The world’s largest medical device companies

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The Medtech Big 100 – The World’s Largest Medical Device Companies

Medical technology companies are becoming stand-alone companies. This translates to new names among the 2022 Medtech Big 100 ranking of the world’s largest medical device companies.

Have you ever wondered, “Which are the biggest medical device companies?” Medtronic, Johnson & Johnson MedTech (which changed its name from Johnson & Johnson Medical Devices this year), and Siemens Healthineers still top the list by revenue. Scroll further down, however, and you’ll come across new names like Enovis and ZimVie. GE HealthCare plans to keep its name when it becomes its own independent company early next year. Will 3M’s healthcare segment, slated for its own spin-out in 2023, do the same? And will 3M’s home state of Minnesota retain the new headquarters? Time will tell us.

Medical design and outsourcing collected thousands of data points to assess publicly listed companies and private companies in the industry, including annual revenue, R&D expenditure, number of employees, key executives, headquarters across the globe and descriptions of each company – from Abbott to Zimmer Biomet. (Here is last year’s report.)

This project draws on data from Securities and Exchange Commission filings, facts and figures shared directly with us by leading medical device companies, and media coverage of Medical design and outsourcing, mass device and other WTWH Media Life Sciences brands. Note that the majority of these companies operate on standard calendar years, but some have fiscal years for which we collected data as recently as August 2022. (Medtronic’s fiscal year, for example, ended on April 29, 2022.) Because we moved this year’s reporting date from November to September, a few companies have data carried over from last year’s report because their fiscal years end at the end of September.

We’re planning a host of stories based on the Big 100 report. We’ll add links here as they become available. Trends we are seeing include large conglomerates turning medical device companies into standalone businesses. Some large companies, including GE HealthCare, are also turning to substantial partnerships rather than outright mergers and acquisitions in order to stay competitive. Additionally, medtech companies have had to respond to macroeconomic headwinds, including a strong dollar making it more difficult for U.S. companies to export, inflation, supply chain disruption, and more.

Speaking of currency, please note that we have converted foreign currencies reported by companies to US dollars using standardized Federal Reserve rates.

Click on the lists below to learn more about the companies that power the global medical device industry:

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