Have you ever thought of the top 50 medical device companies? Which medical equipment manufacturers are providing the best services and how can they help you in leveraging their benefits?

For the last few years, the medical device industry has gone through a digital transformation and is evolving with each passing day. 

This article will give you a list of medical device companies in 2023 from all across the world and solve your queries about 

• Most trusted best medical device companies across the globe
• Revenues collected by Medical device company in 2021
• Employee-size of the respective medical device company
• Total R&D spent by medical device companies in 2021
• Top Medical equipment manufacturers based on Market Cap

How did we shortlist the top 50 medical device companies?

Based on the annual reports released by Publicly traded medical device companies at the end of their Fiscal years, which contain the reports on financial data, Market-Cap, Revenue cap, and annual profits, we compiled the medical device company list 2023.

What is Market-Cap?

Market cap refers to the value of a company’s shares of stock. And there are different categories of market cap.

All the Medical equipment Companies are classified based on these Market –Cap ranges as follows:

• Micro-Cap-Medical device companies:   $50 million – $300 million.
• Small-Cap-Medical device companies: $300 million – $2 billion
• Mid-Cap-Medical device companies:  $2 billion – $10 billion.
• Large-Cap-Medical device companies: $10 billion – $200 billion.
• Mega-Cap-Medical device companies : > $200 billion.

Top 50 Medical Device Companies – TakeAway

• Find out the smallest to largest publicly traded medical device companies in which you might want to invest or build a new partnership to scale up your business

• In discovering the market share and cash flow of top medical device companies that are required for business prospects. 
• This report would help in accessing the latest technologies used by the medical device industry to transform healthcare services. 
• It will enable you to choose the right and strategic partner to scale up your business process. 
• You can discover the biggest market players in the medical device industry and how their innovations and strategies are making an impact. 
• With this research, you can review the company’s profile, and get product information, financial data, and annual reports. 
• By using this research, you can get the company’s profile, market cap, revenue cap, and website information at one glance. This will eventually benefit you in deciding which company is best suited for your business prospects. 

Let’s move forward to our list of the best medical device companies. 

Top 50 Medical Device Companies in 2023

Johnson & Johnson (NYSE: JNJ)

Johnson & Johnson is a multinational pharmaceutical company that is headquartered in New Brunswick, New Jersey.

The company was founded in 1886 and develops medical devices, pharmaceuticals, and consumer-packaged goods.

The Johnson & Johnson brand includes some household names of medication and first aid supplies such as Band-aid, Tylenol, and Johnson’s baby products.

This company comes as the top biotech firm in the world with its largest market cap.

The corporation consists of 250 subsidiary companies operating in 60 countries and selling products in over 175 countries, having more than 132000 employees sizes. 

Novartis AG (NYSE: NVS)

Novartis is one of the biggest pharmaceutical companies that designs, manufactures, and sells medical devices across a wide range of applications.

It is a Swiss multinational pharmaceutical company headquartered in Basel, Switzerland.

By revenue, this company is the third-largest Swiss company and has the largest market cap size and sales with an employee size of 103941.

The company aims to provide excellent eye care products for cataracts, refractive surgery, and glaucoma. Among all its applications, it is best known for its Alcon Vision.

Website: https://www.novartis.com/

Abbott Laboratories (NYSE: ABT)

Abbott Laboratories, founded in 1888, manufactures well-known medical devices, diagnostics, and nutritional products. It is a multinational healthcare corporation headquartered in Illinois, United States.

At present, the company is doing business in more than 150 countries all across the world.

Besides, this massive firm operates in seven industrial divisions-Abbott molecular diagnostics, Abbott Point of Care, Abbott diabetes care, established pharmaceutical division, Abbott vascular care, Diagnostic Division, and Abbott nutrition international.

Website: https://www.abbott.com/

Medtronic PLC (NYSE: MDT)

Medtronic PLC is an American Irish medical device company with headquarters in Dublin, Ireland. But it also has operational and executive headquarters in Fridley, Minnesota in the US.

This company operates in more than 140 countries, having an employee size of over 101000 people.

Medtronic is one of the largest publicly traded medical equipment companies that provide excellent patient care and monitoring devices of all kinds.

These are medical devices for cardiovascular, general surgical equipment, diabetic and neurological accessories. 

Website: https://www.medtronic.com/

Baxter International (NYSE: BAX)

Baxter International is a multinational American company with headquarters in Deerfield, Illinois. Besides, the company operates in North America, Africa, the Middle East, Asia Pacific & Europe.

The company aims to provide dialysis therapies and services such as peritoneal & hemodialysis.

Furthermore, the company also provides organ support therapies such as IV therapies, infusion pumps, sterile IV solutions, drug reconstitution devices, and intensive care unit services. 

Website: https://www.baxter.com/

Danaher Corporation (NYSE: DHR)

Danaher Corporation is a multi-industry medical equipment manufacturer that manufactures, markets, and provides professional services in medical, industrial, and commercial products.

