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This statistic highlights Quidel Corporation’s Revenue by Segment, split across Cardiometabolic Immunoassay, Molecular Diagnostic Solutions, Rapid Immunoassay, Specialized Diagnostic Solutions segments, reported on a quarterly basis from from Q1 onwards.
Quidel Corporation is a quick diagnostic testing system developer, manufacturer, and marketer. Rapid immunoassay, cardiometabolic immunoassay, molecular diagnostic solutions, and specialized diagnostic solutions are the four product categories in which these diagnostic testing solutions are divided. The company distributes its products to end-users and distributors for use in physician offices, hospitals, clinical labs, reference laboratories, urgent care clinics, top universities, retail clinics, pharmacies, and wellness screening centers. A network of distributors and a direct sales team promote the items.
Quidel Corporation generates its revenue from the following segments:
The following table sheds more light on the company’s top-line growth:
|Segments||Q1 2020||Q1 2021||YOY Growth||Revenue Share in Q1 2021|
|Molecular Diagnostic Solutions||$8.36||$60.26||620.81%||16.06%|
|Specialized Diagnostic Solutions||$16.46||$10.85||-34.08%||2.89%|
(All figures in millions, except percentages)
Quidel Corporation’s total revenue rose from $174.65 million in Q1 2020 to $375 million in Q1 2021, it increased by 114.90% on a year-on-year basis.
Quidel Corporation generated $66.55 million from its Cardiometabolic Immunoassay during Q1 2021. The revenue from this segment increased by 23.47% year-over-year from $53.90 million in Q1 2020 and contributed 17.73% of the company’s total revenue generated in Q1 2021.
Molecular Diagnostic Solutions
Developing new models of human illness for drug and bioactive testing is referred to as Molecular Diagnostic Solutions. Proteomic, genomic, and epigenetic screening is used to find novel biomarkers. Due to the covid’s antigen tests, this segment’s revenue increased by 620.81%.
The Molecular Diagnostic Solutions segment generated $60.26 million in Q1 2021 which accounted for 16.06% of the company’s total revenue. The revenue was increased from $8.36 million in Q1 2020.
Quidel Corporation generated $237.67 million from its Rapid Immunoassay during Q1 2021. The revenue from this segment showed positive growth of 147.75% year-over-year from $95.93 million in Q1 2020 and contributed 63.32% of the company’s total revenue generated in Q1 2021.
Specialized Diagnostic Solutions
Specialized Diagnostic Solutions for Research Institutions, include cell culture-based direct fluorescent antibody (DFA) and ELISA microtiter-based Complement Pathway and Bone Health tests.
The Specialized Diagnostic Solutions segment generated $10.85 million in Q1 2021 which accounted for 2.89% of the company’s total revenue. The revenue was increased from $16.46 million in Q1 2020.
Quidel was established in 1981 by Dr. David H. Katz, M.D., and its first products were released in 1984. Quidel Corporation was formed by the merger of Quidel and Monoclonal Antibodies in 1991. It is headquartered in San Diego, California, United States. As of December 31, 2020, the company employed around 1,370 employees worldwide, with approximately 1,200 employees in the United States.
Quidel Corporation has acquired Metra Biosystems, Litmus Concepts, Inc., Diagnostic Hybrids, Inc., and BioHelix Corporation. Centric Health, Benchmark Senior Living, Greystone Health, and Aviacode are among Quidel’s main competitors. The stocks of Quidel Corporation are listed on the New York Stock Exchange under the ticker symbol “QDEL”.
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