The financial report of 2021q1, the fourth largest IVD, was that Abbott rose nearly 120 percent, and

From May 2, 2021 09:04 interface news

In 2021, emerge in an endless stream of COVID-19, the global COVID-19 continues to spread, and COVID-19's demand for Q1 detection is also high. The IVD giants have achieved at least two digit growth driven by the revenue of the new crown diagnostic products. Abbott has made an explosive growth of three figures with its rich product mix.

The top four Q1 diagnostic business ranks still, Roche is the first, Abbott is the second, Danaher is the third, Siemens Medical is the fourth.

*The Q1 range of Siemens Medical in fy2021 is October 1, 2020-december 31, 2020.

*At real time exchange rate: 1 Swiss Franc = US $1.0901, 1 euro = US $1.2022.

Roche: the diagnostic business has the first revenue (chf43.3 billion). Affected by the decline of pharmaceutical business, the group's Q1 total revenue was -1% year-on-year, but the diagnosis business has a good growth rate of +50%, of which POC immunodiagnosis rose 1532%, which became the strongest driving force for growth.

Abbott: the growth rate of diagnostic business was the first (+119.8%), and the proportion of total revenue was the highest among the four (38%). Abbott quickly iterates over multiple covid-19 diagnostic products. The rapid diagnosis and molecular diagnosis business soared 302.8% and 220.9% in Q1 respectively. The international market has become the growth engine.

Danaher: diagnosis business + 34% year on year. It has played a leading role in the rapid growth of overall performance (+34.5%).

Siemens Medical: thanks to the stable growth of sales and core business of rapid covid-19 antigen detection, the growth of diagnosis business +23%, China has become the regional performance pillar with a growth rate of +25%.

01. Revenue comparison: both achieve double-digit high growth

Roche diagnosis: revenue first, accounting for 10% increase, POC immunodiagnosis soared 1532%

Roche's overall revenue in 2021 was CHF 14.43 billion (about $16.275 billion), and was -1% year-on-year (at a fixed exchange rate of + 3% year on year). Among them,

Pharmaceutical business declined significantly, with a year-on-14%;

The growth of diagnostic business was strong, with a year-on-year growth of +50%, offsetting the decline in some pharmaceutical businesses.

The diagnostic business contributed 29% of Roche's global revenue, accounting for 10% increase.

▲ overall revenue of Roche in fy2021

Diagnostic business revenue

Thanks to the comprehensive and growing covid-19 testing portfolio, Roche Diagnostics Q1 revenue reached 4.33 billion Swiss francs (about $4.72 billion), representing a year-on-year +50%.

The covid-19 test showed a further growth momentum, and the regular business also showed strong growth.

▲ revenue from Q1 diagnosis business in 2021 of Roche

Central laboratory: the revenue was 1.765 billion Swiss francs, which was +28% year on year, mainly due to the excellent growth of immunodiagnosis (year on year +40%), and the double-digit increase of clinical chemistry (+13%);

Molecular diagnosis: revenue of 1.107 billion Swiss francs, which was +80% year-on-year, accounting for 25.6%, up 4%. The results showed that the molecular diagnosis of Virology and POC increased by +188% and + 130% respectively, which was mainly driven by the sales of SARS cov-2 detection. The lightmix series (real-time fluorescent PCR detection kit) was +55% year on year;

Diabetes management: revenue of 460million Swiss francs, year on year +8%, growth of blood glucose monitoring business, and decline of insulin delivery system business;

Pathology laboratory (original tissue diagnosis): revenue was 282million Swiss francs, year on year +4%;

Bedside diagnosis: revenue of r1616 million, up by +277% year on year, accounting for 10% to 16.5% increase. Among them, POC immunodiagnosis sales rose 1532% (mainly from the new covid-19 POC testing product portfolio), becoming the leader of Roche's diagnosis performance growth.

Abbott diagnosis: growth first, rapid diagnosis (alert business) and molecular diagnosis increased in three digits

In 2021, Q1, Abbott's revenue was US $10.456 billion, with a year-on-year revenue of +35.3%, organic year-on-year +32.9%, and the opening was smooth.

Driven by the demand for covid-19 diagnosis, the diagnostic business rose by +119.8%. The other three businesses have also seen varying levels of growth: medical equipment (+13.1%), nutrition (+6.9%), and pharmaceuticals (+2.5%).

▲ overall revenue of Abbott in fy2021

Diagnostic business revenue

Driven by the global demand for the covid-19 diagnostic product portfolio, Abbott diagnostics Q1 achieved a bright three-digit growth of +119.8% year-on-year, with a revenue of $4.414 billion. Among them,

Rapid diagnosis (ALERT's POC business): up +302.8%, revenue of 2.256 billion US dollars, exceeding half of the diagnosis revenue, and becoming the core pillar of performance;

Molecular diagnosis: double the performance, with a revenue of 447 million US dollars, with a year-on-year growth of +220.9%;

Traditional diagnosis: revenue of $1.182 billion, year-on-year +19.6%, benefited from the demand for fast and lab based covid-19 diagnostic product portfolio;

Bedside diagnosis: the only business in the diagnosis business that has declined (6.6% year on year) is mainly affected by the decline of 11.4% in the US market.

