Diagnostic Substance Manufacturing Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 5/10/2021
SIC Codes: 2835
NAICS Codes: 325413
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
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Excerpt from Diagnostic Substance Manufacturing Industry Profile

Companies in this industry develop and manufacture biological, chemical, and radioactive substances used in the process of detecting, diagnosing, and monitoring health conditions. Major companies include Beckman Coulter and Bio-Rad Laboratories (both based in the US), as well as bioMerieux and Guerbet (both in France) and the diagnostic divisions of major pharmaceutical companies such as Abbott (US), Roche (Switzerland), and Siemens (Germany).

The global market for in vitro diagnostics, which includes drugs and devices, is forecast to grow from $84.5 billion in 2020 to $96 billion in 2025, according to MarketsandMarkets. Growth is driven by the aging population; for instance, the elderly people in the US was estimated at 54 million (80% suffer from chronic conditions) in 2019, as per Organisation for Economic Co-operation and Development. The risk of getting disease increases while aging.

The US diagnostic substances industry includes about 250 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $14.5 billion.

Companies that make diagnostic equipment such as x-ray machines are covered in a separate profile.

COMPETITIVE LANDSCAPE

Demand for diagnostics is driven by the desire to detect and treat illness and disease. The profitability of individual companies depends on their ability to promote easy-to-use, effective tests and to develop new tests. Growth is fueled by increasing rates of chronic and infectious diseases. Large companies have economies of scale in research, manufacturing, and marketing. Smaller ...

 
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