Top 10 Surgical and Medical Devices Companies Worldwide
The surgical and medical devices industry is constantly upsurging, owing to the progressive technological advancements in medical science. Surgical and medical devices companies throughout the world are striving hard to develop, innovative and novel healthcare solutions to tackle many prevailing diseases worldwide and also towards disability and injury protection.
The ten leading surgical and medical devices companies of the world are:
Medtronic is the leading surgical and medical device company globally had meteoric revenue growth in the last couple of years. This surgical and medical devices giant operates in 140 nations with staffs more than 100,000 employees who work across the company’s principal units such as diabetes, cardiovascular, neuromodulation, surgery, spinal and biologics and cardiac rhythm diseases. In 2016, much of the growth of Medtronic was due to the successful strategic acquisition of Covidien.
2. Johnson & Johnson (J&J)
American consumer goods, biopharmaceutical and medical devices company Johnson & Johnson is a well-known brand globally for many decades now. J&J has a number of surgical and medical device subsidiaries – DePuy Synthes, Acclarent and Ethicon. J&J develops and manufactures products in many different therapy areas like cardiovascular, orthopedic, vision care, diabetes and surgery. The company intends to drive its growth further in the coming years through more innovation, expansions in emerging markets and better portfolio management.
3. GE Healthcare
GE Healthcare, the healthcare segment of the global multinational conglomerate General Electric produces many surgical and medical devices like ultrasound machines, x-rays, CT imagers and incubators. The company also manufactures devices that aid in biopharmaceutical manufacturing, drug innovation and research. The company has been experiencing healthy margins over the last few years and plans to expand further in emerging markets. GE Healthcare has also recently committed $300million under their Sustainable Healthcare Solutions initiative with the aim of bringing ‘disruptive technologies’ in emerging markets where healthcare is not easily accessible.
Fresenius, a German company, specializes mainly in developing supplies for treating renal diseases. There was a strong growth last year due to increase in dialyzer sales and the positive volume and price effects. Fresenius substantially increased its workforce in 2016 (by about 5%). The company intends to garner its yearly revenues to $28 billion by 2020.
5. Philips (Healthcare)
Philips (Healthcare) known as the largest producer of lights globally. The company has diversified into many segments including healthcare. The healthcare segment of the company is also greatly developing surgical and medical devices in areas like cardiology, oncology and anesthesia. Philips has experienced a steady sales growth over the last few years due to 2015 integration of Volcano and the 2016 acquisition of Belfast based PathXL.
6. Siemens (Healthineers)
The healthcare segment of Siemens, Siemens Healthineers, is an innovative healthcare company which has a diverse portfolio of laboratory diagnostics & medical imaging devices. The company is presently working using its engineering & scientific expertise for expanding into molecular and therapeutic diagnostics and digital services. Following its 2020 vision, Healthineers enjoyed consistent growth over the last few years and is now looking to ride on this surge in the coming years mainly in the US and China markets.
7. Becton Dickinson
American based Becton Dickinson develops laboratory instruments, diagnostic products and medical devices, which are supplied to clinics, laboratories and hospitals in 190 countries. The company reported an impressive 21% revenue rise in 2016 from 2015, due to the juxtaposition of a diverse portfolio, strong sales and a JV with UK based Apax Partners. Becton is now developing innovative medical technologies and is actively looking to penetrate in emerging markets.
8. Cardinal Health
Cardinal Health is an American healthcare company that supplies medical and pharmaceutical products to hospitals worldwide. There was a substantial 19% increase in the total revenue of the company compared to 2015, much of which was due to sales from its existing product portfolio and some strategic acquisitions; prominent amongst which were naviHealth and Cordis. Cardinal Health garnered revenue of $12.4bn in 2016
Stryker has evolved quite a bit during its 60-year long history, from starting with a focus on developing orthopedic devices to expand into various sectors like surgical and medical devices (MedSurg), and spine and neurotechnology. The sales of the company increased by 13.9% in 2016, fairly balanced across all its operating sectors. Many strategic acquisitions were responsible for this, notable among which were the ones of Sage Products, Physio-Control and Stanmore Implants Worldwide. The company revenue in the year 2016 was $10.9 bn.
11. Baxter International
Baxter International is a US-based company, widely known as medical devices manufacturer, specializing in developing solutions for haemophilia, renal diseases & immune disorders. Baxter saw an increase of 2% in global sales from 2015, following about 20 new product launch and global expansion. Amongst the most prominent product launches in 2016 were the Hemopatch (an advanced surgical patch) and the generic vaccine Vancomycin. In 2017, Baxter acquired Claris Injectables Ltd, which further expanded its generic vaccine production.