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Top 18 Medical Device Manufacturing Companies in The World


Medical devices encompass a broad range of healthcare products used for diagnosis, monitoring, treatment, and prevention of diseases and medical conditions. The global medical device market was valued at over $425 billion in 2021 and is expected to grow steadily.

Hundreds of companies worldwide are involved in the design, development and manufacturing of medical devices. However, the market is dominated by some large players with billion-dollar revenues. This article looks at the 18 biggest medical device manufacturing companies based on their global revenue from medical devices.

Top Medical Device Companies

1. Medtronic

Headquarters: Dublin, Ireland

Medical Revenue (2021): $30.3 billion

Medtronic is the undisputed leader in the medical devices market. It offers a broad portfolio of medical products and therapies for cardiac rhythm disorders, heart failure, spinal conditions, diabetes and more. Some key products include pacemakers, defibrillators, heart valves, stents, insulin pumps, surgical tools and bone implants.

2. Johnson & Johnson

Headquarters: New Brunswick, NJ, USA

Medical Revenue (2021): $27 billion

Johnson & Johnson has a diversified medical device portfolio spanning across orthopedics, surgery, vision care, diabetes management and cardiovascular products. Popular brands include DePuySynthes implants, Ethicon sutures, Acuvue contact lenses, OneTouch glucose meters amongst others.

3. Abbott

Headquarters: Abbott Park, IL, USA

Medical Revenue (2021): $15.6 billion

Abbott’s medical devices are focused on life-saving technologies in areas like vascular care, diabetes management, heart failure, neuromodulation and vision care. It offers products such as stents, pacemakers, glucose monitoring systems, infant nutritionals and LASIK technologies.

4. GE Healthcare

Headquarters: Chicago, IL, USA

Medical Revenue (2021): $14.3 billion

GE Healthcare is a subsidiary of General Electric involved in medical imaging, digital solutions, patient monitoring and diagnostics. It offers X-ray, MRI, CT, PET, ultrasound systems, ECG monitors, incubators, ventilators and more for healthcare settings.

5. Siemens Healthineers

Headquarters: Erlangen, Germany

Medical Revenue (2021): $13 billion

Siemens Healthineers also specializes in advanced medical imaging modalities and associated IT solutions. Its systems include MRI, CT, molecular imaging, X-ray, ultrasound, fluoroscopy and angiography units sold globally.

6. Philips Healthcare

Headquarters: Amsterdam, Netherlands

Medical Revenue (2021): $12.8 billion

Philips has a wide array of imaging systems, monitoring and respiratory products, diagnostic equipment and healthcare IT solutions. Key offerings include MRI, CT, X-ray systems, ultrasound devices, patient monitors, ventilators and telehealth platforms.

7. BD

Headquarters: Franklin Lakes, NJ, USA

Medical Revenue (2021): $11.3 billion

Becton, Dickinson and Company (BD) manufactures medical consumables and instruments used in clinical labs, life sciences research and diagnostics. Major products include syringes, IV catheters, infusion pumps, medication management tools and safety injection systems.

8. Stryker

Headquarters: Kalamazoo, MI, USA

Medical Revenue (2021): $11.2 billion

Stryker produces specialty surgical and medical products including orthopedic implants, endoscopy systems, surgical navigation tools, patient handling equipment and emergency medical products. Key segments served include joints, neuro technology, spine and cardiovascular.

9. Baxter

Headquarters: Deerfield, IL, USA

Medical Revenue (2021): $11 billion

Baxter provides IV therapy systems, dialysis equipment, infusion pumps, nutritionals and biosurgery products. It serves hospitals, clinics, dialysis centers and homecare settings. Major products include IV solutions, administration sets, dialysis machines, drug delivery devices and plasma collection kits.

10. Boston Scientific

Headquarters: Marlborough, MA, USA

Medical Revenue (2021): $10.7 billion

Boston Scientific is a leader in interventional medical devices for cardiac rhythm management, peripheral interventions, neuromodulation, urology and pelvic health. Key products are pacemakers, defibrillators, stents, catheters, endoscopy tools and stone management devices.

11. Cardinal Health

Headquarters: Dublin, OH, USA

Medical Revenue (2021): $10.2 billion

While Cardinal Health distributes pharmaceuticals and medical products, it also manufactures its own line of patient care, safety and laboratory products including infusion pumps, injury prevention items, wound care solutions, sharps containers and more.

12. Fresenius Medical Care

Headquarters: Bad Homburg, Germany

Medical Revenue (2021): $10.1 billion

Fresenius focuses on products and services for dialysis patients worldwide. It manufactures dialysis machines, dialyzers, peritoneal dialysis solutions, renal drugs and concentrates used in hemodialysis procedures at hospitals and clinics.

13. Olympus

Headquarters: Tokyo, Japan

Medical Revenue (2021): $7.1 billion

Olympus is a renowned manufacturer of precision opto-digital products spanning medical technology, life sciences and cameras/audio products. In healthcare, it provides endoscopes, thermography, microscopes and non-destructive testing equipment.

14. Intuitive Surgical

Headquarters: Sunnyvale, CA, USA

Medical Revenue (2021): $5.7 billion

Intuitive Surgical is dedicated solely to robotic-assisted technologies for minimally invasive surgery. It manufactures the da Vinci surgical system and Ion endoluminal system for complex surgery using robotics and AI capabilities.

