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Medtronic – 2016 revenue: $29bn – The leading medical device company in the world, Medtronic, enjoyed a staggering 42% growth in revenue compared with 2015 figures ($20.3 billion). The medical device giant operates in over 140 countries and employs more than 100,000 people that work across its principal units: cardiovascular, diabetes, spinal and biologics, neuromodulation, surgery and cardiac rhythm disease. Much of 2016 growth can be attributed to the completion of a very successful acquisition of medtech company Covidien.
Johnson & Johnson – 2016 revenue: $25.1bn – The second biggest medical device company on the list is American biopharmaceutical, consumer goods and medical device giant Johnson & Johnson, which has been a well-known household name across the globe for several decades. Their ranking on this list is based on the revenue from the company’s medical device subsidiaries that include Ethicon, Acclarent and DePuy Synthes. The group develop and manufacture products in various therapy areas: orthopaedic, cardiovascular, diabetes, vision care and surgery. The company saw a 2.6% increase in revenue in 2016 and intends to drive further growth in 2017 through greater innovation, portfolio management and by expanding into emerging markets.
GE Healthcare – 2016 revenue: $18.2bn – In the top three medical device companies in the world, General Electric is another multinational conglomerate that has a thriving healthcare segment, commonly known as GE Healthcare. The company produces medical devices like x-rays, ultrasound machines, incubators and CT image machines. It also develops devices that aid research and drug innovation and biopharmaceutical manufacturing. In 2016, the company experienced healthy 17.3% margin and in 2017, it aims to grow by expanding further into emerging markets and China. Recently, GE Healthcare has committed $300million under their initiative, Sustainable Healthcare Solutions, which aims to bring ‘disruptive technologies’ to these emerging markets where healthcare is less accessible.
Fresenius (Medical Care) – 2016 revenue: $18bn – German medical devices company Fresenius Medical Care specialises predominately in developing medical supplies to treat patients with renal (kidney) diseases, particularly to aid dialysis. The company attributes strong growth of 7% in 2016 to an increase in sales of dialysers and machines as well as positive price and volume effects. It also grew its workforce from 104,033 in 2015 to 109,319 in 2016, a 5% increase. Fresenius Medical Care intends to boost annual revenues to $28 billion by 2020.
Philips (Healthcare) – 2016 revenue: $16bn – 5th on a list of top medical device companies, Philips is a global conglomerate company that is the largest manufacturer of lighting in the world. Their healthcare segment is also hugely successful, developing medical devices in a number of therapy areas including anaesthesia, oncology and cardiology. The company experienced a 3% growth in sales in 2016 in part thanks to a serious of successful growth initiatives, including the acquisition of PathXL in June 2016 and the integration of Volcano back in 2015.
have a look at ProClinical Life Sciences Recruitment Blog to see the full top 10 list!