Top 10 Best Largest Medical Device Companies

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In 2020, the medical devices market will continue to grow at a rapid pace, driven by the complicated demands of patients and the Covid-19 epidemic, which will ... read more...

  1. Founded: 1949

    Headquarters: Dublin, Ireland

    Revenue: 30,12 Billion USD

    Website: https://europe.medtronic.com/xd-en/index.html

    Medtronic has reclaimed its position as the world's largest medical equipment manufacturer. Medtronic is at the forefront of medical technology, employing approximately 90,000 people in 150 countries. Although Medtronic's revenue declined 4% in 2020, the results were commensurate with the impact of postponed treatments across the medical device sector as a result of the pandemic. With many recent approvals and delayed product releases, Medtronic's pipeline continues to drive treatment innovation.


    Despite Covid-19, Micra VR and Micra AV, the world's smallest pacemakers for bradyarrhythmia control, were released in the United States and performed successfully. In the future, the firm will continue to invest in innovation in order to maintain its industry-leading pipeline of innovative inventions. They have also completed a number of acquisitions, including Digital Surgery, Medicrea, and Companion Medical, all of which will help them drive future development.

    Photo: axios.com
    Photo: axios.com

  2. Founded: January 1886
    Headquarters: New Brunswick, New Jersey, USA
    Revenue: 19,8 Billion USD

    Website: https://www.jnj.com/


    Following a challenging 2020, Johnson & Johnson reclaims second place in 2021. J&J's medical devices division offers a diverse variety of products for orthopaedics, surgery, interventional treatments, and eye health. The detrimental impact of the Covid-19 outbreak and the resulting delays in medical operations to their surgery, orthopaedics, and vision divisions drove a 12 percent drop in medical equipment globally. Growth in the interventional solutions segment, spearheaded by electrophysiology devices, somewhat offset the drop. "We remain incredibly excited about the great potential of the end-to-end digital surgery ecosystem," Alex Gorsky, Chairman and Chief Executive Officer, said in a press release. "We are simultaneously developing three differentiated robotic programs and recently achieved a significant milestone with the FDA clearance for our Velys Robotic-Assisted Solution designed for use with the Attune Total Knee System." Our industry is only now beginning to realize the full potential and advantages of robotic and digital technology, and it seems only natural that the same business that pioneered sterile surgery 135 years ago is now positioned to lead the way."


    Photo: https://www.businesswire.com/
    Photo: https://www.businesswire.com/
  3. Top 3

    Abbott

    Founded: 1888

    Headquarters: Chicago, Illinois

    Revenue: 34,61 Billion USD

    Website: https://www.abbott.com/


    Abbott, an American multinational, is one of the top three medical device businesses this year. Abbott, based in Illinois, has been providing medical products and healthcare solutions to more than 160 nations since its founding more than 130 years ago. The corporation, which employs 107,000 people globally, is recognized for developing ground-breaking technologies in diagnostics, medical equipment, nutrition, and branded generic medications. Abbott's medical equipment and diagnostics divisions performed well, increasing by 13% year over year. Abbott was instrumental in combating the early stages of the Covid-19 outbreak by developing diagnostic tests and distributing them globally. Other areas of the company thrived outside of Covid-19, with the release of a slew of new medical devices, including the next-generation MitraClip repair device and the Tendyne device, which replaces the entire valve for patients who cannot be repaired, as well as the FreeStyle Libre 3 system, the thinnest and most discreet glucose sensor ever. Abbott intends to address not just the medical issue that their products address, but also the issue of availability and cost in the future.

