The rapidly growing market in the medical device industry is driven by the complex needs of patients. It encourages companies to develop innovative treatments to improve health and quality of life. In 2019, the global medical device market reached nearly 456.9 billion US dollars. Growth comes from increasing medical facilities, healthcare spending, technological advancements, and aging population. According to the revenue data of the medical device business in 2019, we list the top ten medical device companies in the world.

American pharmaceutical distribution giant Gardner ranked tenth. Cardinal Health has over 100 years of experience and 50,000 employees. The company is a pharmaceutical, medical product and service that helps health care providers. In fiscal 2020, the company's medical segment revenues were down slightly, down 1% year-over-year.

BD Medical ranks ninth. BD is an American multinational medical technology company that mainly produces and sells medical equipment, instrument systems and reagents. BD's medical segment grew 8% in 2019. In 2019, 25 major products were successfully launched. Going forward, the company plans to continue to invest and develop a strong pipeline of new products.

Siemens Healthineers ranked eighth. Germany-based Siemens Healthineers posted a 14 percent increase in sales in 2019, led by very strong growth in its Imaging and Advanced Therapies businesses. Fiscal year 2020 marks the start of the second phase of Siemens Healthineers' Strategy 2025, which includes growth plans in three core areas: Imaging, Diagnostics and Advanced Therapies. Priorities across divisions are to increase regional market share, grow with leading healthcare and drive the company's digital transformation.

Germany-based Fresenius ranked seventh. With 300,000 employees in more than 100 countries, Fresenius is a leading provider of products and services for dialysis, hospital and outpatient care. In 2019, the company's medical segment grew 1%. The acquisition and integration of home dialysis treatment NxStage significantly enhanced the company's performance.

Philips Healthcare, ranked sixth, is a diversified technology company with more than 100 years in business. Philips' healthcare segment accounts for 42% of global revenue and is made up of three key areas: diagnosis and treatment, nursing and personal health. In 2019, Philips' health business achieved sales of $19 billion, down 8% year-on-year. Looking ahead, Philips has a strategic plan to further grow by focusing on capturing growth opportunities, driving innovative solutions and strengthening mergers and acquisitions, investing and deepening partnerships.

In fifth place is GE Healthcare. GE Healthcare has a broad product portfolio and is widely recognized for its Imaging, Ultrasound, Software and Life Care Solutions businesses. The company's healthcare sales rose 1% in 2019, with strong performance in life care solutions and ultrasound compensating for imaging. In late 2019, GE Healthcare announced a series of deals to expand its presence in growing fields such as 3D printing, surgical robotics and virtual patient monitoring. GE Healthcare President and CEO Kieran Murphy commented: "The next chapter in healthcare will be written in part by emerging technologies such as 3D printing, robotic surgery and virtual patient monitoring."

Abbott was fourth. Founded more than 130 years ago and headquartered in Illinois, Abbott provides medical devices and healthcare solutions to more than 160 countries and territories. With 107,000 employees worldwide, the company is known for creating breakthrough products in diagnostics, medical devices, nutrition and branded generic pharmaceuticals. Abbott's sales rose 5 percent in 2019, led by strong performance from its FreeStyle Libre glucose monitoring system and MitraClip, a heart valve therapy product.

Medical diagnostics company Thermo Fisher ranked third. Headquartered in Massachusetts, it consists of four key segments; Life Science Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products & Services. The company's revenue grew 5% in 2019. High-impact innovations and new product launches drove growth. The company will remain committed to continuous innovation and plans to expand its business scope to more emerging markets.

Johnson & Johnson ranked second this time. Johnson Johnson's Medical Devices segment includes products widely used in orthopedics, surgery, interventional solutions, and eye care. Sales in 2019 were $26 billion, down 4% compared to 2018. The decline in sales was due to lower surgical and orthopedic revenues. Electrophysiology, contact lenses, and energy and endoscopic devices performed well. Going forward, the company plans to focus on acquisitions and deepening strategic partnerships to prioritize improving its innovation pipeline and managing its product portfolio.

At the top of the list is still Medtronic. Medtronic is the largest medical device company in the world. Medtronic has more than 90,000 employees in 150 countries around the world. In fiscal 2020, the company reported revenue of $28.9 billion, down 3% year-over-year. The epidemic has affected some of the company's performance, but the company remains committed to optimizing innovation, increasing R&D productivity, driving growth in emerging markets, conducting clinical studies, and evaluating new R&D programs.