TOP 30 2016 MEDICAL DEVICE MANUFACTURERS (2024)

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While previously the focus of smaller firms and startups, industry giants like GE Healthcare and Siemens AG are putting forth a vision that more closely reflects those of their less influential peers. The implementation of strategies that involve cloud-based solutions, connectivity, and patient-based software options is a significant step forward in the evolution of 21st-century healthcare.

“The emerging field of health tech marries traditional medtech (e.g., medical devices) with state-of-the-art consumer electronics technology, digital marketing, e-commerce, and social media tools to create an entirely new class of products and solutions. Where traditional medtech catered exclusively to physicians and hospital systems, health tech is more likely to be consumer-facing, bringing new tools and technologies directly to patients. It’s also more focused on preventive care, enabling patients to better manage their health before their physical problems advance to a state that can only be treated via an intervention such as surgery,” Josh Makower, M.D., a general partner with venture capital firm New Enterprise Associates, said in EY’s 2015 Pulse of the Industry report.

The digital health trend is joined by more traditional actions that have been reflected in past Top 30 reports—primarily mergers and acquisitions, company splits into separate entities, and a focus on global markets. All of these strategies comprise an overall effort among medtech firms to become one-stop healthcare solutions for doctors and their patients, while ultimately increasing revenue.

Makower added, “Taken together, the improving landscape for traditional medtech and the fast-growing market for new health tech businesses strongly signal an upswing for the medtech sector overall.”

While perusing this year’s report, be on the lookout for less obvious signs of the gradual transition by leading medtech firms to a greater focus on digital health technology and related solutions.

Editors’ note: As you read our report, please take note that while the companies are ranked according to sales reported for FY 2015 (though we do provide some 2016 figures to date where possible), some may include non-device sales within a division, such as combination products, drug delivery, software, or device-related services. Not all companies explicitly break out the device portion of total revenues. We consulted numerous public documents and contacted company officials as needed to arrive at the best estimates. Also note that foreign currency conversions were done based on the exchange rate at the end of the fiscal reporting period being discussed.