The Big Four’s Q1 Diagnostic Business Rankings Remain Unchanged: Roche First, Abbott Second, Danaher Third, Siemens Healthineers Fourth.

*Siemens Healthineers Fiscal Year 2021 Q1 RangeOctober 1, 2020–December 31, 2020.

*At real-time exchange rates: 1 CHF = 1.0901 USD, 1 EUR = 1.2022 USD.

Roche:Diagnostic Business Revenue Ranks First (CHF 433 billion). Affected by the decline in the pharmaceutical business, the Group's total revenue in Q1 decreased by 1% year-on-year, but the diagnostics business showed strong growth, reaching +50%, among which,Surge in POC Immunoassay Diagnostics1532%, ChengStrongest Growth Driver.

Abbott:No. 1 Growth Rate in Diagnostic Business（+119.8%）, accounting for the highest proportion (38%) of total revenue among the four companies.Abbott Rapidly Iterates Multiple COVID-19 Diagnostic Products, with Rapid Diagnostic and Molecular Diagnostic Businesses Surging in Q1302.8%、220.9%, the international market has become the growth engine.

Danaher:Diagnostic business +34% year-over-year. Drove the rapid growth in overall performance (+34.5%).

Siemens Healthineers:Driven by sales of rapid COVID-19 antigen tests and the stable growth recovery of its core business, Diagnostic business +23% growth，China became the region with a +25% growth rateRegional Performance Pillars。

Roche’s total revenue in Q1 2021 was CHF 14.93 billion (approximately USD 16.275 billion), representing a year-on-year decrease of 1% (or a 3% increase at constant exchange rates). Of this,

• Pharmaceutical business declined significantly, down 14% year-over-year;

• Strong Growth in Diagnostics Business, Year-over-Year+50%, offsetting part of the decline in performance of the pharmaceutical business.

The diagnostics business contributed to Roche's global operations29%revenue,Increased by 10 percentage points。

▲Roche’s Total Revenue for Q1 of Fiscal Year 2021

Diagnostic Business Revenue

Benefiting from a comprehensive and growing portfolio of COVID-19 testing products, Roche Diagnostics' Q1Revenue reached CHF 4.33 billion (approximately USD 4.72 billion), a year-on-year increase of +50%.

COVID-19 testing continues to show strong growth momentum, and routine business operations also demonstrate robust expansion.

▲ Roche's Diagnostic Division Revenue in Q1 of Fiscal Year 2021

• Central Laboratory:Revenue of CHF 1.765 billion, a year-on-year increase of 28%, primarily driven byExcellent Growth in Immunodiagnostics (Year-on-Year +40%）, clinical chemistry also achieved double-digit growth (+13%);

  
  

• Molecular Diagnostics:Revenue of CHF 1.107 billion, year-on-year+80%, accounting for 25.6%, a 4% increase.Virology and POC molecular diagnostics surged by +188% and +130%, respectively,Driven primarily by sales of SARS-CoV-2 tests, the LightMix series (real-time fluorescent PCR test kits) increased by 55% year-over-year;

  
  

• Diabetes Management:Revenue of CHF 460 million, +8% year-over-year,Growth of the Blood Glucose Monitoring Business, insulin delivery systems business declined;

  
  

• Pathology Laboratory (formerly Tissue Diagnostics):Revenue of CHF 282 million, +4% year-on-year;

  
  

• Bedside Diagnosis:Revenue of CHF 716 million,Year-on-Year Surge+277%, with the proportion rising by 10 percentage points to 16.5%. Among them,POC Immunodiagnostic Sales Surge1532%(Primarily from the new COVID-19 point-of-care testing portfolio), becoming the vanguard of Roche Diagnostics' performance growth.

In Q1 2021, Abbott generated revenues of $10.456 billion, a year-over-year increase of 35.3%, or 32.9% on an organic basis, marking a strong start.

Driven by the demand for COVID-19 diagnostics,Diagnostic Business Surges +119.8%. The other three major businesses also achieved varying degrees of growth: Medical Devices (+13.1%), Nutrition (+6.9%), and Pharmaceuticals (+2.5%).

▲ Abbott's Total Revenue for Q1 of Fiscal Year 2021

Diagnostic Business Revenue

Driven by global demand for its COVID-19 diagnostic portfolio, Abbott’s diagnostics business achieved robust triple-digit growth in the first quarter.+119.8% YoY, Revenue Reached RMB 4.014 BillionUSD.Among them,

• Rapid Diagnostics (Alere’s POC Business):Surge+302.8%, with revenue of $2.256 billion, exceeding half of the diagnostics segment's revenue, becoming the core pillar of performance;

• Molecular Diagnostics:Achieved a doubling of performance, with revenue reaching $447 million,Year-over-Year+220.9%；
  

• Traditional Diagnosis:Revenue of $1.182 billion, a year-over-year increase of 19.6%, driven by demand for the rapid and laboratory-based COVID-19 diagnostic product portfolio;
  

• Bedside Diagnosis:In the diagnostic businessThe Only Decline (YoY -6.6%)business, primarily affected by an 11.4% decline in the U.S. market.

