Below are the top 10 medical device companies in the world in 2022 based on revenue:
|Rank||Medical Device Company||Revenue (Billions)|
|2||Johnson & Johnson||
Medtronic plc tops the list of the top medical device company in 2022 — boasting $30.12B in revenue. Medtronic is an international medical device company based in Minneapolis, Minnesota. Its primary market is the United States; however, Medtronic operates globally. It currently operates in 140 countries and employs over 104,950 people.
Medtronic specializes in manufacturing and marketing devices in the following areas: cardiac rhythm disease, spine and biologics, cardiovascular, neuromodulation, diabetes, and surgical technologies (including ear, nose, and throat (ENT) diseases and cranial, spinal, and neurologic conditions.).
Johnson & Johnson comes in at number two on the list with a total of $22.95B in revenue. Founded in 1886, Johnson & Johnson has over 250 subsidiaries and operates in over 60 countries. DePuy Synthes is one such subsidiary that specializes in medical devices.
Johnson & Johnson sells a variety of orthopedics medical devices, spanning products in joint reconstruction, trauma, extremities, craniomaxillofacial, spinal surgery and sports medicine. It also has cardiovascular, surgery, and vision divisions.
Abbott ranks number three on the list with a total of $22.59B in revenue. Headquartered in Abbott Park, IL, Abbott serves patients across the world in the diagnostics and medical device industries.
Abbott is a market leader in diagnostics, cardiovascular devices, and neuromodulation devices.
Philips brings home a total of $19.32B in revenue each year. Philips is a multinational company headquartered in Amsterdam with operations spanning the globe. Philips has sales and operations in over 100 countries as of 2022.
Philips specializes in clinical informatics, medical imaging systems, and diagnostic monitoring.
GE Healthcare is a subsidiary of General Electric. It generates a total of $18.01B in revenue. Founded in 1994, GE Healthcare quickly established market share in the medical device industry. It currently operates in over 100 countries.
GE Healthcare is a market leader in PET, X-ray, CT, MRI, ECG and Ultrasound machines, bone densitometry, patient monitoring, and incubators and respiratory care systems.
Becton, Dickinson and Company, also known as BD, ranks number six on the list with revenues reaching $17.11B. Located in East Rutherford, New Jersey, BD is a leader in the medical devices industry and medical consulting industry.
BD offers an array of products to patients ranging from diagnostics, infusion, infection prevention, blood and urine specimen collection, and more.
A German-American company, Siemens Healthineers comes in at number seven with $16.93B in revenue. Siemens Healthineers operates three business units: Advanced Therapies, Diagnostics, and Imaging.
Siemens provides healthcare providers with angiography and interventional X-ray systems, radiation oncology devices, diagnostic devices, molecular imaging equipment, ultrasound machines, and more.
Headquartered in Dublin, OH and with over 48,000 employees, Cardinal Health ranks number nine on the list of top medical device companies in 2022. Cardinal Health provides products to over 75% of the hospitals in the United States.
Cardinal Health offers a portfolio of products specializing in patient monitoring, skin and wound management, infection control, compression, anesthesia, feeding tubes, and more.
Stryker is one of the largest medical device companies in the orthopedic implants industry. Stryker has grown both organically and inorganically — climbing to $14.35B in revenue. It acquired Wright Medical in 2019 for $4B.
Stryker is a market leader in orthopedic implants, surgical equipment, neurovascular products, patient handling and emergency medical equipment.
Baxter International ranks at number 10 on the top medical device companies of 2022 list. Baxter is headquartered in Deerfield, IL. It has two primary business units: BioScience and Medical Products.
The BioScience division manufactures and distributes medical supplies to treat hemophilia and kidney disease. The Medical Products division provides intravenous therapy, inhalational anaesthetics, and additional products.
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