Medical devices industry is a crucial and fast growing arm of the life sciences industry. Medical devices companies produce a wide array of products such as diagnostics, surgical instruments, wheelchairs and cardiac devices which are used extensively in hospitals and other healthcare facilities. In recent times, many medical devices companies have made technological advancements and grown exponentially. Despite the heavy regulation and financial pressures on the industry, the market keeps increasing worldwide. The industry is currently valued at $389billion and according to Kalorama Information; the global medical device market will reach $483.8billion in 2022.
Medtronic is a global leader in medical technology, services, and solutions. With a total revenue of $29.7billion in 2017, Medtronic is the top-selling medical devices company. Medtronic medical equipment are categorised into four groups; Cardiac & Vascular group ($10,498million, 3%); Minimally Invasive therapies group ($9,919million, 4%) and Diabetes group ($1,927million, 3%).
2) DEPUY SYNTHES
DePuy Synthes is a subsidiary company of Johnson & Johnson. DePuy Synthes produces various medical devices. Its 2017 revenue totaled $26.6billion, a 5.9% increase of its 2016 revenue. The major market drivers are the Surgery ($9,559million, 2.8%), Orthopaedic ($9,258million, -0.8%) and Vision Care segments ($4,063million, 45.9%).
3) FRESENIUS MEDICAL CARE
Fresenius Medical care is the world largest medical device company addressing specifically Chronic Kidney Failure. The company provides products and services for dialysis and cater to the needs of over 320,000 patients worldwide. With a total revenue of $20,9billion (€17.8billion), the company has ingrained its place as a leader in the global dialysis market.
Fresenius reported a 7% increase in sales in 2017 primarily offset by high sales of dialyzers and other dialysis products and also the acquisition of Cura Day hospitals in April 2017 thus expanding the network to around 40 outpatient facilities in Australia.
4) PHILIPS HEALTHCARE
Philips Healthcare is a medical technology subsidiary of Philips, the multinational conglomerate. Company sales rose to €17.8 billion, a nominal increase of 2%, which reflected 3% nominal growth in the Personal health (€7,310million, 3%) and Diagnosis Treatment businesses (€6,891million, 3%) and flat year-on-year sales in Connected care & Health Informatics (€3,163million, 0%).
5) GE HEALTHCARE
This subsidiary healthcare company of General Electric delivered a strong performance in 2017 and has secured its places as the 5th largest medical devices company. Its revenue grew to $20.4billion, a 6% increase from the previous year. Revenue growth was driven by higher sales volume in the US and Europe as well as in emerging markets particularly China and the Middle East.
6) SIEMENS HEALTHINEERS
Siemens healthineers is one of the largest health technology suppliers globally. They are focused on medical technology and software solutions. At the close of 2017, Siemens Healthineers reports a revenue of €14.2billion, a moderate increase of 2%, majorly offset by expanding growth in Latin America and Asia, Australia and further stabilization in China.
7) CARDINAL HEALTH
Cardinal Health is an integrated multinational healthcare company that provides pharmaceuticals and medical, surgical and laboratory products for healthcare institutions. Cardinal Health has two major business segments: Pharmaceutical- that distributes branded and generic pharmaceutical, specialty pharmaceutical, and over-the-counter healthcare and consumer products –and Medical Segments- that distributes Cardinal Health branded medical, surgical and laboratory products- in the United States. The medical segment sales grew by 9% to a total of $13.5billion in 2017.
Stryker is a US-based medical device company that specializes in Orthopaedics, Medical and Surgical (MedSurg) and Neurotechnology and Spine. The company delivered a strong performance while achieving a significant milestone of surpassing $12billion in sales. The total revenue of 2017 came to $12.4billion, a 9.9% well-balanced increase.
9) BECTON, DICKINSON (aka BD)
Headquartered in New Jersey, USA, the business activities include the development, manufacture, and sale of a broad range of medical supplies, devices, laboratory equipment and diagnostic products used by healthcare institutions, life science researchers, clinical laboratories, the pharmaceutical industry and the general public.
In 2017, BD reported a 3.1% decrease in its revenue ($12.1billion) from the prior-year period. Sales were unfavorably impacted by the divestiture of the Respiratory solutions business.
Wrapping things up is Baxter, an American Medical device company, with a total revenue of $10.6billion in 2017. Baxter International is a global medical device company with a broad portfolio of essential healthcare products. Its wide range of products includes but not limited to acute and chronic dialysis therapies; sterile intravenous (IV) solutions; infusion systems and devices; parenteral nutrition therapies; inhaled anesthetics; generic injectable pharmaceuticals; and surgical hemostat and sealant products. Baxter’s global net sales totaled $10.6 billion in 2017, an increase of 4% over 2016 on a reported and constant currency basis.