The top medical technology companies globally include big name companies such as General Electric, Philips and Medtronic. As of 2021, the leading medical technology company based on market share was Medtronic (U.S.). At that time Medtronic held 5.8 percent of the overall medical technology market. The company’s hold on medical technology is projected to increase slightly to 5.9 percent by 2024.
Medical technology industry
The global medical technology industry includes different types of technology that are broadly categorized as medical devices, in vitro diagnostics and digital health solutions. The total medical technology revenue has been increasing in recent years and is expected to increase dramatically by the year 2024. Research and development in the industry is also gaining ground and has experienced some of the largest growth in spending from 2015 to 2016, with significant growth expected in the future.
Company spotlight: Medtronic
Among the various medical technology companies, Medtronic is among the top in many measures. Medtronic produces medical products and devices for cardiac and vascular disease, minimally invasive therapies, restorative therapies and diabetes. In 2017, Medtronic was the top medical technology company among those that produce cardiac devices. The company beat out other competitors such as Abbott and Boston Scientific by a significant percentage of the market share. Medtronic’s total revenue worldwide has been increasing significantly in recent years and in the company’s fiscal year 2022 had reached an all time high.
Top 20 companies based on medical technology revenue market share in 2021 and 2028
Statistic is based on the top 300 medtech companies. Sales in 2021 based on company reported data. Sales forecasts to 2028 based on a consensus of leading equity analysts’ estimates for segmental sales.
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Evaluate. (June 20, 2022). Top 20 companies based on medical technology revenue market share in 2021 and 2028 [Graph]. In Statista. Retrieved October 03, 2022, from https://www.statista.com/statistics/329035/global-medtech-market-share-of-top-20-companies/
Evaluate. "Top 20 companies based on medical technology revenue market share in 2021 and 2028." Chart. June 20, 2022. Statista. Accessed October 03, 2022. https://www.statista.com/statistics/329035/global-medtech-market-share-of-top-20-companies/
Evaluate. (2022). Top 20 companies based on medical technology revenue market share in 2021 and 2028. Statista. Statista Inc.. Accessed: October 03, 2022. https://www.statista.com/statistics/329035/global-medtech-market-share-of-top-20-companies/
Evaluate. "Top 20 Companies Based on Medical Technology Revenue Market Share in 2021 and 2028." Statista, Statista Inc., 20 Jun 2022, https://www.statista.com/statistics/329035/global-medtech-market-share-of-top-20-companies/
Evaluate, Top 20 companies based on medical technology revenue market share in 2021 and 2028 Statista, https://www.statista.com/statistics/329035/global-medtech-market-share-of-top-20-companies/ (last visited October 03, 2022)