What are the Top Medical Device Companies in the World?
The Industry has shown strong growth for many years with 2017. Worldwide revenue has exceeded 389 Billion US Dollars and projected to continue to grow strongly fuelled by ageing population and a worldwide growth in consumer spending power.
Here is a list of top 15 world’s largest medical device companies based on 2017 revenue.
15. Zimmer Biomet (US)
2017 Revenue: $7.80 billion
Number of Employees: 18,200
Revenue per Employee: $429,000
Zimmer Biomet was founded in Warsaw, Indiana in 1927 and today has operations in over 25 countries around the world and sells products in more than 100 countries. They are one of the leading designers, developers, and manufacturers of orthopedic products, including knee, hip, shoulder, elbow, foot, and ankle artificial joints.
14. B Braun (Germany)
2017 Revenue: $8.10 billion
Number of Employees: 61,583
Revenue per Employee: $132,000
B Braun is a German medical and pharmaceutical device company which has sites in over 50 countries worldwide. Founded in 1839, its headquarters are located in the small town of Melsungen in central Germany and the company is still owned by the Braun family today. They manufacture products for a wide range of areas, from Diabetes care to orthopedic joints.
13. Danaher Corp. (US)
2017 Revenue: $8.60 billion
Number of Employees: 67,000
Revenue per Employee: $128,000
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 dental care with a number of sites around the globe.
12. Essilor International (France)
2017 Revenue: $9.00 billion
Number of Employees: 67,000
Revenue per Employee: $134,000
Essilor is a French-based company who specialize in lens manufacture – they are the biggest producer of ophthalmic lenses in the world. The company was established in 1972 after the merging of two rival lens manufacturers. As well as manufacture, the company remains heavily invested in research and development.
11. Boston Scientific Corp (US)
2017 Revenue: $9.00 billion
Number of Employees: 29,000
Revenue per Employee: $310,000
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 29,000 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 4700 employees across Ireland.
10. Baxter (US)
2017 Revenue: $10.60 billion
Number of Employees: 47,000
Revenue per Employee: $226,000
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, pre-mixed 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 Compounding Facility and Sales and Marketing offices in Dublin.
9. Becton, Dickinson & Co (US)
2017 Revenue: $12.10 billion
Number of Employees: 41,933
Revenue per Employee: $289,000
Started in 1897, BD now employs almost 40,000 people in over 50 countries. Their focus is on medical technology to improve drug delivery, diagnostic abilities, and advancing drug discovery. They have a range of products including medical devices, laboratory instruments, reagents, medical supplies, and diagnostic products. The company operates in three distinct segments – BD Medical, BD Diagnostics, and BD Biosciences.
BD Medical has had a presence in Ireland since 1969 and currently have three manufacturing sites and a research and development facility. Their site in Dun Laoghaire manufactures lines of pen needles for insulin injection while their Louth site manufactures a range of medical devices including a high-value pre-filled syringe.
8. Stryker Corp (US)
2017 Revenue: $12.40 billion
Number of Employees: 33,000
Revenue per Employee: $376,000
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 33,000 people worldwide.
Stryker has four plants across Ireland – three in Cork and one in Limerick. The Cork Instruments plant develops and surgical instruments and associated technology. The Stryker Orthopaedics sites in Cork and Limerick research and develop biomaterials as well as manufacturing knee and hip joints. Across these four sites, Stryker employs over 2,000 people.
7. Cardinal Health Inc (US)
2017 Revenue: $13.50 billion
Number of Employees: 49,800
Revenue per Employee: $271,000
Initially established in 1971 as Cardinal Foods, by 1994 the company had become Cardinal Health and established itself as one of the biggest wholesalers of pharmaceuticals in the USA. Cardinal Health now employs over 49,000 people around the world and their work now includes surgical products and laboratory supplies.
6. Siemens Healthineers (Germany)
2017 Revenue: $16.20 billion
Number of Employees: 48,000
Revenue per Employee: $338,000
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 48,000 people worldwide.
Siemens has over 600 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.
5. GE Healthcare (UK)
2017 Revenue: $19.10 billion
Number of Employees: 32,000
Revenue per Employee: $597,000
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 manufacture which is improving the visibility of structures in radiography processes. Approximately 600 people are employed within the Cork manufacturing site and products from this site are exported to over 70 countries worldwide.
4. Koninklijke Philips NV (Netherlands)
2017 Revenue: $20.90 billion
Number of Employees: 73,951
Revenue per Employee: $283,000
Philips is a technology company based in Holland 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. They employ over 37,000 people in 100 countries.
3. Fresenius Medical Care AG & Co. KGAA (Germany)
Revenue: $20.90 billion
Number of Employees: 273,249
Revenue per Employee: $77,000
Fresenius Medical Care is a German-based medical company with a particular specialty in renal dialysis. It was established in 1996 after a merger of two other companies but the Fresenius brand within medical products goes back to 1912. The company is involved with running dialysis clinics, as well as producing the medical equipment needed within the dialysis process. In 2014, 50% of dialysis machines sold were manufactured by Fresenius Medical Care. Their products are services are now available in 120 countries, while they employ more than 270,000 people in over 50 countries.
2. Johnson & Johnson (US)
2017 Revenue: $26.60 billion
Number of Employees: 134,000
Revenue per Employee: $199,000
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 operate 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 134,000.
Johnson & Johnson have 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.
1. Medtronic (Ireland)
Revenue: $29.70 billion
Number of Employees: 91,267
Revenue per Employee: $325,000
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 their scope. Globally, Medtronic employs over 91,000 people in over 160 countries.
Medtronic moved into Ireland in 1999 and now operate five facilities – two manufacturing sites in Galway, a manufacturing site in Westmeath and two office sites in Dublin. Their Galway sites employ over 2000 people and manufacture respiratory monitoring devices.
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