Top 10 Healthcare Equipment Companies – The medical device industry is an important and rapidly growing branch of the life sciences industry. Medical device companies manufacture a wide range of products such as diagnostic, surgical instruments and cardiac devices that are widely used in hospitals and other healthcare facilities. Recently, many medical device companies have made technological progress and grown rapidly. Despite strict regulation and financial pressure on the industry, the market continues to grow worldwide. The industry is now valued at $389 billion and according to Kalorama Information; the global medical equipment market will reach $483.8 billion in 2022.
Medtronic is a global leader in medical technology, services and solutions. With total revenue of $29.7 billion in 2017, Medtronic is the best-selling medical device company. Medtronic’s medical equipment is classified into the following groups: Cardiovascular ($10,498 million, 3%); Minimally invasive therapy ($9,919 million, 4%) and diabetes ($1,927 million, 3%).
Top 10 Healthcare Equipment Companies
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DePuy Synthes is a subsidiary of Johnson & Johnson. DePuy Synthes manufactures various medical devices. Its revenue in 2017 was $26.6 billion, which is 5.9% more than in 2016. The main market drivers are surgery ($9,559 million, 2.8%), orthopedics ($9,258 million, -0.8%) and vision care ($4,063 million, 45.9%).
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Fresenius Medical Care is the world’s largest manufacturer of medical devices for the treatment of chronic kidney disease. The company provides dialysis products and services and serves the needs of more than 320,000 patients worldwide. With total revenue of USD 20.9 billion (EUR 17.8 billion), the company has established itself as a leader in the global dialysis market. Fresenius reported a 7% increase in sales in 2017, which was mainly offset by higher sales of dialyzers and other dialysis products. and the acquisition of Cura Day Hospitals in April 2017, expanding the network to approximately 40 outpatient facilities in Australia.
Philips Healthcare is the healthcare subsidiary of Philips, a multinational conglomerate. The company’s sales rose to €17.8 billion, up 2% in nominal terms, reflecting nominal growth of 3% in Personal Health (€7,310 million, 3%) and Diagnostics, Treatment (6,891 million euros, 3%) and an even year. Annual sales in Connected care & Health Informatics (3,163 million euros, 0%).
This subsidiary of General Electric’s medical company performed strongly in 2017 and secured its position as the 5th largest manufacturer of medical devices. Its revenue rose to $20.4 billion, up 6% from the previous year. The increase in revenue was driven by higher sales in the US and Europe, as well as in emerging markets such as China and the Middle East.
Siemens healthineers is one of the largest providers of medical technology in the world. They focus on medical technology and software solutions. As of the end of 2017, Siemens Healthineers reported revenue of €14.2 billion, a moderate increase of 2%, largely offset by expanded growth in Latin America and Asia, Australia and further stabilization in China.
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Cardinal Health is an integrated multinational healthcare company that supplies pharmaceuticals, medical, surgical and laboratory products to healthcare facilities. Cardinal Health has two primary business segments: Pharmaceutical, which distributes branded and generic pharmaceuticals, specialty pharmaceuticals, over-the-counter medical and consumer products, and Medical Segments, which distributes Cardinal Health’s branded medical, surgical and laboratory products in the United States. of the state In 2017, sales of the medical segment increased by 9% to 13.5 billion dollars.
Stryker is an American medical device company specializing in orthopedics, medicine and surgery (MedSurg), as well as neurotechnology and spine. The company performed strongly, reaching a major milestone of surpassing US$12 billion in sales. Total revenue in 2017 was $12.4 billion, a balanced growth of 9.9%.
The headquarters is located in New Jersey, USA. Business activities include the development, manufacture and sale of a wide range of medical supplies, devices, laboratory equipment and diagnostic products used by healthcare facilities, life science researchers, clinical laboratories, the pharmaceutical industry and the public. In 2017, BD reported a 3.1% decrease in revenue ($12.1 billion) compared to the previous year. Sales were adversely affected by the divestment of the respiratory solutions business.
Baxter is an American company with a total revenue of $10.6 billion in 2017. Baxter has a wide range of healthcare products. Its wide range of products includes, but is not limited to, acute and chronic dialysis treatments; sterile intravenous (IV) solutions; infusion systems and devices; parenteral nutrition; inhalation anesthetics; generic injectable drugs; and surgical hemostats and sealants. Baxter’s 2017 global net sales were $10.6 billion, a 4% increase over 2016 on a reported and constant currency basis.