▲ Abbott’s Diagnostic Business Revenue in Q1 of Fiscal Year 2021

In the first quarter, Abbott’s global sales related to COVID-19 testing amounted to$2.2 billion, with total sales of the BinaxNOW, Panbio, and ID NOW rapid testing platforms amounting to $1.8 billion.

In Q1 2021, Danaher's total revenue reached $6.858 billion, a year-on-year increase of 58%, making it the fastest-growing among the four major giants.

All three business segments achieved performance growth, with Life Sciences revenue doubling (+115%),Diagnostic Business (+34%)Environmental Applications revenue was $1.134 billion (+6.5%).

▲ Danaher's Total Revenue for Q1 of Fiscal Year 2021

Diagnostic Business Revenue

Danaher’s diagnostics business generated $2.178 billion in revenue in Q1 2021, with the 34% growth primarily attributable to COVID-19-related demand, as well as increased corporate demand for instruments and consumables driven by the easing of pandemic-related shutdowns and restrictions.

Danaher Diagnostics'All Business Segments Achieved Growth, with specific growth figures not disclosed.

Among them,

• Clinical Laboratory Services:The growth was driven by increased demand for immunoassay and chemistry product lines,Mainly composed ofChina- Market Drivers in Japan and Western Europe；
  

• Molecular Diagnostics Business:Yes# Key Drivers of Diagnostic Business Growth, sales of instruments and consumables for COVID-19 diagnostic solutions grew particularly strongly;

• Acute Care Diagnostics Business:Growth was primarily driven by the blood gas and immunoassay product lines inJapan,Chinaand the North American marketImpressive sales;
  

• Pathology Diagnostic Services:Primarily benefited from increased demand for core histology, advanced staining, and pathology imaging products.

▲Danaher’s Diagnostic Segment Revenue in Q1 of Fiscal Year 2021

Siemens Healthineers reported encouraging results for Q1 of fiscal year 2021 (October 1, 2020–December 31, 2020), with total revenue€3.868 billion, year-on-year+13.3%。

All three major business segments experienced varying degrees of growth: Imaging (+9.3%),Diagnostic Business (+23.5%)and clinical treatment (+6.3%).

▲ Siemens Healthineers’ Total Revenue for Q1 of Fiscal Year 2021

Diagnostic Business Revenue

Driven by robust demand for COVID-19 testing, the diagnostics business achieved strong growth in Q1, with revenue€1.183 billion (approximately $1.422 billion), year-on-year+23.5%。

Growth primarily stems from:

• Europe, the Middle East and Africa region for rapidCOVID-19 Antigen Testhigh demand;

• Driving sales of PCR assays and antibodies;

• Routine Testing Resumption and Customer Onboarding.

▲ Siemens Healthineers Q1 FY2021 Diagnostic Imaging Revenue

Roche Diagnostics achieved strong growth across all regions in Q1,EMEA and Asia-Pacific becomeGlobalThe "Dual Engines" of Growth,Among them,

• EMEA (Europe, Middle East, and Africa):Roche Diagnostics' Largest Market with the Highest Growth, revenue of CHF 1.967 billion, a year-on-year increase of 62%;

• North America:Revenue of CHF 1.051 billion, a year-on-year increase of 26%, with the global share declining by nearly 5 percentage points;

• Asia-Pacific Region:Revenue of CHF 1.045 billion, accelerating the narrowing of the gap with the North American market, with revenue shares being nearly equal;+61% YoY, on par with the EMEA market；
  

• Latin America:Revenue of CHF 267 million, +48% year-over-year.

▲ Roche Diagnostics Q1 FY2021 Regional Revenue

US Market:Revenue of $1.641 billion,+104.4% YoY, accounting for 37% of total diagnostic revenue, a decline from the 44% share in Q1 2020. Point-of-care diagnostics experienced a significant year-over-year decline of 11.4%, while all other business segments maintained growth, particularly rapid diagnostics (+199.7%) and molecular diagnostics (+168.7%);

International Market:Revenue of $2.373 billion,+131.9% YoY, accounting for 63% of total diagnostic revenue, an increase of 7 percentage points from 56% in the same period last year. The international market performed exceptionally well in Q1, with all four major diagnostic businesses achieving strong growth,Rapid diagnostics have achieved a fivefold increase (USD 1.153 billion, +500.6%) leapfrog development, molecular diagnostics also performed well, with a year-on-year increase of +267.0%.