△ revenue from Q1 diagnosis business of Abbott

In the first quarter, Abbott's global sales related to covid-19 testing were $2.2 billion, of which binaxnow, panbio and id now rapid detection platforms had total sales of $1.8 billion.

Danaher diagnosis: revenue +34%, all four segments increased

In 2021, Q1, Danaher's total revenue was US $6.858 billion, which was the fastest growth rate among the four giants, with a year-on-year revenue of +58%.

The three businesses have achieved performance growth, with life science revenue doubling (+115%), diagnosis business (+34%), environmental application revenue of 1.134 billion dollars (+6.5%).

▲ Danaher's overall revenue in fy2021

Diagnostic business revenue

Danaher diagnostics achieved $2.278 billion revenue in Q1 in 2021, with 34% growth mainly due to the demand related to covid-19, and the increased demand for instruments and consumables from enterprises due to the suspension of new crown and relaxation of restrictions.

All segments of Danaher diagnostics have achieved growth, and specific growth data are not disclosed.

Among them,

Clinical laboratory business: the growth is due to the increase in demand for immunoassay and chemical product lines, driven mainly by the Chinese, Japanese and Western European markets;

Molecular diagnosis business: the main driving force of the growth of diagnostic business, and the sales growth of instruments and consumables of covid-19 diagnostic solutions is particularly strong;

Acute care diagnosis business: the growth mainly comes from the sales of blood gas and immunoassay products in Japan, China and North America;

Pathology diagnosis business: mainly benefited from the increased demand for core histology, advanced staining and pathological imaging products.

▲ revenue from Q1 diagnosis business in Danaher 2021 financial year

Siemens Medical Diagnosis: revenue +23.5%, routine detection recovery

Siemens Medical has achieved a good performance in Q1 (Oct. 1, 2020-31 December 2020) in fy2021, with a total revenue of 3.868 billion euros, representing a year-on-year +13.3%.

The three businesses increased to different degrees: imaging (+9.3%), diagnosis (+23.5%), and clinical treatment (+6.3%).

▲ Siemens Medical 2021 fiscal year Q1 overall revenue

Diagnostic business revenue

Thanks to the strong demand for covid-19 testing, Q1 of diagnostic business achieved excellent growth, with revenue of 1.183 billion euros (about US $1.422 billion), with a year-on-year revenue of +23.5%.

The growth mainly comes from:

High demand for rapid covid-19 antigen detection in Europe, Middle East and Africa;

PCR detection and antibody sales promotion;

Routine detection recovery and customer introduction.

▲ Revenue from Q1 diagnosis business in 2021 of Siemens Medical Industry

02. Regional competition: emerging markets in Asia Pacific become growth engines

Roche Diagnostics growth "dual engine": EMEA and Asia Pacific

Roche Diagnostics Q1 has achieved outstanding growth in all regions, and EMEA and Asia Pacific have become the "dual engines" of global growth,

EMEA (Europe, Middle East and Africa): Roche has the largest diagnosis and the largest increase in market, with a revenue of 1.967 billion Swiss francs, representing a year-on-year +62%;

North America: revenue of 1.051 billion Swiss francs, with a year-on-year growth of +26%, and the global share has declined by nearly 5 percentage points;

Asia Pacific region: revenue of 1.045 billion Swiss francs, accelerating the narrowing of the gap with North American market, with a proportion of revenue accounting for no difference; It was +61% year on year, which was in the same way as EMEA market;

Latin America: revenue of r267 million, year on year +48%.

▲ Roche diagnosis financial year 2021 Q1 regional revenue

Abbott diagnosed the decline in the US, with international market bright +131.9%

US market: revenue of USD 1.641 billion, which was +104.4% year-on-year, accounting for 37% of total revenue of diagnosis, which was down from 44% of Q1 in 2020. The bedside diagnosis business declined significantly, with a year-on-year growth of -11.4%, and other businesses kept increasing, especially rapid diagnosis (+199.7%) and molecular diagnosis (+168.7%);

International market: revenue of USD 2.373 billion, which was +131.9% year-on-year, accounting for 63% of total revenue of diagnosis, an increase of 7 percentage points compared with 56% in the same period last year. The international market has been very good in Q1, with four major diagnostic businesses growing strongly. Rapid diagnosis has achieved a leap forward development of five times (US $1.153million, +500.6%). Molecular diagnosis also performed well, with a year-on-year growth of +267.0%.

