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2024 U.S. Industry Statistics & Market Forecast - In-Vitro Diagnostic Substance Manufacturing
Market Size & Industry Statistics
The total U.S. industry market size for In-Vitro Diagnostic Substance Manufacturing:
Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders.
In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.
Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.
| Statistics | 2019 2020 2021 2022 2023 | |
|---|---|---|
| Market Size (Total Sales/Revenue) |
Order at top of page | |
| Total Firms | ||
| Total Employees | ||
| Average Revenue Per Firm | ||
| Average Employees Per Firm | ||
| Average Revenue Per Employee | ||
Market Forecast
Market forecasts show the long term industry outlook and future growth trends. The following extended five-year forecast projects both short-term and long-term trends.
| Forecast / Industry Outlook | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|
| Market Forecast ($ millions) | |||||
| Projected Industry Growth Rate (%) | |||||
Industry Insights
Major trends affect the In-Vitro Diagnostic Substance Manufacturing industry include:- Increased regulation and compliance measures
- Growth in personalized medicine
- Advancements in biotechnology
- Rise in chronic diseases
- Expansion of point-of-care diagnostics
- Adoption of molecular diagnostics
- Increase in healthcare expenditure globally
- Technological innovations in diagnostics
- Impact of artificial intelligence and machine learning
- Expansion in emerging markets
- Aging population
- Demand for non-invasive diagnostic options
- Integration of cloud computing and IoT in diagnostics
- Shifts towards automation in laboratory processes
- Emphasis on cost-effective diagnostic solutions
- COVID-19 pandemic influence on diagnostic testing demand and innovation
- Environmental sustainability pressures in manufacturing processes
U.S. Geographic Distribution: Revenue Statistics by State
Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.
Income Statement (Average Financial Metrics)
Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.| Industry Average | Percent of Sales (Industry Benchmark) |
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|---|---|---|
| Total Revenue | Order at top of page |
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| Operating Revenue | ||
| Cost of Goods Sold | ||
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Operating Expenses | ||
| Pension, profit sharing plans, stock, annuity | ||
| Repairs | ||
| Rent paid on business property | ||
| Charitable Contributions | ||
| Depletion | ||
| Domestic production activities deduction | ||
| Advertising | ||
| Compensation of officers | ||
| Salaries and wages | ||
| Employee benefit programs | ||
| Taxes and Licenses | ||
| Bad Debts | ||
| Depreciation | ||
| Amortization | ||
| Other Operating Expenses | ||
| Total Operating Expenses | ||
| Operating Income | ||
| Non-Operating Income | ||
| EBIT (Earnings Before Interest and Taxes) | ||
| Interest Expense | ||
| Earnings Before Taxes | ||
| Income Tax | ||
| Net Profit Net Income | ||
Financial Ratio Analysis
Financial ratio information can be used to benchmark how a In-Vitro Diagnostic Substance Manufacturing company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.| Profitability & Valuation Ratios | Industry Average |
|---|---|
| Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the In-Vitro Diagnostic Substance Manufacturing industry is performing. | |
| Profit Margin Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues. |
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| Return on Equity (ROE) Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings). |
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| Return on Assets (ROA) Return on Assets (ROA) is net income relative to total assets. The market research on In-Vitro Diagnostic Substance Manufacturing measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets. |
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| Liquidity Ratios | Industry Average |
|---|---|
| Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability. | |
| Current Ratio Measures a firm's ability to pay its debts over the next 12 months. |
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| Quick Ratio (Acid Test) Calculates liquid assets relative to liabilities, excluding inventories. |
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| Efficiency Ratios - Key Performance Indicators | Industry Average |
|---|---|
| Measure how quickly products and services sell, and effectively collections policies are implemented. | |
| Receivables Turnover Ratio If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections. |
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| Average Collection Period Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover |
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| Inventory Turnover A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort. |
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| Fixed-Asset Turnover Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue. |
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Compensation & Salary Surveys for Employees
Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.| Title | Percent of Workforce | Bottom Quartile | Average (Median) Salary | Upper Quartile |
|---|---|---|---|---|
| Management Occupations | 12% | Order at top of page |
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| Chief Executives | 0% | |||
| General and Operations Managers | 2% | |||
| Operations Specialties Managers | 5% | |||
| Business and Financial Operations Occupations | 8% | |||
| Business Operations Specialists | 7% | |||
| Architecture and Engineering Occupations | 5% | |||
| Life, Physical, and Social Science Occupations | 14% | |||
| Life Scientists | 5% | |||
| Office and Administrative Support Occupations | 8% | |||
| Production Occupations | 34% | |||
| Other Production Occupations | 29% | |||
| Chemical Processing Machine Setters, Operators, and Tenders | 9% | |||
| Chemical Equipment Operators and Tenders | 8% | |||
| Packaging and Filling Machine Operators and Tenders | 10% | |||
| Packaging and Filling Machine Operators and Tenders | 10% | |||
| Transportation and Material Moving Occupations | 5% | |||
In-Vitro Diagnostic Substance Manufacturing Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the In-Vitro Diagnostic Substance Manufacturing industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the In-Vitro Diagnostic Substance Manufacturing industry and adjacent sectors:| Market Leaders: Direct Competitors Companies with the largest market share, focused in this industry |
Market leaders: Diversified Competitors Largest companies that have diversified operations in this and other industries |
| Innovators: Direct Competitors Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry. |
Innovators: Diversified Competitors Innovators and Disruptors in adjacent industries that may also affect the In-Vitro Diagnostic Substance Manufacturing industry. |
Source:
Innovation News
- Feb 29, 2024: Access Bio patents Diagnostic Assay Device Having Microreactor
- Feb 29, 2024: Access Bio patents Diagnostic Assay Methods Using Assay Device Having Microreactor
- Jan 11, 2024: Uh-OH Labs patents Looped Primer And Loop-de-loop Method For Detecting Target Nucleic Acid
- Jan 09, 2024: Nvigen trademarks "NVIGEN" - Biotechnology research; Research and development in the pharmaceutical and biotechnology fields; Providing information on the subject of scientific research in the field of biochemistry and biotechnology
- Oct 06, 2023: Zepto Life Technology trademarks "ZEPTO" - Medical testing for diagnostic and treatment purposes
- Jun 20, 2023: Cue Health trademarks "CUE CARE" - Downloadable software in the nature of a mobile application for medical diagnostic test reporting, providing diagnostic test proctoring, accessing telehealth services, ordering and scheduling medical testing, requesting medical prescriptions, and scheduling medical prescription delivery
- Nov 20, 2020: Access Bio raises $10 million in funding.
- Apr 06, 2016: Access Bio raises $8 million in funding.
- May 24, 2011: Access Bio raises $12 million in funding.
Recent Federal Contracts for In-Vitro Diagnostic Substance Manufacturing
- Apr 02, 2024: BIOFIRE DIAGNOSTICS, LLC (Salt Lake City, UT) awarded $24,987
- Apr 02, 2024: QIAGEN, LLC (Germantown, MD) awarded $32,204
- Apr 02, 2024: ZOETIS INC. (Parsippany, NJ) awarded $768,140
- Apr 02, 2024: GOVERNMENT SCIENTIFIC SOURCE, INC. (Reston, VA) awarded $1,584,556
- Apr 02, 2024: 10X GENOMICS, INC. (Pleasanton, CA) awarded $24,999
- Apr 02, 2024: HELENA LABORATORIES CORPORATION (Beaumont, TX) awarded $40,248
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