Top 40 Medical Device Companies In 2023
With the help of Science and Technology medical inventions/devices are breathtaking or shall we say life-giving. These devices can range from simple diagnostic tools like thermometers and blood pressure monitors to complex surgical equipment and implantable devices like pacemakers and artificial joints. Medical devices play a crucial role in the healthcare industry.
Let’s look at the top 40 Medical Device Companies:
1. Johnson & Johnson
Johnson & Johnson is an American multinational corporation with its headquarters in New Brunswick, New Jersey, USA. It was established in 1886. It offers a wide variety of goods, such as contact lenses, orthopedic implants, diagnostic imaging equipment, and surgical instruments. Johnson & Johnson is one of the biggest and most varied healthcare firms in the world, with a market worth of $443.83 billion as of 2023. It is led by CEO Joaquin Duato.
2. Medtronic
Medtronic is a global medical technology company founded in 1949 and is headquartered in Dublin, Ireland. Medtronic offers a wide range of medical devices for treatments and the company’s products include implantable heart devices such as pacemakers and defibrillators, insulin pumps, spinal and brain therapies, and surgical instruments and equipment. As of 2023, the company’s market capitalization is $104.72 billion and the CEO is Geoffrey S. Martha. Medtronic is one of the largest medical technology companies in the world and operates in more than 160 countries.
3. Philips Healthcare
Philips Healthcare is a division of Royal Philips, a Dutch multinational technology company founded in 1891 and located in Amsterdam, Netherlands. It offers a wide range of medical devices, including imaging systems, patient monitoring, diagnostic equipment, and home healthcare solutions. Philips’s market capitalization is $14.64 billion and under the CEO Roy Jakobs who is striving as one of the leading healthcare technology companies.
4. Alcon Laboratories
Alcon is a division of the international pharmaceutical corporation Novartis AG, which focuses on the creation, production, and marketing of eye care products. The business is situated in Fort Worth, Texas, in the United States, and was established in 1945. Alcon’s product line has a broad range of ophthalmic items, including contact lenses, surgical tools, and medications. Vas Narasimhan is the CEO of Novartis AG, which has a market value of $36.40 billion as of 2023. David J. Endicott is the division CEO of Alcon.
5. bioMerieux
bioMérieux is a French multinational diagnostics company that specializes in the manufacturing of medical devices for the diagnosis of infectious diseases and cancer. The company was founded in 1963 and is headquartered in Marcy l’Étoile, France. As of 2023, bioMérieux has a market capitalization of around $12.66 billion and its current CEO is Alexandre Mérieux. The company has a global presence with operations in over 150 countries.
6. Zimmer Biomet
A manufacturer of medical devices with a focus on orthopedic goods and services is Zimmer Biomet. The business was established in 1927, and it is based in Warsaw, Indiana, in the United States. Under the leadership of Bryan C. Hanson, the company has a market cap of $25.89 billion as of 2023 and operates in more than 100 nations.
7. Danaher
Danaher is a multinational corporation founded in 1969 and headquartered in Washington, D.C., USA. As of 2023, Danaher’s market capitalization is approximately $197 billion, and the current CEO is Rainer M. Blair. Danaher operates in several industries including Life Sciences, Diagnostics, Dental, Environmental & Applied Solutions and operates in over 60 countries worldwide.
8. Align Technology
Align Technology specializes in the manufacturing of clear aligners, intraoral scanners, and CAD/CAM systems. It was founded in 1997, it is headquartered in San Jose, California, USA. As of 2023, Align Technologies has a market cap of $19.16 billion and the current CEO is Thomas M. Prescott.
9. Drager
Dräger is a German multinational company, and it was founded in 1889. The company specializes in the manufacturing of medical devices, safety technology, and gas detection systems. Dräger’s market capitalization as of 2023 is $0.77 billion and the current CEO is Stefan Dräger.