The company has its headquarters in Washington, D.C., and has an employee size of 71000. Danaher is also ranked 161st on the Fortune 500 medical device list.

The company operates in four main areas-life sciences, diagnostics, environmental, dental & applied solutions. 

Website: https://www.danaher.com/

General Electric (NYSE: GE)

General Electric is a multinational American company that has its headquarters in Boston, U.S. In 2020, this company was ranked the 33rd largest firm among the Fortune 500 rankings.

And the company is operating through multiple segments such as aviation, healthcare, digital energy, and venture capitalizing.

But the company has expertise in industry-leading innovations like medical imaging & informational technologies, patient monitoring, and manufacturing technologies. 

Website: https://www.ge.com/

3M Company (NYSE: MMM)

3M is another multinational American company that manufactures medical devices, food safety tasting products, and health monitoring systems.

The company has many innovative healthcare brands such as Peltor, Petrifilm, FUTURO, Clarity, and many more.

The company has its headquarters in Minnesota, U.S. and it has an employee size of over 93510.

Website: https://www.3m.com/

Siemens Healthineers (NYSE: SHL)

Siemen healthcare is the parent company of multiple medical technology companies and its headquarters are in Erlangen, Germany.

Founded by Ernst Werner von Siemens, this company has 170 years of experience and it has provided excellent health service to more than 65000 patients all around the world.

The company enables healthcare providers to provide precision medicine and enhance the patient experience by digitizing healthcare. 

Website: https://www.corporate.siemens-healthineers.com/

Stryker Corporation (NYSE: SYK)

Based in Kalamazoo, Michigan, Stryker corporation is an American medical company that manufactures medical devices for several medical specialties.

The company manufactures a range of implant products such as trauma surgeries, joint replacement, surgical equipment, neurovascular and spine medical devices, emergency medical devices, and many more.

Stryker Corporation sells its products in over 100 countries and has an employee size of 36000. 

Website: https://www.stryker.com/

Becton Dickinson and companies (NYSE: BDX)

Becton Dickinson and Company, or BD, was founded in 1897 and is headquartered in Franklin Lake, New Jersey. The core aim of the company is to produce and sell medical devices, instrument systems, and reagents.

BD provides its service in more than 50 countries, having over 70000 employees all across the world.

At present, BD is providing its services in three segments, such as BD medical devices, BD Life sciences, and BD interventional.

Website: https://www.bd.com/

Intuitive Surgical Inc. (NYSE: ISRG)

Intuitive Surgical Inc is an American multinational company that manufactures and sells robotic products to improve clinical outcomes.

It is one of the largest producers of minimally invasive robotics-assisted producer surgery.

Besides, the company’s DaVinci surgical system enables surgeons to operate in a minimally invasive way through small incisions.

The DaVinci surgical system is embedded with a magnified 3D HD vision system with instruments that can be bent and rotated as per the requirement manually. 

Website: https://www.intuitive.com/en-us/

Allergan PLC (NYSE: AGN)

Allergan PLC is an American-Irish pharmaceutical company that has its headquarters in Dublin, Ireland.

This company manufactures and develops several brand-name drugs and medical devices in the area of eye care, central nervous system, and gastroenterology.

Allergan is an industry leader in open science and its exemplary R & D model defines its approach to bringing the required innovations for better patient care. 

Website: https://www.allergan.com/

Hoya Corporation (TYO: 7741)

Hoya Corporation is a Japanese company that is one of the Forbes Global 2000 leading companies.

This company has expertise in manufacturing a wide range of eye care and optical devices with wavefront technologies such as contact lenses, eyeglass lenses, photomasks, and photomask blanks.

Hoya corporation has its headquarters in Japan and it has an employee size of over 34300. 

Website: https://www.hoya.co.jp/english/

Boston Scientific Corporation (NYSE: BSX)

Boston Scientific Corporation is a medical device manufacturing company based in Massachusetts, U.S., and has an employee size of over 31000.

This is a medical equipment manufacturer that is used in interventional cardiology, interventional radiology, neuromodulation, cardiac surgery, vascular surgery, endoscopy, oncology, gynecology, and urology. 

Website: https://www.bostonscientific.com/

Edward Lifesciences Corporation

Founded in 1958, Edward Lifescience corporation is an American medical technology company in California, U.S.

The company has a specialization in artificial heart valves and hemodynamic monitoring.

And this company is globally engaging with patients to bring more innovative medical devices for structural heart disease and clinical monitoring.

Furthermore, the company operates in a variety of markets, including surgical valve technologies, clinical care, and transcatheter heart valves.

Website: https://www.edwards.com/gb

Koninklijke Philips N.V. (AEX: PHIA)

Koninklijke Philips is a multinational conglomerate company founded in 1997 and has its headquarters in Amsterdam.

This company is the largest producer of diagnostic imaging, image-guided therapy, patient monitoring, and health informatics.

