The medical device industry is a crucial and fast growing arm of the life sciences industry. Medical device companies produce a wide array of products such as diagnostics, surgical instruments, wheelchairs and cardiac devices which are used extensively in hospitals and other healthcare facilities. In recent times, many medical device companies have made technological advancements and grown exponentially. Despite the heavy regulation and financial pressures on the industry, the market keeps increasing worldwide. The industry is currently valued at $389 billion and according to Kalorama Information; the global medical device market will reach $483.8 billion in 2022.
Medtronic is a global leader in medical technology, services, and solutions. With a total revenue of $29.7billion in 2017, Medtronic is the top-selling medical device company. Medtronic medical equipment are categorised into four groups; Cardiac & Vascular group ($10,498million, 3%); Minimally Invasive therapies group ($9,919million, 4%) and Diabetes group ($1,927million, 3%).
2) DEPUY SYNTHES
DePuy Synthes is a subsidiary company of Johnson & Johnson. DePuy Synthes produces various medical devices. Its 2017 revenue totaled $26.6billion, a 5.9% increase of its 2016 revenue. The major market drivers are the Surgery ($9,559million, 2.8%), Orthopaedic ($9,258million, -0.8%) and Vision Care segments ($4,063million, 45.9%).
3) FRESENIUS MEDICAL CARE
Fresenius Medical care is the world largest medical device company addressing specifically Chronic Kidney Failure. The company provides products and services for dialysis and cater to the needs of over 320,000 patients worldwide. With a total revenue of $20,9billion (€17.8billion), the company has ingrained its place as a leader in the global dialysis market.
Fresenius reported a 7% increase in sales in 2017 primarily offset by high sales of dialyzers and other dialysis products and also the acquisition of Cura Day hospitals in April 2017 thus expanding the network to around 40 outpatient facilities in Australia.
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