[Ranking] TOP 24 Medical Laboratories / Healthcare Companies Q3/2023
Intro
The medical laboratory industry plays a critical role in the worldwide economy by providing essential diagnostic services to healthcare providers and patients. These laboratories specialize in conducting various tests on patient samples, such as blood, urine, and tissue, to aid in the diagnosis, treatment, and prevention of diseases.
With the increasing demand for healthcare services, the medical laboratory industry has experienced significant growth and has a profound influence across diverse sectors. The accurate and timely results produced by these laboratories are crucial for guiding medical decisions, improving patient outcomes, and reducing healthcare costs.
The economic magnitude of the medical laboratory industry is substantial and continues to grow. According to industry reports, the global market for medical laboratories is projected to reach billions of dollars in the coming years. This upward trajectory is driven by factors such as the aging population, advancements in technology, and the rising prevalence of chronic diseases.
In recent years, the medical laboratory industry has witnessed notable trends and breakthroughs that are shaping its landscape. These include the integration of artificial intelligence and automation into laboratory processes, the emergence of personalized medicine and genetic testing, and the increasing focus on preventive healthcare.
The medical laboratory industry is dynamic and constantly evolving, driven by advancements in technology, changes in healthcare policies, and shifting patient needs. This ever-changing landscape creates both challenges and opportunities for the leading companies in the industry, as they strive to stay at the forefront of innovation and provide high-quality services.
Ranking
#24 Genomic Vision
Employees: 0.1K
Revenue: 5M$
Website: https://www.genomicvision.com
Description: Genomic Vision is a healthcare company headquartered in Bagneux, France. Founded in 2004, the company specializes in the field of genomics and operates in medical laboratories. With approximately 100 employees, Genomic Vision focuses on developing and commercializing diagnostic solutions for genetic disorders and other diseases. The company's innovative technology, known as Molecular Combing, allows for the visualization and analysis of individual DNA molecules, enabling the detection of genetic variations and structural rearrangements. Genomic Vision aims to provide accurate and reliable diagnostic tools to healthcare professionals, ultimately improving patient care and outcomes.
#23 Veracyte
Employees: 1.2K
Revenue: 150M$
Website: https://www.veracyte.com/
Description: Veracyte, headquartered in South San Francisco, United States, is a leading company in the Medical Laboratories industry. Founded in 2008, Veracyte has grown to employ approximately 1.2 thousand professionals. The company specializes in developing genomic tests that help physicians diagnose and manage complex diseases like cancer. Veracyte's tests are designed to provide reliable and accurate results to guide treatment decisions, reducing unnecessary surgeries and improving patient outcomes. With a focus on molecular diagnostics, Veracyte combines advanced genomic technology, machine learning, and artificial intelligence to deliver innovative solutions. The company's revenue stands at around 150 million dollars, reflecting its success and impact in the healthcare industry.
#22 Enzo Biochem
Employees: 1.2K
Revenue: 150M$
Website: https://www.enzolifesciences.com/
Description: Enzo Biochem is a medical laboratory company based in New York City, United States. The company was founded in 1976 and currently employs approximately 1.2 thousand employees. Enzo Biochem operates in the healthcare industry, specifically in medical laboratories. They provide a wide range of services and products in the field of life sciences, including molecular biology, immunology, and cellular analysis. With their advanced diagnostic technologies, Enzo Biochem aims to support medical professionals in accurately diagnosing and monitoring diseases. The company generates an estimated revenue of 150 million dollars annually.
#21 Fulgent Genetics
Employees: 1.2K
Revenue: 200M$
Website: https://www.fulgentgenetics.com/
Description: Fulgent Genetics, headquartered in Temple City, United States, is a prominent player in the Medical Laboratories industry. Since its establishment in 2011, the company has been at the forefront of providing innovative genetic testing solutions. With a workforce of around 1,200 employees, Fulgent Genetics has made significant contributions to the healthcare sector. The company has generated an impressive revenue of 200 million dollars, showcasing its strong presence in the market. Fulgent Genetics is known for its cutting-edge technology and comprehensive testing capabilities, enabling healthcare professionals to make accurate diagnoses and personalized treatment plans. With its commitment to quality and customer satisfaction, Fulgent Genetics continues to drive advancements in the field of medical genetics.
