Home » The 10 largest medical device companies in the world
Medtronic and Johnson & Johnson remain the world’s largest medical device companies. But after that, the roster is radically shifting amid a slew of mergers and acquisitions.
In some cases such as GE, Philips and Siemens, major multinationals are breaking apart.
We’ve sifted through data from public companies’ annual reports and other publicly disclosed information, with attempts to contact companies for additional information — all to create our annual Big 100 list of the world’s major medtechcompanies. Earlier this week,we counted down Nos. 20–11. Today, it’s the top 10.
Read on to find out important information about medtech’s largest companies.
Download the full Big 100 list here.
And you can also pick up a free hard copy of the Big 100 issue at DeviceTalks Boston on Oct. 8–10!
The Big 100 is a team effort by almost our entire medical content team staff. Assistant editor Danielle Kirsh, executive editor Brad Perriello, senior editor Nancy Crotti, managing editor Chris Newmarker, associate editor Fink Densford and associate editor Sarah Faulkner contributed to this report.
About Chris Newmarker
Chris Newmarker is the executive editor of WTWH Media life science's news websites and publications including MassDevice, Medical Design & Outsourcing and more. A professional journalist of 18 years, he is a veteran of UBM (now Informa) and The Associated Press whose career has taken him from Ohio to Virginia, New Jersey and, most recently, Minnesota. He’s covered a wide variety of subjects, but his focus over the past decade has been business and technology. He holds bachelor’s degrees in journalism and political science from Ohio State University. Connect with him on LinkedIn or email at cnewmarker@wtwhmedia.com.
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| 2023 Ranking | Company | Revenue |
|---|
| 1 | Medtronic plc | $31.56B |
| 2 | Abbott Laboratories | $31.27B |
| 3 | Danaher Corporation | $29.57B |
| 4 | Johnson & Johnson | $27.40B |
36 more rowsMedtronic's brand is ranked #546 in the list of Global Top 1000 Brands, as rated by customers of Medtronic. Their current market cap is $152.54B. Stryker's brand is ranked #- in the list of Global Top 1000 Brands, as rated by customers of Stryker. Their current market cap is $91.43B.
How many medical device companies are there? ›
Medical technology innovators are committed to providing physicians and other health care providers with the best tools to diagnose and treat patients. This commitment drives over 6,500 medtech companies in the U.S., which are mostly small- and medium-sized enterprises, to create medical miracles every day.
Who is the No 1 medical device company in the world? ›
The 2023 MPO Top 30 Medical Device Companies Report
With $31.27 billion in revenue, Abbott Labs now leads the largest medical device makers in the world. The Illinois-based company overtook previous leader Medtronic by a mere $40 million.
Who is Medtronic's biggest competitor? ›
Here is an in-depth analysis of Medtronic's top competitors and alternatives:
- Abbott Laboratories.
- Stryker Corporation.
- Boston Scientific Corporation.
- Johnson and Johnson (J&J)
- Fresenius Medical Care.
- Philips Healthcare.
- GE Healthcare.
- Siemens Healthineers.
MRI machines, which typically cost between $1 million and $3 million, are frequently the most expensive pieces of equipment in a hospital. They're large, heavy, and complex, built with three layers of magnets to image and liquid helium to cool the machines down.
Which country is the largest producer of medical equipment? ›
The United States is the top exporter of medical equipment with a total value of $30.2 billion in 2022. Discover the leading medical equipment exports in 2022 for seamless healthcare solutions worldwide. Explore the top 5 exporters ensuring quality, innovation, and reliability in medical equipment export.
Which country has the best medical equipment in the world? ›
The answer to the question, “what country leads the world in medical innovation?” is the United States. Medical industry professionals all over the world would have to agree that the top medical technology currently being used around the world has ties to the U.S.
Who is Stryker's biggest competitor? ›
Stryker main competitors are Gilead Sciences, Amgen, and Merck.
Is Abbott bigger than Medtronic? ›
Abbott's brand is ranked #168 in the list of Global Top 1000 Brands, as rated by customers of Abbott. Their current market cap is $210.71B. Medtronic's brand is ranked #546 in the list of Global Top 1000 Brands, as rated by customers of Medtronic. Their current market cap is $152.54B.
Medtronic's operating margin of 19.6% over the last twelve-month period is better than 15.1% for Stryker. This compares with 25.2% and 18.2% figures seen in 2019, before the pandemic, respectively. Medtronic's free cash flow margin of 22.1% is slightly better than 19.1% for Stryker.
Which state has the most medical device companies? ›
California is home to more medical device companies than any other U.S. state, with a dense network of high-tech firms and a talented workforce.
What is Medtronic famous for? ›
Medtronic is a global producer of medical devices and therapies, such as insulin pumps, pacemakers, and diabetes therapies. Perhaps best known for its revolutionary cardiac devices, such as battery-powered and miniature pacemakers, it also has introduced cutting-edge products into the industry.
What is the most used medical equipment in hospitals? ›
We'll cover key pieces of equipment every hospital needs for day-to-day operations.
- Patient Monitors.
- Ventilators.
- Sterilizers.
- X-Ray Machines.
- EKG/ECG Machines.
- Ultrasounds.
- Electrosurgical Units.
- Conclusion.
UnitedHealthcare is the strongest healthcare brand in the ranking with a Brand Strength Index (BSI) score of 77.4 out of 100 and a brand rating of AA+.
What is the best medical device company to work for? ›
Which Medical Device Company Is the Best to Work For?
- Stryker. At the beginning of March, Fortune again named Stryker as one of the 100 Best Companies to Work For in its 19th annual survey of U.S. employers. ...
- Johnson & Johnson. ...
- Medtronic. ...
- Abbott Laboratories. ...
- GE Healthcare. ...
- Arthrex. ...
- W.L. Gore & Associates. ...
- St.
The answer to the question, “what country leads the world in medical innovation?” is the United States. Medical industry professionals all over the world would have to agree that the top medical technology currently being used around the world has ties to the U.S.
Medtronic and Johnson & Johnson remain the world’s largest medical device companies. But after that, the roster is radically shifting amid a slew of mergers and acquisitions.