    Photo: medicaldialogues.in
    Photo: medicaldialogues.in
  4. Founded: 1891

    Headquarters: Amsterdam, Netherland

    Revenue: 19,5 Billion EUR

    Website: https://www.philips.com/global


    Philips is a diverse technological corporation with almost a century of experience. Diagnosis & Treatment, Connected Care, and Personal Health make up Philips' healthcare segment, which accounts for 42 percent of the company's global sales. Philips' health goods and solutions grew by 6% year over year in 2020, with revenues reaching $22.6 billion (€19.1 billion), helped by a more favorable foreign exchange rate. This was attributed to a better performance in the second half of the year, following a difficult first half due to Covid-19's influence. Sales of diagnostic imaging and image-guided treatments and ultrasounds fell somewhat in diagnosis and treatment, with diagnostic imaging showing modest growth and image-guided therapies and ultrasounds showing a fall. Covid-19-driven demand fueled substantial growth in connected care, with high results in monitoring & analytics and sleep & respiratory care. "The developments of the past year validate our strategy to innovate the provision of care along the health continuum – putting the patient at the center, improving diagnosis and treatment pathways, enabling the integration of care across care settings, and increasing care provider productivity," CEO Frans van Houten wrote in a letter to shareholders. Simultaneously, we assist clients in leading healthy lifestyles and coping with chronic disease. Telehealth technologies are increasingly allowing us to integrate home and hospital treatment. This strategy is resonating louder than ever."

    Photo: philipsvietnam.net
    Photo: philipsvietnam.net
  5. Founded: 1996

    Headquarters: Bad Homburg vor der Hohe, Germany

    Revenue: 13,225 Billion USD

    Website: https://fmcna.com/


    Fresenius Medical Care, a German-based worldwide healthcare firm, is placed sixth among the major medical equipment manufacturers. With over 300,000 employees in over 100 countries, Fresenius Medical Care is the world's biggest provider of services and products for patients with kidney disease. This commitment begins with delivering the best complete treatment for patients with chronic renal disease and continues with cutting-edge solutions that are transforming healthcare and establishing industry benchmarks. Vertically integrated networks provide world-class research and data-driven insights, as well as designing home dialysis and patient education initiatives to improve patient care. Its staff is always seeking for innovative methods to enhance the quality of life of their patients. They think that everyone of us can make a difference, and that by working together, we can transform an industry. It's a team effort going ahead.


    In 2020, Fresenius Medical Care's revenue will increase by 2%, to $21.0 billion (17.9 billion euros). Despite the pandemic's obstacles, Fresenius Medical Care has been able to provide home dialysis treatments to more patients. For 2020, the business unveiled its 2025 plan, which focuses on three major areas: renal care continuity, critical care solutions and complementary assets, and holding products and services. Their health is the most important thing to them.

    Photo: freseniusmedicalcare.com
    Photo: freseniusmedicalcare.com
  6. Founded: September 28, 1994

    Headquarters: Chicago, Illinois, USA
    Revenue: 19,78 Billion USD

    Website: https://www.gehealthcare.com/

    GE Healthcare, a renowned worldwide medical technology and life sciences firm, is a constant in the top ten. GE Healthcare is well-known for its imaging, ultrasound, software, and life care solutions, and it has a diverse product range. Due to the disposal of BioPharma, now known as Cytiva, which makes medical equipment to serve the biotech industry, sales declined by 10% in 2020. Life care solutions, on the other hand, outperformed the competition by quadrupling the production capacity of the Carescape R860 ventilator and increasing the manufacture capacity of other technologies utilized in the diagnosis and treatment of Covid-19. "Healthcare expanded sales organically and generated good margin and cash performance in 2020," CEO H. Lawrence Culp Jr. wrote in his annual letter to shareholders. We invested for the future throughout it all, introducing over 40 new products and acquired Prismatic Sensors, a company that specializes in photon-counting CT technology. Healthcare continues to place a premium on cutting-edge imaging technology, with digital at the forefront."

    photo: bernard.vn
    photo: bernard.vn
  7. Founded: 1897

    Headquarters: Franklin Lakes, New Jersey, USA
    Revenue: 17,12 Billion USD

    Website: https://www.bd.com/en-uk

    Becton Dickinson & Firm, or BD, is a global medical technology company based in the United States that makes and distributes medical devices, instrument systems, and reagents. BD's revenue declined slightly (-1%), to $17.1 billion, due to the negative effects of the Covid-19 epidemic, which resulted in substantial disruptions to healthcare services. In addition, the corporation had to make a significant investment to cover the expense of repairing its faulty Alaris infusion pumps. The firm, however, rebounded to growth in Q4 because of BD life sciences' remarkable achievement in creating novel Covid-19 testing through its integrated diagnostic solutions division. BD plans to expand in the future by establishing a strong portfolio of innovations that address unmet clinical requirements, developing solutions for both acute and nonacute settings, and bringing to market products that satisfy patients' needs at home, in the hospital, or wherever they are.