#20 GenMark Diagnostics
Employees: 1.2K
Revenue: 200M$
Website: https://www.genmarkdx.com/
Description: GenMark Diagnostics, headquartered in Carlsbad, United States, is a leading player in the Medical Laboratories industry. Since its establishment in 2010, the company has made significant contributions to the field of healthcare. With a workforce of approximately 1.2 thousand employees, GenMark Diagnostics has successfully positioned itself as a key player in the market. The company has achieved an impressive revenue of 200 million US dollars, solidifying its financial position in the industry. GenMark Diagnostics specializes in developing and commercializing molecular diagnostic testing systems that enable efficient and accurate diagnosis of various diseases. Their advanced technology and innovative solutions have revolutionized medical laboratories, providing healthcare professionals with reliable and rapid diagnostic results to improve patient outcomes.
#19 Invitae Corporation
Employees: 1.5K
Revenue: 300M$
Website: https://www.invitae.com
Description: Invitae Corporation, based in San Francisco, United States, is a leading player in the Medical Laboratories industry. Since its founding in 2010, Invitae has been dedicated to providing comprehensive genetic information to improve healthcare outcomes. With a team of approximately 1,500 employees, Invitae operates in the fast-growing field of genetic testing and diagnostics. The company offers a wide range of genetic tests for various diseases and conditions, including hereditary cancer, cardiovascular disorders, and rare genetic disorders. Invitae's innovative approach combines advanced technology with extensive genetic data to deliver high-quality, affordable genetic testing solutions to patients and healthcare providers. In 2020, Invitae reported revenue of 300 million dollars, solidifying its position as a key player in the medical laboratories industry.
#18 HTG Molecular Diagnostics
Employees: 100M
Revenue: 500M$
Website: https://www.htgmolecular.com/
Description: HTG Molecular Diagnostics is a leading company in the Medical Laboratories industry. Based in Tucson, United States, the company was founded in 2002. With a workforce of approximately 100 million employees, HTG Molecular Diagnostics specializes in developing and providing innovative molecular profiling solutions. The company's advanced technology platforms enable precise measurement of gene expression levels, offering valuable insights into various diseases and conditions. HTG Molecular Diagnostics plays a crucial role in the healthcare sector by empowering researchers, clinicians, and biopharmaceutical companies with accurate and reliable molecular profiling tools. With an annual revenue of 500 million US dollars, the company continues to pave the way for advancements in precision medicine and personalized healthcare.
#17 Guardant Health
Employees: 2K
Revenue: 500M$
Website: https://www.guardanthealth.com
Description: Guardant Health, headquartered in Redwood City, United States, is a leading player in the Medical Laboratories industry. Founded in 2012, the company has quickly established itself as a key player in the field. With a workforce of approximately 2,000 employees, Guardant Health is dedicated to improving patient care by developing and commercializing advanced genomic testing solutions. The company's innovative liquid biopsy technology enables comprehensive genomic profiling, aiding in the early detection and monitoring of cancer. Guardant Health's revenue stands at an impressive 500 million dollars, reflecting its significant market presence and success in the healthcare sector.
#16 Natera
Employees: 1.2K
Revenue: 500M$
Website: https://www.natera.com
Description: Natera, headquartered in San Carlos, United States, is a leading company in the Medical Laboratories industry. Since its founding in 2004, Natera has been at the forefront of developing and commercializing innovative genetic testing and molecular diagnostic solutions. With a team of approximately 1.2K employees, the company is dedicated to helping healthcare professionals and patients make informed decisions about their health through advanced genetic testing technology. Natera's comprehensive product portfolio includes tests for preconception and prenatal genetic testing, oncology testing, and organ transplant monitoring. The company's commitment to scientific research and technological advancements has positioned it as a trusted partner for medical laboratories worldwide, enabling improved patient care and personalized medicine.
