Navigating the medical device sales industry can be a daunting task, with countless companies vying for your attention. Did you know that the U.S holds over 40% of the global medtech market? This article serves as a comprehensive guide to help you find the best players in this booming industry.
Key Takeaways of Best Medical Device Sales Companies
- Many top companies are in the medical device sales field. Medtronic, Johnson & Johnson, and Abbott Laboratories are some of these.
- These firms sell many kinds of health tools. They also create new devices to improve patient care.
- Jobs in medical sales are good because you can make a lot of cash. Some jobs even give extras like a car or phone!
- Some big companies specialize in areas like diagnostic equipment and surgical tools. Others focus on monitoring and patient care devices.
What is a Medical Sales Company?
A medical sales company is a business entity that specializes in marketing and selling medical devices ranging from diagnostic equipment to surgical instruments manufactured by healthcare tech firms, playing an integral role in innovating health solutions and improving patient outcomes.
Types of medical devices sold
Medical sales companies sell a wide variety of medical devices. These might include:
- Orthopedic devices: This could be things like joint replacement parts or tools to help with bone injuries.
- Diagnostic tools: Some companies make machines that test blood or urine to find out what is wrong with the patient.
- Surgical instruments: These are items that doctors use in surgery, like scalpels and clips.
- Patient care equipment: Things like beds, wheelchairs, or lifts fall into this group.
- Lab gear: Companies may sell devices used in a lab setting, such as microscopes and slides.
- Dental gear: Some firms focus on tools for dentists, like tooth drills or dental chairs.
- Wound dressings: This includes bandages and wraps for wounds.
- Mobility aids: Canes, crutches, and walkers would be part of this category.
- Home health products: These are items patients can use at home, such as blood pressure cuffs or glucose meters.
Importance of medical sales
Medical sales are very important. They make sure doctors and nurses have the tools they need to help patients. With medical sales, new and better equipment can reach hospitals fast.
In medical sales, people get to work with cutting-edge technology. These devices change how we fight diseases. Working in medical sales means helping bring these changes into reality.
Top 10 Medical Device Companies in the World
In an industry that is perpetually evolving, Medtronic, GE Healthcare, Johnson & Johnson MedTech, Stryker, Teleflex, CONMED, Abbott Laboratories, Boston Scientific, Siemens Healthineers and Zimmer Biomet have solidified their positions as the top 10 medical device companies worldwide due to their cutting-edge technology and vital contributions to improving patient care.
Medtronic
Medtronic leads the pack in medical device sales. This giant makes lots of money. They reported a whopping $30.12 billion in income for 2022 alone! Many expect them to stay at the top spot next year too.
Medtronic pours a lot of money into research and development (R&D). By doing this, they create new devices and tech to sell. The company’s reach is wide, covering over 160 countries across the globe.
Plus, they employ more than 90,000 people worldwide! Medtronic has many products on offer for buyers from all walks of life.
GE Healthcare
GE Healthcare holds a proud 7th spot among the world’s top medical device firms. They have a big mix of products in this field. Their rank is just above Stryker on the list. People see them as a main player in the business of medical devices.
Johnson & Johnson MedTech
Johnson & Johnson MedTech holds a top spot in the world of medical devices. It stands tall among key players like Medtronic and Siemens Healthineers. This big company is part of the Big 100 list because it earns so much money.
You can find its name on many types of healthcare items. The reach of Johnson & Johnson MedTech goes far into the healthcare industry. They sell their goods all over the globe, making them one of the top global companies.
Stryker
Stryker is a star player in the world of medical devices. In 2022, it got a giant place in the market. It made $7.0 billion in sales and ranked #2 globally. People respect its products and how they help doctors save lives every day.
Other companies look up to Stryker because of its strong role in medical tech growth. Its high rank shows Stryker’s power in the industry.
Teleflex
Teleflex stands high in the medical device industry. The brand shares its rank with top companies in the 2022 Big 100 list. Well-known brands like Arrow and UroLift are part of Teleflex.
Their tools touch many medical fields, from surgery to cardiac care and beyond. It’s a big player, but not in the world’s top ten for 2023. Selling or marketing for Teleflex means being part of a large and varied company.
CONMED
CONMED makes it to the list of top 10 medical device companies in the world. This firm uses cutting-edge medical devices and innovative healthcare solutions. Doctors all over trust CONMED because they help make patients better.