10. GE Healthcare
GE Healthcare is a subsidiary of General Electric that specializes in the manufacturing of medical imaging, digital solutions, patient monitoring systems, drug discovery, biopharmaceutical manufacturing technologies, and performance improvement services. The company was founded in 2002, it is headquartered in Chicago, Illinois, USA. As of 2023, GE Healthcare’s market capitalization is $86.62 billion and the current CEO is Peter J Arduini.
11. Hologic Inc.
Hologic, Inc. operates globally and provides services to several industries including Obstetrics and Gynecology, breast health, and skeletal health. Hologic products include breast imaging systems, diagnostic systems, and minimally invasive surgical products. The company was founded in 1985, it is headquartered in Marlborough, Massachusetts, USA. As of 2023, Hologic’s market capitalization is approximately $19.52 billion, and the current CEO is Stephen P. MacMillan.
12. ConvaTec
ConvaTec was established in 1976 and is based in Skillman, New Jersey, in the United States. ConvaTec has a market value of about $6.20 billion as of 2023, and Karim Bitar is the CEO at the moment. The business serves several businesses, including those that deal with wound care, ostomy care, and continence care. Products from ConvaTec include ostomy bags, skin barriers, wound dressings, and items for managing one’s bladder and bowels.
13. Becton Dickinson
Becton, Dickinson, and Company (BD), a leading provider of medical technology, was established in Franklin Lakes, New Jersey, in 1897. Becton Dickinson has a market value of about $72.08 billion as of 2023, and Thomas Polen is the CEO at the moment. Products from Becton Dickinson include needles, syringes, diagnostic tools, lab supplies, and software.
14. ResMed
ResMed has its headquarters in San Diego, California, USA, and was established in 1989. The business specializes in producing devices like CPAP machines, cutting-edge mask systems, and software for patient administration and remote monitoring. ResMed has a market value of about $31.94 billion, and Michael J. Farrell is the CEO at the moment.
15. Roche Diagnostics
Roche Diagnostics is a subsidiary of Roche Holding AG. Its products include diagnostic reagents, instruments, and software for laboratory testing and point-of-care testing, as well as assays for genetic testing and molecular diagnostics. The company was founded in 1896, it is headquartered in Rotkreuz, Switzerland. As of 2023, Roche Diagnostics’ market capitalization is $262.31 billion and is run by Severin Schwan as the CEO.
16. Mevion Medical Systems
Mevion Medical Systems was founded in 1991 and is headquartered in Littleton, Massachusetts, USA. Mevion Medical Systems products include proton therapy systems and solutions, it is known for its compact size and high efficiency. As of 2023, Mevion Medical Systems’ market capitalization is not publicly disclosed yet and the current CEO is Dr. Tina Yu.
17. Varian Medical Systems
Products from Varian Medical Systems include linear accelerators, imaging technology, software for patient management and treatment planning, as well as goods for data management and quality control. The business was established in 1948 and has its US headquarters in Palo Alto, California. Dow R. Wilson is Varian Medical Systems’ current CEO, and the company’s market capitalization as of 2022 is roughly $16.26 billion.
18. Teleflex Medical
The headquarters of the international manufacturer of medical devices Teleflex is in Wayne, Pennsylvania, in the United States. The market value of Teleflex is about $11 billion, and Liam Kelly was the CEO as of 2023. Products made by Teleflex include airway management tools, catheters, guidewires, and other equipment used in interventional procedures. They also include products with diagnostic and therapeutic uses.
19. Coloplast
Coloplast products include ostomy bags, stoma care products, continence care products, and wound care products. The company was founded in 1954, it is headquartered in Humlebæk, Denmark. As of 2023, Coloplast’s market capitalization is approximately $171 billion and the current CEO is Kristian Villumsen.
20. Shimadzu
Shimadzu Corporation is a Japanese multinational corporation that specializes in manufacturing a wide range of scientific, analytical, and medical equipment. The company was founded in 1875, it is headquartered in Kyoto, Japan. As of 2023, the company has an $8.32 billion market cap and the current CEO is Teruhisa Ueda.