#15 Genomic Health
Employees: 1.2K
Revenue: 600M$
Website: https://www.genomichealth.com
Description: Genomic Health is a leading company in the Medical Laboratories industry, headquartered in Redwood City, United States. Founded in 2000, the company specializes in genetic testing and diagnostics to provide personalized information to healthcare professionals and patients. With a workforce of approximately 1.2 thousand employees, Genomic Health focuses on developing and commercializing genomic-based clinical laboratory services, including the Oncotype DX portfolio of tests for breast, colon, and prostate cancers. These tests analyze the unique genomic makeup of individual patients to guide treatment decisions, optimize patient outcomes, and reduce healthcare costs. Genomic Health generates a revenue of around 600 million dollars annually, contributing significantly to the advancement of personalized healthcare in the industry.
#14 NeoGenomics
Employees: 2.5K
Revenue: 750M$
Website: https://www.neogenomics.com/
Description: NeoGenomics is a leading medical laboratory company operating in the healthcare industry. Headquartered in Fort Myers, United States, NeoGenomics focuses on providing comprehensive cancer diagnostics and genetic testing services. Founded in 1999, the company has grown to employ approximately 2.5 thousand employees. With a revenue of 750 million dollars, NeoGenomics offers advanced testing and analysis solutions to help healthcare professionals make accurate diagnoses and treatment decisions. The company's dedication to precision medicine and personalized patient care has positioned them as a trusted partner in the fight against cancer and other genetic diseases. Through their innovative technologies and expert team, NeoGenomics plays a crucial role in advancing the field of molecular diagnostics in the medical laboratory industry.
#13 Exact Sciences Corporation
Employees: 4.5K
Revenue: 1.2B$
Website: https://www.exactsciences.com
Description: Exact Sciences Corporation, headquartered in Madison, United States, is a leading player in the Medical Laboratories industry. Founded in 1995, the company has grown to employ approximately 4.5 thousand professionals. With a revenue of 1.2 billion dollars, Exact Sciences Corporation specializes in the development and commercialization of diagnostic tests for various types of cancer. Their flagship product, Cologuard, is a non-invasive screening test for colorectal cancer that has gained significant recognition in the healthcare sector. The company's commitment to early detection and prevention of cancer has positioned them as a key player in the medical laboratories industry, contributing to advancements in cancer diagnostics and improving patient outcomes.
#12 Myriad Genetics
Employees: 2.5K
Revenue: 1.2B$
Website: https://www.myriad.com
Description: Myriad Genetics, headquartered in Salt Lake City, Utah, is a leading company in the Medical Laboratories industry. Founded in 1991, the company specializes in molecular diagnostics and personalized medicine. With a workforce of approximately 2,500 employees, Myriad Genetics offers a range of genetic tests and laboratory services to healthcare providers and patients worldwide. The company's innovative products and services encompass areas such as hereditary cancer, prenatal screening, pharmacogenomics, and companion diagnostics. Myriad Genetics plays a critical role in advancing precision medicine by providing actionable genetic information that helps guide medical decisions and improve patient outcomes. With an annual revenue of around 1.2 billion dollars, Myriad Genetics continues to be at the forefront of genetic testing and molecular diagnostics.
#11 Opko Health
Employees: 6.5K
Revenue: 1.3B$
Website: https://www.opko.com
Description: Opko Health, headquartered in Miami, United States, is a leading company in the Medical Laboratories industry. Founded in 2007, the company has grown to employ approximately 6.5 thousand employees. With a revenue of 1.3 billion dollars, Opko Health operates in various areas within the healthcare sector, with a specific focus on medical laboratories. The company is involved in the development, production, and distribution of innovative diagnostic tests, pharmaceuticals, and medical devices. Opko Health's dedication to research and development has led to the creation of cutting-edge technologies and products that improve patient outcomes and contribute to advancements in the medical field. Through its extensive network of laboratories, Opko Health plays a crucial role in providing accurate and timely diagnostic services, supporting healthcare providers in their efforts to deliver quality care.
#10 Qiagen
Employees: 5.0K
Revenue: 1.5B$
Website: https://www.qiagen.com
Description: Qiagen, headquartered in Hilden, Germany, is a leading provider of sample and assay technologies for molecular diagnostics, applied testing, academic and pharmaceutical research. The company operates in the Medical Laboratories industry within the Healthcare sector. Qiagen develops and manufactures innovative products used in the analysis of biological samples, such as blood, tissue, and DNA. Their solutions enable researchers and healthcare professionals to gain insights into diseases, genetic variations, and drug responses. With a workforce of approximately 5,000 employees, Qiagen generates revenue of 1.5 billion dollars. The company's mission is to make improvements in life possible by enabling their customers to achieve outstanding success in molecular biology research, diagnostics, and applied testing.
