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Top 9 Companies in the Diagnostics Market

The diagnostics space has been filled with market clearances; collaborations and a dash of M&A. MD+DI has compiled a list of the most influential companies in the market.

  • Add some market clearances; a rebranding; a merger or two; and some collaborations; and you’ve got a recipe for some of the most powerful players in diagnostics. Data on market capitalization, 2018 revenue, and position were derived from MD+DI's database of 115 Medtech Companies of 2018.

    Sources for the database are FactSet, Bloomberg LP, and company filings.

     

     

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  • Lantheus Holdings
    Market Capitalization
    : $602M
    2018 Revenue: $338M
    Rank in Database: 106

    Lantheus Holdings is the parent company of Lantheus Medical Imaging Inc.,a specialist in the development, manufacture, and commercialization of innovative diagnostic imaging agents. Recently, the North Billerica, MA-based company entered into a strategic collaboration and license agreement with NanoMab Technology Ltd.  

     

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  • Neogen Corp.
    Market Capitalization: $3B
    2018 Revenue: $405
    Rank in Database: 100

    Neogen provides test kits and relevant products to detect dangerous substances in food. The Lansing, MI-based company operates a product line of over 100 drug detection test kits worldwide for the detection of about 300 abused and therapeutic drugs in animal treatment.

     

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  • Varex Imaging
    Market Capitalization: $903M
    2018 Revenue: $602M
    Rank in Database: 81

    Varex imaging specializes in X-ray imaging component solutions, which includes X-ray tubes, digital flat panel detectors, software, and other key components of X-ray imaging systems.

     

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  • Masimo Corp.
    Market Capitalization: $5.7B
    2018 Revenue: $860M
    Rank in Database: 70

    Masimo is primarily known for its noninvasive monitoring technologies. The Irvine, CA-based company reported that a study recently published in the Journal of Clinical Monitoring and Computing had favorable results. The researchers investigated the ability of Masimo ORi (Oxygen Reserve Index) to serve as a noninvasive indicator of the arterial partial pressure of oxygen (PaO2) during general anesthesia, to help avoid hyperoxia. In 2015, Masimo’s Joe Kiani made headlines when he criticized Medtronic, Epic, and other medtech companies for not sharing data.

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  • bioMerieux
    Market Capitalization: $7.8B
    2018 Revenue: $2.8B
    Rank in Database: 31

    MD+DI has long been watching the progress of bioMerieux. In 2017 the French company was named one of the Notable Newcomers in the diagnostics. Recently, bioMerieux reached a milestone when FDA cleared the Vitek 2 AST Gram Positive Dalbavancin antimicrobial susceptibility test.

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  • Danaher Corp.
    Market Capitalization: $72.3B
    2018 Revenue: $2.8B
    Rank in Database: 29

    Three years ago, Danaher redefined its role and position in diagnostics. The Washington-based company acquired Cepheid for $4 billion – thus changing the game completely. Through the acquisition, Danaher gained the full automated GeneXpert systems, among other applications, and products that provide test results for the management of infectious diseases. Danaher also when through a metamorphosis when it split into two companies in 2016. The company that retained the Danaher name consists of its existing life sciences, diagnostics, and dental businesses, as well as its water quality, and product identification businesses. The new company Fortive Corp., housed Danaher's existing test and measurement, industrial technologies, and petroleum businesses.

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  • Hologic
    Market Capitalization: $12B
    2018 Revenue: $3.2B
    Rank in Database: 25

    Hologic’s deal with Cynosure, an anesthetics company, might have come as a head scratcher for analysts – but the Marlborough, MA-based company continues to have a strong presence in its imaging and diagnostics base. Hologic acquired digital specialist Faxitron Bioptics for $85 million. Tucson, AZ-based Faxitron recently launched the VisionCT and the technology is a 3-D breast specimen-designated CT system to offer 360-degree images of excised lesions.

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  • Siemens Healthineers
    Market Capitalization: $13.3B
    2018 Revenue: $16B
    Rank in Database: 7

    2014 was a transformative year for Siemens. The company spun off its healthcare business as a separate legal unit. That unit became Siemens Healthineers

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  • Abbott Laboratories
    Market Capitalization: $127B
    2018 Revenue: $168B
    Rank in Database: 5

    Everyone who’s close to this business knows that Abbott’s acquisition of St. Jude Medical was pretty transformational. But how was it game changing for diagnostics? Well the answer lies in another one of Abbott’s acquisitions – Alere. Although the merger with Alere was wrought with controversy, difficulty, and the threat of a few lawsuits, there’s no denying its impact. Alere put Abbott on a totally different level in diagnostics.

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