2017 RANKING & REVIEWS
TOP RANKING BEST MEDICAL DEVICE COMPANIES
Guide to the Top Medical Device Companies
When your very life depends on the medical device that supports you, you want to ensure that it is crafted from a reliable manufacturer. Bargains may not truly be bargains unless you’re purchasing your equipment from one of the top medical device companies in the industry. Next time you need to make a purchase, which of the medical device companies should you consider?
Award Emblem: Top 6 Best Medical Device Companies
Based on sales and revenue, AdvisoryHQ has compiled a ranking of the medical device distributors that are most popular among consumers and healthcare providers. Their medical machines run the gamut from small equipment to large and life-sustaining tools. These largest medical device companies each hold an impressive share of the market in their respected industry.
Purchasing medical appliances is a decision that should not be made lightly. Our list of medical device companies should give you an excellent starting point when doing research into the medical device industry.
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AdvisoryHQ’s List of the Top 6 Best Medical Device Companies
List is sorted alphabetically (click any of the companies below to go directly to the detailed review section for that medical device company):
Top 6 Best Medical Device Companies | Brief Comparison & Ranking
Top Medical Device Companies | Revenue | Specialty |
| Baxter International | $10.2 billion |
|
| General Electric | $18.1 billion |
|
| Johnson & Johnson | $70.074 billion |
|
| Medtronic | $58.8 billion |
|
| Phillips Healthcare | $26.72 billion |
|
| Siemens | $14.7 billion |
|
Table: Top 6 Best Medical Device Distributors | Above list is sorted alphabetically
What Should You Know About the Medical Device Industry?
Medical appliances and medical machines represent a huge section of the market when it comes to healthcare. New inventions and advances in technology mean that there are consistent developments and innovations for new medical devices. Because these medical device companies continue to make more money each time a new device is produced, they have an incredible stream of revenue flowing through.
Image Source: Pexels
According to research compiled by MarketRealist.com, the United States represents the vast majority of money that follows into this medical device industry. The top medical device companies in the United States represent approximately 45% of the total sales (a $136 billion share).
Following close behind is western Europe and Asia Pacific.
The Federal Drug Administration even goes further to divide medical device manufacturers into specific categories. They have seventeen different specialty areas that medical device companies can fall into. Consider just a few of the top areas where medical device companies are critical:
- Surgical instruments
- Dental instruments
- Syringes and hypodermic needles
- Diagnostic apparatuses
- Orthopedic instruments
For those consumers who are considering heading into the fields associated with medical device companies, they may want to consider the job growth. Medical device manufacturers are expected to continue to see growth within the industry, though less than in previous years.
Over the past decade, medical device manufacturing companies became accustomed to rapid expected growth. According to one source, this number was as high as 15% just ten years ago. Heading into the coming years, the largest medical device companies are still satisfied to see a growth rate of an estimated 5%.
To get a better idea for which names made our list of medical device companies, see the detailed breakdown below. We’ll cover what these medical device manufacturing companies are known for producing, their yearly revenues, and more. Before you make another purchase of medical devices or medical machines, you’ll want to know which of these top medical device companies is leading the field.
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Detailed Review – Top Ranking Medical Device Companies
Below, please find the detailed review of each company on our list of medical device distributors. We have highlighted some of the factors that allowed these top medical device companies to score so highly in our selection ranking.
Baxter International Review
Baxter International has a wide reach across the globe with an influence in over 100 countries. These medical device distributors span across North America, South America, Europe, the Middle East, and Africa. Not only that, but they have also had an extensive source of business throughout the Asia-Pacific area over the past few decades.
With one of the highest revenues in the industry, Baxter International can leverage its global presence with key innovations and technologies to be one of the top medical device companies in the world.
Key Factors That Led to Our Ranking of This as One of the Top Medical Device Companies
For more information on what qualified Baxter as one of the top medical device companies on our ranking, you’ll find the detailed breakdown of their products and business below.
Products
As with many of the medical device manufacturers on our ranking, Baxter takes a unique approach and has a specialty that sets it apart. These medical device companies handle a range of products, but they tend toward renal and hospital medical appliances. A few of their more popular products within the portfolio include:
- Home, acute, and in-center dialysis
- Sterile IV solutions
- Infusion systems and devices
- Biosurgery products and anesthetics
In addition, they are also focusing on expanding their global impact with a focus on reaching out to emerging countries across the globe. Their aim is to bring quality health care and medical devices to these areas that are relatively lacking.
