Top 20 Diagnostics Companies Based on 2019 Revenue

 Top 20 Diagnostics Companies Based on 2019 Revenue

Top 20 Diagnostics Companies Based on 2019 Revenue

Diagnostics has emerged as one of the largest and fastest-growing segments with evolving diseases. The segment has played a vital role in diagnosing growing and ageing global population with increasing health expenditure and more prevalent lifestyle ailments including obesity, cancer, and cardiovascular diseases. Our team at PharmaShots has compiled a list of top 20 diagnostics companies based on their 2019 diagnostics revenue.

According to the 2018 list, the top three companies were Roche along with Philips and Abbott with which generated revenue of $13.08B, $8.10B, and $7.49B, respectively. The list of 2019 has affected a lot of companies in their position. This year Siemens is at 1st rank in 2019, following GE Healthcare and Roche has generated revenue of $15.83B, $14.64B, and $13.38B, respectively. GE Healthcare struggled to reach the second position which stood fifth in 2018. Unfortunately, Roche showed a decline in its diagnostic revenue along with position from the first position to third in 2019 reflected a difference of $2.45B to Siemens. LabCorp generated diagnostic revenue of $7B and stood on the fifth position. Danaher generated revenue of $6.56B and reached on the sixth position showing an increment of $0.21B.

You can also get a PDF version of this report by contacting through email at shiwani@pharmashots.com.

Diagnostic Revenue: $0.59B                                                         Total Employees: ~2,000

Founded Year: 2017                                                                       Stock Exchange: NASDAQ

Market Cap: ~$0.67B                                                                      Headquarters: Utah, US

Varex Imaging is a designer and manufacturer of X-ray imaging components including X-ray tubes, digital detectors, and other image processing solutions. In Mar 2019, Varex acquired Direct Conversion AB for $83.7M to strengthen Varex’s diagnostics imaging services with the addition of linear array digital detector products. 

Diagnostic Revenue: $0.79B                                                          Total Employees: ~1,939

Founded Year: 1968                                                                         Stock Exchange: BIT  

Market Cap: ~$10.45B                                                                      Headquarters: Saluggia, Italy

DiaSorin is an Italian in-vitro diagnostics firm and is involved in developing, producing, and commercializing diagnostic tests for a wide range of clinical areas. The tests are designed for hospital and private testing laboratories, in the markets of immunodiagnostics and molecular diagnostics which are used to identify biological components aimed at determining the presence of specific elements in the patient’s blood sample. In Jan 2019, DiaSorin launched LIAISON Calprotectin test post it was approved by the US FDA.

Diagnostic Revenue: $0.82B                                                      Total Employees: ~24,016

Founded Year: 1940                                                                        Stock Exchange: BME 

Market Cap: ~$18.96B                                                                  Headquarters: California, United States

Grifols is a global healthcare company dedicated to improving the health and well-being of people around the globe and is divided into four divisions- Bioscience, Diagnostic, Hospital, and Bio Supplies. The company focusses on developing therapies for rare, chronic, and life-threatening conditions. In Jan 2019, Grifols signed a license agreement with Rigel Pharmaceuticals to commercialize fostamatinib disodium hexahydrate in all potential future indications in the EU and Turkey. In Sep 2019, Grifols signed an agreement with Mondragon to jointly develop healthcare sector-related automation, robotics, and instrumentation as well as other technologies and infrastructure.

Diagnostic Revenue: $0.87B                                                            Total Employees: ~4,110

Founded Year: 1995                                                                            Stock Exchange: NASDAQ  

Market Cap: ~$13.89B                                                                       Headquarters: Madison, Wisconsin

Exact Sciences Corporation is a molecular diagnostics company focused on the early detection and prevention of some of the deadliest forms of cancer. The company has an accurate, non-invasive, screening test called Cologuard, used for the detection of colorectal cancer and precancer. In Jun 2019, the company built its new clinical laboratory focusing to fight against Colorectal Cancer. In Aug 2019, Exact presented data from its blood-based test for the detection of hepatocellular carcinoma and received the US FDA’s Breakthrough Device Designation.

