In this article, we are going to list the 5 largest medical device companies in the world. For detailed coverage of this topic and a more comprehensive coverage please take a look at the 15 largest medical device companies in the world.
5. Abbott Laboratories (NYSE:ABT)
Revenue: $32.1 B
Market Cap: $187.6 B
Assets: $66.8 B
Number of Employees: 107,000
Headquarters: Illinois, US
Abbott Laboratories is a US-based international medical tech company specializing in medical devices, diagnostic solutions, nutrition, and branded generic pharmaceuticals. The first HIV blood screening test was developed by the company in 1985. Abbott has developed and designed eight COVID-19 tests, all of which have obtained U.S. Emergency Use Authorization from the FDA.
In one of our articles, Baron Health Care Fund highlighted why you should consider investing in a healthcare company such as Abbott Laboratories (NYSE:ABT):
“Global medical device company Abbott Laboratories contributed to performance on increased sales of diagnostic products used for COVID-19 diagnosis. Abbott also received FDA approval of Libre 2.0, its glucose monitoring device for patients with diabetes. We continue to believe Abbott has the ability to generate solid long-term growth driven by multiple areas of its business.”
Courtesy of Abbott Labs
4. Fresenius Medical Care
Revenue: $39.6 B
Market Cap: $23.8 B
Assets: $75.2 B
Number of Employees: 294,134
Headquarters: Bad Homburg, Germany
Fresenius Medical Care is a German healthcare company offering dialysis medical equipment and services, as well as inpatient and outpatient medical care to hospitals. A global network of about 4,000 dialysis clinics is also supported by Fresenius. Fresenius described COVID-19 as the driving force behind the growth in its critical care sector. The production of acute dialysis machines increased by 230% in response to the pandemic.
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3. Johnson & Johnson (NYSE:JNJ)
Revenue: $82.8 B
Market Cap: $414.31 B
Assets: $155 B
Number of Employees: 130,000
Headquarters: New Jersey, US
Founded in 1886 with the initial idea that wounds should be treated and dressed using sterile equipment, Johnson & Johnson has become not only one of the largest healthcare companies in the world today but also one of the most profitable. The company specializes in areas of orthopedic, cardiovascular, diabetes, vision care, and surgery. In March 2020, Johnson and Johnson launched a partnership with the US Department of Health and Human Services with an aim to roll out vaccines in January 2021. Johnson and Johnson are in phase 3 of their COVID-19 vaccine candidate, which will assess the safety and efficacy of up to 60,000 participants, including diverse individuals disproportionately affected by COVID-19.
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2. Siemens Healthineers
Revenue: $97.4 B
Market Cap: $75.4 B
Number of Employees: 54,000
Assets: $171 B
Headquarters: Munich, Germany
Siemens is a global tech company based in Germany and is the largest engineering company in Europe in the energy, industry, and healthcare sectors. Siemens Healthineers specializes in the production of medical imaging, clinical IT, and laboratory diagnostics tools. In response to COVID-19, Siemens Healthineers developed CLINITEST Rapid COVID-19 antigen test. An easy-to-use visual reading test that does not require the administration of laboratory instruments or specialized laboratory personnel and delivers results in 15 minutes.An easy-to-use visual reading test that does not require the administration of laboratory instruments or specialized laboratory personnel and delivers results in 15 minutes.
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1. Cardinal Health (NYSE:CAH)
Revenue: $149.7 B
Market Cap: $15.72 B
Assets: $41 B
Number of Employees: 50,000
Headquarters: Ohio, US
Topping the list of the 5 largest medical devices companies in the world is Ohio-based Cardinal Health with reported revenue of $149.7 billion in 2019. Cardinal Health is a Fortune Global 500 company and is the largest medical devices company and one of the biggest pharmaceutical firms in the world. Cardinal Health provides tailored solutions for hospitals, health systems, pharmacies, outpatient surgery centers, clinical laboratories, and medical offices all over the world.
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