21. B. Braun
Products from B. Braun Melsungen AG are used in surgical instruments, extracorporeal blood treatment, and infusion therapy. Germany’s Melsungen serves as the company’s headquarters. It was established in 1839. The market valuation of B. Braun as of 2023 is not made available to the general public, and Jean-Claude Dubacher is the CEO at the moment.
22. Sirona
Dentsply Sirona is a medical device company that specializes in the manufacturing of products for the dental industry. Dentsply Sirona products include dental implants, orthodontic products, endodontic systems, and restorative materials. The company was formed by the merger of Dentsply International and Sirona Dental Systems in 2016 and is headquartered in York, Pennsylvania, USA. As of 2023, Dentsply Sirona’s market capitalization is approximately $7.85 billion, and the current CEO is Simon Campion.
23. Canon Medical Systems
The Otawara, Tochigi, Japan-based Canon Medical Systems Corporation, formerly Toshiba Medical Systems Corporation, was established in 1932. Canon Medical Systems is a subsidiary of Canon Inc., a publicly traded business, and as of 2023, its market value is roughly $21 billion. Toshio Takiguchi serves as Canon Inc.’s current CEO. Canon Medical Systems offers products like X-ray systems, ultrasound systems, MRI systems, computed tomography (CT) systems, and information systems.
24. Getinge Group
Getinge Group products include sterilization equipment, surgical equipment, and systems for patient care, as well as products for the management of infection and pressure ulcers. The company was founded in 1904 and is headquartered in Gothenburg, Sweden. As of 2023, Getinge’s market capitalization is approximately $56.75 billion, and the current CEO is Mattias Perjos.
25. Thermo Fisher
Thermo Fisher Scientific is a global biotech company. Its products include laboratory equipment and instruments, reagents and chemicals, software, services, and laboratory equipment for research, analytical and clinical laboratory. The company was founded in 2006, it is headquartered in Waltham, Massachusetts, USA. As of 2023, Thermo Fisher’s market capitalization is approximately $227.49 billion and the current CEO is Marc N. Casper.
26. Sysmex
Japanese multinational corporation Sysmex Corporation was established in 1968 and is based in Kobe. Hematology analyzers, coagulation analyzers, urinalysis analyzers, and chemicals for use in these systems are all available from Sysmex. The market valuation of Sysmex is about $13 billion as of 2023, and Hisashi Ietsugu is the company’s current CEO.
27. Fujifilm
The headquarters of the Japanese multinational firm Fujifilm is located in Tokyo. It was established in 1934. Shigetaka Komori is Fujifilm’s current CEO, and the company’s market valuation as of 2023 is roughly $20.76 billion. In addition to endoscopy and other medical devices, Fujifilm produces diagnostic imaging equipment such as X-ray machines, CT scanners, and ultrasound systems.
28. Intuitive Surgical
The US company Intuitive Surgical was established in 1995 and has its headquarters in Sunnyvale, California. Gary Guthart is the current CEO of Intuitive Surgical, which has a market cap of over $90.59 billion as of 2023. The da Vinci surgical system, a robotic-assisted platform used for minimally invasive surgery in urology, gynecology, general surgery, and cardiothoracic surgery, as well as tools and accessories utilized with the system, are among the goods offered by intuitive surgical.
29. Fresenius Medical Care
The headquarters of Fresenius Medical Care is in Bad Homburg, Germany, where it was established in 1912. Helen Giza is the current CEO of Fresenius Medical Care, which has a market capitalization of $10.73 billion as of 2023. Products for the treatment of acute kidney damage and other renal disorders are among its offerings, along with dialysis equipment, concentrates, and other items used in hemodialysis and peritoneal dialysis.
30. Olympus
Endoscopes, laparoscopes, and other surgical tools are among the products made by Olympus along with diagnostic imaging systems and other medical devices. It is an international corporation with its headquarters in Tokyo, Japan, and was established in Japan in 1919. Yasuo Takeuchi is Olympus’ current CEO, and the company’s market capitalization as of 2023 is $22.91 billion.
