Medical technology - top companies based on revenue 2023

In 2023, with a revenue of approximately 32.4 billion U.S. dollars, Medtronic was the leading medical technology company in the world. The largest segment within the company was for cardiovascular care, followed by the neuroscience segment. The United States was by far the most important geographical region for Medtronic.

Medtronic in numbers

Medtronic was founded in Minnesota in 1949, and since then, the company has had its operational headquarters located there. However, in 2015 the legal base of Medtronic was moved to Ireland for tax reasons. Over the past 15 years, Medtronic has undergone significant increases in revenue, increasing almost year-on-year. As of 2020, almost 105 thousand people were employed worldwide.

Johnson & Johnson

In 2023, U.S. based medical device company Johnson & Johnson generated 30.4 billion U.S. dollars in revenue. The company had around 132 thousand employees in 2022. Johnson & Johnson’s largest segment within medical devices was surgical, which earned about 10 billion U.S. dollars. The orthopedics franchise was the segment’s second-largest field, generating roughly 8.9 billion U.S. dollars that year.