#9 Bruker Corporation
Employees: 6.5K
Revenue: 1.8B$
Website: https://www.bruker.com/
Description: Bruker Corporation, headquartered in Billerica, United States, is a leading company in the Medical Laboratories industry. Founded in 1960, Bruker specializes in developing and manufacturing scientific instruments and analytical solutions for various fields, including healthcare. With a workforce of approximately 6.5 thousand employees, the company operates globally and caters to the needs of medical laboratories worldwide. Bruker offers a wide range of innovative products and technologies that are utilized in medical research, diagnostics, and drug discovery. The company's revenue stands at around 1.8 billion US dollars, reflecting its significant presence and success in the healthcare industry.
#8 Bio-Rad Laboratories
Employees: 8K
Revenue: 2B$
Website: https://www.bio-rad.com
Description: Bio-Rad Laboratories, headquartered in Hercules, California, is a leading company in the Medical Laboratories industry. Since its founding in 1952, the company has been committed to providing innovative solutions for healthcare professionals. With over 8,000 employees, Bio-Rad Laboratories has established a strong presence in the industry. The company generates an impressive revenue of 2 billion dollars, showcasing its financial success. Bio-Rad Laboratories specializes in developing and manufacturing a wide range of products and systems for medical laboratories. Their offerings include diagnostic tests, instrumentation, reagents, and software, enabling medical professionals to conduct accurate and efficient laboratory testing. With a focus on quality, reliability, and customer satisfaction, Bio-Rad Laboratories continues to play a vital role in advancing healthcare worldwide.
#7 Charles River Laboratories International
Employees: 17K
Revenue: 2.8B$
Website: https://www.criver.com
Description: Charles River Laboratories International, headquartered in Wilmington, United States, is a leading company in the Medical Laboratories industry. Established in 1947, the company has a workforce of approximately 17,000 employees worldwide. With a revenue of 2.8 billion dollars, Charles River Laboratories offers a wide range of services and solutions to support research and development in the healthcare sector. They specialize in providing research models, preclinical and clinical support, as well as laboratory services to pharmaceutical, biotechnology, and medical device companies. With their state-of-the-art facilities and expert scientific teams, Charles River Laboratories plays a crucial role in advancing drug discovery, safety assessment, and scientific research in the field of healthcare.
#6 Illumina
Employees: 7K
Revenue: 3.5B$
Website: https://www.illumina.com/
Description: Illumina, headquartered in San Diego, United States, is a leading company in the Medical Laboratories industry. Founded in 1998, the company has grown to employ approximately 7,000 employees globally. With a revenue of 3.5 billion USD, Illumina specializes in providing sequencing and array-based solutions for genetic and genomic analysis. Their innovative technologies enable researchers and healthcare professionals to study complex diseases, develop personalized medicine, and improve the overall understanding of the human genome. Illumina's cutting-edge products and services are widely used in medical laboratories worldwide, contributing to advancements in healthcare and precision medicine.
#5 PerkinElmer
Employees: 14.5K
Revenue: 3.9B$
Website: https://www.perkinelmer.com/
Description: PerkinElmer is a leading company in the medical laboratories industry, operating globally with its headquarters in Waltham, United States. Founded in 1937, the company has a workforce of approximately 14.5 thousand employees. With a revenue of 3.9 billion dollars, PerkinElmer is dedicated to providing innovative solutions and services that enable healthcare professionals to improve patient outcomes. They offer a wide range of products and technologies, including diagnostic equipment, laboratory instruments, and consumables. PerkinElmer's expertise lies in areas such as genetic screening, infectious disease testing, and environmental health. The company's commitment to advancing healthcare and improving lives has established them as a trusted partner for medical laboratories worldwide.