△ revenue from Q1 diagnostic business area in 2015 of Abbott

Danaher diagnostics high growth market +45%, China has strong growth

In 2021, all regional markets in Danaher achieved double-digit growth, among which,

North America: revenue of 972million US dollars, year on year +29%, accounting for 45% of Danaher's global diagnosis business;

Western Europe: the revenue is 415million US dollars, accounting for 19% compared with the previous year of +34%;

High growth market (Eastern Europe, Middle East, Africa, Latin America and Asia, excluding Japan, Australia and New Zealand): revenue of 673million US dollars, accounting for 31%, year on year +45%, mainly driven by China's market growth;

Other developed markets: revenue of US $118million, year on year +20%, accounting for 5%.

▲ revenue from Q1 diagnostic business area in Danaher 2021 financial year

Siemens Medical Diagnosis regional performance main force: China and Germany

Regional revenue includes all Siemens Medical services, and the three regional markets have achieved different levels of growth:

EMEA market (Europe, Commonwealth of Independent States, Africa and the Middle East): revenue of 147 million euros, year on year +26%, of which, German market performance is very bright, contributing 329million euros, year-on-year +58%;

American market: revenue of 1.306 billion euros, year on year +2%;

Asia & Australia Market: revenue of 1.1155 billion euros, year on year +13%, of which, China market contributed 587million euros, accounting for half of the total, with a year-on-year of +25%, becoming the main force of regional performance.

▲ Siemens Medical 2021 fiscal year Q1 regional revenue

03. Strategic competition: product innovation, digital and localization promotion

Roche Diagnostics: acquisition + R & D, rich product portfolio

Roche diagnostic detection and digital solutions are constantly improving in product portfolio.

Since 2021, Roche has successively acquired genmark, a molecular diagnosis company for us $1.8 billion, and launched new diagnostic products such as detection of Cobas SARS cov-2 variant group 1 and eight new flux configurations for Cobas Pro integrated solutions.

The main products listed in the 2021 plan of Roche diagnosis

▲ Roche diagnosis 2021 plan main products listed

In 2021, Roche Diagnostics plans to promote the popularity and launch of 10 products, including 4 instruments, 2 testing products and 4 digital solutions.

As the healthcare system works, routine diagnostic testing has begun to recover and covid-19 "is" unpredictable at the moment, "Mr. Rowson Schwan told investors.

Abbott diagnosis: continue to promote diversified product innovation

On March 31, 2021, Abbott announced that binaxnow covid-19 Ag antigen self-test card was granted FDA emergency use authorization (EUA) and began to sell it to retailers in various parts of the United States on April 19. Binaxnow is the most affordable over-the-counter covid-19 rapid detection in the United States.

Ganaxnow ▲ Abbott covid-19 quick diagnosis product binaxnow

In the future, Abbott will continue to drive innovation in its diversified product line to create transformation and iteration opportunities. Among them,

In the field of diagnosis, Abbott will launch the alinity series integrated diagnostic solutions.

"Over the past year, Abbott has developed high-quality, fast testing equipment and invested in U.S. factories to expand production," said Robert B. Ford, Abbott's president and chief executive. We are particularly satisfied with the growth momentum of several products recently launched and continue to forecast earnings per share to grow by more than 35 per cent this year. "

Danaher diagnosis: accelerating localization process

"The continuous development and production of covid-19 vaccines, treatment and diagnostic testing has driven record growth," said Rainer Blair, Danaher's chief executive

On JMP in 2021, Blair said Danah focused on Cepheid in molecular diagnostics, which brought about $2billion in revenue by 2020.

In addition, on March 30, 2021, the R & D and manufacturing base of Danaher diagnostic platform officially laid foundation in Suzhou Industrial Park, with an investment of over 100 million US dollars. It is expected to put into operation in 2023, further accelerating the localization process in China.

Siemens Medical Diagnosis: digital transformation

In 2021, Siemens Medical entered the second stage of "2025 strategy", which defined the priority - expanding market share and promoting the digital transformation of the company.

In the upgrade phase, Siemens Healthcare aims to increase its comparable revenue by more than 5% per year and its adjusted basic profit per share by about 10% per year.

Among them, the focus of diagnosis business is to take advantage of the market opportunities provided by the trend of laboratory diagnosis automation to promote the business of the Department to a growth level.

IVD's top four diagnostic performance ranking in Q1 of 2021 remains unchanged. Roche and Abbott not only lead Danaher and Siemens Medical in terms of diagnostic revenue, but also grow much faster than the latter, further widening the gap with the latter two.

On the other hand, Abbott, with an eye-catching growth rate of nearly 120%, has accelerated to catch up with Roche, the boss, and its performance has also exceeded the $4 billion mark. Is it expected to catch up in the future?

Molecular diagnosis and bedside diagnosis have become the growth points in recent two years.

It can be predicted that in 1-2 years, the new crown related detection and diagnosis will still be one of the main businesses in the IVD field, and the competition will be more intense.

As one of the most important markets in the world, China's excellent growth performance is bound to become a battlefield for IVD giants. Who will win in the Chinese market?

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