Top Medical Device Companies in the World ranked by sales revenue for 2024

By: Donagh Fitzgerald B.Prod Eng and Claire Wilson BSc. Last Updated: May 2024

Here is a list of the top 15 world’s largest medical device and medtech companies based on 2023 sales revenue.

Note: For the purpose of ranking, revenues outside of the medical device, medtech and diagnostics sectors were excluded. For example:

  • Danaher Corp’s life science and biotechnology sales
  • Philips’s personal care sales
  • Abbott’s nutritionals and pharmaceutical sales
  • etc

For companies reporting in currencies other than USD, conversion to U.S. dollars is based on the exchange rate as of May 1st, 2024.

Revenue in (USD Billions) with percentage change from 2022.

1. Medtronic (US) – $31.22 billion -1.4%
2. J&J (US) – $30.40 billion +9.6%
3. Abbott Laboratories (US) – $26.87 billion -14%
4. Siemens Healthineers (Germany) – $23.2 billion -09%
5. Medline Industries (US) – $21.20 billion +5%
6. Stryker (US) – $20.49 billion +7.6%
7. GE Healthcare (US) – $19.52 billion +5.7%
8. Becton Dickinson (US) – $19.40 billion +2.6%
9. Roche (Switzerland) – $15.4o billion -20%
10. Baxter (US) – $14.80 billion -1.9%
11. Philips (Netherlands) – $14.95 billion +2.8%
12. Boston Scientific (US) – $14.2o billion +12%%
13. Danaher (US) – $9.6o billion -11%
14. B. Braun (Germany) – $9.39 billion +3%
15. Fresenius (Germany) – $8.62 +3%


15. Fresenius SE & Co (Germany)

2023 (Fresenius Kabi): $8.62 billion (€8.09 billion)
2022 (Fresenius Kabi): $8.40 billion (€7.85 billion)
Change: +3%
2023 total revenue: $23.86 billion (€22.29 billion)
Number of employees (Fresenius Kabi): 43,200

Fresenius SE & Co has its corporate headquarters is in Bad Homburg v. d. Höhe, Germany and presently has 45 production sites in more than 20 countries around the world and is a supplier of essential drugs, clinical nutrition products, and medical devices. Note: we have only included revenue from Fresenius Kabi and have excluded revenue from Fresenius Helios and Fresenius Vamed.

Ref: Fresenius SE & Co Annual Report 2023

B. Braun Logo

14. B. Braun (Germany)

2023: $9.39 billion (€8.775 billion)
2022: $9.19 billion (€8.49 billion)
Change: +3%
Number of employees: 63,000
Revenue per employee: $144,200

B. Braun is a medical and pharmaceutical device company based in Melsungen, Germany. With a history dating back to its founding in 1839, the company remains family-owned by the Braun family. B. Braun has over 63,000 employees worldwide and operates offices and production facilities in more than 60 countries.

Ref: D. Braun Annual Report 2023

Danaher Logo

13. Danaher Corp. (US)

2023 (Diagnostics): $9.6 billion
2022 (Diagnostics): $10.8 billion
Change: -11%
2023 total revenue: $23.9 billion
Number of employees: 63,000
Revenue per employee: $388,000

Danaher Corp is a family of more than 30 companies including Beckman Coulter, Implant Direct and Leica Biosystems. The Danaher group encompasses diagnostics, life sciences and biotechnology with a number of sites around the globe.

Ref: Danaher Corp Annual Report 2023

Boston Scientific Logo

12. Boston Scientific Corp (US) 

2023: $14.2 billion
2022: $12.68 billion
Change: +12.3%
Number of employees: 48,000
Revenue per employee: $295,000

Boston Scientific produces a large range of medical devices used to diagnose and treat patients with issues in the areas of cardiology, urology, endoscopy and many more. It was founded in 1979 with the aim of creating less invasive medical devices and procedures, they continue to innovate across expanding areas of medicine. They estimate that around 21 million people were treated with one of their products in 2014. Boston Scientific currently employs approximately 48,000 people across 40 countries.

Boston Scientific has had a manufacturing presence in Ireland since 1994. There are currently three manufacturing sites – Galway, Cork, and Tipperary. Established in 1994, the Galway site is the largest in the country providing research and development, manufacturing, regulatory affairs, and new product development. The Cork site was opened in 1998 and manufactures a range of devices across several areas of the business. In Clonmel, they have a focus on the development, manufacture, and distribution of defibrillators and pacemakers – the Cardiac Rhythm Management area is an area of high potential and growth for the company. These sites export approximately 10 million devices every year. They currently have around 5,700 employees across Ireland.