    Photo: bd.com
    Photo: bd.com
  8. Founded: May 1, 2015

    Headquarters: Erlangen, Germany

    Revenue: 14,46 Billion EUR (2020)

    Website: https://www.siemens-healthineers.com/


    Siemens Healthineers helps healthcare organizations across the world add value by allowing them to enhance precision medicine, alter care delivery, improve patient experience, and digitalize healthcare. Siemens Healthineers, a global pioneer in medical technology, is continually developing new products and services in its key areas of diagnostic and therapeutic imaging, laboratory diagnostics, and molecular medicine. Siemens Healthineers is also expanding its digital health and enterprise services offerings.


    On the list of top medical equipment firms, Siemens Healthineers is still ranked eighth. Siemens Healthineers is the medical technology division of the Siemens company, which is headquartered in Germany. The company's revenue fell somewhat, with sales down 3% to $17.0 billion (€14.5 billion). This was attributed to a drop in diagnostics, as a result of fewer routine testing sessions owing to societal limitations imposed to control the spread of Covid-19. In the imaging and advanced therapy areas, there was minor growth on a similar basis. Because CT scans were increasingly crucial for treating Covid-19 positive patients, computed tomography (CT) saw a lot of increase in imaging. Moving forward, the firm continues to make progress with its digital transformation and remains dedicated to assisting healthcare professionals in their efforts to extend precision medicine, revolutionize care delivery, and improve patient experience by empowering them.

    Photo: siemens-healthineers.com
    Photo: siemens-healthineers.com
  9. Founded: 1971
    Headquaters: Dublin, Ohio, USA
    Revenue: 162,5 Billion USD (2017)
    Website: https://www.cardinalhealth.com/en.html


    They serve as a vital link between the clinical and operational sides of healthcare, providing end-to-end solutions and data-driven insights that help to develop healthcare and enhance people's lives on a daily basis. They create links across the continuum of care via strong collaborations, different viewpoints, and new digital solutions. They grasp the chance to handle healthcare's most complex difficulties - today and in the future – with more than 50 years of expertise.


    Cardinal Health is well-known for supplying medications, medical goods, and services to healthcare practitioners, with over 100 years of expertise and 50,000 workers. Cardinal Health's medical sector expanded by 8% in fiscal year 2021, owing to the beneficial impact of PPE sales In 2022, the business predicts stable growth, assuming that elective treatments revert to pre-covid levels.

    Outside of Covid-19, the firm recently announced the sale of its Cordis business, and it is dedicated to focusing on its targeted portfolio and investing in technology innovations to enhance patient outcomes moving ahead well as greater volume sales in the lab division due to demand from the Covid-19 epidemic

    Photo: healthcarefinancenews.com
    Photo: healthcarefinancenews.com
  10. Founded: February 20, 1941

    Headquarters: Kalamazoo, Michigan, USA

    Revenue: 1.03 Billion USD (2017)

    Website: https://www.stryker.com/us/en/index.html


    Stryker is an American multinational medical technology company. Stryker, which employs 43,000 people globally, focuses on developing breakthrough orthopaedic, medical and surgical solutions, neurotechnology, and spinal care products that benefit patients' conditions and hospital results.


    Stryker bought Wright Medical Group, a medical device business specializing in extremities and biologics, in late 2020. In the future, the purchase has significantly strengthened the company's position in trauma and extremities, presenting considerable prospects to promote innovation and serve a larger number of patients.

    Photo: flamboroughreview.com
    Photo: flamboroughreview.com

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