Their goal is clear to give doctors worldwide the tools they need for great patient care. As a leader in advanced medical technologies, this company stands out among global healthcare providers.
Abbott Laboratories
Abbott Laboratories stands tall among the top 10 medical device companies in the world. With a strong focus on nutrition, diagnostics, pharmaceuticals and healthcare products, they make a big impact in the global medical device industry. Their sales went beyond their forecast for 2022 which shows their strong hold in the market.
This company is well-known for both its Diagnostics and Medical Device divisions. In fact, it hit high sales numbers in these areas last year. Abbott Laboratories ranks third of all medical devices companies worldwide, showing its power and effect on health care technology.
Boston Scientific
Boston Scientific stands tall among the top 10 medical device companies in our world today. They rank as the 13th biggest firm of this kind on a global scale in 2023. This company earns respect for its heart-felt values, which find their roots in caring and meaningful change through high-grade work.
Diversity fuels their path to success, as does a spirit of victory and working together with partners around the globe. Boston Scientific’s revenue found it placed firmly among giants like Medtronic, Johnson & Johnson, Abbott Laboratories in 2022’s top ten list based on earnings alone.
The future looks bright for Boston Scientific as they look set to keep defending their solid spot within leading medtech firms.
Siemens Healthineers
Siemens Healthineers, a big name in the medical device industry, ranks third out of 100 top companies. This firm is part of Siemens, a German giant known for electric goods and automation.
Siemens Healthineers made €21.71 billion from sales in 2022. They are experts in making devices for health checks and imaging technology. Many people across the world trust their products for proper care.
The company’s advanced healthcare solutions have put them on the map as one of the best makers of medical gear.
Zimmer Biomet
Zimmer Biomet ranks high in the world’s top medical device companies. It mainly works in the United States. This company’s main focus is on orthopedic devices. They make strong and long-lasting products. Some of their items include sports medicine goods, like a hip repair system.
Top 25 Best Medical Device Sales Companies to Work for in 2024
Explore an inclusive list of the 25 best medical device sales companies to work for in 2024, based on criteria such as company culture, employee satisfaction, and opportunities for growth.
Discover why these industry leaders stand out above the rest. Continue reading to unleash key insights into your future career path in the thriving field of medical device sales.
Criteria for selection
Picking the right medical sales company to work for is vital. The selection process should not be random. Here are some of the key things to look for when choosing a company:
- Look at the company’s product line. A wide range of products can mean more chances to sell.
- Check if the company has a good name in the market. A strong reputation can help with sales.
- Review how happy other workers are at this place. Happy workers usually point to a great company.
- Look for chances to move up in your job there.
- Find out about pay and perks that come with the job.
- Learn about how they train their sales staff.
- Assess if the company’s values match yours.
- Check if the tasks fit your skills and interests.
- See how well they did last year, and what they plan for next year.
- Finally, consider which location you would have to work from or travel to.
Advantages of working for these companies
Jobs at these medical sales companies offer a lot. They make sure their staff have a place they feel happy to work in. Also, there are chances for you to go further in your job. These firms see the hard work of their people.
Added perks come with roles here too! Jobs may include a car from the company, meals and even your own phone. Such extras keep workers pleased and eager to perform at best always! High salaries also make jobs here very sought after for top sellers.
Top Medical Device Companies by Category
This section delves into a breakdown of the leading medical device companies categorized by product specializations, exploring sectors such as diagnostic equipment, surgical instruments, and home healthcare devices.
Diagnostic Equipment
Diagnostic equipment plays a big role in the health field. It helps find out what is wrong with patients. From simple tools like stethoscopes to big machines like MRIs, these items are key. Many top medical device companies make these items. Johnson & Johnson, Medtronic and others all help make this powerful gear. In 2023, diagnostic tools hold a top spot among other types of gear for hospitals and clinics.
Surgical Instruments
Surgical instruments are a key part of the medical device field. These tools help doctors to do their job well. Some companies that make these aids are huge names in health care. They include Johnson & Johnson, Stryker, and Olympus Corporation.
Surgical tools can range from simple items like gloves to complex devices like surgical implants. Also, imaging equipment helps surgeons see inside the body without having to cut it open. More research is leading to better products all the time. Because safety is very important, these devices must pass strict rules before they can be used on patients.
Monitoring and Patient Care Devices
Many top medical device companies sell and market monitoring and patient care devices. These tools check a person’s health. They can give quick reports about heart rate, blood pressure, or other body facts.
