Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The Established Pharmaceutical Products segment provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière's disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon. The Diagnostic Products segment offers laboratory systems in the areas of immunoassay, clinical chemistry, hematology, and transfusion; molecular diagnostics systems that automate the extraction, purification, and preparation of DNA and RNA from patient samples, as well as detect and measure infectious agents; point of care systems; cartridges for testing blood; rapid diagnostics lateral flow testing products; molecular point-of-care testing for HIV, SARS-CoV-2, influenza A and B, RSV, and strep A; cardiometabolic test systems; drug and alcohol test, and remote patient monitoring and consumer self-test systems; and informatics and automation solutions for use in laboratories. The Nutritional Products segment provides pediatric and adult nutritional products. The Medical Devices segment offers rhythm management, electrophysiology, heart failure, vascular, and structural heart devices for the treatment of cardiovascular diseases; and diabetes care products, as well as neuromodulation devices for the management of chronic pain and movement disorders. Abbott Laboratories was founded in 1888 and is based in North Chicago, Illinois.
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Johnson & Johnson, but specializing in medical devices, diagnostics, and nutrition.
Medtronic for medical devices and diagnostics, plus a major nutrition business.
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Nutritional Products: Science-based nutrition products for infants, children, and adults, including brands like Similac, Ensure, and Pedialyte.
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Diagnostic Products: Systems and tests used for rapid and accurate disease detection, screening, and monitoring, such as the Alinity and ID NOW platforms.
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Medical Devices: A broad portfolio of cardiovascular, neuromodulation, and diabetes care technologies, including FreeStyle Libre continuous glucose monitors, pacemakers, and MitraClip.
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Established Pharmaceuticals: A portfolio of branded generic drugs, primarily marketed in emerging markets, addressing therapeutic areas like gastroenterology, women's health, and respiratory care.
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Abbott Laboratories (ABT) primarily sells its products to other companies and institutions within the healthcare sector, rather than directly to individual consumers. Its extensive portfolio of medical devices, diagnostics, nutritional products, and established pharmaceuticals is distributed through various channels.
Major customer companies for Abbott include large healthcare distributors, which serve as key intermediaries by purchasing products in bulk and then supplying them to a vast network of healthcare providers. While Abbott does not publicly disclose specific individual customer names due to the competitive and fragmented nature of the healthcare market, the following are prominent healthcare distributors that would likely be major customers:
- McKesson Corporation (MCK)
- Cencora (formerly AmerisourceBergen Corporation) (COR)
- Cardinal Health, Inc. (CAH)
Beyond these distributors, Abbott also sells directly to various healthcare entities globally, including large hospital systems, retail pharmacy chains, and laboratory networks.
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Robert B. Ford, Chairman of the Board and Chief Executive Officer
Mr. Ford joined Abbott in 1996, starting his career in the diabetes care business. He has held numerous leadership positions across Abbott's medical device, nutrition, and diabetes care businesses. As Executive Vice President of Medical Devices, he oversaw the integration of St. Jude Medical in 2017, which was Abbott's largest acquisition at the time. He was appointed President and Chief Operating Officer in October 2018 before becoming Chief Executive Officer on March 31, 2020. In December 2021, he was also elected Chairman of the Board. During the COVID-19 pandemic, Mr. Ford led the company's efforts in developing and distributing COVID-19 tests.
Phil Boudreau, Executive Vice President, Finance and Chief Financial Officer
Mr. Boudreau began his career at Abbott in 1997. He has served in various finance and controller roles across Abbott's Diagnostics, Diabetes Care, Nutrition, and Medical Devices businesses. These roles include Divisional Vice President, Controller, Medical Devices from 2017 to 2020, and Vice President, Controller since 2020. He became a corporate officer in 2020. Mr. Boudreau was appointed Executive Vice President, Finance and Chief Financial Officer in July 2024.
Elizabeth Cushman, Executive Vice President, General Counsel and Secretary
Lisa D. Earnhardt, Executive Vice President and Group President, Medical Devices
Joseph Manning, Executive Vice President, Nutritional Products
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The primary clear emerging threat to Abbott Laboratories is the potential for **non-invasive continuous glucose monitoring (CGM) technologies** to disrupt its highly successful FreeStyle Libre product line.
While still in development by various tech giants and startups, these emerging technologies aim to provide glucose readings without the need for skin-piercing sensors, offering greater convenience and potentially lower cost. A breakthrough in this area would fundamentally challenge Abbott's significant market position in diabetes care, similar to how smartphones disrupted feature phones.
Another emerging threat comes from the rise of **personalized nutrition platforms**. These platforms leverage genetic, microbiome, and lifestyle data to offer highly customized dietary advice and supplements. This trend could gradually erode the market share of Abbott's mass-market nutritional products (such as Ensure and Glucerna) by offering solutions perceived as more effective and tailored to individual needs.
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Abbott Laboratories (ABT) operates in several key healthcare markets globally. The addressable markets for its main products and services are sized as follows:
Medical Devices
- Overall Medical Devices: Abbott's medical devices segment generated $19 billion in sales for 2024, representing 45% of the company's total revenue.
