Top 40 Medical Device Companies

There has been a lot of change on medtech's leaderboard over the past 12 months. For a more recent ranking of medical device companies, download the free Medtech Insight’s MTI 100, the latest ranking of global medtech companies, prepared by Medtech Insight (a sister publication of MD+DI).

Rank

Company Name

Exchange Ticker

Exchange

2019 Revenue (mm)

Market Cap (mm)

1	Medtronic plc	MDT-US	NYSE	$30,891	$159,545
2	Johnson & Johnson	JNJ-US	NYSE	$25,963	$383,910
3	Abbott Laboratories	ABT-US	NYSE	$19,952	$157,393
4	General Electric Company	GE-US	NYSE	$19,942	$97,470
5	Fresenius Medical Care AG & Co. KGaA	FME-GER	XTRA	$19,264	$22,136
6	Becton, Dickinson and Company	BDX-US	NYSE	$17,290	$75,092
7	Siemens Healthineers AG	SHL-GER	XTRA	$16,090	$48,117
8	Cardinal Health Inc.	CAH-US	NYSE	$15,749	$14,790
9	Koninklijke Philips N.V.	PHIA-NED	ENXTAM	$14,738	$44,668
10	Stryker Corporation	SYK-US	NYSE	$14,549	$79,436
11	Baxter International Inc.	BAX-US	NYSE	$11,080	$45,812
12	Boston Scientific Corporation	BSX-US	NYSE	$10,392	$61,719
13	Zimmer Biomet Holdings, Inc.	ZBH-US	NYSE	$7,928	$30,725
14	EssilorLuxottica S.A.	EL-FRA	ENXTPA	$7,813	$65,411
15	3M Company	MMM-US	NYSE	$7,431	$101,450
16	Olympus Corporation	7733-JPN	TSE	$7,273	$20,569
17	Danaher Corporation	DHR-US	NYSE	$6,562	$117,419
18	Terumo Corporation	4543-JPN	TSE	$5,644	$27,000
19	Smith & Nephew plc	SN-UK	LSE	$4,949	$21,453
20	Intuitive Surgical, Inc.	ISRG-US	NasdaqGS	$4,247	$69,348
21	Edwards Lifesciences Corporation	EW-US	NYSE	$4,152	$49,773
22	Alcon Inc.	ALC-CH	SWX	$4,035	$30,916
23	Canon Inc.	7751-JPN	TSE	$4,034	$29,256
24	DENTSPLY SIRONA, Inc.	XRAY-US	NasdaqGS	$3,997	$12,590
25	HOYA Corporation	7741-JPN	TSE	$3,524	$36,156
26	Hologic, Inc.	HOLX-US	NasdaqGS	$3,367	$14,386
27	Varian Medical Systems, Inc.	VAR-US	NYSE	$3,225	$13,546
28	Nipro Corporation	8086-JPN	TSE	$3,011	$1,973
29	Sonova Holding AG	SOON-CH	SWX	$2,978	$15,349
30	Hill-Rom Holdings, Inc.	HRC-US	NYSE	$2,907	$7,750
31	STERIS plc	STE-US	NYSE	$2,898	$13,068
32	bioMérieux S.A.	BIM-FRA	ENXTPA	$2,801	$11,479
33	Envista Holdings Corporation	NVST-US	NYSE	$2,790	$5,082
34	Getinge AB	GETI B-SWE	OM	$2,726	$5,139
35	Sysmex Corporation	6869-JPN	TSE	$2,726	$14,863
36	ResMed Inc.	RMD-US	NYSE	$2,699	$23,088
37	Coloplast A/S	COLO.B-DEN	CPSE	$2,695	$26,376
38	The Cooper Companies, Inc.	COO-US	NYSE	$2,653	$15,760
39	Teleflex Incorporated	TFX-US	NYSE	$2,556	$17,765
40	Align Technology Inc.	ALGN-US	NasdaqGS	$2,406	$21,990

Sources: S&P Capital IQ, Factset, Company Filings, XE.com

All financial market data is as of December 31, 2019, and is priced in US Dollars (USD). Revenue and market capitalization are both quoted in millions of US dollars.

All non-USD denominated revenues have been translated into US Dollars from the respective reporting currency at the average historical rate.

Stock Exchange Legend

Exchange Key
Australian Securities Exchange	ASX
Borsa Italiana	BIT
Copenhagen Stock Exchange	CPSE
Euronext Amsterdam	ENXTAM
Euronext Brussels	ENXTBR
Euronext Paris	ENXTPA
JASDAQ Osaka Securities Exchnage	JASDAQ
Kosdaq Korea Exchange	KOSDAQ
London Stock Exchange	LSE
Nasdaq Capital Market	NasdaqCM
Nasdaq Global Market	NasdaqGM
Nasdaq Global Select Market	NasdaqGS
New York Stock Exchange	NYSE
New Zealand Exchange	NZSE
Nasdaq Nordic Sweden	OM
Hong Kong Stock Exchange	SEHK
Shanghai Stock Exchange	SHSE
SIX Swiss Exchange	SWX
Shenzhen Stock Exchange	SZSE
Tokyo Stock Exchange	TSE
Toronto Stock Exchange	TSX
Frankfurt Xetra Exchange	XTRA

Additional Notes:

Ticker	Company Name	Additional Notes
ABT-US	Abbott Laboratories	Revenues Include only Diagnostics and Medical Device Segment
JNJ-US	Johnson & Johnson	Revenues Include only Medical Device Segment
GE-US	General Electric Company	Revenues include only the Healthcare segment.
CAH-US	Cardinal Health, Inc.	Revenues include only the Medical segment.
ALC-AH	Alcon Inc.	Revenues inlcude only Surgical segment
MMM-US	3M Company	Revenues include only the Healthcare segment.
7751-JPN	Canon Inc.	Revenues include only Medical Systems Unit
VREX-US	Varex Imaging Corporation	Revenues include on the Medical Segment
DHR-US	Danaher Corporation	Revenues Include only only Diagnostics Segment
ITGR-US	Integer Holdings Corporation	Revenues include only the Medical segment.
PHIA- NED	Koninklijke Philips N.V.	Revenues exclude Personal Health segment
6376-JPN	Nikkiso Co., Ltd.	Revenues include only the Medical segment.
DRW3-GER	Drägerwerk AG & Co. KGaA	Revenues include only the Medical segment.
8086-JP	Nipro Corporation	Revenues include only the Medical Equipments segment.
AFGB-BEL	Agfa-Gevaert NV	Revenues include only Healthcare segment for Q4 2018, and Radiology Solutions and Healthcare IT for Q1-Q3 of FY 2019
PHH2-DE	PAUL HARTMANN AG	Revenues exclude the Other Activities segment.
7741-JPM	HOYA Corporation	Revenues Include only Life Care segment
EL-FRA	EssilorLuxottica S.A.	Revenues include Essilor's Lenses & Optical Instruments and Equipment segments

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