#4 Agilent Technologies
Employees: 16K
Revenue: 5.3B$
Website: https://www.agilent.com
Description: Agilent Technologies, headquartered in Santa Clara, United States, is a leading company in the Medical Laboratories industry. Since its founding in 1999, Agilent has been at the forefront of developing innovative solutions for healthcare and medical laboratories. With a workforce of approximately 16,000 employees, Agilent is dedicated to providing cutting-edge technologies and products that enable accurate and reliable diagnostic testing. The company's revenue reached an impressive 5.3 billion dollars, reflecting its strong position in the market. Agilent Technologies continues to drive advancements in medical laboratory equipment, software, and services, contributing to improved patient care and healthcare outcomes.
#3 Quest Diagnostics
Employees: 46K
Revenue: 7.7B$
Website: https://www.questdiagnostics.com
Description: Quest Diagnostics, headquartered in Secaucus, United States, is a leading player in the Medical Laboratories industry. Founded in 1967, Quest Diagnostics operates a vast network of medical laboratories, providing a wide range of diagnostic testing services to healthcare providers and patients. With approximately 46,000 employees, Quest Diagnostics offers services such as routine blood tests, infectious disease testing, genetic testing, and drug testing. The company's extensive network allows for efficient sample collection, testing, and analysis, delivering accurate and timely results. Quest Diagnostics plays a crucial role in supporting healthcare professionals in diagnosing and monitoring various medical conditions, enabling better patient care and treatment decisions. With an annual revenue of 7.7 billion dollars, Quest Diagnostics continues to contribute significantly to the advancement of medical diagnostics and improving patient outcomes.
#2 Laboratory Corporation Of America
Employees: 70K
Revenue: 15B$
Website: https://www.labcorp.com/
Description: Laboratory Corporation Of America, headquartered in Burlington, United States, is a leading player in the Medical Laboratories industry. Since its founding in 1978, the company has grown to employ approximately 70,000 employees globally. With a revenue of 15 billion dollars, LabCorp offers a wide range of medical laboratory services, including clinical testing, drug development, and diagnostics. They provide services to healthcare providers, pharmaceutical companies, and government agencies, and are known for their advanced technology and high-quality testing. LabCorp is committed to delivering accurate and timely results to support patient care and improve health outcomes. With its strong presence and extensive capabilities, LabCorp continues to be a key player in the healthcare industry.
#1 Thermo Fisher Scientific
Employees: 75K
Revenue: 36B$
Website: https://www.thermofisher.com/
Description: Thermo Fisher Scientific, headquartered in Waltham, United States, is a leading company in the Medical Laboratories industry. With a history dating back to 2006, the company has established itself as a major player in the healthcare sector. Thermo Fisher Scientific employs approximately 75,000 individuals globally, contributing to its success in generating an impressive revenue of 36 billion US dollars. The company's dedication to providing innovative solutions and advanced technologies has made it a trusted partner for medical laboratories worldwide. Thermo Fisher Scientific is committed to advancing healthcare by offering a wide range of products and services that support research, diagnostics, and drug discovery. Through its state-of-the-art laboratory equipment and scientific expertise, the company continues to drive advancements in medical laboratory practices and contribute to the overall improvement of patient care.
Summary
The analysis of the top companies in the Medical Laboratories sub-industry has revealed some interesting findings. With a focus on providing diagnostic testing services, these companies play a crucial role in the healthcare sector. The top companies in this sub-industry include Quest Diagnostics, Laboratory Corporation of America Holdings (LabCorp), and Sonic Healthcare.
One unexpected finding is the significant increase in demand for COVID-19 testing, which has greatly impacted the operations of these companies. They have swiftly adapted to meet the surge in testing needs, contributing to their success and recognition.
Quest Diagnostics, as one of the leading players, operates a vast network of labs and patient service centers across the United States. LabCorp, another prominent company, offers a comprehensive range of laboratory testing services, including genomic testing and clinical trials. Sonic Healthcare, an Australian-based company, is globally recognized for its extensive network of pathology laboratories.
These top companies share a commitment to delivering accurate and timely results, ensuring quality patient care. They have invested heavily in advanced technology and state-of-the-art equipment, enabling them to process a large volume of tests efficiently. Additionally, they prioritize collaborations with healthcare providers, fostering strong relationships and expanding their reach.
What sets these eminent companies apart is their dedication to innovation and research. They continually strive to advance medical testing capabilities, driving breakthroughs in diagnostics. Furthermore, their global presence enables them to leverage economies of scale, offering competitive pricing while maintaining high-quality standards.