The Largest Medical Device Companies in the United States

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The medical device industry is one of the most profitable and largest industries in existence. These massive firms develop and build a wide array of medical devices such as CAT scan machines, x-ray machines, and precision laser surgical devices. These companies aid hospitals and provide top of the line medical equipment allowing doctors to help patients like never before. We are going to take a look at some of the biggest and largest medical devices companies in the United States based on market capital.

5. Stryker Corporation – Market Capital: $30.52 Billion

Located in Kalamazoo, Michigan the first company on our list is the Fortune 500 Stryker Corporation. Founded in 1941 under the name “The Orthopedic Frame Company”, which eventually changed its name to Strkyer, Stryker created a mobile hospital bed that allowed patients to be easily transported without sustaining unnecessary trauma. Stryker specializes in designing and engineering products to be used in various joint replacement surgeries, endoscopic devices, mobile stretchers and beds, and assisted computer surgical devices.

4. Medtronic, Inc. – Market Capital: 63.23 Billion

Coming in at number 4 on our list is Medtronic Incorporated, which is the fourth largest manufacturer of medical devices in the world.   Founded in 1949 by Earl Bakken and his brother-in-law in a small garage, Medtronic rose to success with the first portable, battery operated pacemaker. Medtronic today makes cardiovascular devices, spinal implants and spinal surgical devices, insulin pumps/diabetic machines, and precision surgical devices.

3. Abbott Laboratories – Market Capital: 63.4 Billion

Founded in 1888 by Dr. Wallace Calvin Abbott in Chicago, Abbott Laboratories  appears at number 3 on our list of these medical device giants. Operating in over 130 different countries around the world, Abbott is known for developing the first HIV blood screening test in 1985. Abbott Laboratories produces a wide array of cardiovascular, diabetic, and vision medical devices in addition to producing a variety of pharmaceutical drugs. The also produce medical devices for veterinarians as well.

2. General Electric – Market Capital: 259.18 Billion

This massive multinational American based conglomerate produces and engineers a wide range of electric appliances; General Electric nearly makes everything. From refrigerators to jet engines, GE really does it all including medical devices. With their main headquarters located in Fairfield, Connecticut General Electric comes in at number 2 on our list. With regards to medical devices, GE produces mammogram machines, anesthesia delivery systems, CT scanners, X-ray devices, hemodynamic monitoring devices, ultrasound machines, surgical imaging devices, radiography machines, and molecular imaging devices. The list is really endless with GE, making it no surprise as to why they are so high up on our list.

1. Johnson & Johnson – Market Capital: 286.94 Billion

Coming in at number 1 on our list with strong brand recognition, is Johnson & Johnson. This massive American based multinational producer of medical devices, pharmaceutical goods, and consumer goods produces and sells a large range of products, much like GE. Founded in 1886 by the three Johnson brothers, Johnson & Johnson is the leader in the medical device and pharmaceutical industry. Johnson & Johnson produces orthopedic devices, cardiovascular and coronary artery systems, neurovascular machines, diabetic and insulin delivery systems, glucose monitoring devices, various diagnostic machines, precision surgical devices, and ENT machines. Their impressive medical device line combined with their other various consumer and pharmaceutical products places them at number one on our list with such a strong market capital.

(Financial data taken on 8/13/14)

Photo by Kevin H. Tierney

Written by Sebastian Hensiek

From Philadelphia, Sebastian is a fan of music, writing, art, and entertainment.