Top Global Medical Device Companies of 2025
The medical device industry thrives on innovation, with leading companies shaping healthcare through cutting-edge technologies. In 2024, the global market reached $542.21 billion, projected to hit $572.31 billion in 2025, driven by chronic disease prevalence and homecare trends. Below, we spotlight the top players, their recent market share gains, and how PartsSource.com supports their patient monitoring systems and other devices.
What Defines a Top Medical Device Company?
In a rapidly evolving healthcare landscape, true leadership in the medical device sector goes beyond just revenue. Top companies in 2025 are defined by:
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Market Leadership Through Innovation: They are relentless innovators, consistently launching groundbreaking technologies like AI diagnostics, robotic surgery, and remote patient monitoring. Their diverse product portfolios set new industry benchmarks.
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Commitment to R&D and Safety: Leaders make substantial R&D investments and adhere strictly to global safety and regulatory standards. They ensure device reliability, patient safety, and clinical efficacy.
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Global Presence and Revenue Growth: A strong global footprint ensures impact. These companies operate across continents, showing consistent revenue growth and widespread adoption of their technologies.
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Integration with Digital Health Platforms: The future is digital. Top medical device companies integrate hardware with software, data analytics, and digital health platforms, enhancing workflows, data access, and remote monitoring.
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Strong Partnerships and Consistent Performance: Trust is built on reliable device performance. Leading companies foster deep partnerships with healthcare providers, sustained by consistent results, post-sales support, and readily available replacement parts.
Top Global Medical Device Companies of 2025
Medtronic
Market Leader in Medical Technology
Medtronic, headquartered in Ireland, reclaimed the top spot in 2024 with $32.31 billion in revenue, up 5% from 2022, driven by organic growth and acquisitions like Intersect ENT. Its portfolio spans cardiac devices (e.g., PulseSelect for atrial fibrillation), diabetes management (MiniMed 780G), and neurosurgical tools. In May 2024, Medtronic reported 4–5% organic revenue growth, fueled by AI innovations with NVIDIA and 130 product approvals.
Why It Matters: Hospitals rely on Medtronic’s precision devices. OEM parts from PartsSource ensure these systems stay reliable, minimizing downtime in critical care.
Johnson & Johnson MedTech (DePuy Synthes & Ethicon)
Orthopedic and Surgical Powerhouse
Johnson & Johnson MedTech, including DePuy Synthes and Ethicon, posted $30.40 billion in 2023 revenue, a 10.8% surge, driven by electrophysiology products and the $13 billion Shockwave Medical acquisition in 2024. Its orthopedic implants and surgical tools (e.g., Monarch robotic system) enhance precision. In July 2024, CEO Joaquin Duato emphasized a “strong foundation” for growth.
Why It Matters: J&J’s devices demand compatible parts. PartsSource’s OEM surgical accessories keep operating rooms running smoothly.
GE Healthcare
Diagnostic Imaging Innovator
GE Healthcare, now independent since January 2023, reported $19.52 billion in 2023 revenue, up 6.59%, with growth in imaging and ultrasound. The company’s MRI, CT, and patient monitoring systems are hospital staples. In 2024, GE partnered with J&J’s DePuy Synthes for spine imaging, boosting market presence.
Why It Matters: GE’s diagnostic tools require precision maintenance. PartsSource’s OEM imaging parts ensure diagnostic accuracy.
Siemens Healthineers
Precision Diagnostics Leader
Siemens Healthineers, based in Germany, generated $24.04 billion in 2023 revenue, up 3.13%, with 8.3% growth excluding COVID-19 antigen tests. Its imaging and cancer care solutions shone, with a €200 million acquisition of Novartis’ diagnostic arm in August 2024 expanding its PET radiopharmaceutical market.
Why It Matters: Siemens’ diagnostic systems need reliable components. PartsSource’s OEM diagnostic parts support clinical efficiency.
Philips Healthcare
Patient-Centric Solutions
Philips Healthcare reported $18.9 billion (EUR 18.0 billion) in 2024 revenue, with 1% comparable sales growth, despite a double-digit decline in China. Despite a CPAP recall challenge, Philips launched AI-integrated devices like the Azurion platform in 2024. Its focus on wearable monitors aligns with homecare trends.
Why It Matters: Philips’ monitors require seamless integration. PartsSource’s OEM monitoring parts ensure data continuity.
Abbott Laboratories
Diagnostics and Diabetes Care
Abbott’s 2023 revenue was $40.01 billion, with medical devices contributing significantly, though diagnostics dropped 14% post-COVID. Its FreeStyle Libre CGM system led diabetes care, with CE mark approval for the Assert-IQ cardiac monitor in March 2024.
Why It Matters: Abbott’s CGMs need reliable sensors. PartsSource’s OEM diabetes care parts support patient empowerment.
Stryker
Orthopedic and Neurotechnology
Stryker’s 2023 revenue hit $20.49 billion, up 7.6%, driven by Mako robotic surgery systems and FDA clearance for a minimally invasive back pain treatment in 2025. Its orthopedic implants dominate joint replacement markets.
Why It Matters: Stryker’s surgical tools require precision parts. PartsSource’s OEM orthopedic components enhance surgical outcomes.
Boston Scientific
Interventional Medicine Innovator
Boston Scientific’s 2023 revenue was not specified, but it’s cardiovascular and endoscopy solutions grew market share via acquisitions like TAVR in 2024. Its drug-eluting stents and neuromodulation devices lead minimally invasive care.
Why It Matters: Boston Scientific’s devices need specialized parts. PartsSource’s OEM cardiovascular parts ensure performance.
