Companies able to use technological advancements to make medical devices more intelligent, faster, and cost effective have made great strides in the industry. Breakthrough advancements have improved patient monitoring, safety and outcomes, reduced recovery time, and prevented costly complications.
Although U.S. companies make up more than half of the listing of the top 100 medical device companies, the proliferation of international giants shows that the industry is generating more profits from global outreach efforts. Emerging medical device markets are anticipated to grow at much faster rates than the United States in the years to come. China and India are forecasted to generate double-digit annual growth during the next five years due to their manufacturers' ability to develop quality devices at a lower cost.
The Johnson & Johnson family of businesses remains the world's largest and most diverse medical device and diagnostic company. During 2010, Johnson & Johnson increased its medical device and diagnostics sales by 4.4% to $24.6 billion and generated $22.4 billion in pharma sales, serving as an example of the significant connect between medical device manufacturers and pharmaceutical companies. Major medical device companies under the Johnson and Johnson umbrella include Animas Corp., Cordis Corp., DePuy Inc., LifeScan Inc., Ortho-Clinical Diagnostics Inc., and Virco BVBA.
GE Healthcare and Siemens Healthcare remain among the top three companies according to 2010 revenue, swapping ranks compared to 2009 revenue. Ranked No. 2, GE Healthcare is a $17 billion unit of General Electric Company with headquarters in the United Kingdom. GE Healthcare offers PET/CT, MR, mammography, and ultrasound products in oncology and other areas with its molecular imaging products.
Siemens Healthcare, part of the global conglomerate Siemens AG, is a worldwide leader in hearing instruments, manufacturing one-fifth of all hearing aids sold in the United States. Siemens Healthcare revenue in 2010 totaled $16.4 billion.
More information is available in Top 100 Medical Device Companies 2011, located at www.pharmalive.com/specialreports.