It also provides excellent healthcare and patient care service by leveraging the benefits of technology and customer insights.

And the company serves in more than 100 countries with an employee size of more than 84000.

From prevention to diagnosis and healthcare, the company’s main aim is to provide better clinical outcomes and services. 

Website: https://www.philips.com/global

Draegerwerk AG & CO KGAA (ETRL: DRW3)

Draegerwerk AG is a German company founded in 1889 and has its headquarters in Lubeck, Germany.

The company specializes in the production of breathing and safety equipment, gas detection and analysis systems, and patient monitoring medical devices.

It has a large customer base from several hospitals, fire departments, and diving companies. The company provides its services in 50 countries and provides excellent services. 

Website: https://www.draeger.com/en_in/Home

Coloplast A/S (CPH: COLO-B)

Coloplast is a multinational Danish company that was founded in 1957 and has its headquarters in Denmark.

The company has expertise in manufacturing, selling, and marketing the product by targeting the patients of special and private diseases.

Furthermore, Coloplast offers services in four key operational areas: ostomy care, urology care, continence care, and wound care. Along with this, it also manufactures products for wound care and skin care as well.

The company is also ranked 33rd in Forbes magazine as the most innovative company. 

Website: https://www.coloplast.com/

Zimmer Biomet Holdings (NYSE: ZBH)

Zimmer Biomet is a public trade medical device company founded in 1927 and has its headquarters in Indiana, U.S. At present, the company is operating in more than 40 countries and growing fast with each passing year.

The company’s core aim is to manufacture and sell orthopedic accessories such as knee, hip, and ankle artificial joints, and prosthetic dental devices. 

Website: https://www.zimmerbiomet.in/

Fresenius Medical Care AG & Co. KGAA (NYSE: FMS)

Fresenius medical care is a German company that provides its services through a network of more than 3800+ dialysis centers and serving 345096 patients. The company primarily deals with end-stage renal diseases.

However, it is currently providing its services in material training and patient support services, including follow-up assistance and clinical monitoring.

Furthermore, the company also has a 38% market share of the dialysis market in the United States. 

Website: https://fmcna.com/

Olympus Corporation (TYO: 7733)

Olympus Corporation is a Japanese manufacturing company that was founded in 1919 and has its headquarters in Tokyo, Japan.

This company started with the manufacturing of thermometers and microscopes. But with the evolving technologies, it has started producing optics and reprography products.

And now the company is generating most of its revenues through medical device manufacturing. 

Website: https://www.olympus-global.com/

Terumo Corporation (TYO: 4543)

Terumo Corporation is a Japanese company that was founded in 1921 by a group of scientists and Dr. Kitasato to produce thermometers.

The company initially started with thermometer production and later expanded into medical device manufacturing.

And now Terumo is producing medical disposables, cardiovascular systems, and diabetes care products.

Terumo’s excellent service adds new value to several healthcare issues, including the demand for minimally invasive technology, reduced medical error, and improved patient care.

And the company operates in more than 60 countries. 

Website: https://www.terumomedical.com/

Resmed Inc. (NYSE: RMD)

Resmed is a medical device company based in California.

The company was founded in 1989 and it primarily specializes in cloud-connectable medical devices for sleep apnea, chronic obstructive pulmonary disease, and other respiratory conditions.

It is now also manufacturing ventilators and bilevel devices to treat respiratory systems.

Furthermore, the company operates in more than 140 countries. 

Website: https://www.resmed.co.in/

Smith & Nephew PLC (NYSE: SNN)

Based in Watford, England, Smith & Nephew company is a multinational medical equipment manufacturer founded in 1856.

The company is the largest producer of manufacturing wound management products, trauma & clinical therapy products, arthroscopy products, and orthopedic reconstruction products.

At present, the company is operating in more than 140 countries and is also listed on the London Stock Exchange’s FTSE 100 index. 

Website: https://www.smith-nephew.com/

Align Technology (NASDAQ:ALGN)

Align technology is an orthodontic device manufacturing company based in California, U.S.

This is the first company that has started the production of the invisible orthodontic market with the introduction of Invisalign in 2001.

Besides, Align technology is one of the largest manufacturers of the 3D digital scanner, clear aligners, and Invisalign.

It has treated more than 9 million patients and its manufacturing aligners in many countries such as Juarez, Mexico, China, and Israel. 

Website: https://www.aligntech.com/

The Cooper Companies Inc. (NYSE: COO)

The Cooper Companies Inc is a publicly traded medical device company and has its headquarters in California, U.S.

Moreover, the company was founded in 1958 and it has expertise in manufacturing medical devices, fertility, and genomic products for women’s health care.

The company has an employee size of more than 12000 and consists of two business units: Cooper vision and Cooper surgical. 

Cooper Vision manufactures contact lenses, and optical accessories and designs products that solve optical vision like ocular dryness, fatigue, and astigmatism.

