We develop and market systems and reagents that generate clinical diagnostic test results using tissue and fluid analysis – a process known as in-vitro diagnostics. This information helps physicians make diagnoses, manage patient conditions and monitor medical therapies in areas such as diabetes, cardiovascular disease and bleeding disorders. Our solutions range from point-of-care applications to hospital, specialty and reference laboratory systems, producing high-quality outcomes that save time, money and lives.
Donal Quinn, CEO
Clinical laboratory diagnostics is a stable and growing industry. Due to multi-year customer contracts and proprietary reagents for systems, approximately 80 percent of our revenue base is recurring. We expect growth to be spurred by the expanding and aging population, the development of new tests and increasing demand in emerging markets.
Both complex tests and those as ordinary as urine-strip tests have enormous potential: approximately 70 percent of all medical decisions are based on diagnostic test results. With the right diagnostic tools, many conditions such as cancer, cardiovascular disease and kidney failure can be detected at an early stage, making it possible to improve the quality of patient care while lowering healthcare spending. Diagnostic tests are also used to monitor patient therapy – for instance, by tracking the efficacy of anti-coagulant drugs – thus ensuring that patient treatments are having the desired effect.
Our customers benefit from our solutions in several ways. Offering over 900 tests, we boast the industry’s largest diagnostic test menu, encompassing dozens of disease states. We also offer a comprehensive portfolio of analyzers capable of serving laboratories of any size, focusing on helping customers improve both the efficiency of their labs and the quality of patient care. Our Dimension family of products is a good example: uniquely integrating the functionality of multiple instruments into a single system, the Dimension family is enabling clinical laboratories to save valuable space, minimize labor costs and reduce the time needed to produce patient test results. The success of this approach is measurable: over the last ten years the share of integrated systems in the U.S. hospital market has grown from zero to 53 percent. Our Division, which was created by the merger of Diagnostic Products Corporation, Bayer HealthCare Diagnostics Division and Dade Behring, produces at least 80 percent of these systems.
The global in-vitro diagnostics market exceeds €20 billion, and, with a 17 percent market share, Siemens Healthcare Diagnostics holds the leading position. We boast nearly 15,000 employees and approximately 30,000 customers. Well over 125,000 of our instruments have been installed worldwide.
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