Top 10 IVD Companies
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Published: August 2024
Driven by the growing demand for personalized healthcare and the increasing prevalence of chronic disorders, the in vitro diagnostic solutions have garnered considerable attention in the healthcare domain. In this article we discover top 10 IVD companies and their capabilities in this industry.
In vitro diagnostics (IVD) are the tests conducted on samples retrieved from the human body, such as blood, saliva or tissue in order to detect diseases or conditions. Such tests help diagnose, monitor, and manage diseases, such as diabetes, infectious diseases, and cancer. The common types of IVD tests include immunoassays, molecular diagnostics, and clinical chemistry tests. Such tests play a crucial role in healthcare by providing timely and accurate information for medical decision-making. IVD solutions are essential tools for screening, diagnosing, and monitoring diseases, ultimately contributing to improved patient outcomes and public health.
According to the World Health Organization, there are over 40,000 in vitro diagnostics products available in the market, highlighting the critical role of diagnostics in healthcare. Further, it is worth mentioning that over 70% of the healthcare decisions are made based on laboratory test results. This can be attributed to the ability of such solutions to offer precise diagnostics and enable early intervention in order to prevent the progression of a disease.
Roots Analysis has conducted an exhaustive study on In Vitro Diagnostics Market featuring the current market landscape and future opportunity for the IVD companies that are engaged in offering in vitro diagnostic solutions, over a span of 12 years.
Table of Contents
Below, we have listed (in alphabetical order), the top 10 IVD companies.
- Abbott
- Agilent Technologies
- Becton Dickinson
- bioMérieux
- Bio-Rad
- Danaher
- DiaSorin
- Roche
- Seegene
- Sysmex
Interested in exploring the global IVD companies and their recent initiatives?
Discover Below the Details on 10 Top IVD Companies
Let us deep dive to understand the activity of the top 10 IVD companies. It is essential to note that the selection of top players can differ substantially according to the defined criteria.
1. Abbott Laboratories
Abbott is a US-based healthcare company which offers a diverse range of diagnostics solutions, including rapid tests, devices and laboratory equipment. The company is engaged in providing advanced diagnostic solutions, catering to both medical professionals and consumers. The company has been renowned for its commitment to innovation and quality in diagnostics. Abbott's global presence spans North America, Europe, and Africa, with over 100 production sites in more than 30 countries. The company claims to offer a variety of molecular diagnostic solutions which can be used to detect / diagnose a number of disease conditions.
Abbott: Company Details
| Particulars | Specifications |
| Company Logo |  |
| Year of Establisment | 1888 |
| Number of Employees | 10,001+ |
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The company’s diagnostic division generated revenues of $9,988 million during full year 2023. 51.7% of the revenues were contributed by the core laboratory segment, equating to $5,159 million. It was also their fastest growing segment, excluding the COVID-19 tests, sales of which have witnessed significant decline post the pandemic.
Recent Initiatives by Abbott Focusing on In Vitro Diagnostics Domain:
- In February 2024, the company entered into an agreement with Fujirebio in order to develop a neurofilament light chain (NLC) biomarker assay.
- In December 2023, the company announced that GLP Systems Track, an automated diagnostic system intended to support high-volume throughput, has received the USFDA approval.
Further details on recent initiatives taken by Abbott as well as other IVD companies have been provided in detail in the report.
2. Agilent Technologies
Agilent Technologies is a US-based bio-analytical solution provider and specializes in providing diagnostic solutions in the life sciences segment. Agilent is a leading global company specializing in life sciences, diagnostics, and applied chemical markets. Its solutions are utilized by a broad range of customers, including academic institutions, clinical laboratories, pharmaceutical companies, biotechnology firms, and government agencies. With a commitment to quality and customer satisfaction, Agilent plays a crucial role in advancing research and development across multiple scientific disciplines, contributing to improvements in health, safety, and environmental sustainability.
Agilent Technologies: Company Details
| Particulars | Specifications |
| Company Logo |  |
| Year of Establisment | 1999 |
| Number of Employees | 10,001+ |
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Recent Initiatives by Agilent Technologies Focusing on In Vitro Diagnostics Domain:
- In April 2024, Agilent received CE mark for its GenetiSure Dx Postnatal Assay based on their proprietary array Comparative Genomic Hybridization (aCGH) technology.
- In February 2024, the company appointed Padraig McDonnell as the Chief Executive Officer and Chief Operating Officer.
