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Top 10 Best Medical Device Companies in the World in 2022
American international medical innovation expert Stryker ranked tenth in 2020. With 43,000 employees worldwide, Stryker is focused on delivering innovative solutions in the fields of orthopaedic surgery, medical and surgical services, neurotechnology and back care that help improve client conditions and health center outcomes. Stryker has enjoyed 40 consecutive years of growth through 2020, but the company's sales fell 3.6% in 2020 due to fewer medical services due to the COVID-19 pandemic. In late 2020, Stryker acquired Wright Medical Group, a medical device company focused on extremities and biologics. Going forward, the acquisition actually greatly enhances the business' position in the disability and extremities space, providing a wealth of opportunities to advance innovation and reach more customers.
9. Cardinal Health Group
With more than 99 years of experience and 50,000 employees, Cardinal Health is widely recognized for delivering medicines, medical products and services to help healthcare providers. In 2021, Cardinal Health's medical segment grew 8%, driven by the positive impact of personal protective equipment sales and higher volumes by laboratory companies driven by COVID-19 demand. Going forward, the business is expected to see steady growth in 2022, assuming optional treatments return to pre-COVID levels. Outside of Covid-19, the company just recently announced that it has virtually completed the sale of the Cordis organization and remains committed to focusing on its key product portfolio and technology development investments.
8. Siemens Healthcare
Siemens Healthcare ranks eighth among the top medical device companies. Headquartered in Germany, Siemens Healthineers is the medical innovation arm of Siemens Automation and Electrics. Profits at the business fell, with sales down 3 percent to $17 billion (14.5 billion euros). This is due to lower diagnostic costs as social restrictions put in place to control the spread of the Covid-19 virus reduce routine testing consultations. There are similar small developments in imaging and advanced therapy. In imaging, computed tomography in particular has reported very strong growth, as CT scans have become very important in the management of COVID-19 positive patients. Continuing to advance, the company continues to advance its digital improvements and remains committed to supporting physicians as they expand precision medicine, transform healthcare delivery and improve customer experience.
7. Becton Dickinson & Company
Beckton Dickinson & Business, commonly known as BD, is an American international medical innovation company that manufactures and sells medical devices, instrumentation systems and reagents. BD's revenue was down slightly (-1%) on sales of $17.1 billion; this was due to the unfavorable impact of the COVID-19 pandemic, which severely disrupted health services. The company also needs to invest a fortune to pay for repairs to its troublesome Alaris infusion pump. However, the business recovered in the fourth quarter due to the notable success of BD life sciences, Integrated Diagnostic Services establishing innovative COVID-19 screening. Going forward, BD is driving growth by building a robust portfolio of innovations that address unmet medical needs, developing options for critical and non-acute settings, and delivering solutions that meet the needs of patients at home, in the health center or anywhere. market product.
6. GE Healthcare
GE Healthcare, the world's leading medical technology and life sciences business, is one of the 10 Greatest Companies. With a broad product portfolio, GE Health care is widely recognized for its imaging, ultrasound, software and life care options. In 2020, sales fell 10.1% due to the personality of the biopharmaceutical company, now known as Cytiva, which makes medical devices to support the biotech industry. However, Life Care Services performed well, with production of the Carescape R860 ventilator quadrupling and production of other innovative products for Covid 19 medical diagnosis and treatment increased. In its annual letter to shareholders, CEO H. Lawrence Culp Jr. commented: "Healthcare has grown organically in revenue and delivered strong profits and funding performance in 2020. Through everything, we invest in the future, launching 40 Multiple new products and acquisitions of prismatic sensing units focused on photon-counting CT technology. Healthcare remains focused on advanced imaging innovations, led by digital technologies.”
5. Fresenius Healthcare
Fresenius, a global healthcare company headquartered in Germany, is ranked fifth in the list of leading medical device companies. With more than 300,000 employees in more than 100 countries, Fresenius Therapeutics is the world's largest provider of kidney disease products and services. In 2020, Fresenius Therapeutics sales rose 2%, with earnings reaching $21 billion (€17.9 billion). Despite the hurdles of the pandemic, Fresenius Medical Center is able to provide more dialysis treatment to patients at home. In 2020, the company offered their 2025 strategy, centered on products and healthcare services, and planned to focus on 3 essential areas: renal care continuum, vital care solutions, and complementary properties.
