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In 2021, the global medical device market reached nearly US$ 488.98bn and is likely to reach US$ 718.92bn by 2029. The increasing risk of chronic diseases and the emphasis by doctors to diagnose and treat diseases earlier is leading to more patients undergoing diagnostic and surgical procedures, which in turn encourages companies to improve repair, develop and develop new medical treatments.
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Below, we have ranked the leading medical companies by their revenue in 2021, looking at their medical devices segment only. This list shows the 10 largest healthcare companies in the world in 2022:
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With more than 100 years of experience and 44,000 employees across 30 countries, Cardinal Health is widely recognized for providing medicines, medical equipment and services that help doctors. In 2022, the company’s medical sales fell by 5%, greatly affected by inflation and limited supply. Sales benefited further from lower demand for PPE compared to the previous year and the decision of the Cordis business.
American multinational medical technology specialist, Stryker, takes ninth place on this year’s list. With 46,000 employees worldwide, Stryker focuses on creating innovative solutions in orthopaedics, medical and surgical solutions, neurotechnology and spine care that help improve patient outcomes. status and hospital outcomes. Until 2020, Stryker experienced 40 straight years of growth, but with the reduction in medical procedures due to the Covid-19 pandemic, the company’s sales fell 3.6% in 2020 However, in 2021, Stryker returned to growth with increased sales. by an impressive 19%, thanks to the performance for MedSurg and Neurotechnology and for Orthopedics and Spine. In 2020, Stryker completed the acquisition of Wright Medical, which is now fully integrated into Stryker and has positioned the company well for future growth.
A key to the top 10 is the first global medical and life sciences company, GE Healthcare. With a wide range of products, GE Healthcare is widely recognized for its imaging, ultrasound, software and lifestyle solutions. In 2021, GE Healthcare sales fell by 2% with the negative impact of product disruptions. In 2021, they acquired two companies; BK Medical and Zionexa, both of which have strong capabilities in healthcare and pharmaceuticals, are important to GE Healthcare.
With more than a century in business, Philips is a diverse technology company. Philips’ healthcare makes up 42% of their global revenue and is made up of three core areas: Diagnostics & Treatments, Connected Health, and Nutrition Personal Health.
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In 2021, Philips health products and solutions sold a total of $19.2bn (€17.2), a decrease of 15% compared to the previous year ($22.6bn or €19.1bn), negative impact from poor exchange and weak labor to Health. . Sales were impacted by several headwinds, including supply chain challenges, delays in the installation of hospital equipment related to Covid-19, and the impact of Respironics sales hand made However, comparable profits increased by 4%, driven by solid growth in Business & Healthcare.
At the announcement of last year’s results, CEO, Frans van Houten said, “In 2021, we have signed 80 long-term business partnerships and developed innovations such as Spectral CT 7500 to support accurate diagnosis, as well as expand our Azurion image-guided. treatment platform with the use of collision to develop small treatment. We also continue to help people consumers take better care of their health with our personal health services. Based on customer demand and our order book to grow, we hope to resume again our growth and expansion on the way of 2022. ” .
The German global healthcare company, Fresenius, took sixth place in the list of top healthcare companies. With around 123,000 employees in more than 100 countries, Fresenius Medical Care is the world’s largest provider of services and products for kidney patients.
In 2021, the company generated revenues of $19.4bn (€17.62bn) which is a loss of 8% over the previous year, but a slight increase of 2% in constant profits, with 2020 revenues reached $21.0bn (€17.9bn). The severe effects of Covid-19 affected the company’s profits more than they had predicted at the beginning of the year, but Fresenius plans to get the income back in 2022. Their Strategy 2025 prioritizes making their products and health services at the core and focusing on three key areas: continuous kidney care, key solutions and added value.
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Headquartered in Germany, Siemens Healthineers is the medical technology branch of automation and electronics conglomerate Siemens. The company generated sales of $ 20.2 (€ 18.0bn) in 2021, an increase of 19% compared to the previous year, which was affected by the Covid-19 epidemic, but slipped to fifth on the list of the top medical companies. In 2021, Seimens Healthineers received a joint venture, created new innovations and promoted sustainability. Moving forward, the company continues with their digital transformation and is committed to supporting doctors by supporting them on their journey to expanding medicine, reforming technology treatment, and improving the patient experience.
Commonly referred to as BD, Beckton Dickinson & Company is an American multinational medical technology company that manufactures and sells medical devices, measuring systems, and reagents. After a decline in growth last year due to the negative impact of the Covid-19 pandemic, BD turned everything around in 2021, with sales increasing by 18%. This performance was mainly driven by increased investment in higher growth areas, and growing M&A activity. BD continues to drive business growth by launching several new products including the FACSymphony A1 Cell Analyzer, the COR System, which is the most advanced molecular diagnostic platform , Veritor home Covid-19 test, and Rotarex Rotational Excisional Atherectomy System.
In their full year event call, Tom Polen, president, CEO and president of BD said, “With the increase in our business base and the way to accelerate the money Back in fiscal 2022 and beyond, we are well on our way to delivering on our commitment and driving long-term growth and benefits for all involved.”
Johnson & Johnson is in third place in 2022. J&J’s medical equipment segment, recently renamed to MedTech, includes a variety of orthopedic, surgical, surgical, and surgical products. eye treatment. In 2021, Medical Equipment global sales increased by 18%, driven by the market recovery from the Covid-19 impact and the disruption of medical procedures. In recent years, J&J has poured a lot of effort into reshaping its medtech space through construction, rebranding, divestitures, mergers and acquisitions (M&A). In a recent earnings call, Joaquin Duato, Chief Executive Officer of Johnson & Johnson said, “Over the past few years, this momentum has been driven by the delivery different solutions with business development. We expect this development to continue, opened by our new pipeline with the potential for expansion into the bigger business”.
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American multinational, Abbott, secured the second place among the top medical companies this year. Founded over 130 years ago, Abbott is headquartered in Illinois and delivers medical devices and treatments to more than 160 countries. With 113,000 employees worldwide, the company is well-known for manufacturing products in the fields of diagnostics, medical devices, food, and pharmaceuticals. In 2021, Abbott’s medical devices and diagnostics division grew by an impressive 32.7% year over year. Diagnoses increased by 42.7% driven by Covid-19 tests. Abbott continues to strengthen its medical products with several advancements in 2021, including: US launch of first-of-its-kind technology NeuroSphere Virtual Clinic, expanded reimbursement of MitraClip device, FDA approval of Amplatzer Amulet Left Atrial Appendage Occluder for treating stroke patients, and FDA approval of Portico with FlexNav, transcatheter aortic valve replacement (TAVR). Looking to the future, Abbott plans to solve not only the medical challenges that their products use but at the same time the challenges of access and affordability.
Medtronic once again tops the list as the largest medical company in the world. With over 90,000 employees, working in 150 countries, Medtronic is at the forefront of medical technology. In the fiscal year of 2022, Medtronic reported a revenue of US$31.7bn, an increase of 8% from the US$29.4bn reported last year. Growth was driven by strong performance from three key clinical areas: Cardiovascular (+6%), Therapeutics (+4.6%) and Neuroscience (+7%). Growth was offset by the diabetes division, which fell by 3.1%, as US revenue fell due to a lack of new product approvals.
As part of its information management strategy, in May 2022, Medtronic announced that together with DaVita it will create a new kidney treatment company. Medtronic has confirmed that it will contribute its Renal Care Services (RCS) business to a new company, which is focused on the development of innovative renal products and solutions. problem.
According to the release of their 2022 results, Geoff Martha,