Ref: Boston Scientific Corp Annual Report 2022

Philips Logo

11. Philips NV (Netherlands)

2023 (Diagnosis & Treatment and Connected Care): $14.95 billion (€13.95 billion)
2022 (Diagnosis & Treatment and Connected Care): $14.64 billion (€13.57 billion) 
Change: +2.8%
2023 total revenue: $20.04 billion (€18.7 billion)
Number of employees: 69,700
Revenue per employee: $298,000

Philips is a technology company based in The Netherlands with headquarters in Amsterdam. Their main areas of focus are lighting, electronics, and healthcare – the latter accounts for 42% of global sales revenue. Philips Healthcare is a diverse range of over 450 different types of medical equipment including MRI scanners, diagnostic ECG devices, and patient monitoring equipment.

Ref: Philips NV Annual Report 2023

Baxter Logo

10. Baxter (US)

2023: $14.80 billion
2022: $15.10 billion 
Change: -1.9%
Number of employees: 60,000
Revenue per employee: $260,000

Baxter began in the 1930s by launching the first commercially prepared intravenous solutions, today Baxter operates as a global diversified healthcare company. Its products serve disease areas such as hemophilia, infectious diseases, kidney disease, immune disorders, and trauma treatment.

Baxter moved into Ireland in the mid-1960s and built its first manufacturing site there in 1972. They currently have two manufacturing sites in County Mayo: one in Castlebar, where they produce renal dialysis solutions, premixed IV solutions, and several drug products; the other in Swinford, which produces devices for administration of these products. Between them, they employ over 1000 people. They also have a compound facility and sales and marketing offices in Dublin.

Ref: Baxter Annual Report 2022

Roche Logo

9. Hoffmann-La Roche AG (Switzerland)

2023 (Diagnostics): $15.48 billion (14,10 billion CHF)
2022 (Diagnostics): $19.45 billion (17.73 billion CHF)
Change: -20%
2023 total revenue: $69.4 billion
Number of employees: 103,600
Revenue per employee: $669,000

Hoffmann-La Roche is a Swiss global healthcare company founded by Fritz Hoffmann-La Roche after whom the company is named, in 1896. Its headquarters is located in Basel, Switzerland. Other companies owned by Roche are Genentech, Chugai Pharmaceuticals and Ventana. It manufactures a range of Diabetes management products under the brand name Accu-check.

Ref: Hoffman-La Roche AG Annual Report 2023

BD Logo

8. Becton Dickinson & Company (BD) (US)

2023: $19.40 billion
2022: $18.90 billion
Change: +2.6%
Number of employees: 75,000
Revenue per employee: $258,000

Becton Dickinson & Company (BD) was founded in 1897 in New Jersey, US, and now employs 75,000 people in over 50 countries around the world. They manufacture and sell medical devices, instrument systems, and reagents and the company was a pioneer in the production of hypodermic needles. Presently, the company is divided into three sectors – BD Medical, BD Life Sciences and BD Interventional.

BD has had a presence in Ireland since 1969 and currently has more than 1,000 employees in Ireland across four sites at Drogheda, Dun Laoghaire, Wexford and Limerick.

Ref: Becton Dickinson & Company Annual Report 2023

GA Healthcare Logo

7. GE Healthcare (USA)

2023: $19.52 billion
2022: $18.46 billion
Change: +6%
Number of employees: 51,000
Revenue per employee: $384,000

GE Healthcare is the medical technology subsidiary of General Electric – a multinational conglomerate based in the USA. With a history as far back as 1893, the healthcare subsidiary today is involved in areas such as medical imaging, diagnostics, and patient monitoring. They work in specialized disease areas including neurology, coronary disease, and cancer.

GE Healthcare has Sales and Service Support offices in both Belfast and Dublin but also has a Global Manufacturing site in Cork. The site is of particular importance for the ‘contrast media’ technology manufacturer which is improving the visibility of structures in radiography processes. Approximately 750 people are employed within the Cork manufacturing site and products from this site are exported to over 70 countries worldwide.

Ref: GE Healthcare Annual Report 2023

Stryker Logo

6. Stryker Corp (US)

2023: $20.49 billion
2022: $18.40 billion
Change: +11.3%
Number of employees: 52,000
Revenue per employee: $394,000

Founded by an orthopedic surgeon in the U.S. in 1941, Dr. Stryker was aiming to make products that met his patient’s healthcare needs. Stryker continues in the field of medical technology with a focus on surgical devices and is now one of the biggest such companies in the world. They currently employ over 52,000 people worldwide.

Stryker has seven sites located across Ireland – five manufacturing sites in the Republic of Ireland and an R&D Innovation Centre in Cork. They also have a manufacturing site in Belfast, Northern Ireland. Stryker employs over 3,500 people.

Ref: Stryker Corp Annual Report 2022

Medline Industries Logo

5. Medline Industries (US) 

2023: $21.2 billion
2022: $20.2 billion
Change: +5%
Number of employees: 36,000
Revenue per employee: $589,000

Medline is a healthcare company – a medical supply manufacturer, distributor, and solutions provider focused on improving the overall operating performance of healthcare.