Some common names in this field are Medtronic, GE Healthcare, and Abbott Laboratories. Their devices help doctors know if their patients are sick or well. They play a key part in the growth of the global medical device industry.
By 2022, this market may be worth $437.4 billion. Patient care has been made simpler and safer with these helpful tools.
Orthopedic Devices
Orthopedic devices help people with bone or joint pain. Top companies like Zimmer Biomet and Stryker lead in this area. They sell knee and hip parts for surgery. DePuy Synthes, a part of Johnson & Johnson, also sells these parts.
Medtronic makes spine tools to help back pain. These top players earn lots of money from the orthopedic market.
Dental Equipment and Instruments
Dental equipment and instruments are a big part of the medical device industry. Top companies like Johnson & Johnson MedTech, Siemens Healthineers, and Medtronic make these tools. They make products that dentists use every day, such as drills, x-ray machines, and other items.
This area is growing a lot. Both big markets and smaller ones want more dental supplies. So, companies who make these tools should try to sell their products in many places around the world.
Laboratory Equipment
Lab equipment is vital in the medical device field. Tools for science and tests help a lot during research. They also aid in making new things. Biomedical devices, analytical instruments, lab machines are all part of this group. These tools play a big part in doing medical tests too. So, top companies place much value on them.
Wound Care and Dressings
Big companies like 3M, Smith & Nephew, and Cardinal Health lead in wound care. They make bandages and dressings for healing. These tools help to treat wounds. They also stop infections from starting or getting worse.
Moist wound healing is a new way to take care of wounds. It helps chronic wounds get better faster. More people are buying these types of products now than before. By the year 2028, people will spend $28.6 billion on this kind of healthcare tool around the world.
Rehabilitation and Mobility Devices
People with walking problems need special devices. Some medical device companies make these aids. They make things like wheelchairs and walking frames. Cardinal Health and Philips are two of the top makers of these tools.
These items can improve life for people who have trouble moving around. There is a big demand for these kinds of aids now, and this will only grow in the future. The best medical device sales companies offer many different types of mobility aids, not just for hospitals but also for use at home.
Home Healthcare Devices
Home healthcare devices help people take care of their health at home. These handy tools can track your heart rate, blood sugar, and other key signs. Devices like in-home medical equipment and personal care devices make it easier to stay healthy without going to the hospital.
Companies that sell these gadgets help many people. For example, Medtronic offers a wide range of patient care and monitoring items that you can use in any part of your house. These machines are very useful for people who need extra help or those who live far from a doctor’s office.
Telemedicine devices bring doctors to patients through video calls. This way, anyone can talk to a doctor without leaving their sofa! Portable medical devices also let patients keep an eye on their health when they travel or go outside.
Health tracking doesn’t stop when the sun goes down either. Vital sign monitors work all day and night so you don’t miss any changes while you sleep. In short, home healthcare tools have changed how we look after our bodies today.
Ophthalmic Devices
Ophthalmic devices are key in the medical device realm. Their reach goes from simple eyeglasses and contact lenses to high-tech tools like diagnostic ophthalmic devices, imaging systems, intraocular lenses and refractive surgery devices.
They help doctors see deep into the eye and treat issues that cause poor sight. The need for these tools is big with global sales landing at $63.4 billion in 2022 only to rise by 5% each year after that! It’s a market on a speedy path of growth no company should miss out on.
Dermatology and Aesthetic Devices
Dermatology and aesthetic devices are on the rise. They help fix skin issues and make people look better. Devices like lasers remove hair and wrinkles. Others treat acne or refresh the skin’s look.
Some can take tattoos off without surgery. The need for these tools is growing fast, with a big jump in sales expected by 2028. Top companies selling these devices include Aerolase, DermaQuip, and DermTech among others.
Top 10 Pharmaceutical Companies in the World in 2023
Shifting the spotlight to pharmaceutical giants, we delve into the leading names that have carved a niche for themselves in 2023. These ten enterprises not only rule the global stage but also house significant departments dedicated to medical device sales.
Focus on medical device sales departments
Big drug firms have medical device units. These units play a big role in the health world. The top 10 drug firms were named in 2023. Most of them made money from selling medical tools. Medtronic is at the front of this list in 2023. In 2022, they sold many tools and made lots of cash. This cash helped put them at the top.