Baxter International
Leader in Infusion and Renal Care
Baxter delivered $14.8 billion in 2023 revenue, showcasing resilience with innovations like the Novum IQ infusion pump and Hillrom’s Centrella Smart+ Beds[^14]. Strategic 2024 divestitures, including Kidney Care to Carlyle Group and Critical Care to BD, sharpened its focus on high-growth infusion and renal care solutions[^10].
Why It Matters: Baxter’s critical care devices demand precision. PartsSource’s OEM infusion parts ensure seamless performance.
Becton, Dickinson and Company (BD)
Medication Management Leader
BD’s 2023 revenue was $19.40 billion, up 2.6%, despite a 13.4% diagnostics drop. Its syringes and diagnostic systems gained share, with BD acquiring Edwards’ Critical Care unit in 2024.
Why It Matters: BD’s devices need safe components. PartsSource’s OEM diagnostic parts ensure accuracy.
Choosing the Right Medical Device Brand
Selecting the optimal medical device company and products for your facility requires a strategic approach. It's not just about brand recognition; it's about alignment with your operational realities and long-term goals.
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Clinical Needs and Device Compatibility: First, thoroughly assess your specific clinical requirements. Does the device meet the demands of your patient population, specialty, and anticipated workload? Equally important is ensuring compatibility with your existing infrastructure, including power requirements, IT networks, and central monitoring systems. For patient monitoring equipment, consider how seamlessly new devices integrate with your Electronic Health Records (EHR) to facilitate data flow and clinical decision support.
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Prioritize OEM Support and Availability of Replacement Parts: This is a critical yet often overlooked factor. A brand's commitment to OEM (Original Equipment Manufacturer) support ensures access to genuine, high-quality replacement parts, timely service, and up-to-date documentation. Relying on easily available OEM parts directly impacts your ability to perform swift repairs, reducing equipment downtime and extending the lifespan of your investment. This proactive approach minimizes disruptions to patient care and significantly controls long-term maintenance costs.
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Evaluate Vendor Reputation, Warranty Support, and Scalability: Research the vendor's reputation for reliability, customer service, and post-sales support. Understand the warranty terms and what they cover. Consider the scalability of the device and the brand's ecosystem. Can the device be upgraded or expanded as your facility's needs evolve? Does the brand offer solutions that can be standardized across different departments, simplifying training and maintenance protocols? A strong vendor relationship provides peace of mind and operational efficiency.
How PartsSource Supports Your Medical Device Fleet
In the complex world of medical device management, PartsSource is your indispensable partner, providing the critical resources to maintain your high-performing equipment fleet:
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Access to a Wide Range of OEM Replacement Parts and Accessories: PartsSource offers unparalleled access to an expansive catalog of OEM-certified parts and accessories. We source directly from the world's top medical device companies, ensuring you get genuine components that guarantee compatibility, optimal performance, and adherence to manufacturer specifications. This vast inventory minimizes your search time and ensures you find the right part for any device.
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Fast, Reliable Shipping to Prevent Disruptions: We understand that every moment of downtime affects patient care. Our streamlined logistics and robust supply chain are engineered for speed and reliability, ensuring your essential parts arrive quickly. This commitment to rapid delivery helps prevent prolonged medical equipment outages, allowing your facility to maintain seamless patient services and operational continuity.
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Expert Assistance for Sourcing, Compatibility Checks, and Maintenance Support: PartsSource empowers your biomedical and procurement teams beyond just providing parts. Our platform offers expert assistance for sourcing hard-to-find components, conducting compatibility checks to ensure proper fit, and providing general maintenance support. We act as an extension of your team, helping you make informed purchasing decisions and optimize your device maintenance strategies.
Find the Best Medical Device Companies Through PartsSource
The top medical device companies of 2025 are the engines of healthcare innovation, driving progress through advanced technologies, unwavering safety standards, and trusted performance. Their commitment to pushing the boundaries of what's possible in diagnostics, treatment, and patient monitoring equipment is transforming clinical practice globally.
For healthcare facilities, maintaining peak performance and ensuring regulatory compliance requires more than just acquiring cutting-edge devices. It demands timely access to certified parts and accessories. By partnering with industry leaders and leveraging comprehensive solutions like those offered by PartsSource, facilities can optimize their medical device fleets, reduce downtime, and continue to provide the highest quality of patient care.
Explore PartsSource’s vast catalog of original equipment manufacturers parts to support your medical equipment from industry-leading brands and ensure your facility operates at its best.
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Bio Space Philips delivers growth, improved profitability, and strong cash flow in Q4 and 2024; continues solid execution of its three-year plan. https://www.biospace.com/press-releases/philips-delivers-growth-improved-profitability-and-strong-cash-flow-in-q4-and-2024-continues-solid-execution-of-its-three-year-plan
Food and Drug Administration. Recommendations for Recalled Philips Ventilators, BiPAP Machines, and CPAP Machines
Philips. Philips launches new Azurion neuro biplane system at #ECR2024 to speed up and improve minimally invasive diagnosis and treatment of neurovascular patients. https://www.usa.philips.com/a-w/about/news/archive/standard/news/press/2024/philips-launches-new-azurion-neuro-biplane-system-at-ecr2024-to-speed-up-and-improve-minimally-invasive-diagnosis-and-treatment-of-neurovascular-patients.html
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NASDAQ. 5 MedTech Stocks That Are Poised to Beat the Market in 2025.
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Yahoo Finance. Baxter International Full Year 2023 Earnings: EPS Beats Expectations. https://finance.yahoo.com/news/baxter-international-full-2023-earnings-141955059.html
Yahoo Finance.Becton Dickinson & Co (BDX) Reports Fiscal 2023 Results: Solid Growth Amidst Global Challenges.
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