Chinese MedTech Giants Rise on Global Stage: Mindray, Lepu, United Imaging, Yuwell, and MicroPort Shine in 2022 Global Top 100 Medical Device Companies

Jan 13, 2024 19:00 CST Updated 19:00

Abbott

Provider of Health Diagnostic Products and Health Diagnostic Management Solutions

Medtronic

Medical Device Manufacturer

Introduction

Medtech Insight, a third-party authoritative website, released the Global Top 100 Medical Device Companies list. The ranking is based on the sales revenue of medical device companies in 2022. According to statistics, the total annual revenue of all companies selected for this year's top 100 reached 466.66 billion US dollars, with a total revenue increase of 0.6%. This marks the second consecutive year of growth following the rare decline during the first year of the COVID-19 pandemic. Abbott ranks first, Mindray 26th, Lepu 58th, United Imaging 67th, and MicroPort 80th.

Surpass Medtronic!

Abbott Tops the Medical FieldGlobal Medical Device Leader

The top 10 medical device companies are: Abbott (Medical Devices + Diagnostics), Medtronic, Johnson & Johnson (Medical Devices Sector), Siemens Healthineers, BD (Medical Segment), Roche Diagnostics, Stryker, GE Healthcare, Royal Philips, Cardinal Health.

Among themAbbott (Medical Devices + Diagnostics) Tops Global Medical Device Companies with $31.271 Billion in Revenue, Surpassing Medtronic。

Among the top 10, only BD and Stryker have moved up in ranking, while Johnson & Johnson (Medical Devices Sector) and Siemens Healthineers remain in the third and fourth positions respectively.

Later Rise to the Top!

A Large Number of Companies Enter the Global Top 100 Medical Device Enterprises

The COVID-19 pandemic and large-scale mergers and acquisitions have been the biggest variables affecting the rankings over the past seven years.In this top 100 list of medical device companies, 15 enterprises entered the top 100 for the first time, and several companies even directly entered the top 50.

After enduring persistent challenges such as resolving supply chain resilience, inflation, and the ongoing COVID-19 pandemic, medical device companies that have survived and rapidly developed in the post-pandemic era are quickly entering the ranks of global competition, reshaping the landscape of the global market.

Among them,United Imaging Healthcare, which was listed on the STAR Market in August 2022, once had a market value exceeding 155 billion yuan. Shortly after its listing, United Imaging Healthcare appeared on the global Top 100 Medical Device Companies list, ranking 67th.

Mindray Breaks into the Global Top 30!

Chinese-Made Medical Device Companies Launch Globalization Strategy

Notably, five China-produced medical device companies have entered the global top 100 medical device companies list:Among them, Mindray Medical's ranking rose from 31st to 26th, Lepu Medical's ranking rose from 76th to 58th, and United Imaging Healthcare entered the list for the first time at 67th place.。

This meansChinese-Made Medical Devices Officially Break into the Global Top 30, More Chinese Medical Device Companies Embark on Global Expansion。

From the perspective of global market rankings, according toMedtech According to the Insight's Top 100 list over the years, Mindray Medical ranked 36th, 31st, and 26th in 2020, 2021, and 2022 respectively, with its ranking improving year by year, steadily moving towards the goal of being among the top 20 global medical device companies.

Looking back at the thirty-year development journey of China's medical device industry, from agency and imitation to incremental innovation and comprehensive innovation,The pace of China's domestically produced medical device industry continues to advance, with innovations in imaging equipment, cardiovascular devices, and IVD segments, leading to a steadily increasing market share.。

Expansion of domestic production, industry capacity consolidation, increased market penetration, and expansion into overseas markets—all these ongoing developments point to one outcome: more incremental space for China-produced device leaders.Chinese medical device enterprises are further advancing into the ranks of the world's top giants.！

Source: Medical Device Distributors Alliance

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