Ref: Medline Annual Report 2023

Siemens Logo

4. Siemens Healthineers (Germany)

2023: $23.21 billion (€21.68 billion)
2022: $23.43 billion (€21.71 billion)
Change: -0.9%
Number of employees: 69,500
Revenue per employee: $337,000

Siemens is a multinational conglomerate based in Germany – it is the biggest engineering company in Europe covering sectors including energy, industry, and healthcare. Siemens Healthineers focus on equipment for medical imaging, clinical IT and lab diagnostics and employs around 69,500 people worldwide.

Siemens has over 450 employees across Ireland including staff in headquarters and sales roles. More specifically, Siemens Healthineers has a manufacturing plant for diagnostic equipment in Swords in Dublin.

Ref: Siemens Healthineers Annual Report 2023

Abbott Logo

3. Abbott Laboratories (US) 

2023 (Medical Devices & Diagnostics): $26.87 billion
2022 (Medical Devices & Diagnostics): $31.27 billion
Change: -14%
2023 total revenue: $40.01 billion
Number of employees: 114,000
Revenue per employee: $351,700

Founded in 1888, Abbott has now become one of the leading pharmaceutical and medtech companies in the world. They produce a broad range of branded generic pharmaceuticals, medical devices, diagnostics, and nutrition products and in 1985, the company developed the first-ever HIV blood-screening test.

At present, they have a number of sites in Ireland including in Dublin, Sligo and Tipperary, where they employ over 5,000 people.

Ref: Abbott Laboratories Annual Report 2023

JNJ Logo

2. Johnson & Johnson (US)

2021 (MedTech): $30.40 billion
2022 (MedTech): $27.40 billion
Change: +9.6%
2023 total revenue: $85.16 billion
Number of employees: 134,400
Revenue per employee: $635,000

Founded in 1886 with the initial idea that wounds should be treated and dressed using sterile equipment – today’s Johnson & Johnson is one of the world’s biggest healthcare companies. Johnson & Johnson operates three distinct divisions – medical devices, pharmaceuticals, and consumer health. Both their medical device and pharmaceutical divisions have manufacturing sites in Ireland. Johnson & Johnson products are marketed in 57 countries via almost 250 operating companies – global personnel is approximately 132,200.

Johnson & Johnson has had a presence in Ireland for over 70 years. Today, that presence is in the form of DePuy Synthes, Janssen (Biologics & Sciences), Johnson & Johnson Vision Care and Ethicon. Between them, they have several separate manufacturing operations in both Limerick and Cork.

Ref: Johnson & Johnson Annual Report 2023

Medtronic Logo

1. Medtronic (US)

2023: $31.22 billion
2022: $31.68 billion
Change: -1.4%
Number of employees: 95,000
Revenue per employee: $333,000

Medtronic began as a medical supply repair shop in the US in 1949, their first commercial product was a battery-powered, wearable pacemaker. From then on they have focussed on technology as a means of improving treatment. Today there is a focus on using that technology to improve treatment and management of chronic conditions specifically – Medtronic claims that “every three seconds, another life is improved by a Medtronic product or therapy”. In 2014, Medtronic bought Irish-headquartered Covidien to further expand its scope. Globally, Medtronic employs over 95,000 people in over 150 countries.

Medtronic moved into Ireland in 1999 and now operates five facilities – two manufacturing sites in Galway, a manufacturing site in Westmeath and two office sites in Dublin. Their Galway sites employ over 2,000 people and manufacture respiratory monitoring devices.

Ref: Medtronic Annual Report 2023

Note: Medline Industries, Henry Schein and Owens & Minor were not included as these companies focus more on distribution, logistics and health-services

About the Author

Our Team

Donagh Fitzgerald

Head of Marketing & Product Development
Mechanical/Production Engineer

Donagh looks after the marketing and product development including the training and pedagogical elements of our programs and makes sure that all GetReskilled’s users can have a great online learning experience. Donagh has lived and worked in many countries including Ireland, America, the UK, Singapore, Hong Kong and Japan. Donagh has also served as the Program Manager for the Farmleigh Fellowship based out of Singapore.

Donagh holds Degrees in Production Engineering and Mechanical Engineering from South East Technological University, Ireland.

Image with Claire Wilison from GetReskilled Team

Claire Wilson

Content Marketing and Career Coaching

Claire runs GetReskilled’s Advanced Career Coaching Programme – our specially devised job hunting course that helps our trainees take that final step into employment by leading them through the job hunting process. She is extremely enthusiastic about helping people reach their final goal of employment in their new career path.

Claire has a BSc (Hons) in Medical Biology from Edinburgh University and spent 7 years working in the pharmaceutical and medical device industries.