Conor Stewart
Research expert covering health & pharmaceuticals in the UK & Europe
Get in touch with us nowThe important numbers
The revenues of Abbott inevitably declined when the company was split in 2013, due to it losing the huge part which was to become AbbVie. However, revenue has again increased significantly in recent years. In 2022, the diagnostics segment was the largest within the company and generated over 16 billion U.S. dollars in revenues. Furthermore, the medical devices segment also generated a significant amount for the company with 15.6 billion U.S. dollars in revenue during that year. In geographical terms, the U.S. was by far the most important market for Abbott, dwarfing the revenue made in almost every other country it is present in. The number of employees within the company has increased over the last several years, showing that the business is in a very strong position.Position of Abbott’s in comparison to rivals
In terms of global positioning of medtech companies, Abbott placed above companies such as Johnson & Johnson and Siemens, and only below Medtronic Inc. The Illinois company had around a 5.5 percent share of the total medical technology market. Abbott was further forecast to hold this position as the second largest company in medtech until at least 2028. Although their hold in the market was forecast to decrease slightly to just over five percent.
