10 Best Medical Device Manufacturers
Medical device manufacturers have experienced unprecedented popularity during the pandemic.
These companies have designed and manufactured numerous testing and preventive devices that have helped millions stay safe.
These companies have helped patients and doctors with ventilators, testing kits, face masks, and vaccines.
We considered several essential factors to create the list of the top medical device manufacturers. 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 in the US:
1 – Johnson & Johnson – US$ 369 billion
Johnson & Johnson (J&J) generates most 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 most prominent medical device manufacturer worldwide. It was also the 10th largest publicly traded company in terms of market cap in 2020.
Johnson & Johnson earns a total revenue of US$ 82 billion, with over 132,200 employees, and spends more than US$ 11 billion on research and development.
J & J mainly focuses on manufacturing medical devices required in ophthalmology, surgery, and orthopedics.
2- Abbott – US$ 144 billion
Abbott is a primary healthcare and medical device manufacturer 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 renowned for numerous technologies useful in diabetes care and general diagnostics.
The company is the world’s first global business organization to have received an EUA (Emergency Use Authorization) from the US FDA to manage the 2020 Pandemic.
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 most significant 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 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 a total revenue worth US$ 11.1 billion and has around 50,000 employees worldwide.
Baxter specializes in manufacturing medical devices used mainly in the hospital, critical, dental, 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.
Danaher ranks among the most prominent 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 started as a real estate investment trust over 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, manufacturing the first asthma inhaler.
3M Company was the first to manufacture and get FDA approval for the N-95 mask, which became crucial during the 2020 pandemic.
3M Company is also the most prominent global seller of sterile packaging for the medical industry.
Currently, 3M Company has a 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 to produce 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 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 over 65 million injection devices to prepare for the 2020 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 particular medical technologies.
Its Da Vinci robotic surgery system allows surgeons to conduct surgeries remotely 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.
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 treat tens of thousands of patients successfully and grow the companies to their renowned status.