Fourth-quarter sales of 10.1 billion, which were negatively impacted by an expected year-over-year decline in COVID-19 testing-related sales, decreased 12.0 percent on a reported basis and 6.1. However, diabetes care grew 25.9% in the third quarter of 2020.Īn overview of how Abbott Laboratories will be affected by the COVID-19 pandemic. 25, 2023 /PRNewswire/ - Abbott (NYSE: ABT) today announced financial results for the fourth quarter ended Dec. However, core laboratory diagnostics sales growth was negatively impacted by lower routine diagnostics testing volumes.ĭue to the negative business impact of COVID-19, both cardiovascular and neuromodulation businesses were negatively impacted by reduced procedure volumes due to the pandemic. Rapid Diagnostics experienced a growth in sales by 83.2% because of the strong demand of the Abbott’s POC ID NOW COVID-19 molecular test. Molecular diagnostics saw 313.1% growth in its third quarter due to the launch of critical new tests for COVID-19: Abbott's laboratory-based molecular tests for COVID-19 on its m2000™ and Alinity™ m platforms. – It offers an overview of the company’s revenue impact by region and market for 2020 due to the COVID-19 outbreak.Ībbott reported third-quarter worldwide sales increased 9.6% with diagnostic sales increased 38.8% and medical devices sales increased 3.4%. The factors such as increasing geriatric. – It provides insights on Abbott Laboratories's exposure to the regions and businesses impacted by the COVID-19 outbreak. medical diagnostics market is anticipated to reach US41.95 billion in 2027, witnessing growth at a CAGR of 4.62, over the period 2023-2027. ![]() The report provides a comprehensive analysis of the impact of COVID-19 on Abbott Laboratories – The report, COVID-19 Impact on Abbott Laboratories Revenue and Operations (Medical Devices) presents a deep dive analysis into how Abbott Laboratories is placed to respond to the COVID-19 crisis, by examining its sector performance and competitiveness. ![]() It also provides biologic solutions for the dental markets. Abbott's product range includes Continuous Glucose Monitoring Remote Heart-Failure Monitoring Chronic-Pain Devices Blood and Plasma Screening Point-of-care Testing Adult and Pediatric Nutrition and also serves in providing the solutions for the treatment of heart failure heart valve disorders diseases of the coronary artery and other heart related diseases. Abbott is a medical technology company which designs, develops, manufactures and markets a wide range of medical devices, diagnostics, nutritional and generic medicines products, headquartered in United States, with global manufacturing and sales reach.
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