- In January 2024, the company entered into a strategic agreement with Incyte in order to develop advanced companion diagnostics for hematology and oncology applications.
Further details on recent initiatives taken by Agilent Technologies as well as other IVD companies have been provided in detail in the report.
3. Becton Dickinson
Becton Dickinson is a US-based healthcare company which develops and supply a variety of reagents, medical devices and solutions that aim to offer enhanced diagnostic capabilities. The company is a leading global medtech company that focuses on improving medical discovery, diagnostics, and the delivery of care. The solutions offered by the company play a crucial role in improving patient care and enabling healthcare professionals to accurately diagnose diseases, administer treatments effectively, and improve patient safety. The company’s comprehensive range of products and services supports the range of healthcare applications, from diagnosis to treatment and recovery, which gives the company a vital edge in the global healthcare landscape.
Becton Dickinson: Company Details
| Particulars | Specifications |
| Company Logo |  |
| Year of Establisment | 1897 |
| Number of Employees | 10,001+ |
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BD’s diagnostics segments is a unit of their Life Sciences business segment. Known as Integrated Diagnostic Solutions, the business unit recognized revenues of $3,624 million for fiscal year 2023 ending 30 September, 2023.
As with the other competitors, their COVID diagnostic testing witnessed a significant decline from 2021.
Recent Initiatives by Becton Dickinson Focusing on In Vitro Diagnostics Domain:
- In March 2024, the company entered into a collaboration with The Great Orchestra of Christmas Charity, a non-profit organization, in order to install proprietary microbiology diagnostic equipment across Poland for testing of bloodstream infections.
- In February 2024, the company entered into a strategic agreement with Camtech Health in order to use the latter’s technology to aid patients’ access to cervical cancer screening in Singapore.
Further details on recent initiatives taken by Becton Dickinson as well as other IVD companies have been provided in detail in the report.
4. bioMérieux
bioMérieux is a France-based company that specializes in developing, manufacturing and marketing in-vitro diagnostic solutions for various clinical and industrial applications. The company is a global leader in in vitro diagnostics segment which specializes in the development, manufacturing, and marketing of diagnostic solutions for clinical and industrial applications. According to the company website, it dedicates significant resources to research and development in order to advance diagnostic technologies. The company's products and solutions are widely used across the globe, with a presence in over 160 countries. The company collaborates with healthcare professionals, research institutions, and industrial partners to drive improvements in diagnostics and public health.
bioMérieux: Company Details
| Particulars | Specifications |
| Company Logo |  |
| Year of Establisment | 1963 |
| Number of Employees | 10,001+ |
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For full year 2023 ended 31 December 2023, the company reported sales of EUR 3,675 million (USD 3,992 million), of which 84% of the revenues were contributed by their clinical diagnostics business segment. bioMérieux has hold of three key technologies within the IVD market, including microbiology, immunoassays and molecular biology.
Recent Initiatives by bioMérieux Focusing on In Vitro Diagnostics Domain:
- In March 2024, bioMérieux invested NOK 115 million (~ $10.7 million) in small diagnostic company SpinChip Diagnostics, to support the road to commercialization of a small desktop point of care diagnostic immunoassay analyzer.
- In January 2024, the company appointed Charles K Cooper as the Executive VP and Chief Medical Officer and Céline Roger-Dalbert as Executive VP of Research and Development.
- In April 2023, the company entered into a strategic agreement with Oxford Nanopore in order to strengthen its infectious disease diagnostics portfolio.
Further details on recent initiatives taken by bioMérieux as well as other IVD companies have been provided in detail in the report.
5. Bio-Rad Laboratories
Bio-Rad is a US-based life sciences and clinical diagnostics company, which claims to provide a wide range of innovative products and solutions, such as PCR systems, chromatography systems and testing kits. The company specializes in offering instruments, software, consumables, and reagents for genomics, proteomics, cell biology, and food safety research, as well as diagnostics for blood viruses, diabetes, and autoimmune disorders. Further, Bio-Rad claims to be a leading provider in terms of quality control systems and droplet digital PCR technology to ensure accuracy in laboratory testing. According to the website, the company boasts a global presence and commitment to quality and regulatory compliance. Bio-rad continues to expand its capabilities and contribute to the development of innovate diagnostic solutions.
