The medical device sector is a vital component of the overarching life sciences industry and is a major force in treating many diseases and conditions.
Technavio estimates that the global medical device industry will grow by US$120 million between 2017 and 2022, with 43 percent of that increase coming from the Americas.
Specific areas of market growth include urology and opthamology devices, as these diseases are expected to increase in presence. In terms of opthamology devices, eye disorders are expected to drive growth, while kidney-related diseases will move urology device industry growth.
Of course, none of the medical device companies working on the of devices for a variety of therapeutic including . ‘s would be possible without
Here the Investing News Network looks at the developing innovative and to treat ailments. Stocks are listed in order of cap size, with data gathered using Investing.com’s stock screener. This list was compiled on May 15, 2019.
1. Abbott Laboratories (NYSE:ABT)
Abbott Laboratories creates a wide range of products, from diagnostics, medical devices and branded generic pharmaceuticals, making its reach in the life sciences sector extensive.
In terms of the organization’s medical device equipment, Abbott Laboratories develops treatment options for vascular diseases, such as coronary and carotid stents, plus catheters and vessel closure devices. Abbott Laboratories also manufactures medical devices for the diabetes market, including blood glucose meters that provide accurate results and make the testing process easier.
The company’s other areas of focus for medical devices range from vision care to developing technologies for myopia, hyperopia, astigmatism, contact lens care and corneal health.
2. Medtronic (NYSE:MDT)
Naturally this list would not be complete without the inclusion of Medtronic, which is one of the largest global medical device manufacturing companies.
With its headquarters in Dublin, Ireland, Medtronic’s devices provide solutions for relieving pain, restoring health and working to extend the lives of millions of people globally. Its primary areas of focus include: cardiac and vascular, minimally invasive therapies, restorative therapies and diabetes.
3. Stryker (NYSE:SYK)
Much like Medtronic, Stryker is another world leader in innovation in the medical device space. The company’s products range from medical and surgical to neurotechnology and spine products.
Stryker’s portfolio includes: joint replacement products for the hip and knee; trauma and extremity implants for treatment of bone fractures, conditions of the upper and lower limbs and pelvis; surgical solutions; neurotechnology, in particular for the spine and cranial applications; robotics and navigation; and solutions for sports medicine.
4. Becton Dickinson (NYSE:BDX)
Becton Dickinson is another global medical technology company that is focused on medical discovery, diagnostics and delivery of care.
The company’s technology works to advance clinical therapy for patients and, in turn, the clinical process for healthcare professionals. In terms of its product line, Becton Dickinson’s portfolio features devices for blood and urine collection, cell analysis systems, diabetes care products, diagnostic systems, drug delivery systems, genomics, medical surgical systems and sharps disposal solutions.
5. Intuitive Surgical (NASDAQ:ISRG)
Rounding out the list of medical device manufacturers is Intuitive Surgical, which developed the da Vinci surgical system — the first minimally invasive surgical system that received clearance from the US Food and Drug Administration.
Intuitive Surgical’s goal is to provide assistance to doctors and hospitals with its robotic-assisted platforms, including the da Vinci system. Roughly 5 million da Vinci procedures have been done, while the system is used by surgeons across 50 US states and 66 countries around the world.
This is an updated version of an article originally published by the Investing News Network in 2016.
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Securities Disclosure: I, Jocelyn Aspa, hold no investment interest in any of the companies mentioned.