Diagnostic Revenue: $0.95B                                                          Total Employees: ~72,332

Founded Year: 1934                                                                         Stock Exchange: TYO

Market Cap: ~$23.81B                                                                     Headquarters: Tokyo, Japan

Fujifilm Medical is a leader in diagnostic imaging products and medical informatics solutions and is divided into three business categories: Imaging Solutions, Healthcare & Material Solutions, and Document Solutions. In Jul 2019, Fujifilm Sonosite signed an agreement with Partners HealthCare with the focus to apply AI to improve the utility and functionality of portable ultrasound. Additionally, in Jul 2019, the company collaborated with Axcelead Drug Discovery to develop novel drug efficacy evaluation methods and toxicity testing using iPSCs based platform for drug discovery solutions.

Diagnostic Revenue: $1.10B                                                         Total Employees: ~49,567

Founded Year: 1873                                                                         Stock Exchange: TYO

Market Cap: ~$1.95B                                                                      Headquarters: Tokyo, Japan

Konica Minolta is the global developer, manufacturer of multi-functional peripherals (MFPs), equipment for production print systems and graphic arts, equipment for healthcare systems, measuring instruments for healthcare applications, and related consumables and solution services. The company also makes medical and graphic imaging products, such as X-ray image processing systems, colour proofing systems, and X-ray film; photometers, 3-D digitizers, and other sensing products

Diagnostic Revenue: $2.31B                                                         Total Employees: ~8,120

Founded Year: 1952                                                                        Stock Exchange: NYSE

Market Cap: ~$13.43B                                                                    Headquarters: California, US

Bio-Rad is a leading healthcare industry involved in blood typing products, offering a wide variety of platforms, reagents, data management, and connectivity solutions. In Apr 2019, Bio-Rad’s BioPlex 2200 Lyme Total Assay received the US FDA’s approval for aiding in the diagnosis of Lyme disease. Additionally, in Feb 2019, Bio-Rad receives the US FDA’s clearance for the Ih-500, expanding its offering for the blood testing market.

Diagnostic Revenue: $2.61B                                                          Total Employees: ~6,478

Founded Year: 1986                                                                          Stock Exchange: NASDAQ

Market Cap: ~$13.43B                                                                      Headquarters: Massachusetts, US          

Hologic is a medical technology company primarily focused on women’s health, beauty products development, and marketing medical devices for surgery and medical imaging. Hologic is acquiring SuperSonic Imagine, a French-based company for its Ultrasound products, which will further strengthen its breast health portfolio with best-in-class technology used for diagnosing cancer in women with dense breasts. In Jun 2019, Hologic acquired SuperSonic Imagine for $85M, with the focus to strengthen its diagnostics and surgical solutions in breast health. In Nov 2019, Hologic’s LOCalizer radiofrequency identification (RFID) received CE Mark for the expansion of its use in long-term placement in breast lesions which are implanted 30 days prior for greater flexibility and convenience to patients and providers.

Diagnostic Revenue: $2.80B                                                          Total Employees: ~9,000

Founded Year: 1968                                                                         Stock Exchange: TYO

Market Cap: ~$15.87B                                                                      Headquarters: Kobe, Japan

Sysmex is a Japanese firm involved in the development, manufacturing, sales, and export/import of diagnostic instruments, reagents, and related software. In Mar 2019, Sysmex reported the launch of Caresphere LWS a laboratory information system for enhancing the efficiency of clinical testing. In Nov 2019, Sysmex and OPTiM signed an agreement to establish a joint venture for accelerating and commercializing digital medicine to support next-generation healthcare and diagnostics.

Diagnostic Revenue: $3.00B                                                         Total Employees: ~12,000

Founded Year: 1963                                                                        Stock Exchange: EPA

Market Cap: ~$15.11B                                                                    Headquarters: Marcy-l’Étoile, France

BioMerieux develops and produces in-vitro diagnostic solutions like systems, reagents, software, and services for private and hospital laboratories, mainly for the diagnosis of infectious diseases. BioMerieux provides diagnostic solutions (systems, reagents, software) which determine the source of diseases and contamination to improve patient health and ensure consumer safety. Its products are mainly used for diagnosing infectious diseases and for detecting microorganisms in agri-food, pharmaceutical, and cosmetic products. In Feb 2019, BioMerieux acquired Invisible Sentinel for $75M, which will further strengthen its position in food pathogen testing and spoilage organism detection. In late 2019, BioMerieux submitted the BIOFIRE Blood Culture Identification 2 (BCID2) Panel to the US FDA for 510(k) clearance aimed for bloodstream infections.

