Strategies of Top 100 Medical Device Companies Detailed in New Report
Canon Data Products Group and PharmaLive.com have released the second-annual “Top 100 Medical Device Companies” Special Report. This report offers analysis of the business operations and strategies of the top-performing medical device companies.
New product innovation usually plays the most prominent role in determining company success and sustainability year after year. “The top 100 companies generated $277.18 billion in 2009 medical technology revenue (excluding certain companies’ other industry sales), an increase compared with the 2008 figure of $271.97 billion,” says Andrew Humphreys, editor in chief of Canon Data Products Group. “The United States leads the way with 59 out of the top 100 device companies, followed by Europe with 25 and the Asia-Pacific region with 16.”
According to a press release issued last week on the report, advancements in medical devices and convergent technologies for the development of next-generation products have improved patient monitoring, safety, and outcomes; reduced recovery time; and prevented costly complications. Many U.S.-based device companies are developing partnerships on a global scale to pursue innovation and implement strategies that will allow them to expand into emerging markets. Corporate managers believe that this strategy will offset the impact of diminishing VC investment due to almost-certain changes regarding the U.S. approval pathway for medical devices and the proposed innovation tax that skeptics fear may stifle innovation, decrease job opportunities, and limit solutions available to patients.
Although U.S. companies make up more than half of the listing of the top 100 medical device companies, the proliferation of international giants shows that the industry is generating more and more profits from global outreach efforts, particularly in China, Japan, and Europe.
Despite all of the acquisitions occurring in the medical device sector as well as the new crop of small start-up companies, almost all of the top 100 medical device companies based on 2008 revenue retained the same status based on 2009 sales. The Johnson & Johnson family of businesses remains the world’s largest and most diverse medical device and diagnostic company.
Through acquisitions, Siemens Healthcare is the first integrated healthcare company combining imaging and lab diagnostics, therapy, and healthcare IT solutions supplemented by consulting and support services. Siemens delivers solutions across the entire continuum of care – from prevention and early detection, to diagnosis, therapy, and care. In the company’s fiscal year ended Sept. 30, 2009, Siemens Healthcare generated revenue of 11.95 billion euros and profit of roughly 1.45 billion euros.
This PharmaLive Special Report is available at www.PharmaLive.com/specialreports. For more information, contact Sandra Baker at 215/944-9836 or Sandra.Baker@cancom.com.