2020 Rankings of the World’s Largest IVD Corporations

IN VITRO DIAGNOSTICS (IVD) MANUFACTURING continues to be dominated by a handful of companies, all of which sell their products worldwide. As the rankings below demonstrate, for 2020, just 11 companies accounted for 82.7% of international IVD sales. 

The COVID-19 pandemic and the need for unprecedented numbers of SARS-CoV-2 tests—both molecular and serological—gave these IVD companies a huge boost in revenue. Demand for COVID-19 tests continued through the end of 2020. For most IVD companies, there was some fall-off in the sales of routine testing analyzers and test kits as fewer people sought healthcare from hospitals and physicians’ offices during 2020. 

Top 11 IVD Companies by Global Revenue in 2020 (in billions) 

2020 Revenue    Cumulative revenue   Percent   Cumulative percent

1. Roche Holdings–
Diagnostics Division                               $15.3                     $15.3                        20.6%                 20.6%
Basel, Switzerland, founded 1896 

2. Thermo Fisher Scientific–
Lab Products Div.                                    $12.2                    $27.5                        16.5%                   37.1%
Waltham, Mass., founded 1956 

3. Abbott Laboratories–
Diagnostics Division                              $10.8                     $38.3                         3 14.6%               51.7%
Abbott Park, Ill., founded 1888 

4. Becton Dickinson–
Life Sciences Division                           $4.7                       $43.0                         6.3%                    58.0%
Franklin Lakes, N.J. founded 1897 

5. Siemens Healthineers–
Diagnostics Division                             $3.9                       $46.9                         5.3%                    63.3%
Erlangen, Germany, founded 1896 

6. bioMérieux                                     $3.1                       $50.0                          4.2%                    67.5%
Marcy-l’Étoile, France, founded 1963 

7. Sysmex Corporation                    $2.7                      $52.7                            3.6%                   71.1%
Hyo-go, Japan, founded 1968 

8. Bio-Rad Laboratories                $2.5                      $55.2                            3.4%                  74.5%
Hercules, Calif., founded 1952 

9. Danaher Corporation–
Diagnostics Division                          $2.2                      $57.4                           3.0%                    77.5%
Washington, D.C., founded in 1969 

10. Hologic–
Diagnostics Division                          $2.1                      $59.2                             2.4%                80.3%
Marlborough, Mass., founded 1985 

11. Ortho Clinical
$1.8                      $59.2                          2.4%                    82.7%
Raritan, N.J., founded 1939 

Total Market Share Top 11
IVD Firms                                       
$61.3                     $61.3                           82.7%                82.7% 

Market Share, Other
IVD Firms                                       
$12.8                     $12.8                           17.3%                 17.3% 

Total Global IVD Revenue
in 2020 (est.)                                $74.1                   $74.1                         100.0%           100.0% 

Source: Company documents, news reports, financial analysts’ reports. 

Five Global Giants Dominate In Vitro Diagnostics

Worldwide sales of in vitro diagnostic products are estimated to be approximately $74.1 billion during 2020. This is an increase of 7.4% from 2019, when worldwide sales were $69.0 billion. Compared to previous years, this is a much larger year-over-year growth rate. The dramatic increase in demand for COVID-19 tests was somewhat offset by a reduction in routine testing because of how COVID-19 lock-downs kept people from going to hospitals or doctors for routine care for the last nine months of 2020. 

Lab managers and pathologists familiar with the Pareto Principle—also known as the 80/20 rule or the law of the vital few—will understand why just 11 global IVD corporations generated 82.7% of total global IVD sales during 2020. The pie chart below illustrates how the Pareto Principle applies in the worldwide IVD market. It shows the market clout of the five biggest IVD companies. In fact, the diagnostics divisions of the three largest IVD manufacturers—Roche, Thermo Fisher Scientific, and Abbott Laboratories—represent more than half of all IVD products sold globally during 2020. Collectively they hold an impressive 51.7% share of the global IVD market. 



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