Medical tool sales help many parts of health care. Sports medicine gets lots of help from these sales too. Firms like Arthrex and Zimmer Biomet give doctors what they need to heal sports injuries. These facts show that selling medical devices matters. It makes companies grow stronger and helps people get better when they are sick or hurt.
How to Choose the Right Medical Device Sales Company
When selecting the right medical device sales company, it’s important to identify your personal goals and strengths, thoroughly research the company’s product portfolio and culture, seek opportunities for career growth, and review employee satisfaction ratings.
Identify your goals and strengths
Make a list of what you want and what you are good at. This is about your goals and strengths. Your goals are things you want to do in the future. Your strengths are things you do well now.
As a medical sales rep, this step is key for success. Good sales reps know their aims and use their talents to meet them. For example, if your strength is clear talk, aim for jobs that need strong speakers.
Research the company’s product portfolio
You should look at the company’s product list. Find out what they make and sell. Look up facts about their money status and rules from the FDA. Know who buys from them and what they want. See if they meet all FDA laws. Also, find out how well-liked the company is in the market.
Consider the company’s culture and values
The culture and values of a company are important. A good culture can help a company do well. For example, Physician Sales & Service (PSS) did very well because its culture fit with what it was trying to do. Companies should make sure their culture helps them reach their goals.
A strong value system can also attract great workers to the company. Training programs show that the company cares about helping its workers learn new things. They help create an exciting place for innovation and growth.
Look for opportunities for career growth
In the medical device sales field, growth chances are vast. These chances can help in increasing job skills and income. Top-level sales jobs often offer high rewards. The more a person grows, the more they earn.
It’s smart to look at what growth paths a company offers before deciding to join it. Some companies may have an internship plan for college students. This is a good way to start a career in this industry and pick up useful skills early on.
Review employee satisfaction ratings
Check out how happy the workers are. Look for scores about worker joy at a firm. This can show if staff like their jobs or not. Worker happiness often tells how good a company is to work for.
Top Rated medical device companies often have high scores for worker joy. Firms with low scores may not be so nice to work for. It’s smart to weigh this when picking where you want your job in selling devices used in medicine.
Latest Innovations in Medical Device Technology
The medical device industry is continuously evolving with innovative technology, including the incorporation of artificial intelligence in diagnostics, improvements in surgical techniques for better patient outcomes, and the development of personalized medical devices designed to meet individual health needs.
Use of artificial intelligence
Artificial intelligence (AI) changes how we sell and use medical devices. AI gives a big boost to healthcare. In 2021, people spent a lot of money on new AI tools for health work. They used these tools mainly for making new drugs and testing diseases.
One type of AI is called artificial medical intelligence. This kind of tech can look at large amounts of health data, study it, and make good choices based on what it finds. Big players in the drug world have seen big changes thanks to AI help.
Also, many types of smart tech come together in this field. Things like big data analytics can look through lots of information fast. Deep learning lets computers learn without being told exactly what to do.
Speech and image recognition help doctors understand problems better by changing sound or pictures into words or numbers that they can study. The Food Drug Authority (FDA), a U.S agency, even keeps track now of all the medical tools out there that have some part run by an AI brain!
Advancements in surgical techniques
New surgical tools are making operations safer. Now doctors can see parts of the body better during surgery. This helps them make fewer cuts in the skin. Surgeons now use robots to help with hard tasks.
These robots can do very fine work that humans find hard to do by hand. Doctors also use computer science to plan surgeries before they start. Prosthetics have gotten better too, thanks to new tech and methods used in surgery.
Development of personalized medical devices
Personalized medical devices are now a big trend. These tools fit the needs of each person. They come from advancements in wearable tech. This tech lets people watch their own health closely.
Items like self-monitoring medical equipment and personal health tracking devices are on rise. These tools let patients have control over their own care process. The hope is that these individualized healthcare devices make people feel more involved in their treatment plan.
Also, this new step may help companies sell better to their customers’ needs and wants.
Career Advice from Top Medical Device Sales Companies
If you’re pursuing a career in medical device sales, it’s crucial to heed advice from top industry players. These companies offer insightful tips on proficiencies needed, such as leadership skills and strategies for success.
Leadership strengths quiz
Top medical device sales firms stress the need for good leaders. Strong leaders can help a team work well together. They also inspire others to do their best. A leadership strengths quiz is one way these skills can be tested and built up.
This type of test looks at how good someone is at both teamwork and motivating other people.
