Top 10 Medical Device Manufacturers in 2023

10 Best Medical Device Manufacturers of 2023

Medical device manufacturers have experienced unprecedented popularity during the pandemic.

These companies have designed and manufactured numerous testing and preventive devices that helped millions of people to stay safe.

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These companies have helped patients and doctors with ventilators, testing kits, face masks and even vaccines.

To create the list of the top medical device manufacturers, we considered several important factors. We took into account the company’s outstanding share value.

Top 10 Medical Device Manufacturers

Let’s take a quick look at the biggest medical device manufacturers of 2023 in the US:

top10 Medical Device Manufacturers of 2023

1 – Johnson & Johnson – US$ 369 billion

Johnson & Johnson (J&J) generates the majority of its revenue through pharmaceuticals and consumer health products. However, the company is a major manufacturer of medical devices too.

The brand is currently the biggest medical device manufacturer worldwide. It was also the 10^th largest publicly traded company in terms of market cap in 2020.

Currently, Johnson & Johnson earns total revenue of US$ 82 billion, with over 132,200 employees, and spends more than US$ 11 billion towards research and development.

J & J is mainly focused on manufacturing medical devices that are required in ophthalmology, surgery and orthopedics.

2- Abbott – US$ 144 billion

Abbott is a major healthcare and medical device manufacturer based in Chicago, Illinois. It was established over 130 years ago and has become a leader in the medical equipment industry.

Today, Abbott is ranked as the top manufacturer of cardiovascular devices, such as pacemakers, stents, replacement heart valves, etc.

The company is also renowned for numerous technologies useful in diabetes care and general diagnostic.

The company is the world’s first global business organization to have received a EUA (Emergency Use Authorization) from the US FDA to conduct COVID-19 tests.

Currently, Abbott has a total revenue of US$ 30 billion, employs over 103,000 people worldwide and operates in more than 60 countries.

3 – Medtronic – US$ 138 billion

Medtronic has been operational for over 65 years now. Today, it generates one of the largest portions of total sales in the US healthcare system.

In 2020, Medtronic was estimated to be worth US$ 30.5 billion, with over 100,000 employees working globally.

The company is renowned as one of the biggest medical device manufacturers.

It specializes in developing medical devices which are usually required in patient monitoring sectors, such as urological, respiratory, cardiovascular, orthopedic, etc.

Neurology is one of the sectors in which Medtronic rules the industry with its Percept PC system.

4 – Baxter – US$ 129 billion

Baxter is an Illinois-based healthcare company and one of the largest manufacturers of medical devices in the US. It boasts of total revenue worth US$ 11.1 billion and has around 50,000 employees working for it all over the world.

Baxter specializes in manufacturing medical devices used mainly in the hospital care, critical care, dental care, and surgical care sectors.

The Amia dialysis system is the flagship product from Baxter and is widely used to treat end-stage renal disorders for patients at home.

Baxter received EU clearance in 2009 and was included in the exclusive club for the H1N1 influenza vaccine.

5 – Danaher – US$ 105 billion

Danaher works closely with several US government departments, including the US Navy, NASA and the World Bank. It is based in the District of Columbia and headquartered in Washington, D.C.

Currently, Danaher ranks among the biggest medical device manufacturers globally, with total revenue worth US$ 20 billion. Danaher has over 71,000 employees working for it in over 60 countries.

Danaher initially started as a real estate investment trust more than 50 years ago.

In 1984, the company turned to manufacturing and is currently one of the largest medical device manufacturers in the world. Its majority of products are relevant to life sciences and the diagnostic sectors.

6 – General Electric – US$ 98 billion

General Electric (GE) is renowned for its vast range of electrical products. GE generated total revenue worth US$ 95 billion in 2020.

It had more than 200,000 people employed in its global operations. Its subsidiary, GE Healthcare, provides a wide range of medical devices.

GE Healthcare makes technologies that are used worldwide, from patient monitoring devices to diagnostic and drug delivery systems.

The brand has collaborated with other popular brands to ensure prompt design and development of groundbreaking diagnostic equipment.

7 – 3M Company – US$ 88 billion

3M Company started 120 years ago as a mining firm. It entered the healthcare industry in the 1950s when it manufactured the first asthma inhaler.

3M Company was the first to manufacture and get FDA approval for the N-95 mask, which became crucially essential during the COVID-19 pandemic.

3M Company is also the biggest global seller of sterile packaging for the medical industry.

Currently, 3M Company has total revenue of around US$ 32.8 billion and has over 93,000 employees working for it. The company reportedly spent around US$ 2 billion in research and development in 2019.

8 – Stryker – US$ 74 billion

Stryker is a Michigan-based manufacturer of surgical equipment, orthopedic implants, PPE kits and neurotechnology applications.

The company was founded in 1941 with the aim of producing top-quality medical products. Today, the company has grown to be one of the biggest medical technology firms in the world.

Stryker reported around US$ 13.6 billion in total revenue and employed more than 36,000 people.

The Mako Total Knee combines robotic arm-assisted technology and the Triathlon knee replacement implant.

9 – Becton Dickinson – US$ 67 billion

Becton Dickinson (BD) is the world’s biggest manufacturer of syringes and needles. It provided the UK government with more than 65 million injection devices to prepare for the COVID-19 pandemic.

The firm is based in New Jersey and works mainly in molecular diagnostics, surgery, infusion and diabetes management.

Becton Dickinson reported total revenue worth US$ 17.3 billion in 2019 and employed over 70,000 people in more than 50 countries worldwide.

10 – Intuitive Surgical – US$ 65 billion

Intuitive Surgical is most renowned for offering very specific medical technologies.

Its Da Vinci robotic surgery system, allows surgeons to conduct surgeries from remote locations or on-site using the advanced robotic surgical system.

This system is currently used significantly to perform critical surgeries, such as cardiac valve replacement, prostatectomies and gynecological surgeries.

Intuitive Surgical reported a total revenue of around US$ 3 billion in 2019 and employs more than 5,500 people.

Conclusion

This is the list of the best medical device manufacturers in the US in 2023. These companies have contributed significantly towards improving medical and surgical techniques.

Their efforts have helped successfully treat tens of thousands of patients and grow the companies to their renowned status.

Shubham Grover

I am a dedicated healthcare researcher and an enthusiast specializing in medical grants, medical education and research. Through my articles, I aim to empower healthcare professionals and researchers with valuable insights and resources to navigate these critical aspects effectively.

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