Diagnostic Revenue: $3.71B                                                          Total Employees: ~75,000

Founded Year: 1902                                                                         Stock Exchange: NYSE 

Market Cap: ~$139.34B                                                                  Headquarters: Massachusetts, US

Thermo Fisher is globally serving its primary brands: Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services. The company has four main segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services. Thermo Fisher’s Specialty Diagnostics Segment has five primary business– Clinical Diagnostics, ImmunoDiagnostics, Microbiology, Transplant Diagnostics, and Healthcare Market Channel, offering a variety of diagnostic test kits, reagents, culture media, and instruments. In Apr 2019, the company acquired Brammer Bio for $1.67B in cash for the expansion of its contract manufacturing capabilities. In Jun 2019, Thermo Fischer sold its Anatomical Pathology business to PHC Holdings Corporation for $1.14B.

Diagnostic Revenue: $4.03B                                                         Total Employees: ~1,87,041

Founded Year: 1937                                                                         Stock Exchange: TYO 

Market Cap: ~$28.29B                                                                    Headquarters: Tokyo, Japan

Canon is a Japanese multinational corporation specialized in the manufacturing of imaging and optical products, including cameras, camcorders, photocopiers, steppers, computer printers, and medical equipment. Canon Medical’s next-generation 3-Tesla MRI scanner, the Vantage Galan 3T, maximizes high-resolution imaging performance while minimizing space requirements and energy consumption. The device also employs noise-reduction technology to provide greater comfort to patients. In 2019, Canon signed an agreement with R-Pharma Holding to expand its footprints in Russia with the sales of medical diagnostic imaging equipment. 

Diagnostic Revenue: $4.30B                                                        Total Employees: ~70,093

Founded Year: 1895                                                                       Stock Exchange: NYSE

Market Cap: ~$68.72B                                                                   Headquarters: New Jersey, United States

BD is a global medical technology company engaged in the development, manufacture, and sale of a broad range of medical supplies, devices, laboratory equipment and diagnostic products for physicians, life science researchers, clinical laboratories, the pharmaceutical industry, and the general public. In Sep 2019, BD partnered with global organizations to support diagnostic testing for antimicrobial resistance (AMR).

Diagnostic Revenue: $4.65B                                                             Total Employees: ~107,000

Founded Year: 1900                                                                           Stock Exchange: NYSE

Market Cap: ~$163.02B                                                                     Headquarter: Illinois, United States

Abbott Laboratories is an American healthcare company with a broad pipeline of generics, diagnostic, natural products, cardiovascular and neuromodulation products. Diagnostic segment is divided into four divisions Rapid Diagnostics, Molecular Diagnostics, Core Laboratory Diagnostics, Diabetes Care. In Jun 2019, Abbott launched its Afinion HbA1c Dx is a rapid point-of-care available for use on the Afinion 2 Analyzer & Afinion AS100 Analyzer to aid health care professionals in the diagnosis of diabetes. In Jul 2019, Abbott’s MitraClip G4 received the US FDA’s approval to treat Mitral Regurgitation. Additionally, in Jul 2019, Abbott’s Alinity S System Receives FDA’s approval for blood and plasma screening in the US.

Diagnostic Revenue: $6.56B                                                       Total Employees: ~60,000

Founded Year: 1969                                                                      Stock Exchange: NYSE

Market Cap: ~$122.26B                                                                Headquarter: Washington, D.C, US      

Danaher Corporation designs manufacture and markets professional, medical, industrial, and commercial products and services. The company has a focus on Life Sciences, Diagnostics, Dental, and Environmental & Applied Solutions. In Feb 2019, Danaher acquired the Biopharma Unit of GE LifeScience for $21.4B with the focus to strengthen & advance Danaher’s life science portfolio using GE’s bioprocessing technologies in developing therapies.

Diagnostic Revenue: $7.00B                                                          Total Employees: ~80,495

Founded Year: 1971                                                                         Stock Exchange: NYSE

Market Cap: ~$17.02B                                                                     Headquarter: North Carolina, US

LabCorp is a leading global life sciences company targeting in guiding patient care. In 2019, LabCorp launched lab-based data reports regarding Insight Analytics which supports organizations in the efficient use of laboratory testing and the enhanced management of patients with chronic conditions such as diabetes, chronic kidney disease, and cardiovascular disease. In Jun 2019, LabCorp and Mount Sinai Health System collaborated to establish a digital and AI-enabled pathology centre of excellence supporting greater efficiency and improvement for patient care. In 2019, LabCorp announced an expansion of its Pixel by LabCorp platform allowing the consumers to purchase testing online, visit a convenient LCD PSC for specimen collection by a phlebotomist, and receive confidential results through a secure online portal.