Many people find this quiz helpful in the medical device sales field. It paints a clear picture of their leadership talents. With these insights, you can begin improving your weak areas. If your goal is sales success, knowing your leadership qualities makes it easier to climb higher in your career path.
Tips on succeeding in medical device sales
Doing well in medical device sales needs good time management. Sales reps have busy days filled with many tasks. They must manage their time well to fit everything in. Nurturing strong connections is another vital tip for success in this field.
Lasting relationships with doctors, hospitals, and clients can lead to long-term success. Medical device companies value sales reps who put the customer first. Taking care of patient and client needs should be a top priority.
The field of healthcare sales is packed with competition. To stand out, being proactive is an important trait to have.
Leading Players in the Global Medical Device Industry
The worldwide medical device sector thrives on the innovation of pioneering giants like Medtronic, Johnson & Johnson, Abbott, GE Healthcare, and Philips. These multinational juggernauts shape the future of patient care through breakthrough technologies and therapeutic solutions.
Medtronic
As the largest global medical device company, Ireland-based Medtronic generated over $31 billion in 2022 revenue across categories like surgical tools and diabetes management. Its extensive portfolio transforms outcomes for millions.
Johnson & Johnson
Johnson & Johnson is a leading diversified healthcare company, with over $27 billion in medical device sales in 2022 spanning vision care, surgery, orthopedics and more. Its offerings showcase remarkable breadth and depth.
Abbott
Headquartered in Illinois, Abbott develops life-changing health technologies ranging from glucose monitors to neuromodulation devices. This pioneer reported over $43 billion in total 2022 sales, with standout growth in its diabetes and medical device segments.
GE Healthcare
A top 10 medtech firm, Wisconsin-based GE Healthcare empowers precision health through intelligent devices, data analytics, and imaging excellence. It supports patient care with leading medical imaging and monitoring solutions.
Philips
Philips integrates connected health technologies spanning patient monitoring, ultrasound, MRI systems and more. With over 80,000 employees worldwide, this leader aims to make healthcare more predictive, personalized and efficient.
Frequently Asked Questions about Best Medical Device Sales Companies
1. What is a Medical Device Sales Company?
A medical device sales company sells tools, machines, or products that doctors and nurses use to care for patients.
2. How can I Find the Best Medical Device Sales Companies?
You can search online, check business ratings or read reviews to find the best medical device sales companies.
3. Are all Medical Device Sales Companies the Same?
No, each company may offer different devices and have unique service policies or customer support systems.
4. Why Should I Choose a Top-Rated Medical Device Sales Company?
Choosing a top-rated company means you are likely to get high-quality devices and excellent customer service.
5. Can I Buy Directly from These Companies as an Individual User?
Some companies do sell their products directly to consumers while others only sell to healthcare professionals and organizations.
Conclusion and Summary of Best Medical Device Sales Companies Guide
The global medical device landscape is led by visionary conglomerates like Medtronic, Johnson & Johnson, Abbott, GE Healthcare, and Philips. As pioneers within their respective specialties, these giants continue redefining the frontiers of healthcare innovation.
Leveraging vast R&D resources and unmatched manufacturing capabilities, they deliver transformative solutions enabling more precise diagnoses, less invasive treatments, and improved patient experiences. Their substantial portfolios provide integrated offerings spanning surgical robots, imaging platforms, and diabetes management.
However, myriad dynamic startups and mid-size players also make valuable contributions across medical niches. Together with public health agencies and governing bodies, this expansive medtech ecosystem collaborates to enhance quality of life for billions worldwide.
Driven by the shared mission of saving and improving lives, leading medical device companies will continue shaping the future of healthcare through bold research, technological innovation, and global accessibility of cutting-edge medical solutions.
Image Credit: Dragoscondrea / 123RF.com (Licensed). Photo Illustration by: Doctor Marketing, MD.
Doctor Marketing, MD™ is a leading content creation, distribution and marketing agency. The firm works with Top Doctors and Surgeons, Healthcare Companies, Medical Professionals, Private Practices, Medical Groups and Clinics, Hospitals, Executives, and Leaders in the Healthcare Industry and specialty Medical sectors. Doctor Marketing, MD™ has built a world-class content writing team of award-winning writers, SEOs, copywriters, wordsmiths, and ghostwriters. They’ve perfected a proprietary content assembly line process, and further specialize in large-scale content production through well-crafted blog posts, articles, and medical content pieces that attract new patients.
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