Philips is a diversified technology company with a history of more than a century. Philips' healthcare segment, which accounts for 42% of its global revenue, consists of three fundamental areas: diagnostics, connected care and personal health. In 2020, Philips' health products and solutions achieved 6% year-on-year growth with sales of $22.6 billion (19.1 billion euros), positively impacted by more favorable currency exchange rates. This is because the second half of the year was more efficient after facing challenges in the first half due to the impact of Covid-19. For Diagnosis and Treatment, sales were down, diagnostic imaging was weaker, and image-guided therapy and ultrasound were down.
Connected care grew well, with monitoring and analytics and sleep and respiratory care showing strong performances, driven primarily by demand from COVID-19. In a letter to other shareholders, Chief Executive Officer John Van Houten commented: "Progress over the past year validates our technology in innovative care delivery across the health continuum - customer-centricity, improved diagnosis and treatment pathways, Enabling the integration of care across the care environment and improving the efficiency of care providers. At the same time, we help consumers live healthier lives and manage chronic diseases. We are increasingly able to connect homes and hospitals through telehealth platforms care. This technology resonates like never before.”
U.S. multinational Abbott has cemented its position among the top three medical device companies this year. Founded more than 130 years ago and headquartered in Illinois, Abbott provides medical equipment and healthcare services to more than 160 countries. The company employs 106,000 people worldwide and is popular for producing breakthrough products in diagnostics, medical devices, nutrition and branded generics. Abbott's Medical Devices and Diagnostics segment grew well, up 13% year over year.
Abbott played an integral role in creating diagnostic tests in the early stages of the COVID-19 pandemic and making them available globally. Outside of COVID-19, other locations continue to grow with the launch of a new range of medical devices, including the next-generation MitraClip repair work device and the Tendyne device, which replaces entire valves for customers that cannot be repaired, and the FreeStyle Libre 3 system, which is an all-time Thinnest, most discreet glucose sensing device ever. Going forward, Abbott is poised to address not just the medical challenges faced by their products, but also the hard-to-access and affordability issues.
2. Johnson & Johnson
After a rough 2020, Johnson & Johnson is again in second place in 2021. J&J's Medical Devices segment includes a variety of products used in orthopedic, surgical, interventional and eye health applications. Global medical devices declined 12%, mainly due to the adverse impact of the COVID-19 pandemic and related obstacles to medical procedures for its surgical, orthopedic and vision businesses. This decline was partially offset by growth in interventional solutions services led by electrophysiology programs.
In a press release, Chairman and President Alex Gorsky noted, "We are very pleased with the remarkable capabilities of the end-to-end digital surgical treatment ecosystem, while developing three separate robotic procedures, and the recent FDA approval of our development for This is a considerable inflection point for the Velys robotic assistance service that coordinates the overall knee system. Our business is just beginning to unleash the full capabilities and benefits of these robotic and digital innovations—the same company that assisted leader sterilization 135 years ago is now Get ready to lead the way.
In addition, Medtronic once became the world's largest medical device company. With more than 90,000 employees in 150 countries, Medtronic is a leader in medical innovation. While Medtronic's sales fell 4% in 2020, this result comes after the entire medical device industry was hit by delayed treatment due to the pandemic.
Continuing to drive therapeutic innovation, Medtronic's pipeline remains strong with several current approvals and delayed product launches. Despite Covid-19, Micra VR and Micra AV — the world’s smallest pacemaker for bradyarrhythmia control — were released and developed well in the US. Going forward, the company will continue to focus on buying innovations to keep its industry-leading pipeline of development innovations open. They also made a series of acquisitions, including Digital Surgical Therapeutics, Medicrea and Buddy Medical, which will help them drive continued growth in the future
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