Global Medical Device R&D Rankings Unveiled: Medtronic Tops List with Highest R&D Investment

On December 4, Medical Design & Outsourcing released the 2020 Global R&D Rankings for Medical Device Companies. The top three were Medtronic, Philips, and Johnson & Johnson.

Medical Design & Outsourcing has also previously published2020 Global Top 100 Medical Device Companies (2020 BIG 100) and the List of the Top 10 Global Medical Device Companies.

The ranking is based on the annual revenue of each company’s medical device segment for fiscal year 2019 (annual results released before June 30, 2020).Medtronic, Johnson & Johnson, and Philips Remain the Top Three Global Medical Device Companies by Revenue.

It is worth noting that in the 2020 global ranking of medical device companies by R&D expenditure, the top three remained Medtronic, Johnson & Johnson, and Philips.

Medtronic Announces Fiscal 2021 Second-Quarter Results,Revenue during the reporting period was $7.647 billion, compared to $7.706 billion in the same period last year. Net profit was $494 million, compared to $1.371 billion in the same period last year.

By business segment, the Minimally Invasive Therapies Group reported revenue of $2.285 billion, a year-over-year increase of 6.7%; the Cardiovascular Portfolio reported revenue of $2.725 billion, a year-over-year decrease of 4.6%; the Restorative Therapies Group reported revenue of $2.063 billion, a year-over-year decrease of 2.3%; and the Diabetes Group reported revenue of $574 million, a year-over-year decrease of 3.7%.

Johnson & Johnson’s Q3 2020 Results Far Exceed Expectations, with Third-Quarter Sales Rising to $21.082 Billion from $20.729 Billion in the Same Period Last YearAmong this, the medical device business achieved sales of $6.15 billion. Net profit rose from $1.753 billion in the same period last year to $3.554 billion, a year-on-year increase of 102.7%.

Philips Announces Unaudited Third Quarter 2020 Results. Sales amounted to €4.98 billion (approximately $5.96 billion), representing a 6% year-on-year increase.

Among these, the Care and Nursing business recorded sales of €1.556 billion, a year-on-year increase of 36%; the Personal Health business reported sales of €1.376 billion, compared to €1.358 billion in the same period last year, representing a slight growth. The Diagnosis and Treatment business achieved sales of €1.971 billion, a year-on-year decrease of 7%. Net profit amounted to €340 million, a year-on-year increase of 63.5%.