Abbott Laboratories’ Revenue Breakdown (2016-2022)

This statistic highlights Abbott Laboratories’ Revenue Breakdown, split across Diagnostics, Established pharmaceutical products, Medical devices, and Nutritionals, reported on a quarterly basis from Q1 2016 onwards.

Abbott Laboratories is focused on the discovery, development, and production of a wide range of healthcare products.

Abbott Laboratories’ Revenue by Segment

The following table shows Abbott Laboratories’ Revenue Breakdown, in some of its recent quarters.

(All figures in billions, except percentages) 

Abbott Laboratories has the following segments:

• Diagnostics

This division is in charge of delivering diagnostic services to a number of hospitals, government agencies, laboratories and blood banks around the world. The following products are available in this segment: 

1. Laboratory systems in the fields of clinical chemistry, hematology (study of blood), transfusion medicine, and immunoassay (biochemical test)
2. Molecular tests for the detection and measurement of infectious agents like HIV, hepatitis; diagnostic products for oncology (study of cancer)
3. Point of Care (POC) tests
4. Rapid Diagnostic tests for infectious diseases
5. Informatics, integration, and automation solutions for laboratories

Recent Trends: Because of the high demand for the company’s COVID-19 diagnostic tests, this segment’s contribution to the company’s revenues has greatly improved. The company’s collection of twelve COVID-19 diagnostic tests has outperformed the decline in routine laboratory testing caused by the pandemic, resulting in greater revenue.

• Established Pharmaceutical Products

This segment focuses on selling branded generic pharmaceutical products. The distinctive feature of this segment is that it focuses only on emerging markets. The products produced by the segment include medicines for the treatment of gastrointestinal, gynecological, metabolic, and cardiovascular diseases, pain, migraine,  The segment also produces influenza vaccines.

Recent Trends: This segment’s revenues have been subject to an upward trajectory, given the higher sales in key emerging markets like India, China, and Brazil. However, the spread of COVID-19 disrupted this segment’s growth.

• Medical devices: 

This segment builds medical devices for monitoring and treating a host of diseases. The company offers a multitude of products catering to patients suffering from cardiovascular diseases. These products range from rhythm management devices like pacemakers and implantable cardiac monitors to vascular products like stents. Moreover, neuromodulation devices for the treatment of chronic pain disorders and diabetes care solutions like glucose monitoring systems are also available with the segment.

Recent Trends: The revenue contribution of this segment has grown over the past few years. However, the earnings suffered setbacks in 2020 because of pricing pressures related to DES (Drug-Eluting Stent) due to high competition in several markets. China’s first national tender on coronary stents also adversely impacted the sale of coronary stents.

A fall in surgical operations due to COVID-19 resulted in a reduction in sales of the cardiovascular and neuromodulation businesses. Nevertheless, the diabetes care business recorded growth.

• Nutritionals: This segment manufactures multiple adult and pediatric nutritional products. Prepared infant formula and follow-on formula products like Similac, Neosure, Isomil; adult and other pediatric nutritional products like Ensure, PediaSure, Pedialyte, Glucerna; nutritional products like Jevity, Nepro, Oxepa for tube and oral feeding.

Recent Trends: The sales of this segment have gone up. This increase is attributable to factors like the introduction of new products like high-protein Ensure, the aging population and growing chronic diseases in developed countries, and the development of the middle class in emerging markets.

Even though the international pediatric nutritional sales suffered because of intense competition from local Chinese pediatric nutrition brands and declining birth rates in China, the segment sailed through the testing times for the most part.

 About Abbott Laboratories

Abbott Laboratories is a leading company in the healthcare and medical technology sector. Founded in 1888, the company is headquartered in Illinois, Chicago. Abbott offers a variety of products ranging across multiple healthcare industries like diagnostic testing, pharmaceutical products, nutritional products, and medical devices. In 2013, the company faced a division, following which the research-based pharmaceuticals company Abbvie was founded. It is the highest revenue-generating company in the medical devices industry in the U.S.

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