, cattle, poultry, dairy, and water testing sectors  
  • The company business is spread into three segments Companion Animal Group, Water quality products, Livestock, Poultry, and Dairy. Some of the company's well-known products are Catalyst OneChemistry analyzer and ImageVue DR30 Digital Imaging System. In 2023, the company registered a spike of 8.92% in its revenue as compared to 2022, one of the reasons for the spike is the growth in CAG Diagnostics’ recurring revenue 
  • In 2023, IDEXX announced the Cystatin B test for detecting kidney injury in cats and dogs 


12. Canon 

Total Revenue: $3.92B 

Founded Year: 1937   

Total Employees: ~169,200   

Headquarters: Tokyo, Japan 

Market Cap: $37.72B 

Stock Exchange: TYO 

  • A Japan-based global company, Canon manufactures multifunction devices including imaging products. The company mainly focuses on optical, imaging, and industrial products  
  • Canon operates in four business segments namely; Printing Group, Medical Group, Imaging Group, and Industrial Group. Vantage Galan 3T and INSTINX are some of the well-known products in the Medical Group. In 2023, the revenue increased by 0.25% as compared to 2022 due to high sales of medical devices  
  • In 2023, Canon launched its two compact ultrasound systems Aplio Flex and Aplio Go  


11. Hologic 

Total Revenue: $3.96B 

Founded Year: 1985 

Total Employees: 7,000 

Headquarters: Massachusetts, United States 

Market Cap: $17.46B 

Stock Exchange: NASDAQ 

  • Hologic is an American company that prioritizes women's health and manufactures & develops diagnostics products, medical imaging systems, and surgical products  
  • Hologic operates under three business segments Diagnostics products, Medical imaging systems, and Surgical products. Acessa Laparoscopic Radiofrequency Ablation (Lap-RFA) and Aptima Sexual and Vaginal Health Solutions are some products of the Hologic portfolio. In 2023, the company witnessed a decline of 11.21% in its revenue as compared to 2022, due to low sales of COVID-19-related products  
  • In 2023, Hologic's Aptima Trichomonas vaginalis assay received expanded approval from the US FDA for use with patient-collected vaginal swabs (in clinical settings), female urine, and male urine sample types  



10. Thermo Fisher Scientific  

Total Revenue: $4.40B 

Founded Year: 1956 

Total Employees: 1,22,000 

Headquarters: Massachusetts, United States  

Market Cap: $225.52B 

Stock Exchange: NYSE 

  • Thermo Fisher Scientific is an American provider of analytical equipment, life sciences solutions, specialized diagnostics, laboratory, pharmaceutical, and biotechnology services  
  • Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, Laboratory Products, and Biopharma Services are four areas in which the company operates. Specialty Diagnostics has five primary businesses – Clinical Diagnostics, Immuno Diagnostics, Microbiology, Transplant Diagnostics, and our Healthcare Market Channel. In 2023, the company’s revenue decreased by 7.56% as compared to 2022, majorly driven by low revenue generation in COVID-19 products 
  • In 2023, Thermo Fisher Scientific launched CE-IVD, a marked assay to detect treatment-resistant strains of HIV-1  


9. Siemens Healthineers 

Total Revenue: $4.99B  

Founded Year: 1847 

Total Employees: 71,000 

Headquarters: Forchheim, Germany 

Market Cap:  $66.09B 

Stock Exchange: ETR 

  • Siemens Healthineers is a German healthcare company that provides healthcare equipment, solutions, and services globally. The company focuses on imaging, diagnostics, cancer care, and minimally invasive therapies    
  • Siemens operates under three business segments viz. Imaging, Diagnostics, Varian, and Advanced Therapies. The AVVIGO+ Guidance System and Getinge are among the various products of the company. In 2023, the company's diagnostic revenue declined by 23.23% as compared to 2022 due to low revenue generation in COVID-19 antigen test business 
  • In 2023, Siemens Healthineers introduced the Atellica UAS 60 Analyzer, a Compact Digital Urine Microscope for High-resolution, Digital Urine Microscopy  


8. Becton-Dickinson and Company 

Total Revenue: $5.11B 

Founded Year: 1897 

Total Employees: 75,000 

Headquarters: New Jersey, United States  

Market Cap: $67.76B 

Stock Exchange: NYSE 

  • A global MedTech company, Becton-Dickinson manufactures and commercializes medical devices, instrument systems, and reagents. Additionally, the company provides consulting and analytics services in certain regions    
  • The company focuses on three areas BD Medical, BD Life Sciences, and BD Interventional. BD SurePath and BD Totalys are among the various screening devices. In 2023, the company's revenue declined by 5.01% as compared to 2022 due to low sales of COVID-19 tests 
  • In Dec 2023, BD launched SiteRite 9 Ultrasound system to improve clinician efficiency    


7. Fujifilm  

Total Revenue: $6.91B 

Founded Year: 1934 

Total Employees: ~73,900 

Headquarters: Tokyo, Japan 

Market Cap: $27.25B 

Stock Exchange: TYO 

  • A Japan-based conglomerate, Fujifilm Holdings focuses on photography, optics, office & medical electronics, biotechnology, and chemicals    
  • When it comes to healthcare, the company works in Medical Systems, Life science Solutions, and Bio CDMO. AFP-L3 (lectin-reactive alphafetoprotein) and DCP (des-gammacarboxy prothrombin) tests are some of the well-known diagnostic tests of Fujifilm. In 2023, the company reported a 5.49% increase in its revenue as compared to 2022. The spike in revenue is attributed to strong sales of medical systems  
  • In Aug’23 Fujifilm reported the US FDA 510(k) clearance of its new 1.5 Tesla MRI system, the ECHELON Synergy. The system uses Synergy Deep Learning Reconstruction (DLR) technology powered by AI  