And Cooper Surgical manufactures medical devices and advances the healthcare system by providing a portfolio of products.

Website: https://www.coopercos.com/

Teleflex Inc(NYSE: TFX)

Teleflex is an American healthcare provider of medical devices in a wide range of procedures such as clinical care and surgery.

At present, the company is operating through six segments: Anesthesia North America, Vascular North America, Surgical North America, Middle East, Africa, Europe, Asia, and original medical device manufacturing and development services.

The company is operating in more than 40 countries and has an employee size of more than 12000. 

Website: http://www.teleflex.com/

Cardinal Health Inc. (NYSE: CAH)

Cardinal Health is a multinational American company based in Ohio, the U.S. Apart from this it also has its headquarters in Dublin, Ireland. It is one 14th highest revenue-generating companies in the United States.

The company has expertise in the distribution of pharmaceuticals, medical devices, surgical products & apparel, and fluid management products.

Cardinal Health Inc provides medical devices to over 75% of hospitals in the United States. Also, it is serving in more than 100000 locations with an employee size of 49000+.

In addition, this company also supports inventory management, data reporting, new product launch support, and administration services to pharmaceuticals. 

Website:  https://www.cardinalhealth.com/en.html

Straumann Holding AG (STMN: SW)

Straumann Holding offers a wide range of services and solutions for both conventional treatments and digital workflows. The company was founded in 1954 and has its headquarters in Basel, Switzerland.

It has approximately 7600 employees all around the world and it is providing its services in more than 100 countries with a network of distributors and subsidiaries.

Straumann holding has specialization in conducting research and development & supplies dental implants, biomaterial, CAD CAM prosthetics, clear aligners, and preventative industry. 

Website:  https://www.straumann.com/

Steris PLC (NYSE: STE)

The Steris PLC is an American-Irish company founded in 1958 and has its headquarters in Ohio, U.S. The company has a specialization in manufacturing surgical and sterilization products for healthcare providers.

Also, the company has an employee size of more than 12000 people.

Moreover, the company operates through four segments and these are healthcare products, healthcare specialty services, Life sciences, and applied sterilization technologies. 

Website: https://www.steris.com/

Hologic Inc (NASDAQ: HOLX)

Hologic is a medical technology company that was founded in 1985 and based in Massachusetts, U.S. The company’s main focus is providing the best women’s healthcare all around the world.

It develops, manufactures, and is a service provider in medical devices, surgical products, and medical imaging systems.

Also, the company is providing its services through four segments: Diagnostic, Breast Health, Skeletal health, and GYN surgical. 

Website: https://www.hologic.com/

Waters Corporation

Waters Corporation holds a leading position worldwide in providing complementary analytical technologies.

It is a publicly traded analytical laboratory and software company based in the United States.

Also, the company has specialized in designing, manufacturing, and providing services in liquid chromatography, high-performance liquid chromatography (HPLC), chromatography, and chemistry products, thermal analysis, and rheometry instruments. 

Website: https://www.waters.com/nextgen/us/en.html

West Pharmaceuticals Services INC (NYSE: WST)

West Pharmaceuticals Inc is a company founded in 1923 and has its headquarters in Pennsylvania, U.S.

Also, the company produces viable containment solutions, refillable systems, self-injection platforms, cartridge systems & components, intradermal delivery solutions, and contract manufacturing & analytical services. 

Website: https://www.westpharma.com/

Varian Medical Systems Inc. (NYSE: VAR)

Varian Medical System is an American radiation oncology treatment based in California and founded in 1948.

Also, this company designs and manufactures medical devices for treating cancer, and other medical conditions such as radiotherapy, radiosurgery, proton therapy, and brachytherapy medical devices.

In addition, the company also offers several therapies such as Varian particle therapy. It also manufactures the system for treating cancer by using proton beams. 

Website:  https://www.varian.com/

Dentsply Sirona Inc(NASDAQ: XRAY)

Dentsply Sirona is an American company founded in 1969 and has its headquarters in New York City.

The company has specialization in designing, manufacturing, and providing services in dental and oral health products.

It has an employee size of more than 16000 and is operating in more than 140 countries.

The company operates through two segments: medical technology and dental & healthcare consumables.

In addition, the medical device products manufactured by the company are being used in surgical and urological applications. 

Website: https://www.dentsplysirona.com/en-in

Masimo Corporation (NASDAQ: MASI)

Masimo is a global medical device company that designs, manufactures, and sells a variety of noninvasive hospital automation solutions, patient monitoring technologies, and ventilation solutions.

But the company’s core specialization is pulse oximetry, brain functioning monitoring, capnography, nasal high flow respiratory therapy, activity tracking, and neuromodulation technology for the reduction of symptoms associated with the disease.

Also, the company was founded in 1989 and has its headquarters in California, U.S.

Website:  https://www.masimo.com/

Sartorius Stedim Biotech S.A. (ETR: SRT)

It is German-based medical care of laboratory and process technologies and equipment. Also, the company operates through two segments such as bioprocess solutions, lab products & services.