- Diabetes Care Devices: The global diabetes care devices market was estimated at USD 65.74 billion in 2025 and is expected to reach USD 91.95 billion by 2030. Another source valued the global market at USD 53.5 billion in 2024, projected to grow to USD 167.5 billion by 2034.
- Cardiovascular Devices: The global cardiovascular devices market was estimated at USD 77.71 billion in 2024 and is projected to reach USD 110.39 billion by 2029. Other estimates for 2024 include USD 53.7 billion, USD 57.35 billion, and USD 62.3 billion.
Diagnostics
- Overall Diagnostics: The global diagnostics market is approximated to be worth US$40–45 billion, with point-of-care (POC) diagnostics contributing US$12–13 billion. The global clinical diagnostics market size was estimated at USD 115.51 billion in 2024 and is anticipated to reach USD 169.23 billion by 2030. Another source estimates the clinical diagnostics market to reach USD 88.79 billion in 2025 and USD 115.94 billion by 2030.
- Molecular Diagnostics: The global molecular diagnostics market was valued at USD 27 billion in 2024 and is projected to grow to USD 40.4 billion by 2034.
- Immunoassay: The global immunoassay market is projected to reach USD 47.7 billion by 2030 from USD 35.5 billion in 2025.
Nutritional Products
- Overall Nutritional Products: Abbott's nutritional products accounted for 22% of its 2024 revenues.
- Pediatric Nutrition: The global pediatric nutrition market was valued at USD 94.8 billion in 2024 and is expected to reach USD 182.4 billion by 2034. Other estimates for 2024 include USD 3.9 billion, projected to reach USD 5.3 billion by 2034, and USD 4.49 billion in 2025, expected to reach USD 6.93 billion by 2032.
- Adult Clinical Nutrition: The global adult clinical nutrition market size was estimated at USD 21.56 billion in 2024 and is predicted to increase to approximately USD 34.82 billion by 2034. The adult segment dominated the overall clinical nutrition market in 2024 with a 73.7% share.
Established Pharmaceutical Products (outside the U.S.)
- Branded Generics: Abbott's Established Pharmaceuticals Division (EPD) focuses on branded generic pharmaceuticals sold outside the United States. The global branded generics market size was estimated at USD 263.08 billion in 2024 and is projected to reach USD 431.43 billion by 2033. Other estimates for the global branded generics market include USD 368.52 billion in 2024, expected to reach USD 683.63 billion by 2032, and USD 261.41 billion in 2024, expected to reach USD 375.90 billion by 2030.
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Abbott Laboratories (ABT) is expected to drive future revenue growth over the next 2-3 years through several key strategies and market dynamics:
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Innovation and New Product Launches in Medical Devices: A primary driver of growth is expected to come from Abbott's robust pipeline and recent innovations in its Medical Devices segment, particularly in Diabetes Care and Electrophysiology. The continued success and expansion of products like the FreeStyle Libre continuous glucose monitoring system and the anticipated launch and rollout of electrophysiology devices such as the Volt PFA system are significant contributors. Abbott announced more than 15 new growth opportunities from its R&D pipeline in 2024, indicating a sustained focus on product innovation.
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Strong Performance and Expansion in Adult Nutrition: The Adult Nutrition business, led by market-leading brands such as Ensure and Glucerna, consistently delivers solid growth. This segment benefits from favorable demographic trends and increasing focus on protein intake and immune system health.
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Growth in Established Pharmaceutical Products (EPD) and Biosimilars: Abbott's Established Pharmaceutical Products (EPD) segment is experiencing high single-digit growth, particularly in key international markets. The company also highlights biosimilars launches as a key strategic growth pillar, which are expected to contribute to future revenue.
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Strategic International and Emerging Market Expansion: Abbott's global diversified business model, with approximately 60% of sales generated outside the United States, positions it well for growth in international markets. Expansion efforts and increasing healthcare access in key emerging markets like India, China, Latin America, and the Middle East are expected to fuel robust growth across various segments.
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Share Repurchases
- Abbott's board of directors authorized a new share repurchase program of up to $7 billion in October 2024.
- In December 2021, the board authorized a share repurchase program of up to $5 billion, which was in addition to the unused portion of a $3 billion program authorized in October 2019.
- The company's annual share buybacks were $1.295 billion in 2024, $1.227 billion in 2023, and $3.795 billion in 2022.
Outbound Investments
- On April 27, 2023, Abbott acquired Cardiovascular Systems, Inc. (CSI) for $851 million to enhance its portfolio of vascular device offerings.
- On September 22, 2023, Abbott completed the acquisition of Bigfoot Biomedical, Inc. to further its efforts in developing connected solutions for diabetes management.
- In September 2021, Abbott acquired Walk Vascular, a company specializing in thrombectomy systems for treating blood clots.
Capital Expenditures
- Abbott's capital expenditures were approximately $2.207 billion in 2024, $2.202 billion in 2023, and $1.777 billion in 2022.
- These expenditures were primarily focused on upgrading and expanding manufacturing and research and development facilities and equipment, investing in information technology, and placing laboratory instruments with customers.
- Expected capital expenditures for 2025 are projected to be around $2.372 billion.
