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Will Abbott Rule the Diagnostics Market by 2019?

Will Abbott Rule the Diagnostics Market by 2019?
CEO Miles White said a strong diagnostics product pipeline will have Abbott sitting pretty in three to five years.  

Abbott's Architect C14100 automated analyzer


Abbott delivered better-than-expected diagnostics sales in the second quarter of 2014, and the company hopes a strong product pipeline will make that a trend going forward.

Learn more about what trends are shaping the medical device industry at the MD&M Minneapolis conference and exposition October 29–30, 2014.

Abbot’s worldwide diagnostics sales in Q2 2014 climbed 5.5% on an operational basis over the same period last year. For the first half of 2014, diagnostics sales were up 5.3% operationally.

The segment’s strong performance was bolstered by especially strong sales in core laboratory diagnostics, which posted double-digit growth in the United States. Though sales of molecular diagnostic dropped 2.1% on an operational basis, the gains in core laboratory and point-of-care diagnostics were more than enough to make up for it.

Abbott is also gearing up to continue its strong performance in the area of diagnostics. Chairman and CEO Miles White said the company is investing in new technologies across all three of its diagnostics platforms that should come to fruition in the coming years.

“There’s kind of an unprecedented number of systems in development in our diagnostics business broadly defined," White said, according to a Seeking Alpha transcript of the call.

Among the developments he touted on the call were the following:

  • Broadening and differentiating the Architect Assay menu.
  • A new family of hematology analyzers.
  • A new family for blood screening.
  • A new family for core lab immunoassay and chemistry.
  • A new program in the molecular diagnostics space.
  • A new generation of point-of-care products.

White said Abbott hopes to bring those products to market over the next three to five years.

“…[W]hen and as complete, I’d say our diagnostics business will have the most up-to-date delivery platforms in their various spaces across the board in the industry, and we’ll be very, very well positioned,” he said.

Learn more about what trends are shaping the medical device industry at the MD&M Minneapolis conference and exposition October 29–30, 2014.

Jamie Hartford, managing editor, MD+DI
[email protected]

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