6. Quest Diagnostics 

Total Revenue: $9.25B 

Founded Year: 1967 

Total Employees: 48,000 

Headquarters: New Jersey, United States 

Market Cap: $15.76B 

Stock Exchange: NYSE 

  • Quest Diagnostics is an American clinical laboratory company that works in collaboration arrangements with numerous hospitals and clinics across the world  
  • Diagnostic Information Services and Diagnostic Solutions are the two segments under which the company operates. In 2023, the company's revenue decreased by 6.37% as compared to 2022 due to the decrease in COVID-19 testing  
  • In 2023, Quest Diagnostics introduced transplant diagnostic services allowing anywhere-access (pre- and post-transplant testing) to patients in the US 


5. Danaher 

Total Revenue: $9.57B 

Founded Year: 1984 

Total Employees: 63,000 

Headquarters: Washington, United States  

Market Cap: $197.90B 

Stock Exchange: NYSE 

  • Danaher is an American conglomerate that designs, manufactures, and markets medical, industrial, and commercial products and services    
  • Biotechnology, Life Sciences, and Diagnostics are the three segments in which the company operates. Aldevron and Abcam are among the many assets of Danaher. In 2023, the company's revenue declined by 11.71% as compared to 2022 owing to the low sales of molecular diagnostics tests for COVID-19   
  • In 2023, Danaher announced providing Cepheid's tuberculosis test at the cost of $7.97 each to the Global Fund to Fight AIDS, TB, and Malaria 


4. Philips Healthcare 

Total Revenue: $9.73B 

Founded Year: 1891 

Total Employees: ~69,100 

Headquarters: Amsterdam, Netherlands 

Market Cap: $25.49B 

Stock Exchange: AMS 

  • Philips is a Dutch health technology company that develops and manufactures innovative health and well-being products. The company divides its business into four segments namely, personal health, connected care, diagnostic & treatment, and other    
  • Philips diagnosis & treatment segment consists of Precision Diagnosis and Image Guided Therapy. In 2023, the company's revenue rose by 9.44% vs 2022. The increase in revenue is attributed to the higher sales from the diagnosis & treatment segment  
  • In Jul’23, Philips enrolled the first patient in the US site for the WE-TRUST clinical study, assessing the benefits of a Direct Angio Suite treatment pathway for stroke patients  


3. Abbott Laboratories 

Total Revenue: $9.98B 

Founded Year: 1888 

Total Employees: 1,14,000 

Headquarters: Illinois, United States 

Market Cap: $182.35B 

Stock Exchange: NYSE 

  • Abbott discovers, develops, and manufactures a wide range of healthcare products. The company develops diabetes care products, neuromodulation devices, and several other products for the treatment and diagnosis of cardiovascular diseases  
  • The company operates in four business segments viz. pharmaceutical products, diagnostic products, nutritional products, and medical devices. Abbott provides different diagnostic solutions core laboratory, molecular, point of care & rapid diagnostics, and transfusion medicine. In 2023, the company's revenue declined by 39.36% as compared to 2022, owing to lower sales of tests for COVID-19 
  • In 2023, Abbott received the US FDA approval for HPV test to run on Alinity M  


2. GE Healthcare 

Total Revenue: $16.34B 

Founded Year: 1994 

Total Employees: 51,000 

Headquarters: Chicago, Illinois 

Market Cap: $36.80B 

Stock Exchange: NASDAQ 

  • GE Healthcare delivers MedTech solutions and offers services, including digital infrastructure, data analytics, and decision support tools. In Jan’23, GE Healthcare spun off from its parent company General Electric 
  • Medical imaging, ultrasound, and patient monitoring systems are the company's three business segments. In 2023, the company’s revenue spiked by 6.38% as compared to 2022. The increase in revenue is attributed to the organic growth in Cardiovascular and point-of-care  
  • In Oct’23 SOFIE and GE HealthCare entered into a licensing agreement to develop and commercialize FAP PET radiotracers 


1. Roche 

Total Revenue: $16.76B 

Founded Year: 1896 

Total Employees: 100,000 

Headquarters: Basel, Switzerland 

Market Cap: $210.46B 

Stock Exchange: SWX 

  • Roche is a global multinational healthcare company that discovers, develops, and commercializes therapeutic and diagnostic products 
  • The company operates under two business segments, i.e. Pharmaceuticals and Diagnostics. Under the diagnostic segment, the company offers in vitro diagnostics solutions, covering molecular diagnostics, clinical chemistry, and immunoassays, tissue diagnostics, point-of-care testing, patient self-testing, next-generation sequencing, laboratory automation & IT, and decision support solutions. In 2023, the company revenue showed a decline of 12.57% vs 2022 due to the low demand of COVID-19 products   
  • In 2023, Roche launched Elecsys HBeAg quant for hepatitis diagnostics that will help clinicians diagnose and monitor patients with acute or chronic hepatitis B infection  



  • Annual reports  

  • SEC Filings  

  • Press releases  

  • Company websites  

Market Cap Source: Google Finance (May 2024)  

Currency Conversion: X-Rates (May 2024)  

Related Posts: Top 20 Diagnostics Companies Based on 2022 Total Revenue 


Prince Giri

An avid reader and a dedicated learner, Prince works as a Content Writer at PharmaShots. Prince possesses an exceptional quality of breaking down the barriers of words by simplifying the terms in digestible chunks to make content readable and comprehensible. Prince likes to read books and loves to spend his free time learning and upskilling himself.

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