▲ Abbott’s Q1 FY2021 Diagnostic Business Revenue by Region

Q1 2021,Danaher Achieved Excellent Double-Digit Growth Across All Regional Markets, among which,

• North America:Revenue of $972 million, a year-over-year increase of 29%, accounting for 45% of Danaher’s global diagnostics business;
  

• Western Europe:Revenue of $415 million, a year-over-year increase of 34%, accounting for 19%;

• High-Growth Markets (Eastern Europe, Middle East, Africa, Latin America, and Asia, excluding Japan, Australia, and New Zealand):Revenue of $673 million, accounting for 31%,+45% YoY, primarily driven by growth in the China market；
  

• Other Developed Markets:Revenue: $118 million, +20% year-over-year, accounting for 5%.

▲ Danaher's Q1 FY2021 Diagnostic Business Revenue by Region

Regional revenue, which includes all of Siemens Healthineers' businesses, saw growth across its three major regional markets to varying degrees:

• EMEA Market (Europe, Commonwealth of Independent States, Africa, and the Middle East):Revenue of €1.447 billion, a year-on-year increase of 26%, includingThe German market performed exceptionally well, contributing €329 million, a year-on-year increase of +58%.%；

• Americas Market:Revenue of €1.306 billion, +2% year-over-year;
  

• Asia & Australia Markets:Revenue of €1.115 billion, a year-on-year increase of 13%, including:China MarketContributed €587 million, accounting for half of the total, with a year-on-year increase of 25%, becoming the main force in regional performance.

▲ Siemens Healthineers Q1 FY2021 Regional Revenue

Roche Diagnostics’ portfolio of testing and digital solutions continues to be refined.

Since 2021, Roche has successively$1.8 billionAcquisition of Molecular Diagnostics Company GenMark, launched new diagnostic products including the cobas® SARS-CoV-2 Variant Group 1 test for research use and eight new high-throughput configurations for the cobas pro® integrated solutions.

▲ Roche Diagnostics’ Key Products Planned for Launch in 2021

2021 Roche Diagnostics Plan PromotionLaunch and Market Adoption of 10 Products, including 4 instruments, 2 testing products, and 4 digital solutions.

Roche CEO Severin SchwanDanaher told investors that as the healthcare system returns to normal, routine diagnostic testing has begun to recover, while COVID-19 testing remains “difficult to predict at this time.”

On March 31, 2021, Abbott announced that the BinaxNOW COVID-19 Ag Self-Test had received Emergency Use Authorization (EUA) from the U.S. Food and Drug Administration (FDA) and would begin sales to retailers across the United States on April 19. BinaxNOW is currently the most affordable over-the-counter rapid COVID-19 test in the United States.

▲ Abbott's BinaxNow Rapid COVID-19 Diagnostic Product

In the future, Abbott willContinue to drive innovation in its diversified product portfolioNew, to create opportunities for transformation and iteration. Among them,

• Diagnostic Field,Abbott to Launch Alinity Series of Integrated Diagnostic Solutions.

Robert B. Ford, President and Chief Executive Officer of Abbottstated: “Over the past year, Abbott has developed high-quality rapid diagnostic tests and invested in U.S. manufacturing facilities to expand production capacity. We are particularly pleased with the growth momentum of several recently launched products and will continueEarnings per share are projected to grow by more than 35% this year。”

Danaher CEO Rainer Blairstated, “The continued development and production of COVID-19 vaccines, treatments, and diagnostic tests drove record growth in performance.”

At the 2021 JMP Conference, Blair stated that Danaher is focusing on the molecular diagnostics sector.Cepheid, which brought approximately in 2020$2 billionincome.

Furthermore, on March 30, 2021,Danaher Diagnostics Platform China R&D and Manufacturing BaseOfficially broke ground in Suzhou Industrial Park, with an investment of over USD 100 million and expected to commence operations in 2023, further accelerating its localization process in China.

In 2021, Siemens Healthineers entered the second phase of its “Strategy 2025,” clarifying its priorities—expanding market share and advancing the company’s digital transformation.

During the upgrade phase, Siemens Healthineers aims for annual comparable revenue growth>5%, annual adjusted basic earnings per share growthApproximately 10%。

Among them,The diagnostic business focuses on leveraging the market opportunities presented by the trend toward laboratory diagnostic automation to elevate the division’s performance to a growth trajectory.。

The ranking of diagnostic performance for the four major IVD players remained unchanged in Q1 2021,RocheandAbbottNot only does its diagnostic revenue far surpass that of Danaher and Siemens Healthineers, but its growth rate also significantly exceeds theirs, further widening the gap with these two competitors.

On the other hand,AbbottWith a striking growth rate of nearly 120%, the company is accelerating its pursuit of industry leader Roche, with performance also surpassing the $4 billion mark. Is it poised to catch up in the future?

Molecular Diagnostics and Point-of-Care Testinghas become a growth point in the past two years.

It is foreseeable that within 1–2 years,COVID-19-Related Testing and DiagnosisIt remains one of the core businesses in the IVD sector, with competition expected to intensify further.

ChinaAs one of the most important markets globally, its exceptional growth performance is bound to become a battleground for IVD giants. Being number one globally does not equate to being number one in China; who will emerge victorious in the Chinese market?

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