The bioprocess solutions include the focus on the production of segments of filtration, fluid management, fermentation & purification processes of the biopharmaceutical industry.

And lab products & services focus on the production of lab instruments like weighing, liquid handling, microbiology, and centrifuges. 

Website: https://www.sartorius.com/en

Fisher &Paykel Healthcare Corporation Limited (NZE: FPH)

Fisher & Paykel healthcare corporation is a publicly-traded company founded in 1934 and has its headquarters in New Zealand.

Also, the company is operating in more than 120 countries worldwide.

It designs, manufactures, and markets the products and systems that are used in respiratory care, acute care, and the treatment of obstructive sleep apnea. In addition, the company is also offering services in hardware and consumables.

Some of its quality medical devices include respirator humidifiers, breathing circuits, reusable chambers, and breathing circuits. 

Website: https://www.fphcare.com/in/

Cochlear Limited (ASX: COH)

Cochlear is an Australian company founded in Sydney, Australia in 1981. The company is operating in almost 100 countries all around the world having an employee size of 4000 people.

This is one of the medical equipment companies that designs, manufactures, and markets the Nucleus Cochlear plants, the hybrid acoustic plants, and the Baha bone conduction implant.

Also, the company is operating through three segments: EMEA, Asia? Pacific and Americans. 

Website: https://www.cochlear.com/in/en/home

Abiomed Inc (NASDAQ: BAMD)

Abiomed is a publicly-traded medical device company that has its headquarters in Massachusetts, and also has three additional offices two in Germany and one in Tokyo.

The company has specialization in manufacturing and marketing internal & external implantable circulatory support medical devices.

Also, the main focus of the company is leveraging the benefits of technology and bringing groundbreaking solutions in enhancing patient clinical outcomes with the main emphasis on cardiac health issues. 

Website: https://www.abiomed.com/

Asahi Intecc Co. LTD. (TYO: 7747)

Asahi Intecc is a Japanese company that is expertise in manufacturing ultrafine stainless steel ropes for catheter treatment.

Also, the company was founded in 1976 and has its headquarters in Nagoya, and has six branches worldwide.

In addition, the company also produces medical devices for cardiovascular treatments. 

Website: http://www.asahi-intecc.co.jp/

Hill- ROM Holdings Inc. (NYSE: HRC)

Hill ROM Holdings Inc is a medical equipment manufacturer based in Chicago, the U.S. founded in 1969. Also, the company partners with healthcare providers and provides the best healthcare solutions.

It operated through five core segments: wound care protection, patient monitoring & diagnostics, surgical safety and efficiency, respiratory health, and advanced mobility solutions. 

Website:  https://www.hillrom.com/

Amplifon SPA (BIT: AMP)

Amplifon SpA is an Italian-British company founded in 1950 and has its headquarters in Milan, Italy. During World war II the company started producing medical devices for people who experienced hearing issues.

Since then it has been designing personalized herding aid medical devices. Along with this, it offers a range of medical devices such as invisible hearing amplifiers, tiny electronic instruments, that address a small to a wide range of hearing issues.

In addition, the company also has a strategic partnership with the following brands:  Miracle-Ear, Beter Horne, and Dialogue. 

Website: https://www.amplifon.com/

Haemonetics Corporation (NYSE: HAE)

Incorporated in 1971, Haemonetic Corporation is a global provider of blood and plasma supplies and services.

Also, the company is operating its services in Japan, EMEA, North America Plasma, and others.

The company has specialization in provisioning plasma collection software & systems and enabling plasma fractionators to make pharmaceuticals.

In addition, it also has medical devices for measuring hemostasis that bring out better clinical outcomes in managing critical bleeding cases. 

Website: https://www.haemonetics.com/

Shandong Weigao Group Medical Polymer Company LTD. (HKG: 1066)

Shandong Weigao group medical is a Hongkong company that firstly engaged in research & development and the sale of single-use medical devices.

Some of the best medical products include infusion sets, syringes, blood transfusion sets, and blood bags.

Also, the company operated through three segments: Orthopedic products, Single-use medical devices, and blood purification products. 

Website: http://en.weigaogroup.com/

Insulet Corporation (NASDAQ: PODD)

Incorporated in 2000, Insulet Corporation is a global company headquartered in Massachusetts, U.S.

The company has specialization in designing, manufacturing, and marketing medical devices such as Omnipod Management systems for people with insulin-dependent diabetes.

By using the Omnipod Management system helps patients to get rid of a separate glucose meter, and also provides virtually pain-free cannula insertion. 

Website: http://www.insulet.com/

Globus Medical Inc. (NYSE: GMED)

Globus Medical Inc is an American medical equipment company based in Pennsylvania.

Also, the company has specialization in manufacturing, designing, and marketing medical devices for patients suffering from musculoskeletal disorders.