Diagnostic Revenue: $9.52B                                                          Total Employees: ~80,495

Founded Year: 1891                                                                          Stock Exchange: NYSE

Market Cap: ~$41.92B                                                                     Headquarter: Amsterdam, Netherlands        

Philips Healthcare has focused on research and development efforts to develop new approaches in the areas of radiology, cardiology, oncology, decision support, home health, respiratory, and other critical areas. Its parent company, Royal Philips is a diversified company focusing on improving public health with meaningful innovation offering treatments at a lower cost. Philips Healthcare@home providing a wide range of healthcare services at the patient’s home with the help of experienced and certified in Basic Life Support (BLS) professionals. In Aug 2019, Philips collaborated with Lindacare for the remote monitoring of patients with cardiac implantable electronic devices. In 2019, Philips introduced its next-generation IntelliVue MX750 and MX850 bedside patient monitor platforms in the EU.

Diagnostic Revenue: $13.38B                                                      Total Employees: ~98,000

Founded Year: 1896                                                                       Stock Exchange: SWX

Market Cap: ~$305.69B                                                                 Headquarter: Basel, Switzerland

Roche is a Swiss multinational healthcare company operating worldwide under pharmaceuticals and diagnostics divisions. Roche focusses on multiple therapy areas including ophthalmology, oncology, and immunology. The Diagnostics segment of Roche is divided into four segments: Molecular Diagnostics, Diabetes Care, Tissue Diagnostics, Centralized, and Point of Care Solutions. In Dec 2019, Roche launched its Cobas Zika blood screening test for the detection of Zika virus RNA. Additionally, in Dec 2019, Roche received CE Mark for its Accu-Chek SugarView app which examines blood glucose range using the Accu-Chek Active test strip including two photos taken off the strip with a smartphone camera.

Diagnostic Revenue: $14.64B                                                         Total Employees: ~2,05,000

Founded Year: 1878                                                                          Stock Exchange: NYSE

Market Cap: $66.57B                                                                         Headquarters: Massachusetts, US

GE Healthcare is a leading global wholly owned subsidiary of General Electric Company focused on the development, manufacturing, and commercialization of healthcare technologies. The portfolio provides solutions and products in the diagnosis, treatment, and monitoring of patients. The company has +4M imaging, mobile diagnostics, and monitoring units installed globally in 43 global centers. GE Healthcare also has an AI-based technology for MR slice presentation using artificial neural networks delivering consistent and accurate scans. In Dec 2019, the company signed an R&D and distribution agreement with Advanced Solutions for personalized tissue regeneration. Additionally, in Dec, Affidea and GE Healthcare signed a multi-year agreement to deploy imaging and digital technologies.

Diagnostic Revenue: $15.83B                                                      Total Employees: ~38,500

Founded Year: 1847                                                                       Stock Exchange: ETR

Market Cap: $98.73                                                                       Headquarters: Munich, Germany

Siemens Healthineers is a subsidiary of Siemens AG, a diagnostic company focused on the development of diagnostic, therapeutic imaging, laboratory diagnostics, molecular medicine, digital health services, and enterprise services. In Mar 2019, Red Cross Hospital signed a ten-year agreement with Siemens Healthineers for the new heart centre focusing on the cardiovascular continuum for the prevention of the early detection, treatment, and follow-up of cardiovascular diseases. In Dec 2019, Siemens’ launched an AI-based assistant for magnetic resonance for imaging the body regions of the brain and prostate to ease routine activities for radiologists and improve the quality of care of patients.

Source: Company annual reports, SEC filings, press releases, and company websites

Market Cap source: Google finance (as on 11th Jun 2020)

All revenues are reported in USD.

Related Post : Top 20 Diagnostics Companies Based On 2018 Revenue

Shiwani Sharma

Shiwani Sharma is a Senior Editor at PharmaShots. She has in-depth knowledge of lifesciences industry including pharma and biotech sectors. She also covers news in field of Digital Health, Medtech and regulatory approvals from the US FDA, EU, and other global regulatory bodies in the industry. Additionally, she also writes Whitepapers, analysis reports, blogs on pharma and biotech industry. She is graduate in Biotechnology. She can be contacted on shiwani@pharmashots.com

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