10. STRYKER
American multinational medical technology specialist, Stryker, takes tenth spot in 2020. With 43,000 employees worldwide, Stryker focuses on creating innovative solutions in orthopaedics, medical and surgical solutions, neurotechnology and spinal care that help improve patients’ conditions and hospital outcomes. Up until 2020, Stryker had experienced 40 straight years of growth, but with a reduction in medical procedures due to the Covid-19 pandemic, the company’s sales fell by 3.6% in 2020. In late 2020, Stryker acquired Wright Medical Group, a medical device company focused on extremities and biologics. Going forward, the acquisition has greatly enhanced the company’s position in trauma and extremities, providing significant opportunities to advance innovation and reach more patients.
9. CARDINAL HEALTH
With over 100 years’ of experience and 50,000 employees, Cardinal Health is widely recognised for providing pharmaceuticals, medical products and services that help healthcare providers. In the fiscal year 2021, Cardinal Health’s medical segment grew by a solid 8%, driven by the positive impact of PPE sales and higher volume sales for the lab business as a result of demand from the Covid-19 pandemic.
8. SIEMENS HEALTHINEERS
Siemens Healthineers remains in eighth place on the list of top medical device companies. Headquartered in Germany, Siemens Healthineers is the medical technology branch of automation and electrics conglomerate Siemens. The company’s revenue decreased slightly, with sales down by 3% at $17.0bn (€14.5bn) this was due to a decline for diagnostics, because of less routine testing appointments due to social restrictions put in place to manage the spread of Covid-19.

7. BECTON DICKINSON & COMPANY
Commonly referred to as BD, Beckton Dickinson & Company is an American multinational medical technology company that manufactures and sells medical devices, instrument systems, and reagents.


6. GE HEALTHCARE
A staple to the top 10 is leading global medical technology and life sciences company, GE Healthcare. With a broad portfolio of products, GE Healthcare is widely recognised for its imaging, ultrasound, software and life care solutions.


5. FRESENIUS MEDICAL CARE
German-based international healthcare company, Fresenius, takes fifth place in the list of top medical device companies. With over 300,000 employees in more than 100 countries, Fresenius Medical Care is the world’s largest provider for services and products for those with renal diseases.


4. PHILIPS
With over a hundred years in business, Philips is a diversified technology company. Philips’ health care division makes up 42% of their global revenue and is made up of three key areas: Diagnosis & Treatment, Connected Care, and Personal Health. In 2020, Philips’ health products and solutions delivered 6% year-on-year growth, with sales reaching $22.6bn (€19.1bn), positively impacted by a more favourable currency exchange rate. This was as a result of a stronger performance in the second half of the year, following a challenging first half due to the impact of Covid-19


3. ABBOTT
American multinational, Abbott, secures its place in the top 3 medical device companies this year. Founded over 130 years ago, Abbott is headquartered in Illinois and delivers medical devices and healthcare solutions to more than 160 countries. With 107,000 employees worldwide, the company is well known for creating breakthrough products in diagnostics, medical devices, nutrition and branded generic pharmaceuticals. Abbott’s medical devices and diagnostics divisions grew well, up 13% on a year-on-year basis


2. JOHNSON & JOHNSON
After a tough 2020, Johnson & Johnson takes the second spot again in 2021. J&J’s medical devices segment includes a wide range of products used in the orthopaedic, surgery, interventional solutions, and eye health fields. Medical devices worldwide declined by 12%, primarily driven by the negative impact of the Covid-19 pandemic and the associated delay of medical procedures to their surgery, orthopaedics, and vision businesses.


1. MEDTRONIC
Medtronic once again tops the list as the largest medical device company in the world. With a workforce of over 90,000, operating in 150 countries, Medtronic is at the forefront of medical technology. Although in 2020, Medtronic’s sales fell by 4%, results were consistent with the impact felt across the medical devices industry from deferred procedures as a result of the pandemic.

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