Bio-Rad: Company Details
| Particulars | Specifications |
| Company Logo |  |
| Year of Establisment | 1952 |
| Number of Employees | 5,001-10,000 |
| Headquarter |  |
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Recent Initiatives by Bio-Rad Focusing on In Vitro Diagnostics Domain:
- In March 2024, the company appointed Roop K Lakkaraju as the Executive Vice President and Chief Financial Officer.
- In June 2023, the company launched IH-500 NEXT System, an automated blood typing system.
Further details on recent initiatives taken by Bio-Rad as well as other IVD companies have been provided in detail in the report.
6. Danaher
Danaher is a US-based healthcare company which develops and supply a variety of reagents, medical devices and solutions that aim to offer enhanced diagnostic capabilities. The company is a leading global medtech company that focuses on improving medical discovery, diagnostics, and the delivery of care. The solutions offered by the company play a crucial role in improving patient care and enabling healthcare professionals to accurately diagnose diseases, administer treatments effectively, and improve patient safety. The company’s comprehensive range of products and services supports the range of healthcare applications, from diagnosis to treatment and recovery, which gives the company a vital edge in the global healthcare landscape.
Danaher: Company Details
| Particulars | Specifications |
| Company Logo |  |
| Year of Establisment | 1984 |
| Number of Employees | 10,001+ |
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For full year ended 31 December 2023, the company’s diagnostics segment reported revenues of $9,577 million. Its portfolio of diagnostic companies includes Beckman Coulter, Cepheid, HemoCue, Leica Biosystems, Mammotome and Radiometer.
Recent Initiatives by Danaher Focusing on In Vitro Diagnostics Domain:
- In June 2024, the company appointed Martin Stumpe as the Chief Data and Artificial Intelligence Officer.
- In December 2023, the company completed the acquisition of Abcam for a total consideration of USD 5.7 billion.
Further details on recent initiatives taken by Danaher as well as other IVD companies have been provided in detail in the report.
7. DiaSorin
DiaSorin is an Italy-based company which claims to offer a wide array of testing solutions for a variety of therapeutic areas, such as infectious diseases, oncological disorders and autoimmune diseases. The company specializes in offering a variety of immunodiagnostics and molecular diagnostic solutions. The company is renowned for its innovative diagnostic solutions, such as LIASON and LIASON XL which offer automation and streamlining services for laboratory workflows in order to enhance efficiency and accuracy of diagnostic procedures. The company's molecular diagnostics portfolio includes assays for detecting viral, bacterial, and parasitic infections, supported technologies, such as PCR and spectrometry. During the COVID-19 pandemic, DiaSorin developed critical tests for detecting the virus and its antibodies, playing a pivotal role in global health efforts.
DiaSorin: Company Details
| Particulars | Specifications |
| Company Logo |  |
| Year of Establisment | 1968 |
| Number of Employees | 1,001-5,000 |
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DiaSorin reported revenues of EUR 1,148 million (~ USD 1,247 million) for full year 2023, of which 62.7% of their sales were from immunodiagnostics segment and 17.2% from molecular diagnostics segment, two of their key IVD technologies.
Recent Initiatives by DiaSorin Focusing on In Vitro Diagnostics Domain:
- In March 2024, the company announced that it received 510(k) USFDA clearance for its LIAISON PLEX System.
- In November 2023, the company partnered with Gilead Sciences in order to develop a diagnostic assay for Hepatitis Delta Virus (HDV).
Further details on recent initiatives taken by DiaSorin as well as other IVD companies have been provided in detail in the report.
8. Roche
Roche is a Swiss healthcare company with a robust diagnostics portfolio, including molecular diagnostics, clinical diagnostics, precision medicine and patient care solutions. Roche is a global leader in the in vitro diagnostics domain which provides a wide range of products and services for disease detection, disease monitoring, and patient management. The company offers diagnostic solutions intended to be used worldwide in hospitals, reference laboratories, physician offices, and clinics aiming to enhance the ability to diagnose and treat diseases effectively. The company offers comprehensive diagnostic portfolio and plays a critical role in improving patient care, advancing medical research, and promoting public health.
Roche: Company Details
| Particulars | Specifications |
| Company Logo |  |
| Year of Establisment | 1896 |
| Number of Employees | 10,001+ |
| Headquarter |  |
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Diagnostics division of Roche reports revenues of CHF 14.1 billion (~ USD 15.7 billion) for full year 20203 ended 31 December 2023. Within diagnostics segment, the core laboratory unit, which focuses on laboratory tests based in immunoassays and clinical chemistry, was the largest with reported revenues of CHF 7, 750 million. However, the fastest growing unit for the company was pathology lab unit with provides diagnostics for tissue biopsies and companion diagnostics.
