Top 10: Medical Devices Companies

A medical device is any kind of instrument, software or system that can be used for many healthcare purposes, such as diagnosing, preventing, monitoring or treating disease.

They can range from simple devices like bandages or walking aids to more complex devices like X-rays or surgical robots.

MedTech and healthcare companies work to develop and manufacture devices to help doctors and scientists treat diseases.

Healthcare Digital has created a list of the top 10 global medical devices companies, ranked by market capitalisation.

10. Siemens Healthineers

Market cap: US$58.3bn
CEO: Dr Bernd Montag
HQ: Erlangen, Germany

Siemens Healthineers, which was spun off from its parent company Siemens in 2017, is a leading MedTech company which specialises in diagnostic and therapeutic imaging.

It develops medical imaging devices to support healthcare professionals in many areas, including MRIs, X-rays, ultrasound machines and radiography equipment.

Siemens Healthineers also focuses on molecular imaging, with PET/CT scanners built for patient experience and new research opportunities.

Its newest PET/CT model is powered by AI-guided workflows that provide fast and consistent results, allowing medical professionals to make accurate diagnostic judgements.

9. Medtronic

Market cap: US$124.3bn
CEO: Geoff Martha
HQ: Dublin, Ireland

In 2020, Medtronic launched its InPen with integrated real-time data, providing glucose readings alongside insulin dose information to help people manage their diabetes.

InPen was the first FDA-cleared smart insulin pen on the market for people on multiple daily injections of glucose.

Sean Salmon, EVP and President of Cardiovascular and former President of Diabetes at Medtronic, says: “We’re strongly committed to delivering solutions that make life easier for people living with diabetes.

“We’re pleased to build on the success of InPen with added real-time glucose data which provides a complete picture for users.”

8. Stryker Corporation

Market cap: US$138.2bn
CEO: Kevin Lobo
HQ: Kalamazoo, Michigan, US

Stryker impacts more than 150 million patients annually, providing medical and surgical equipment including bed frames, power tools and surgical suction devices.

Its power tools are designed for reliability and performance in the operating room, featuring a range of drill and saw attachments for different purposes.

The company also develops a console to go alongside the power tools, which can be used to customise the sensitivity of the drill.

The console can be operated by foot pedals, allowing one surgeon to operate it alone while maintaining a sterile environment.

7. Boston Scientific

Market cap: US$141.9bn
CEO: Mike Mahoney
HQ: Marlborough, Massachusetts, US

Boston Scientific is known for developing the Taxus Stent, which uses a copolymer matrix with the hydrophobic drug paclitaxel to provide controlled drug release over a period of time.

This is placed in a blocked coronary artery, with a balloon expanding the stent to keep the artery open.

The stent’s coating releases the drug over time, which stops cells from growing too quickly, preventing the artery from narrowing again.

Boston Scientific also produces other medical devices, including pacemakers, defibrillators, endoscopy devices and urology tools.

6. Danaher Corporation

Market cap: US$168.8bn
CEO: Rainer Blair
HQ: Washington, D.C., US

As a global life sciences and diagnostics company, Danaher is committed to using science and technology to improve human health.

It has acquired many healthcare organisations, some of which are developing bioanalytical systems and tools.

For example, Danaher’s business Molecular Devices offers solutions for screening, genomic analysis and drug discovery.

Rainer Blair, CEO of Danaher, says: “Our culture of continuous improvement enables us to solve problems and deliver innovation for our customers, invest strategically and accelerate our growth, ultimately improving quality of life for billions of people today, while setting the foundation for a healthier, more sustainable tomorrow.”

5. Intuitive Surgical

Market cap: US$203bn
CEO: Dave Rosa
HQ: Sunnyvale, California, US

Intuitive Surgical specialises in making robotic-assisted surgical systems, aiming to advance minimally invasive care.

Its da Vinci robotic systems are made up of robotic arms that can hold surgical instruments, which are remotely operated by a surgeon through a vision system which produces a realistic 3D image.

The da Vinci robots use first-of-its-kind Force Feedback technology, which allows surgeons to sense push and pull forces through the robotic instruments.

During simulated tasks, Intuitive found that surgeons in training made fewer errors, performed faster and with less trauma to tissue when using Force Feedback technology.

4. Abbott Laboratories

Market cap: US$216.7bn
CEO: Robert Ford
HQ: Chicago, Illinois, US

Abbott Laboratories offers medical solutions such as biowearables, diagnostics testing and diabetes care.

One of its most popular devices is the FreeStyle Libre range of products, which are continuous glucose monitors (CGMs).

CGMs are small sensor-based systems that provide real-time glucose readings 24 hours a day, allowing people with diabetes to effectively manage their symptoms.

The FreeStyle Libre systems are easy to apply and can be worn for up to 15 days, as well as being the world’s smallest sensor, worn on the back of the upper arm.

3. Thermo Fisher Scientific

Market cap: US$231.2bn
CEO: Marc Casper
HQ: Waltham, Massachusetts, US

While specialising in life science and clinical research, Thermo Fisher Scientific supplies analytical instruments and laboratory equipment to healthcare professionals.

It provides rapid PCR platforms, which can be used to quickly diagnose infections such as COVID-19.

The company also produces In Vitro Diagnostics (IVD) systems, which are designed to separate and identify compounds like drugs or biomarkers in patient samples.

Marc Casper, CEO of Thermo Fisher Scientific, said on LinkedIn: “Incredible strides are being made in our understanding of disease and in the development of novel therapies, and rapidly evolving AI and digital technologies are transforming the future of drug discovery and clinical development.

“This is an area where Thermo Fisher continues to invest so we can help our customers achieve their goals – faster and more cost-effectively.”

2. Roche

Market cap: US$342.9bn
CEO: Thomas Schinecker
HQ: Basel, Switzerland

Roche’s diagnostics division provides tests, instruments and digital solutions for healthcare professionals and patients.

It develops and manufactures in vitro tests for the diagnosis of many diseases, including cancer, diabetes, COVID-19, hepatitis and human papillomavirus.

Using Roche’s tests and instruments, samples can be analysed quickly and directly within a physician’s office, which makes diagnosis cheaper and less time-consuming.

It also produces large analysis modules, which can allow for hundreds of samples to be analysed at the same time.

These analytical laboratory systems are fully automatic, which reduces the opportunity for error and is highly efficient.

Some of Roche’s tests come in the form of test strips and do not require any instruments for diagnosis, instead of the testing devices.

1. Johnson & Johnson

Market cap: US$505.3bn
CEO: Joaquin Duato
HQ: New Brunswick, New Jersey, US

Johnson & Johnson’s MedTech company provides medical devices and technology solutions in the cardiovascular, orthopaedics, surgery and vision fields.

The company has announced its OTTAVA Robotic Surgical System, which has been submitted to the US FDA for classification.

The system can be used for procedures in general surgery within the upper abdomen, such as gastric bypass, gastric sleeve, small bowel resection and hiatal hernia repair.

In late 2025, the company began a clinical trial for OTTAVA in inguinal hernia procedures, which is one of the most common surgeries in the US.

Hani Abouhalka, Company Group Chair, Surgery, Medtech at Johnson & Johnson, says: “We have taken learnings from Johnson & Johnson’s 140 years in surgery, our decades of leadership in minimally invasive surgery and the experiences robotic surgeons and hospitals have had over the past 20 years to design a soft tissue robotic system built for the future of surgery.”