Top 12 Medical Device Manufacturing Companies in USA

Medical device manufacturing companies in USA are individually earning more than their global counterparts. This means that they have a wider range of operations, and more opportunities to earn revenue.

In this blog, we’ll analyze the top 12 medical device manufacturing companies in USA earning more than $10B to understand why they’re at the top and what opportunities they can provide.

12 Best Medical Device Manufacturing Companies in USA

There are many criteria to rank medical device manufacturers, such as market share, impact on the healthcare industry, market reach, capability, etc. For the sake of simplicity, this list will rank these companies based on their total revenue.

Research Methodology

The companies included here are based on three factors:

• Their revenue is publically known and self-published.
• The revenue considered for the ranking is from the sale of medical devices.
• The companies are headquartered in the United States.

The rankings are only made based on their last known, publically available information of their revenue. In most cases, it is from their annual reports on FY23- 24 published in their website.

These rankings are only indicative of the scale of their revenue and not of the quality of their products, efficiency of their management, or any other factors.

1.  Medtronic

Medtronic has been one of the biggest medical device manufacturing companies in USA for quite a while. Now in its 75^th year, it reigns at the top.

The reason Medtronic is so successful is easy to understand when you look at their portfolio.

The 70+ health conditions they make devices for fall under cardiovascular, diabetes, surgical, and neuroscience. From this, Medtronic makes more than $11B from the sale of medical devices for cardiovascular problems alone.

Here’s an overview of their revenue for last year.

Over the last year, they have also invested $2.7B in R&D and conducted 191 clinical trials. It is obvious that they are looking forward to another successful year.

Medtronic Details

• Revenue: $32,364,000,000
• 2025 Revenue Forecast: $33,502,000,000
• Headquarters: Fridley, Minnesota, United States of America
• CEO: Geoffrey S. Martha
• Popular Products: ICDs, pacemakers, implants, and bone grafts
• R&D Spend: $2,735,000,000

2. Johnson & Johnson MedTech

Johnson & Johnson MedTech is one of the oldest medical device manufacturing companies in USA and perhaps the world.

Since the late 19^th Century, they have been creating innovative medical devices and have only stepped up their game since then.

Currently, their portfolio includes medical devices for cardiovascular (interventional solutions), orthopedics, surgery, and ophthalmology.

Despite the market for medical devices used in cardiovascular treatments being bigger, J&J MedTech makes most of its revenue from the sale of surgical equipment and orthopedic medical devices.

Here’s a breakdown of its revenue from different sources:

Recently, they also acquired Shockwave Medicals and put up their Cerenovus line for sale.

It’s only been a year since their major rebranding but it looks like the changes have no intention of stopping.

Johnson & Johnson MedTech Details

• Revenue: $30,400,000,000
• 2025 Revenue Forecast: $31,920,000,000
• Headquarters: Warsaw, Indiana, United States of America
• CEO: Joaquin Duato
• Popular Products: Circulatory support devices, catheters, robotic guides, and artificial joints
• R&D Spend: $3,122,000,000

3. Medline Industries

Medline Industries is the largest privately held medical device manufacturing company in the United States. They are also the largest supplier of medical stationery, apparel, braces, DME, and hospital furnishings in the world.

Started in 1966, Medline has been supplying medical and surgical supplies for 59 years. Currently, its portfolio includes over 330,000 products, distributed to more than 100 countries worldwide.

At the end of 2024, Medline had successfully completed the acquisition of Ecolab, further enhancing its portfolio.

As for more recent developments, Jim Pigott, the current President and COO has announced his retirement which will take place at the end of 2025.

With new management at the helm, you can expect to see more changes in the coming future.

Medline Industries Details

• Revenue: $23,200,000,000
• 2025 Revenue Forecast: $24,360,000,000
• Headquarters: Northfield, Illinois, United States of America
• CEO: Jim Boyle
• Popular products: Wound care, scrubs, protective gear, and Durable Medical Equipment

4. Stryker Corporation

Stryker Corporation is a pioneer in manufacturing implants and joint replacement devices.

With operations in over 75 countries and sales exceeding $20B, they can be considered one of the biggest prosthetic device manufacturers in the world.

However, they only reached this height recently. Just after the turn of the century, Stryker made more than 25 acquisitions. These had massively improved their portfolio of products.

This portfolio is split into Medical Surgery & Neurotechnology, and Orthopedics & Spinal.

Here’s the distribution of how each segment contributes to their revenue:

Their series of acquisitions in the past two decades indicates their preference for rapid expansion through acquisition. And this expansion can be expected to increase their portfolio of products accordingly.

