Latest Revenue Rankings of Listed Medical Device Companies Released (With List)

Author | Dongtai

Editor | Qin Jiu

Medical Device Companies' Performance Big Reveal2025Who made the most money this year?

01

AThigh139Home Medical Device Company

Revenue and Net Profit Announcement

According toTonghuashunWencai Data, as of4Month30Day,AThigh139List of Medical Device Companies in China2025Annual Performance Report.

2025Top A-share Revenue in China for the Year10The medical device companies are respectively:Mindray、United Imaging、Intco Medical、Shinva Medical、Yuwell Medical、Lepu Medical、Chu Tian Technology、Blue Sail Medical、Dongfu Long、Sinocare。

Mindray's performance last year showed a slight decline, but it still managed to332.82With billions in total revenue, it firmly ranks first in the industry, far surpassing other medical device companies in China.

United Imaging followed closely, with last year's total revenue138100 million yuan. It is worth mentioning that last year's revenue ranking was among the top.30Among the equipment companies, United Imaging is the only one with an increase exceeding30%The enterprises, showing a strong growth momentum.

Last year,In total76Revenue of home companies increased year-on-year. Except for United Imaging,Double Medical、APT Medical、Yirui Technology、ResMed、Chunli Medical、Aishelon、Mountain Beyond Mountain、Haitai New Light、Jianxin Superconducting、Tianyi Medical、NorthX Life、NorthX Life、Jinhao Medical、TINAVI、Cowin CenturyRevenue growth of companies such as Andon Health, United Imaging, Mindray, APT Medical, SINOMED, Sanyou Medical, and Double Medical has also exceeded20%。

Net Profit Ranking Top10The medical device companies are respectively:MindrayAndon Health, United Imaging,New Industry、Yuwell Medical、Autobio, Intco Medical, Lepu Medical, APT Medical,Shandong Yaobo。

Total67Net Profit of Home Companies Increased Year-on-Year. Among them,SINOMED、Sanyou Medical, Lepu Medical, Beixins Life,Rendu Biotech、Kelly Medical、Aurora Medical, Jinhao Medical, Chutian Technology, Chunli Medical,Yangpu Medical, SWS and other companies' net profit growth exceeds100%。

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Quick Overview of Performance Highlights in Niche Markets:

Orthopedics, Hemodialysis, Electrophysiology

Electrophysiology: The Star Track Maintains High Growth

Currently, in China's electrophysiology industry, foreign enterprises such asJohnson & Johnson, Boston Scientific, AbbottMedtronic and others still occupy a dominant position. However, local companies are also developing rapidly.

After being acquired by Mindray,APT MedicalContinued at a relatively high growth rate。2025YearAPT MedicalRevenue25.84100 million yuan, a year-on-year increase of25.08%，Net Profit Attributable to Shareholders8.21100 million yuan, year-on-yearGrowth21.91%. Among them, thePhysiological Revenue5.71100 million yuan, year-on-yearGrowth29.81%。

Last Year APT Medical's Electrophysiology in ChinaSectorFocus on the CorePFAProduct Access and Promotion, Traditional 3D Non-AF Ablation Surgery Accelerates Progress.At the same time,Key overseas markets maintained rapid growth, with full-year revenue from overseas operations.3.37100 million yuan,Year-on-yearGrowth20.25%。

MicroElectroPhysiologyRevenue4.65100 million yuan,Year-on-yearGrowth12.43%，Non-recurring Net Profit2365.8010,000 yuan,A significant increase year-over-year365.73%。

With the continuous upgrading of technology, the market share of MicroPort EP in China's three-dimensional electrophysiology fieldFurtherEnhance, especially in the treatment of complex cases such as atrial fibrillation, gradually occupying a larger market share. In the field of three-dimensional electrophysiological surgery in China, as of2025End of the yearMicro EPCumulative Surgical Volume Breakthrough9With tens of thousands of cases, it ranks first among domestically produced manufacturers and third nationwide in China.

Orthopedics: The Low Point Has Passed, Orthopedic Track Makes a Strong Comeback

After experiencing a phase of adjustment brought on by widespread price reductions, the impact of centralized procurement in the orthopedic sector has been fully absorbed, and last year, all companies achieved a comprehensive recovery in performance.

2025YearSpringMedAttributable to Parent CompanyNet Profit2.73100 million yuan, year-on-yearIncrease of 118.05%; Double MedicalNet Profit Attributable to Shareholders6100 million yuan, year-on-yearIncrease of 68.06%；WEGO OrthopaedicsNet Profit Attributable to Shareholders2.69100 million yuan, year-on-yearIncrease by 20.06%; Sanyou MedicalNet Profit Attributable to Shareholders6310.02RMB million, year-on-yearIncrease of 450.20%。

Centralized procurement is forcing orthopedic companies to seek new growth opportunities. In recent years, these companies have been exploring new fields, markets, and technologies while promoting cost reduction and efficiency improvement.

Some companies enhance industry competitiveness and broaden business boundaries through investment and mergers and acquisitions.

Last year, Sanyou MedicalCompletedFinishedBusiness Registration Procedures of Litian Bio，The latter is itsWith KoreaEnterpriseJoint Investment in New EstablishmentTheA joint venture company researching and innovating in the field of regenerative medicine, including cellular biomaterials and related products.

Following the acquisition of JSB CompanyLater, Wego Orthopedics last year alsoEquity ParticipationFinishedWeiying Intelligence,The Future WillIntroduction of Weight-Bearing Cone BeamCTImaging Product Series，And localize production and sales promotion in China to expandItsIn the field of precise diagnosis and planning for orthopedic diseases, a full-chain digital orthopedic platform has been built.

Hemodialysis: Full Implementation of Centralized Procurement, Market Further Expands

The impact of the centralized procurement of hemodialysis is continuing to unfold, and overall performance in the reports was relatively positive last year.

Mountain Beyond Mountain2025YearRevenue8.07100 million yuan, a year-on-year increase of42.24%；Non-recurring Net Profit1.39100 million yuan, a significant year-on-year increase143.21%。Weigao HemodialysisRevenue37.69100 million yuan, a year-on-year increase of4.57%; Attributable Net Profit4.82RMB billion, a year-on-year increase of7.33%。Sanyou MedicalRevenue from Blood Purification Products13.61RMB billion, a year-on-year increase of11.80%。

As one of the important methods for treating ESRD, hemodialysis has a rigid demand. Currently, the penetration rate of hemodialysis treatment in China still has significant room for improvement.

With the centralized procurementTheContinuously implement,The professional division of labor in the blood purification industry will further diverge. Leading enterprises with strong financial strength, R&D capabilities, operational capabilities, and warehousing and logistics capabilities will occupy a higher market share, and industry concentration is expected to increase.。