Diagnostic Substance Manufacturing Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 3/11/2024
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
View Full Sample Add To Cart

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 in vitro diagnostics (IVD) market in 2022 was worth over $90 billion and was forecast to be worth about $200 billion by 2030, according to data from Next Move Strategy Consulting. Demand for point-of-care diagnostic devices is increasing as these provide rapid results, are cost effective, and have advanced diagnosis feature for patients. The risk of getting disease increases while aging.

The US diagnostic substances industry includes about 240 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $15 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 companies can compete effectively by specializing in certain types ...

 
View Full Sample Add To Cart Return to the Industry Profile Menu

Related Profiles

Here are a few profiles related to Diagnostic Substance Manufacturing that you also might be interested in viewing:

Would you or your company benefit from having unlimited access to First Research's industry intelligence tools?

Learn More About Subscription Options