In addition, it is also offering its service in producing orthopedic implants including spine, artificial joints, and trauma.

And this company is providing groundbreaking solutions to enhance patient care and clinical outcomes. 

Website: https://www.globusmedical.com/

Getinge AB (CPH: GETI-B)

Getinge AB is a global medical service provider company founded in 1904 and has its headquarters in Sweden.

Also, the company is one of the leading healthcare providers that work for enhancing the patient experience and clinical outcomes.

The company has its operation in equipment and systems in life sciences and healthcare.

In addition, the company has an employee size of more than 10500 people. 

Website: https://www.getinge.com

Tandem Diabetes Care Inc (NASDAQ: TNDM)

Tandem Diabetes Care is an American medical equipment manufacturer that was founded in 2006 and has its headquarters in California, U.S.

The company has expertise in designing, manufacturing, and selling medical devices for people experiencing insulin-dependent diabetes. 

At present, the company is producing and marketing more than three insulin pump products which include Insulin t: slim Insulin delivery system, t: flex Insulin delivery system, and t: slim G4 Insulin delivery system

Frequently Asked Questions On Medical Devices

The post Top 50 Medical Device Companies In 2023 – Based on Total Revenue and R&D spend [Free List] appeared first on Ampliz Blog.

Are you looking to liquidate the assets that are no longer in use so that you can invest in the required modern technology machines?

Getting rid of the equipment that you no longer require will free up some space and fetch you some money that you can invest in machines that can reform your facility.

But where do you find such buyers? Is there anyone who buys used medical equipment?

If you are looking for the answers to these questions, then you would be surprised to know that there are many people who are ready to buy your used medical device. 

Read the blog till the end to know the buyers of used medical equipment and why they buy it.

Let’s start with the types of medical equipment buyers.

Types of Used Medical Equipment Buyers

Finding the right buyer for your used medical device is no longer challenging, as there are many people who are looking for used medical equipment.

As per the experts, the pre-owned medical device market is expected to reach $8.7 billion by 2025. The types of people that may need your pre-owned medical device include Original Equipment Manufacturers (OEM), Healthcare providers, Private companies, and charities. 

Let’s understand a bit about each one of these buyers.

Original Equipment Manufacturer(OEM)

One of the types of buyers you can target is OEMs. 

Many OEMs are looking to repurchase used medical equipment which they can refurbish and sell to their customers. Some OEMs have offers such as buy-back, or trade-in that you should take advantage of for selling your used medical device, but you won’t get enough value.

Healthcare Providers

Healthcare providers such as other hospitals also sometimes buy used medical devices directly from other hospitals. So look for the healthcare providers who may be interested in buying your products.

Private Companies

The other more convenient option for you is to sell to private companies. There are plenty of companies that purchase used medical equipment and then sell them as used machines or refurbish them. 

The major benefit of selling to private companies is that you have full control over the selling process, these companies take a very small amount of commission from it. Collaborating with a medical software development company can streamline the process of managing and tracking used medical equipment, enhancing efficiency.

Charities

The last option doesn’t benefit you much in terms of monetary gain but can give you some opportunity for social cause and goodwill. But you need to be so sure of the authenticity of the organization as they sometimes resell it and make money instead of using it for a good cause. 

Now let’s see some private companies that provide you with the best value for your used medical device. 

Among a wide array of buyers available, it’s tough to choose the right buyer that pays you the right value for your medical device.

And therefore there are some factors that you should consider while choosing the right buyer to sell your product.

Important Factors to Consider When Choosing a Buyer

When you are ready to sell your used medical device, it is important to choose the right buyer.

There are a few factors you should consider when making your decision:

The price offered: 

Make sure you compare offers from different buyers to get the best price for your device.

The terms of the sale: 

Some buyers may require you to sign a contract or agree to certain terms before they will purchase your device. Be sure to read over any contracts carefully before signing.

The reputation of the buyer: 

Do some research on potential buyers before making a deal. Make sure they have a good reputation and will be able to follow through on their offer.

Your personal preference: 

Ultimately, you should choose the buyer that you feel most comfortable with. If you have any questions or concerns, be sure to ask them before making a decision.

Now that you are clear about what you should look for in the buyer, let’s review the different options available to you.

Buyers of Used Medical Equipment

1) Soma Tech Intel

If you are looking to sell used medical equipment that too without a middleman and with hassle-free logistics, then Soma Tech Intel is the best place for you.

They purchase the used medical device from hospitals, surgery centers, sales representatives, biomedical and clinical engineers, material managers, supply chain directors, etc. 

They buy the pre-owned machines that you sell, refurbished them, and then sell them to their customers.

Some of their top requested items are

• Infusion Pumps
• C-arms
• Anesthesia Machines
• Electrosurgical units
• Surgical Tables
• Heart-lung machines

etc. 

2) All states M.E.D

All states M.E.D. is another private company that buys your used medical device with the greatest possible value and helps you to free up your space.