Recent Initiatives by Roche Focusing on In Vitro Diagnostics Domain:
- In November 2023, the company launched LightCycler PRO System, a qPCR-based solution intended for both clinical diagnostics and research use.
- In November 2023, the company announced that its Elecsys Neurofilament Light Chain (NfL) test for multiple sclerosis has been granted FDA Breakthrough Device Designation.
Further details on recent initiatives taken by Roche as well as other IVD companies have been provided in detail in the report.
9. Seegene
Seegene is a Korea-based in vitro diagnostics manufacturer that offers in vitro diagnostic solutions for the detection of respiratory infections, gastrointestinal tract infections and sexually transmitted infections. The company specializes in the development, manufacturing and distribution of molecular diagnostic reagents. Their automated testing platforms, such as STARlet IVD and NIMBUS IVD System, streamline laboratory workflows and ensure high throughput testing capabilities. Further, it is worth mentioning that Seegene holds multiple certifications across its portfolio, including GMP and CE certifications.
Seegene: Company Details
| Particulars | Specifications |
| Company Logo |  |
| Year of Establisment | 2000 |
| Number of Employees | 1,001-5,000 |
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Recent Initiatives by Seegene Focusing on In Vitro Diagnostics Domain:
- In May 2024, the company entered into a collaboration with Springer Nature in order to collaborate with researchers in order to speed up the PCR diagnostic testing.
- In December 2023, the company announced that it achieved an ISO45001 certification.
Further details on recent initiatives taken by Seegene as well as other IVD companies have been provided in detail in the report.
10. Sysmex
Sysmex is a Japan-based company which offers diagnostic solutions for a number of diagnostic segments, such as hematology, hemostasis, urinalysis, immunoassays. The company’s diagnostic portfolio caters to a variety of applications in several domains, such as clinical diagnostics, industry applications, digital health systems and lab information systems. In addition, Sysmex offers a wide range of software-based services in order to provide lab management offerings to its clients. Based on company’s recent activity in this domain, the company appears to continue to expand its capabilities and contribute to the development of innovative diagnostic solutions.
Sysmex: Company Details
| Particulars | Specifications |
| Company Logo |  |
| Year of Establisment | 1968 |
| Number of Employees | 10,001+ |
| Headquarter |  |
| Business Segments |
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| Key Executives |
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For fiscal year ended 31 March 2024, Sysmex reported revenues of JPY 461.5 billion (~ USD 2.91 billion) of which 99.2% of the sales are contributed by diagnostics business. Within diagnostics, hematology is the largest unit holding 59.6% share by revenues.
Recent Initiatives by Sysmex Focusing on In Vitro Diagnostics Domain:
- In February 2024, the company entered into a strategic agreement with Hitachi High-Tech in order to develop capillary electrophoresis sequencer-based genetic testing systems.
- In June 2023, the company launched “World's first point-of-care system to detect antimicrobial susceptibility under 30 minutes”.
Further details on recent initiatives taken by Sysmex as well as other IVD companies have been provided in detail in the report.
What About the Other IVD Companies Around the World?
The above presentation features top 10 IVD companies selected based on the detailed market research report that we have compiled. If you're interested, you can download the Sample Report on this topic by Roots Analysis. For personalized assistance in identifying the most relevant solutions based on your specific criteria, please don't hesitate to reach out to us at sales@rootsanalysis.com.
Source
1. https://www.abbottinvestor.com/static-files/d62c72af-f479-4d79-9746-8934204a6587
2. https://investors.bd.com/sec-filings/all-sec-filings/content/0000010795-23-000098/0000010795-23-000098.pdf
3. https://www.biomerieux.com/content/dam/biomerieux-com/investor/02---news---reports/annual-report/bioM%C3%A9rieux-2023-Annual-Report.pdf.coredownload.pdf
4. https://www.prnewswire.com/news-releases/danaher-reports-fourth-quarter-and-full-year-2023-results-302047285.html
5. https://assets.roche.com/f/176343/x/98b8e2ba9d/ar23e.pdf
6. https://www.sysmex.co.jp/en/ir/library/quarter/240509_fd.pdf