31. Grifols
Products from Grifols include diagnostic tools and reagents in addition to plasma-derived treatments including albumin, clotting factors, and immunoglobulins. Barcelona, Spain serves as the company’s headquarters. It was established in 1940. The market cap of Grifols is around $7.97 billion, and Victor and Raimon Grifols Roura is the company’s current CEOs.
32. Baxter International
Baxter International Inc., a multinational manufacturer of pharmaceuticals and medical devices with headquarters in Deerfield, Illinois, was established in 1931. Baxter’s market cap is projected to be $22.18 billion by 2023, and José (Joe) E. Almeida is the company’s CEO at the moment. Infusion systems, parenteral nutrition, biosurgery items, and renal products like dialysis equipment are among its offerings.
33. Edwards Lifesciences
Products from Edwards Lifesciences include those for structural heart disease and vascular disease, as well as heart valves, transcatheter heart valves, and critical care monitoring tools. The corporation was established in 1958, and Irvine, California, serves as its global headquarters. The market capitalization of Edwards Lifesciences is about $48.41 billion in 2023, and Michael A. Mussallem is the company’s current CEO.
34. Cardinal Health
With its headquarters in Dublin, Ohio, Cardinal Health is an American international corporation that was established in 1971. Mike Kaufmann is Cardinal Health’s current CEO, and the company’s market valuation as of 2023 is about $20 billion. Products from Cardinal Health include clinical goods and services, medication administration tools and services, and medical-surgical goods and services.
35. Terumo
In addition to blood management items including blood bags and tubing sets and equipment for anesthesia and airway control, Terumo also manufactures catheters, stents, and other devices for interventional treatments. Tokyo, Japan is home to the company’s headquarters, which was established in 1921. Shinjiro Sato is the company’s current CEO, and Terumo’s market valuation as of 2023 is roughly $20 billion.
36. Smith & Nephew
Orthopedic reconstruction items, like hip and knee replacements, sports medicine products, like arthroscopy equipment, and advanced wound care products, like wound dressings and negative pressure wound therapy systems, are just a few of Smith & Nephew’s offerings. The company’s headquarters are in London, United Kingdom, and it was established in 1856. Smith & Nephew has a market value of about $12.32 billion as of 2023, and Deepak Nath is the CEO at the moment.
37. Stryker
Orthopedic implants from Stryker include joint replacements and trauma devices, and neurotechnology items from the company include neurovascular devices, spine implants, and surgical tools. The corporation was established in 1941 and has its headquarters in Kalamazoo, Michigan, in the United States. Stryker’s market value is expected to be $95.37 billion in 2023, and Kevin Lobo is the CEO at the moment.
38. Boston Scientific
Boston Scientific produces ureteral stents, urethral dilators, cardiovascular devices like stents, pacemakers, and defibrillators as well as endoscopic products like guidewires and catheters. The company’s headquarters are in Marlborough, Massachusetts, and it was established in 1979. Michael F. Mahoney is Boston Scientific’s current CEO, and the company’s market valuation as of 2023 is at $64.94 billion.
39. Siemens Healthineers
Products made by Siemens Healthineers include innovative therapies like proton therapy and magnetoencephalography, as well as medical imaging equipment like X-ray, CT, and MRI machines, laboratory diagnostics tools, and reagents. The company, which has its headquarters in Erlangen, Germany, was established in 2018 as a spin-off from Siemens AG. Bernd Montag is the company’s current CEO, and Siemens Healthineers’ market valuation as of 2023 is roughly $59 billion.
40. Abbott Laboratories
Abbott’s products include diagnostic instruments and tests, medical devices such as stents and catheters, and nutrition products such as infant formula and adult nutritional products. The business was established in 1888, and Abbott Park, Illinois, is where it is headquartered today. Robert B. Ford is Abbott’s current CEO, and the company’s market valuation as of 2023 is roughly $194.42 billion.