In return for your used medical device, they provide you with either money or new or furbished equipment. 

Isn’t it a win-win situation for both you and your buyer!!

3) AA Medical Center

In the mission of providing access to quality, affordable, and used medical equipment to doctors and surgeons around the world, AA Medical Centre buys the used medical equipment from you in return for the highest value possible.

This way you can free up your space for the most required machine. 

4) Gumbo Medical

Gumbo Medical is another private company that helps you to get rid of your used and no more required medical devices. Partnering with this company will help you 

• To get fair compensation for your medical device
• Assist you in removing your equipment at no cost 
• You also do not need to worry about disposing of, recycling, or selling the equipment
• You don’t have to worry about the shipping expenses

5) Merzy

Merzy is another private company that buys used medical equipment from you and sells it to customers. They provide you with full transparency of the entire bidding process.  

When you are choosing Merzy to sell your used medical devices:

• You gain the maximum value of your device by getting exposure to the entire Merzy buying network
• You can easily post and manage your items with their guidance in the app
• There is complete transparency of buyers, sellers, and the final closing auction price

6) Gopher Medical

Gopher Medical is yet another private company that buys medical devices from you in return for the best price. 

7) AKW Medical

AKW is another private company that buys your used medical devices. With Around 50 years of experience, it buys your used medical device at utmost transparency and in return of great value. 

AKW Medical buys all kinds of medical products that includes 

Autoclaves, patient monitors, electrosurgical units, tables, chairs, microscopes, surgical lights, and more.

Why Are People Buying Used Medical Equipment?

The used medical equipment market is surprisingly robust, with a wide range of buyers seeking good deals on everything from exam tables to x-ray machines. The reasons for this are varied, but most buyers have one thing in common: they want to save money.

For many small clinics and doctor’s offices, buying used medical equipment is the only way to stay within budget.

With the high cost of new medical equipment, it’s simply not possible for many businesses to keep up with the latest technology. By opting for used equipment instead, they can get the same quality at a fraction of the price.

Another common reason people buy used medical equipment is that they need specific items that are no longer being manufactured. This could be due to a change in technology or regulations, but it means that certain older pieces of equipment are suddenly precious. If you have a need for something rare or hard to find, the used market is often your best bet.

Finally, some people simply prefer used goods over new ones. There’s something about a well-made piece of equipment that has been around for a while that just has more character than a brand-new model fresh off the assembly line. Whatever your reasons for considering used medical equipment, remember that there are plenty of others out there with similar needs and budgets. With a little patience and research, you’re sure to find exactly what you’re looking for at a price you can afford.

Conclusion

Selling unused pre-owned medical devices is the best decision you can make that helps you to liquidize your assets, free up space, and you can get trade-in credit for new equipment. 

Though you have multiple options available to you in terms of buyers, choosing the right one is a must.

Do your research well,  compare the price, and reputation of the product to get the best deal for your product.

Frequently asked Questions about Medical Equipment

The post Who Buys Used Medical Equipment appeared first on Ampliz Blog.

Finally, the day has come when your company is ready to launch the product and wanted to sell medical devices in which any hospital will readily invest. 

After months of hard work in the development of the product and then approval from the FDA, you are ready to take your products in front of your prospects.

But you are clueless about 

• How to reach your targeted hospital
• How you can effectively convey your value proposition
• Identifying and reaching out to decision-makers with purchasing power.

 But let us tell you you are not alone.  Many medical sales reps are facing the same issues. 

And that’s why to help you to overcome these challenges, expand your target market and generate more revenues, we have written this blog. 

In this blog, we are going to share full-proof tips for selling medical devices to hospitals that have helped our previous clients to generate more revenues.

Before that let’s understand how hospitals buy their medical supplies.

The hospital’s material management department determines the supplies that are required. Then they discuss with the clinical staff of the hospital about necessary medical supplies for patient care. 

Once they make the list of all necessary supplies, they will start looking for vendors with proper licenses.

It would be great if you are already in their list and for that you need to make sure you reach out to them and to do that you can use an email database provider.

Yes, you must have a license to sell medical supplies.

7 Strategies For Selling Medical Equipment To Hospitals

“It is not what you sell, it’s how you sell and why you sell”. 

The ‘how’ and ‘why are very important aspects to convince your prospects to buy from you. There must be many people who are selling the same product with probably the same features and at the same price. 

But your purpose of selling and your way of selling differentiate you from them.

And that’s why here we are going to discuss how to sell products to hospitals and IDNs.

These methods will definitely help you to stand apart from competitors and make more sales.

1) Know and understand your target market

The only way to close more deals, and make more sales is to sell to only those who need your product. If you try to sell your product to someone who doesn’t require it, or who doesn’t have the budget to purchase it, they won’t buy it. 

You must segment your market into territories and focus on high-value accounts that are in need of your products.