Revenue
For the previous year, this medical device manufacturer had an estimated revenue of $2.65 billion, according to The Wall Street Journal.
In their annual report to shareholders, Baxter demonstrates an overall sales volume of $10.2 billion for the 2016 year ending on December 31. Sales growth showed a 4% increase over the previous year’s net revenue.
General Electric Review
When most consumers picture the top medical device companies, General Electric doesn’t often come to mind. It may be surprising for consumers to know that GE is actually one of the largest medical device companies on the market today. With unique specialties and a wide array of products, it’s no surprise that this selection made our list of medical device companies to keep an eye on.
Key Factors That Led to Our Ranking of This as One of the Top Medical Device Companies
Understand more detail regarding the special new medical devices that General Electric is consistently working to develop. Along with their innovation, their revenue and sales history are key components to what qualified them as one of the best medical device distributors around the globe.
Products
Like most of the medical device distributors that consumers are familiar with, General Electric has a handful of specialty areas they focus on. It appears that their primary focus for medical appliances lies in three areas: cardiology, orthopedics, and ambulatory surgery centers.
However, they also extend into a handful of additional areas with their medical machines:
- Electrophysiology
- Emergency care and intensive care
- Neurology
- Oncology
- Anesthesia
- Women’s health
While they may also make additional medical devices that can assist in other specialty areas, these tend to be the primary focus. For a medical device company as large as General Electric, their specialties are more far-reaching than a smaller company may be able to accommodate.
Revenue
For the 2015 fiscal year, General Electric boasted tremendous net sales of $18.1 billion. The company as a whole can brag about some impressive collective earnings over the past few decades. Since 1980, they’ve posted approximately $107 billion in capital earnings according to their 2015 annual report.
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Johnson & Johnson Review
Like several of the top medical device companies on our ranking, Johnson & Johnson doesn’t just specialize in the creation of medical devices. With products ranging from baby shampoos all the way to surgical instruments, this medical device distributor has plenty to offer consumers who want quality products from reputable companies.
Key Factors That Led to Our Ranking of This as One of the Top Medical Device Companies
To see more of what Johnson & Johnson can offer consumers searching for the best medical device companies, see the detailed review section below. This medical device manufacturer easily has the largest revenue of all companies included on our list of medical device companies.
Products
When it comes to their specialty areas, Johnson & Johnson boasts a fairly impressive spectrum of medical appliances and medical devices. One source claims that they had more than thirty different products lined up for potential approval by the end of the previous year. Their current areas of specialty include:
- Orthopedics
- Cardiovascular disease
- General and biosurgery tools
- Endocutters
- Wound closures
Other sources state that the company is currently looking into innovations that would allow it to expand into other healthcare fields. Medical device manufacturers like Johnson & Johnson are considering reaching into diabetes and vision care as well.
Revenue
With such an array of medical machines available for purchase, it isn’t much of a surprise that they have one of the largest revenues on our ranking. Many reviews consider Johnson & Johnson to have the highest revenue among all of the medical devices manufacturers and medical device distributors.
It can be difficult to tease out their total revenue from their other healthcare products that are offered. The Medical Device and Diagnostic Industry lists their total revenue for 2013 at $28.7 billion. By the time we have reached 2016, their annual revenue had come to $70,074 million with a net profit of $15,409 million.
Medtronic Review
Medtronic comes in near the very top, according to their annual revenue for our list of medical device companies. With four key areas where they focus their innovation, they have one of the largest workforces and reaches of all the medical device distributors on this ranking. Medtronic has a great influence in more than 150 countries with 88,000 employees and close to 5,000 patents awarded for their medical devices.
Key Factors That Led to Our Ranking of This as One of the Top Medical Device Companies
Beyond their impressive scope of work, what features allowed us to include Medtronic on our list of medical device companies? Find out more about what qualifies them as one of the top medical device companies in their product and revenue review below.
Products
When it comes to the medical machines that Medtronic is known for, they can easily divide their business revenue into four distinct segments. Within each one, they offer a variety of solutions and remedies to common ailments within the healthcare industry. Take a look at their four key specialty areas:
- Cardiac and vascular
- Minimally invasive therapies
- Diabetes
- Restorative therapies
Cardiac and vascular medical devices comprise the vast majority of the revenue for Medtronic with minimally invasive therapies following close behind (35% and 34% respectively). Much like some of the other medical device manufacturers on our ranking, they also cover renal products, surgical instruments, and more.