15. Zimmer Biomet

Headquarters: Warsaw, IN, USA

Medical Revenue (2021): $5.7 billion

Zimmer Biomet produces orthopedic surgical products for joint, bone, dental and spinal procedures. Leading brands include Biomet, CMW, DePuy and ISTO Technologies acquired by Zimmer Holdings to form this company.

16. B. Braun

Headquarters: Bethlehem, PA, USA

Medical Revenue (2021): $5.1 billion

B. Braun manufactures specialty infusion therapy, pharma and surgical products. Key medical offerings include custom IV solutions, infusion pumps, nutritionals, dialysis products, orthopedic implants, sutures and trocars.

17. Terumo

Headquarters: Tokyo, Japan

Medical Revenue (2021): $4.6 billion

Terumo provides high-quality vascular intervention products such as guidewires, angiographic catheters, access sheaths and stents alongside transfusion and cell therapy technologies. It serves interventional cardiologists, radiologists and surgeons.

18. Beckman Coulter

Headquarters: Brea, CA, USA

Medical Revenue (2021): $3.8 billion

Beckman Coulter develops diagnostics systems for clinical laboratories including chemistry analyzers, cellular analysis tools, hematology systems, and molecular diagnostic equipment. Its products are used for disease screening and healthcare management.

Top Medical Device Companies by Segment

The medical device industry can be broadly classified into the following segments based on application:

Cardiovascular Devices

Medtronic, Boston Scientific, Abbott, Edwards Lifesciences, LivaNova

Orthopedic Devices

Zimmer Biomet, Stryker, DePuy Synthes, Smith & Nephew, Exactech

Surgical Tools and Supplies

Johnson & Johnson, Becton Dickinson, B. Braun, Olympus, Stryker

Patient Monitoring and Diagnostics

GE Healthcare, Philips, Medtronic, Abbott, Siemens Healthineers

Diabetes Management

Dexcom, Medtronic, Insulet, Abbott, Roche, Tandem Diabetes

Dental Devices

Dentsply Sirona, Envista, Align Technology, 3M, Straumann

Ophthalmic Devices

Johnson & Johnson, Zeiss, Alcon, Haag-Streit, Topcon, Bausch + Lomb

Global Medical Device Market Share

The below chart shows the percentage market share of the top 10 medical device companies in the global market:

CompanyGlobal Market Share
Johnson & Johnson12%
Abbott Laboratories7%
GE Healthcare6%
Siemens Healthineers6%
Philips Healthcare6%
Stryker Corp5%
Boston Scientific5%
Baxter International5%

Leading Countries in Medical Device Production

The United States is the biggest producer and market for medical devices globally, followed by Western European countries and Japan:

RankCountryProduction Value
1United States$156 billion
2Germany$32 billion
3China$27 billion
4Japan$26 billion
5Ireland$12 billion
6Switzerland$11 billion
7Netherlands$10 billion
8United Kingdom$9 billion
9Mexico$8 billion
10France$7 billion

However, emerging markets led by China, India and Brazil are experiencing rapid growth. Low cost manufacturing, increasing healthcare investments and favorable regulations are driving growth in these regions.

Characteristics of Top Medical Device Companies

Some common traits seen in the leading medical device manufacturers include:

  • Innovation – Continuous R&D and new product development. Rapid innovation to meet healthcare needs.
  • High Quality – Stringent quality control and regulatory compliance. Focus on safety and efficacy.
  • Specialized Expertise – In-depth domain knowledge and specialization in niche areas.
  • Global Scale – Large production capacities and worldwide sales footprint.
  • Diversification – Diverse product portfolio across healthcare segments for stability.
  • Partnerships – Collaboration with healthcare providers, government and academia.
  • Talent pool – Resources to attract top engineering and biomedical talent.


Medical device manufacturing is a multi-billion dollar industry impacting human lives worldwide. While hundreds of companies operate in this space, Medtronic, Johnson and Johnson, Abbott, GE and Siemens control nearly half the market with their diversified product portfolios. Other leading names include Philips, BD, Stryker, Boston Scientific and Baxter.

With rising healthcare spending and demand, the global medical device production is expected to continue growing steadily in the years ahead. Both developed and emerging markets offer significant expansion opportunities for these top medical technology companies.

Frequently Asked Questions

Who are the top 5 medical device companies in the world?

The top 5 medical device companies worldwide currently are:

  1. Medtronic
  2. Johnson & Johnson
  3. Abbott Laboratories
  4. GE Healthcare
  5. Siemens Healthineers

Which country has the best medical device industry?

The United States has the most well-established and innovative medical device industry globally. Four of the top 5 medical device companies are headquartered in the US. Other countries with strong medtech industries include Germany, Switzerland, Japan and Israel.

Which medical devices have the highest growth?

Some high growth medical device segments currently are digital health/wearables, orthopedic implants, surgical robots, INR home testing, glucose monitors, ultrasound systems and spinal implants.

What are the newest medical device technologies?

Some emerging medical technologies include artificial intelligence for diagnostics/imaging, augmented reality for surgery, 3D printed implants, robotic surgery systems, nanotechnology, bioelectronics, virtual reality for rehabilitation and telehealth platforms.

What is the most common medical device?

Syringes, needleless IV connectors, gloves and surgical blades are among the most ubiquitously used commodity medical devices globally. Stethoscopes, scalpels, forceps, bandages, and medical gowns/drapes are other very common medical products.




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