Stryker Corporation Details

• Revenue: $20,498,000,000
• 2025 Revenue Forecast: $24,494,000,000
• Headquarters: Kalamazoo, Michigan, United States of America
• CEO: Kevin A. Lobo
• Popular Products: Surgical implements, joint replacements, fluid management systems, and transport accessories
• R&D Spend: $1,388,000,000

5. GE Healthcare

GE Healthcare Technologies is one of the biggest healthcare technologies in the world, specializing in imaging and diagnostic device development.

Their range of products is categorized into medical imaging technology, ultrasound devices, patient care solutions, and pharmaceutical diagnostics, with imaging technology providing more than half of their revenue.

Although it operates in over 100 countries, the United States remains its primary market, providing the majority of its revenue. Still, they are looking forward to a deeper global presence, especially in China.

As a major manufacturing hub, China is home to many healthcare technology device manufacturers, many of them currently rising to the top.

Facing such completion, GE is sure to concentrate more on the global market to avoid losing market share.

GE Healthcare Details

• Revenue: $19,552,000,000
• 2025 Revenue Forecast: $19,938,000,000
• Headquarters: Chicago, Illinois
• CEO: Peter Arduini
• Popular Products: X-ray machines, ultrasound devices, ECGs, and medical imaging devices
• R&D Spend: $1,205,000,000

6. Becton, Dickinson & Company

Becton, Dickinson & Company, better known as BD is a Fortune 500 company that sells medical devices and offers consulting and analytics-related services to healthcare organizations.

BD sells over 8,500 medical devices across many categories but is mainly segmented as BD Medical, BD Life Sciences, and BD Interventional. While the latter two only sell medical devices, BD Medical also includes other technologies such as software systems and consultancy solutions, which make it the bigger revenue generator for BD.

Since the vast majority of BD’s revenue comes from medical device manufacturing, it is safe to say that it will remain the primary focus of BD for some time.

On the financial side, after the 12 back-to-back acquisitions made between 2020 and 2022, BD has not made any major investments in this regard.

Becton, Dickinson & Company Details

• Revenue: $19,372,000,000
• 2025 Revenue Forecast: $21,827,000,000
• Headquarters: Franklin Lakes, New Jersey, United States of America
• CEO: Thomas Polen
• Popular products: Hypodermic needle & syringe solutions, integrated diagnostic systems, patient safety solutions, and sepsis management

7. Abbott Laboratories

Abbott Laboratories is one of the oldest medical device manufacturing companies in USA. Started as a pharmaceutical company in 1888, it slowly expanded its operations to include medical devices as well.

Their expertise in the pharmaceutical industry shows, as the majority of their $40B revenue comes from the sale of pharmaceutical products.

Despite that, Abbott is still a leader in medical device manufacturing as well, managing to make over $16B through the sale of medical devices.

The medical devices sold by Abbott include diagnostic equipment, cardiovascular devices, continuous glucose monitors, and neuromodulation devices.

Abbott hasn’t made any major investments since 2023. As the last two decades have shown, they have an average acquisition rate of 1 company per year. So expect at least 1 acquisition this year or more than 1 in the following years.

Abbott Laboratories Details

• Revenue: $16,887,000,000
• Headquarters: Abbott Park, Illinois, United States of America
• CEO: Robert B. Ford
• Popular Products: Glucose Monitoring Systems, catheters, Drug-Eluting Stents, and other diagnostic equipment

8. Cardinal Health

Cardinal Health is the 14^th highest revenue generating company in the United States, primarily selling healthcare services. However, they are also one of the biggest medical device manufacturing companies in USA.

With hundreds of products under 15 categories, Cardinal Health has an extensive catalog of products.

However, despite their incredible presence in the medical device manufacturing industry, their primary focus remains the healthcare service market, as it contributes over 90% of their $200B+ annual revenue.

This does not mean that the sale of medical devices is not important for Cardinal Health. In fact, some of their healthcare services such as their e-commerce platform can directly contribute to higher sales of medical devices.

It remains to be seen how their medical devices fare against their other services, as none of the last four acquisitions they made in the last year is related to medical device manufacturing.

Cardinal Health Details

• Revenue: $15,014,000,000
• Headquarters: Dublin, Ohio, United States of America
• CEO: Jason Hollar (Abbot Laboratories) and Stephen Mason (Medical Device segment)
• Popular Products: Lab supplies, Anesthesia supplies, Durable Medical Equipment, and disposable protective gears

9. Baxter International

Baxter International is a multinational healthcare company with a particular focus on medical devices and equipment manufacturing. It was established in 1931 and is famous for introducing the first functional artificial kidney in 1956.

Since then, Baxter has been making great strides in the development of medical devices for chronic and acute medical conditions. Currently, the areas for which they make products include hemophilia, antibody, critical care, pulmonology, biosurgery, and vaccine administration.

