Against the backdrop of the rapid development of global medical technology, it is crucial to understand the development dynamics and innovative products of the industry’s leading companies. Previously, the more influential overseas lists (Medtech Big 100, Top 100 Medical Devices, Medical Devices 25, etc.) have not comprehensively included Chinese companies in their statistics. Therefore, Siyu MedTech has developed the Global MedTech TOP 100 list based on the 2022 financial reports of listed companies in various regions to be released in 2023.
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This list is unique and scientific in that it includes the best performing medical device companies worldwide:
The inclusion of listed medical device companies from China provides a comprehensive picture of China’s position and influence in the global medical device industry.
Data source and calculation method of the list: Calculated based on the revenue in the 2022 financials released by each company before 30 October 2023 For some of the large integrated groups, only the annual revenue of the medical device section of the business is calculated; the overall transparency and reliability of the data is ensured. (Due to the different requirements for listed companies in different regions, the timing of the fiscal year is not the same, as these revenues correspond to the exact same time.)
For the definition of medical devices, it is based on China’s Regulations on the Supervision and Administration of Medical Devices.
Special Note: Chinese companies on this list include:
Myriad Medical (33rd), JiuAn Medical (40th), Weigao Group (61st), Daan Genetics (64th), Lepu Medical (66th), Mind Bio (67th), Union Medical (72nd), Oriental Biotech (73rd), Stable Medical (81st), Yuyue Medical (82nd), Kewa Biotech (84th), Xinhua Medical (85th ), Inventec Medical (87th), Shengxiang Biotechnology (89th), Guoke Hengtai (90th), Anxu Biotechnology (91st), Wicresoft Medical (92nd), Zhende Medical (93rd), Wanfu Biotechnology (95th), Kepu Biotechnology (96th), Shuoshi Biotechnology (97th), and Lanshan Medical (100th).
According to the 2023 Global MedTech TOP100, medical device companies have the following characteristics:
Revenue distribution has unevenness: 10% of the companies on the list have revenues over $100 billion, 54% are below $10 billion, and 75% are below $40 billion, fully reflecting the attributes of the medical device industry.
Geographic clustering effects are evident:
The United States is home to 40 per cent of the companies on the list; the maturity of its MedTech market, its capacity for technological innovation, and its high acceptance of new products contribute to a vibrant innovation environment.
China follows with 17 per cent of the listed companies’ headquarters; it benefits from the country’s policy support, growing market demand, and strengths in production and supply chain.
Of particular note are Switzerland and Denmark, two small countries with four firms each that are highly specialised and competitive in specific market segments.
Post time: Dec-18-2023