With the advancement of technology, many industries are beginning to incorporate technology into their practices to expand the scope of their work. Numerous businesses have greatly benefited from this. The medical industry is one of them.
The medical field has helped save many lives and serve quick cures for illnesses because of technological advances. There’s a team behind the equipment that has created these devices.
Let’s take an overview of the best-known manufacturers of medical injection molding in the world that have created cutting-edge medical equipment and made it into the top 10.
Johnson & Johnson
Johnson & Johnson comes in as number 2 in the rankings with an overall $22.95B in revenues. It was founded in 1886. Johnson & Johnson has over 250 affiliates and is present in more than 60 nations. DePuy Synthes is one such division that specializes in medical devices.
Johnson & Johnson sells a range of medical devices for orthopedics that cover joint reconstruction and trauma, the extremities, craniomaxillofacial and spinal surgery, and sports medicine. They also have the surgical, cardiovascular as well as vision departments.
Integra LifeSciences
Integra LifeSciences, headquartered in Princeton, New Jersey, is an internationally recognized company dedicated to developing innovative treatment methods and improving the lives of patients with innovative surgery, neurologic, and Regenerative Care. The company was established in 1989 when it acquired an engineered collagen platform to heal and regenerate tissues. Integra has created various products based on the technology, ranging from deep and burn injuries to repair of tendons, nerves, and the dura mater of the brain.
In the present, Integra LifeSciences has grown tremendously, employing 3,700 people across the globe, as well as manufacturing facilities, offices and research facilities across Asia, Australia, Europe as well as Europe, the Middle East, and the Americas. Integra’s products are used extensively throughout hospitals with intensive care units and operating rooms across the globe.
Medtronic
Medtronic has seen a fair number of setbacks in the last year. However,. However, the largest medical device maker has taken steps that may set its sights on making changes when treating chronic illnesses like atrial fibrillation.
The revenue for fiscal 2023 fell 1.4 percentage compared with the prior year. Analysts recommend a wait-and-see way to assess Medtronic’s performance during the fiscal year 2024.
Even though it spins off certain companies and makes significant cuts in costs, including eliminating employees, Medtronic is now spending more than it did before the epidemic of R&D.
KONINKLIJKE PHILIPS N.V. (AEX: PHIA)
Koninklijke Philips (NYSE: PHG, AX: PHIA) is a major maker of medical products and a technology firm that is dedicated to improving health for people and helping increase outcomes throughout the entire health spectrum including healthy living, prevention through the diagnosis, treatment, and at-home healthcare. Philips provides complete solutions with cutting-edge technology and extensive consumer and clinical knowledge.
With its headquarters in the Netherlands, Philips is an industry leader in diagnostic imaging, computer-guided therapy, patient monitoring, health informatics, and the field of consumer health and home health. Philips Health Technology produced sales that reached EUR 19.5 billion in 2019 and has employed around 80,495 people in sales and services in over 100 countries.
Pfizer US$100.33 (+19%)
The top position for 2024 is American multinational biotechnology and pharmaceutical company, Pfizer. Pfizer specializes in researching and developing vaccines and medicines across many areas like immunology, oncology, cardiology, and neurology after the separation of Upjohn, completed in 2022. The company is now an innovative, single-minded biopharmaceutical firm focusing on the development, discovery, manufacturing, marketing, distribution, and sales of biopharmaceutical-based products around the world.
For 2023, sales at Pfizer increased to a staggering US$89.6bn, which saw their growth year-over-year by 90% thanks to the top-selling drug Comirnaty, an mRNA-based vaccine that treats Covid-19. While the demand for this vaccine has slowed in 2022, it was an incredible year for Pfizer which saw sales of $100.3 billion, a record for the business.
In the meantime, Pfizer continues expanding its R&D pipeline with potentially breakthrough vaccines and medicines. In 2023, they obtained eight important regulatory approvals, submitted 13 submissions to regulatory agencies, and started 10 pivotal study startups. In addition, they successfully concluded four acquisitions – Arena Pharmaceuticals, Biohaven Pharmaceuticals Global Blood Therapeutics, and ReViral– that have substantially enriched their drug products.
Axonics
With its headquarters located in California, Axonics is a recognized medical technology business in the world dedicated to researching and commercializing new solutions for people suffering from problems with bowel or bladder. In particular, Axonics has received several prestigious awards and has been awarded 2nd place in 2023’s Financial Times list of the most successful companies growing fastest within the Americas and getting fourth position in the list of 2022’s Deloitte Technology Fast 500 ranking.
For 2021, Axonics had a remarkable revenue of $180.3 million. It also had an impressive compound annual growth rate (CAGR) of 543 percent. Axonics’ latest financial outcome in the 2nd quarter of 2023 revealed an amazing total of $358 million. That’s a remarkable 31 percent rise compared to results for the fiscal year 2022.
Baxter – $129bn
Healthcare giant from Illinois Baxter is a global healthcare giant with a combined annual revenue total of $11.1bn and employs 50,000 workers worldwide.
The medical devices it sells are classified into critical care, surgical care, hospital treatment, and renal care. The most recent flagships comprise the Amia dialysis machine, designed for treating end-stage renal sufferers at home, and the Spectrum IQ infusion pump.
In 2009, Baxter was also among only a few businesses that received EU approval for an H1N1 influenza vaccine during the swine flu pandemic sweeping across the globe.
Analog Devices, Inc.
Analog Devices, Inc. is a U.S.-based multinational semiconductor firm that specializes in the field of data conversion, processing of signals, as well as technology for power management. The company’s product range comprises Electrocardiogram (ECG) measurements res, respiration rate measurements, wearable health monitors, and oxygen saturation measurements, as well as others. In May of 2022, Analog Devices, Inc. unveiled a 3-axis MEMS accelerometer that is designed to be used in many industrial and medical applications, such as monitoring vital signs, hearing aids, and meters that are motion-enabled.
Flatiron
Flatiron is a United States healthcare technology startup specializing in real-time data and actual-world evidence-based solutions to treat cancer.
Flatiron was established at the end of 2012 2012 by Nat Turner and Zach Weinberg to change how cancer is treated through real-world data to boost decisions in clinical care and develop new drugs and research.
The most popular product from the company, which is a cloud-based cancer software and analytics, is well-known for its ability to combine and analyze the data gathered from the electronic health records (EHRs) of thousands of cancer patients and bring valuable information about the treatment process, outcomes for patients and the course of progression.
Flatiron is present in the United States, Germany, J, and the United Kingdom and primarily serves oncology hospitals, clinics, pharmaceutical companies,s, and research institutes that seek to increase the treatment and understanding of cancer.
Becton Dickinson & Co. (BD)
Introduction: BD is a premier international medical technology firm that develops, produces, and markets medical devices, Instrument systems, instruments, and Reagents. It was founded in 1897. BD employs more than 30,000 employees across more than 50 countries around the globe. It serves hospitals, life science research institutes, clinics, the pharmaceutical industry, and people in general. BD has been havingating in China since and since 1996.
Thects offered by BD include needles, Syringes, intravenous catheters, Auto-disable and safety-engineered products, Pre-fillable delivery systems for drugs and prefilled IV flush syringes ins, using pen needles, and insulin syringes, regional anesthesia needles, trays, surgical blades, and scalpels, instruments for surgery in the ophthalmic field and other critical care items.