The Medtech Big 100 – The world’s largest medical device companies
UPDATE: The 2024 Medtech Big 100 is live now at Medical Design & Outsourcing
Each year, Medical Design and Outsourcing collects thousands of data points to rank and analyze the largest medical device companies in the world, including publicly traded companies and privately held firms.
The Medtech Big 100 includes annual revenue, R&D spending, headcount, CEOs and key leaders, headquarters locations and descriptions of each company.
Typically, we gather the data from regulatory disclosures filed with the U.S. Securities and Exchange Commission. Some companies, such as privately held firms, share data directly with us.
ANALYSIS: Sales grow, jobs decrease, R&D spending climbs
ANALYSIS: How does medtech CEO pay stack up to the rank and file?
A majority of these companies operate on a standard calendar year, but some have fiscal years for which we’ve collected data as recently as April 2023.
We used fiscal 2022 data for companies with fiscal years that end in June or September such as Accuray, Asahi Intecc, BD, Cardinal Health, Carl Zeiss Meditec, Cochlear, Electromed, Embecta, Hologic, ResMed and Siemens Healthineers because their annual reports don’t come out before production time.
Also note that companies that report their financial results in foreign currency have been converted to U.S. dollars using standardized Federal Reserve rates for the revenue ranking.
Medtech Big 100 movers and shakers
While the industry awaits the upcoming spinoffs of 3M Health Care and Baxter’s Vantive kidney care unit, completed spinoffs like Embecta , GE HealthCare and ZimVie have made their way into the 2023 Medtech Big 100. Last year, Zimmer Biomet’s dental and spine spinoff ZimVie was among the largest medical device companies at No. 69.
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Some medtech applications perform better than others each year, and oftentimes that can be apparent in how companies rank among the 100 year-over-year (see our Medtech Big 100 analysis for more). Notable changes this year include ICU Medical, which moved 10 spots up the list versus last year after its merger with Smiths Medical. Haemonetics also rose nine spots, having grown its revenues by 17%.
Most notably, Shockwave Medical, which is highlighted in our annual analysis, jumped 11 spots up the list. Inspire Medical, which didn’t make the list last year, is now at No. 94 as sales grow for its implantable sleep apnea devices.
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However, as the effects of the COVID-19 pandemic on medtech settle, some medical device companies have fallen to lower spots in the Medtech Big 100. Dräger’s medical division, which makes ventilators and other medical supplies, dropped nine spots. Fisher & Paykel Healthcare, which also develops respiratory care devices, dropped 10 spots down the list.
MORE: These companies just missed the Medtech Big 100 list
Click through the listings below to learn more about the companies powering the global medical device industry. – Senior Editor Danielle Kirsh