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Luca Dezzani is an employee of Novartis. All views, analysis and viewpoints are completely independent and belong solely to the author. They do not represent the views or opinions of Novartis or any other company or organization. IgeaHub is a pharmaceutical blog created and curated by Luca Dezzani. IgeaHub does not receive funding or support from Novartis or any other pharmaceutical company. It is seeking a Senior Statistical Programmer for a leading biopharmaceutical company located in Boston, Massachusetts, New Haven, Connecticut, or Wilmington, Delaware.
The global medical device market reached nearly USD 488.98 billion in 2021 and is likely to reach an impressive USD 718.92 billion by 2029. The ever-increasing prevalence of chronic diseases and the increased emphasis by health care providers on early diagnosis and treatment of diseases is leading to an increase in the number of patients undergoing diagnostic and surgical procedures, which in turn encourages companies to improve, develop and create new innovative medical achievement.
Below, we’ve ranked the top medical device companies by revenue in 2021, looking at only the medical device segment. This list reveals the 10 largest medical device companies in the world in 2022:
With more than 100 years of experience and 44,000 employees in 30 countries, Cardinal Health is widely recognized for providing pharmaceuticals, medical products and services that help healthcare providers. In fiscal year 2022, sales of the company’s medical segment fell 5%, significantly impacted by inflation and supply chain constraints. Sales were further offset by lower demand for PPE compared to the prior year and the divestment of the Cordis business.
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American multinational medical technology specialist Stryker ranks ninth on this year’s list. With 46,000 employees worldwide, Stryker focuses on creating innovative solutions in orthopedics, medical and surgical solutions, neurotechnology and spine care that help improve patient outcomes and hospital outcomes. Until 2020, Stryker had 40 consecutive years of growth, but due to reductions in medical procedures due to the Covid-19 pandemic, the company’s sales fell 3.6% in 2020. However, Stryker returned to growth in 2021 and sales increased. by an impressive 19%, driven by stellar performance for MedSurg and Neurotechnology and for Orthopedics and Spine. In late 2020, Stryker completed the acquisition of Wright Medical, which is now fully integrated into Stryker and positioned the company for future growth.
The main part of the top ten is the world’s leading medical technology and life sciences company, GE Healthcare. With a broad product portfolio, GE Healthcare is widely known for imaging, ultrasound, software and life care solutions. GE Healthcare’s sales fell 2% in 2021 due to the negative impact of supply chain disruptions. In 2021, they acquired two companies; BK Medical and Zionexa, which have great potential in precision health and medicine, which is GE Healthcare’s core business.
With over a hundred years of experience, Philips is a diversified technology company. Philips’ healthcare division provides 42% of global revenue and consists of three key areas: diagnostics and treatment, connected care and personal health.
In 2021, sales of Philips health products and solutions amounted to $19.2 billion (€17.2 billion), down 15% from the previous year ($22.6 billion or €19.1 billion), on which was negatively impacted by unfavorable exchange rates and the poor performance of Connected Health. . Several headwinds affected sales, including supply chain issues, delays in hospital equipment installations related to Covid-19 and the impact of Respironics’ field operations. However, comparable order volume rose 4%, driven by strong growth in the diagnostics and treatment business.
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Announcing the full-year results, CEO Frans van Houten commented: “During 2021, we signed 80 long-term strategic partnership agreements and launched innovations such as the Spectral CT 7500 to support precision diagnostics and expanded our image-guided Azurion. therapeutic platform with breakthrough programs for innovative minimally invasive treatment methods. We also continued to help consumers take better care of their health through our personalized health offerings. Based on good customer demand and our growing order book, we expect to resume our growth trajectory and margin expansion through 2022.” .
The German international medical company Fresenius ranks sixth in the list of the best companies producing medical products. With approximately 123,000 employees in more than 100 countries, Fresenius Medical Care is the world’s largest provider of services and products for patients with kidney disease.
In 2021, the company’s revenue was US$19.4 billion (€17.62 billion), down 8% from the previous year, but a slight increase of 2% in constant currencies, and for 2020 revenues reached 21.0 billion dollars (17.9 billion euros). The cumulative impact of Covid-19 has weighed on the company’s results more than they initially estimated at the start of the year, but Fresenius plans to restore earnings.
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