Baxter is also known for its philanthropic activities, being included in Bloomberg’s Civic 50 and Corporate Responsibility Magazine’s 100 Best Corporate Citizens.

Apart from the acquisition of medical device manufacturer Hill Rom in 2021, Baxter has made no other acquisitions recently. They have even decided to divest their Kidney Care segment to Carlyle for $3.8B.

This could indicate either a preparation for a major investment or a new direction for the company.

Baxter International Details

• Revenue: $14,813,000,000
• 2025 Revenue Forecast: $11,221,000,000
• Headquarters: Deerfield, Illinois, United States of America
• CEO: José Almeida
• Popular Products: Infusion systems, fluid management monitoring systems, hemostatic sealants, and surgical care devices
• R&D Spend: $667,000,000

10. Boston Scientific

Boston Scientific is a Massachusetts-based company known for manufacturing medical devices used for interventional medical treatments in multiple fields of medicine, especially in cardiology.

Some of their popular products include Drug Eluting Stents, subcutaneous ICDs, Pacemakers, and the like. Overall, their catalog includes products from 75+ categories across 14 medical specialties.

Boston Scientific, despite its broad range of specialization, still gets the majority of its income from medical devices for cardiology-related conditions.

After 4 major acquisitions in the last year, Boston Scientific has already made an investment this year by acquiring Boston-based medical device manufacturing company Bold Medical.

If the trend from 2018 continues, they will be making more acquisitions in the coming years.

Boston Scientific Details

• Revenue: $14,240,000,000
• 2025 Revenue Forecast: $19,159,000,000
• Headquarters: Boston, Massachusetts, United States of America
• CEO: Michael F. Mahoney
• Popular Products: ICMs, access devices, pacemakers, and ICDs
• R&D Spend: $1,414,000,000

11. Henry Schein

Henry Schein is one of the most well-respected medical device manufacturing companies in USA. Established in 1932 as a pharmacy, it slowly made forays into the dental equipment market to finally become one of the top 5 dental equipment manufacturers in the world.

Medical devices from Henry Schein include medical, surgical, and laboratory supplies, diagnostic devices, surgical instruments, and more. However, dental equipment remains their primary product category.

Their revenue has went through a few rough spots but continued to rise in the past 10+ years.

This consistent revenue shows how Henry Schein is handling the increasing competition in the market without major losses. However, its immense presence in the dental equipment market is not the only thing Henry Schein is known for.

Henry Schein was named one of the World’s Most Ethical Companies by Ethisphere for 13 years in a row. It also received the Equality 100 Award from the HRC Foundation 8 consecutive times.

With a stellar reputation and large market presence, Henry Schein can be said to be one of the top medical device manufacturing companies in USA as well as the very best dental equipment manufacturer.

Henry Schein Details

• Revenue: $12,339,000,000
• 2025 Revenue Forecast: $13,019,000,000
• Headquarters: Melville, New York, United States of America
• CEO: Stanley M. Bergman
• Popular Products: Gloves, impression materials & accessories, infection control products and restorative materials

12.Owens & Minor

Owens & Minor is a global medical device manufacturing company with over 140 years of history. It started as a pharmacy but moved on to medical supplies, eventually becoming a leader in providing disposable medical supplies and protective equipment.

Currently, Owens & Minor focuses mainly on providing supply chain solutions to healthcare providers while distributing their medical devices through their subsidiary Halyard, as well as its own e-commerce platform.

This choice of selling their medical devices through a subsidiary seems to have worked out well for Owens & Minor since they were finally able to cross the $10B mark in revenue.

With Owens & Minor finally reaching the elusive $10B club, they can now be considered one of the biggest medical device manufacturing companies in USA.

Where they will go from this spot remains to be seen. However, their focus on the supply chain side of medical devices should provide some insights to their future decisions.

Owens & Minor Details

• Revenue: $10,333,967,000
• 2025 Revenue Forecast: $10, 942,000,000
• Headquarters: Mechanicsville, Virginia, United States of America
• CEO: Ed Pesicka
• Popular products: Disposable protective gear, IV stand accessories, drapes, and scrubs
• R&D Spend: $13,200,000

Additional Resources

If you are looking for additional information on these medical device manufacturers, such as their financial capability and future plans, here is a list of resources you can use.

Conclusion                    

Reaching $10B in revenue is a big milestone for medical device manufacturers. Out of hundreds of medical device manufacturers in the world, only 14 of them have reached this milestone.

However, 12 out of those 14 are from the United States. This shows that the medical device manufacturing companies in USA are the biggest players in the industry.

What this means is that when it comes to opportunities in the healthcare devices market, these companies are not just the ones likely to create them, but are also in the best position to take advantage of them.