Annual industry ranking and forecast
Medtech Insight’s Top 100 league table is based on FY 2019 sales data for the top 100 publicly traded medtech manufacturers. In this latest ranking, Medtronic tops the table with sales of $29bn. Explore the full data set below.
2019 saw fewer revenue-boosting major acquisitions by top-tier medtechs. Companies that reported after the calendar year-end were the first to see the consequences of the pandemic on their annual figures.
The order of the leading five cardiology companies remained unchanged in 2019, but Medtronic’s 2019-20 year was COVID-impaired, and its sales dipped in what became a pattern for much of the industry as 2020 unfolded. Abbott Laboratories remained the second largest cardiology company (our listing excludes its vascular – coronary and endovascular – device sales). Noteworthy was Edwards Lifesciences, whose TAVR products boosted its overall sales by 16.6%. Just outside the leading five, Johnson & Johnson made $3bn in sales of interventional devices.
The leading four global arthroplasty companies continued to dominate the orthopedic rankings in 2019, but industry number one DePuy Synthes’ flat sales meant that some of its lead was eroded. Zimmer Biomet was unable to make serious inroads into it, with just a low single-digit sale rise. Third-placed Stryker caught the eye, with an 8.6% sales jump in 2019. Medtronic’s spine sales were COVID-19-affected in the 2019-20 performance shown in our tables.
Currency effects turned a marginal 2019 sales rise in Swiss francs into a marginal fall in US dollars for diagnostics leader Roche. A 6% rise in core lab sales, to $4.7bn, saw second-ranked Abbott Laboratories gain some ground on the industry leader. Siemens Healthineers shouldered the biggest COVID-19 impact on its sales performance, its 2019-20 financial year to 30 September reflecting coronavirus impaired sales for more than six months. More than the other industry segments, the IVD industry has a long tail of $1bn+ revenue earners.
Among the medical imaging majors, GE Healthcare’s sales were $238m lower in 2019, and second-placed Siemens Healthineers had a COVID-19 affected sales fall of $274m, while third-placed Royal Philips increased its diagnosis and treatment division sales by $1bn in 2019. In 2020, that part of its business was hit by the pandemic. Two Japanese groups, Fujifilm (based on “health care” sales) and Canon Medical Systems made up the global top five in our 2019 rankings. Olympus Medical Systems remained the sixth largest imaging company, with $3.2bn sales.
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