IVD Top Four Release 2021 H1 Results: Roche Leads, Abbott Follows

Currently, as multinational pharmaceutical companies successively release their first-half 2021 financial reports, the semi-annual reports of the "Big Four" in the IVD sector have also been published in turn. The diagnostic business ranking remains unchanged: Roche ranks first, Abbott second, Danaher third, and Siemens Healthineers fourth.

I. Roche

Total revenue for the first half of 2021 amounted to CHF 30.7 billion (approximately USD 33.5 billion), representing an 8% year-on-year increase. Driven by demand related to the COVID-19 pandemic, the Diagnostics business experienced substantial growth, reaching CHF 9.0 billion (approximately USD 10.0 billion), up 51% year-on-year. It accounted for 29% of Roche’s total revenue, with the COVID-19 testing portfolio contributing CHF 2.5 billion in revenue.

Specifically:

Core Laboratory revenue was CHF 3.726 billion (+34%), with the largest contribution from the Asia-Pacific region, particularly the Chinese market, where sales increased by 49%;

Molecular diagnostics revenue reached CHF 2.216 billion (+45%); driven by demand for SARS-CoV-2 testing, virology and point-of-care (POC) molecular diagnostics surged by 60% and 318%, respectively;

Point-of-care diagnostics revenue reached CHF 1.616 billion (+349%), with POC immunoassay sales surging by 2,000%, serving as the primary driver for Roche Diagnostics' performance growth;

Diabetes Management revenue reached CHF 894 million (+10%), with growth in the blood glucose monitoring business contributing +13%, while the insulin delivery systems business declined by 7%;

Pathology Laboratory (formerly Tissue Diagnostics) revenue was CHF 590 million (+20%).

Additionally, revenue from the Roche Diagnostics business in the China market reached CHF 1.222 billion, up 45% year-on-year.

II. Abbott

In the first half of 2021, total revenue was approximately $20.7 billion, representing a year-on-year increase of 37%. The diagnostics segment generated $7.26 billion in revenue, accounting for 35% of Abbott's total revenue, and achieved a growth rate of 90%, the highest among the Big Four. Similarly driven by the demand for COVID-19 testing, Abbott's sales related to COVID-19 tests reached $3.5 billion in the first half of the year, with rapid testing platforms such as BinaxNOW, Panbio, and ID NOW accounting for $2.8 billion in total sales.

Specifically:

Traditional Diagnostics revenue $2.488 billion (+25.9%);

Molecular diagnostics revenue: $737 million (+48.1%);

Point-of-Care Diagnostics revenue $266 million (+3.7%);

Rapid Diagnostics revenue reached $3.77 billion (+245.7%), accounting for 51.9%, primarily driven by strong growth in point-of-care COVID-19 molecular tests.

III. Danaher

In the first half of 2021, Danaher's total revenue reached $14.076 billion, up 46% year-over-year. The Diagnostics segment generated revenue of $4.514 billion, up 37% year-over-year, accounting for 32% of total revenue.

Specifically, driven by the demand for diagnostic testing solutions for COVID-19 and non-respiratory diseases, strong sales growth in the molecular diagnostics business served as the primary driver for Danaher's diagnostics business growth. Other businesses, including clinical laboratory diagnostics, acute care diagnostics, and pathology diagnostics, also experienced corresponding growth.

4. Siemens Healthineers

In the first half of 2021, Siemens Healthineers reported total revenue of €7.833 billion (approximately $9.299 billion), up 8% year-on-year. Driven by high market demand for rapid COVID-19 antigen tests, the diagnostics business generated revenue of €2.42 billion (approximately $2.87 billion), representing a 20% year-on-year increase.

Specifically, the market for laboratory diagnostic tests, point-of-care testing, and SARS-CoV-2 testing, including rapid antigen tests, for COVID-19 patients has experienced substantial growth.

Additionally, the Chinese market contributed €1.1 billion to Siemens Healthineers' Diagnostics business, representing a year-on-year increase of 19% and serving as the key performance driver for the Asia-Pacific region.