To understand which hospital to target, ask yourself certain questions like

• Who are the physicians at the facility
• What kind of diseases do they cure
• who are the patients

For example, you are selling a vitrectomy machine used in cataract operations. In that case, you must focus on ophthalmologists who are doing a large number of cataract surgeries and have the budget to invest in the product.

Targeting every ophthalmologist will not make any sense.

2) Demonstrate your complex product

Now that you are aware of your target audience, the next step is to fully demonstrate your product. You just can’t explain the features and benefits verbally.

To gain their trust and make them fully understand your product you must demonstrate to them the working of your product.

You must be thinking, how would you carry your big large instrument to the prospect’s place, right? You don’t need to carry that. 

You can take the help of advanced technology like Medical animation, Augmented reality, or virtual reality to show the operation of your medical device.

This improves your scope of making sales, by helping your prospective physicians to get a clear picture of the product and how it will work in their facility.

3) Use performance metrics to show the value proposition

You have shown your product’s live demo with the help of modern technology to convince your prospects. But still, they would be in a dilemma, whether to invest in your product or not. 

Till now you have followed the best ways to convince your prospects to invest in your product. Now it’s time to show why they should invest. 

Remember, we told you in the first line it’s not what you sell, it’s why you sell. You must demonstrate performance metrics to your prospects to show the value proposition. This would help you to stand apart from your competitors.

You can use performance metrics like

• Improved patient care
• Reduce their length of hospital stay
• Reduced your cost.

4) Be engaged with the customer through the entire cycle

“If you will not take care of your customers, your competitors will”: Bob Hooey

The secret of closing the deal faster is to build trust and build genuine relationships with your prospects. Don’t just focus on selling your product anyhow, focus on how you provide the value. And for that, you need to be engaged with your prospects at every step of the sales cycle. 

This includes continuous communication,  providing them with support and guidance genuinely. You can visit them frequently, respond to their emails quickly and stay connected with them through virtual meetings.

This way you can stay connected with them and develop a strong relationship with them.

5) Show you are aware of their pain points

The one thing that quickly helps you to close the sales deal is talking in their language. 

Yes, talking in their language is so important to convince them to buy from you. But how do you do that, right? You can talk in their language only when you can understand their pain points. 

And when you talk in their language they understand that you understand their problem and you are actually helping them to solve it with your product. 

For example, you have a product that helps doctors to do online consultations. At that time you must explain that this product will overcome the pain of losing the flow of patients due to covid restrictions. Moreover, they can provide immediate consultation virtually without making patients wait for long. 

This will improve patient satisfaction, and they don’t have to wait in long queues. Here losing patients due to covid restrictions and patients having to wait for longer are some of the pain points of any doctor. Talking about these issues makes them realize that you understand their problems.

6) Focus on patients

Focus on the ultimate outcome. As a medical device sales company, you will grow when your prospects grow. And your prospects will grow by satisfying their customers. 

Here the end user is the patient, and that’s why we focus on and emphasize the benefits of patients. This will help them to trust you and buy from you.

7) Take help from the database provider

Now you know how to convince your prospects to buy from you. But the question arises how would you reach prospects to convince them?

You must have tried many methods to get qualified leads like searching over google, searching over LinkedIn_, and trying different digital marketing strategies, but still running off enough leads, right?

Then it’s time to contact some healthcare data providers that avail you of targeted, accurate, and updated data on hospitals.

Not sure where to find such a data provider? Your search for targeted, accurate, and updated data on hospitals ends at Ampliz.

Yes, Ampliz provides you with a comprehensive database of 9000 hospitals that are accurate, targeted, and real-time updated. 

To know more about how Ampliz can help you to sell medical devices to hospitals fill out the below form. We will get in touch with you at earliest.

How To Sell Medical Devices To IDNs

1) Collect the right information

Like hospitals, approaching the IDN you will have to follow the same process that begins with knowing them better.

Before approaching them get all the necessary information that confirms whether they become your customer or not.

The information like:

• Total number of physicians
• Number of facilities
• Facility type
• Facility budget

2) Engage with KOLs

While selling to IDNs, you have to pitch VP or c-suite executives, who are difficult to reach out to.

And therefore must look for a Key Opinion Leader in the network. KOLs are generally well-respected physicians within their medical community.

Developing a good relationship with them helps you to strengthen your message and sales strategy. 

Such research demands a lot of effort. You can rely on Ampliz for such in-depth information if any facility. Ampliz provides you a 360-degree view of your prospective facility. 

With Ampliz healthcare intelligence you can know your prospects better, pitch them better, and close deals faster.

Conclusion

Selling your medical device to the hospital is a complex process because of so many reasons. Selling a product that is directly related to human health and meeting sales goals often makes you feel overwhelmed. 

But following the right strategy will definitely help you to generate more revenue by selling medical devices to hospitals and IDNs.

Frequently Asked Questions on Selling Medical Equipment

The post 7 Effective Strategies To Sell Medical Devices To Hospitals And IDNs appeared first on Ampliz Blog.