Revenue
When it comes to revenue, Medtronic easily soars into one of the top spots as one of the largest medical device companies. Their leading group, cardio and vascular systems, represents $10.2 billion in sales on its own. In combination with the other specialty areas, Medtronic easily has an annual revenue that comes in right around $58.8 billion for the previous year.
Image Source: Medtronic
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Phillips Healthcare Review
Phillips Healthcare is another of the top medical device manufacturers that all consumers and healthcare providers will want to consider for quality medical devices. They feature plenty of innovative solutions to meet industry needs in key areas not addressed by other medical device companies. For more information on their scope of work and study, you’ll find their specialty areas below.
Key Factors That Led to Our Ranking of This as One of the Top Medical Device Companies
Beyond just an impressive workforce of more than 100,000 employees in FTEs at the end of 2016, what compelling features make Phillips Healthcare one of the top medical device companies? Our detailed reviews below make those items perfectly clear.
Products
When it comes to healthcare solutions and the medical device industry, Phillips Healthcare has a few unique specialties not considered by other medical device manufacturers. Some overlap occurs in areas such as oncology, anesthesia, and cardiology, but other focuses include:
- Home respiratory care
- Critical care
- Mother and child care
- Radiology
- Sleep apnea
As a result of such a broad area of specialties, Phillips Healthcare has an incredibly detailed catalog of products to match. From advanced molecular imaging and computed tomography to emergency care and resuscitation solutions, these medical device companies have a lot to offer consumers and healthcare providers.
Revenue
How does Phillips Healthcare compare to the other medical device companies on our ranking? When it comes to sales, it certainly comes in close to the other medical device distributors on the list. According to their 2016 Annual Report, Phillips Healthcare had a net sales volume of €24,516 million (approximately $26.72 billion).
In their diagnostic and treatment category, these medical device companies saw a sales growth rate of 3% compared to the 2015 figures.
Siemens Review
Much in keeping with several of the other medical device manufacturing companies on our ranking, Siemens is well-known across a number of industries for their innovations. Healthcare is just another segment of their product development, but they have an impressive reach. Compared to several of the other medical device distributors, Siemens has quite a lengthy list of clinical specialties.
Key Factors That Led to Our Ranking of This as One of the Top Medical Device Companies
While their scope of work and study is a huge factor in why they are listed as one of the top medical device companies, you can find more information in the review sections below.
Products
When it comes to their specialty areas, Siemens has a number of clinical specialties that are completely unique to their brand. For just a few unique highlights, you can see the detailed listing below:
- Organ transplant
- Therapeutic drug monitoring
- Reproductive endocrinology
- Thyroid
- Pediatrics
- Bone metabolism
This medical device distributor also has some key areas that tend to overlap with many of the largest medical device companies. They specialize in developing products for cardiovascular issues, neurology, oncology, and surgery equipment. Within these categories, they carry quite an assortment of products to meet the needs of consumers and providers: medical imaging, lab diagnostics, point of care testing, therapy systems, and more.
Revenue
The revenue brought in by their healthcare segment (renamed the Siemens Healthineers) showed impressive growth for the 2016 year. There were more than €13,830 million worth of orders in 2016 and revenue of €13,535 million.
Growth saw a 4% increase in terms of orders and a 5% increase in terms of revenue. Even the profit margin for these medical device manufacturers saw a significant increase (up to 17.2% from 16.9% the previous year).
Image Source: Siemens
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Conclusion—Top 6 Best Medical Device Companies
Medical device manufacturers are consistently producing new products and innovative solutions that have a great impact on the healthcare industry as a whole. Consumers need to be aware of where their medical devices come from in order to make informed decisions regarding purchases of potentially life-sustaining equipment. Likewise, providers should also know where to look for cutting-edge technology in their respective fields.
These medical device companies are consistently leading the way with new developments and technologies. Sales and revenue continue to demonstrate their effectiveness in the current market.
When you’re in need of some new medical devices, it might behoove you to consider researching one of these top medical device companies at the very beginning of your research. Chances are, you’ll find what you’re looking for without having to search very hard.
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Reasonable efforts have been made by AdvisoryHQ to present accurate information, however all info is presented without warranty. Review AdvisoryHQ’s Terms for details. Also review each firm’s site for the most updated data, rates and info.
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