Before the New Year, I introduced to everyone the latest released 2024 Global Top 100 Medical Device Companies list by Medtech Insight, in which ten Chinese medical device companies made it onto the list.

The companies are Mindray Medical, United Imaging Healthcare, Weigao Group, Xinhua Medical, Lepu Medical, Yuwell Medical, MicroPort, Autobio Diagnostics, BGI, and Snibe Co., Ltd.

Apart from the Chinese medical device companies that have attracted attention, in which countries are the remaining 90 located?

Which country has the most medical device companies on the list?

From a global perspective, how strong is China's medical device industry?

What should medical device professionals do in the face of an industry downturn?

Let's read and analyze the 2024 Global Top 100 Medical Devices list with some thoughts!

1. Which countries have made it to the global top 100 in medical devices?

After categorizing the latest Global Top 100 Medical Devices list by the headquarters' location, it shows that a total of 16 countries have entered the global top 100 in medical devices.

They are: the United States, the European Union (Germany, UK, Sweden, France, Denmark, Netherlands, Italy, Belgium, Spain), Japan, China, Switzerland, Australia, Canada, and New Zealand.

(1) The country with the most companies on the top 100 list is the United States, with 46, occupying half of the global medical device market.

Not only does the United States have a large number of companies that make it to the global top 100 list, but their rankings are also very high, which sufficiently demonstrates the prosperity of the U.S. medical device industry!

(2) The second-ranked region is the EU, with a total of 20 medical device companies from its member states making it into the global top 100 in healthcare.

The country within the EU that has the most entries on the top 100 list is Germany, with 6 companies, followed by the UK and Sweden, each with 3 companies.

(3) The third-ranked country is Japan, with 15 medical device companies making it into the global top 100.

(4) China ranks fourth, with 10 medical device companies making it to the global top 100.

(5) Switzerland ranks fifth, with 5 medical device companies on the list.

2. How does China's medical device industry rank globally?

In addition to the number of countries entering the global top 100, the top 50 is also a very important indicator, representing the strength of each medical device company.

From the table, it can be seen that in the top 50 global medical devices, the United States accounts for more than half. It is no exaggeration to say that the United States leads the development of the global medical device industry and dominates the technological trends of global medical devices.

The European Union, ranking second, has 11 companies in the global top 50, demonstrating a formidable presence.

Japan, which ranks third, has 7 companies in the global top 50.

China, Switzerland, and Australia, ranked fourth, fifth, and sixth respectively, each have only 1 company in the global top 50.

The United States, the European Union, and Japan, which rank in the top three, all have more than 50% of their medical device companies that are among the global top 100 also appearing in the top 50. In contrast, China, with just one company in the global top 50, holds a share of 20%.

This indicates that there is still a significant gap between the overall strength of China's medical device industry and the world's top levels, especially in the field of high-end medical equipment, where more efforts are needed to catch up!

3. Industry Downturn, where should medical device professionals go?

Although there is still a significant gap when comparing China's medical device industry with the global top level, if the EU countries are considered separately, China's ranking by the number of companies on the top 100 list would rise from fourth to third globally.

China is the world's second-largest economy, with the world's second-largest medical device market and industry scale. The objective conditions determine that the future of China's medical device industry will not be poor!

The current gap is also the potential for the future.

It can be foreseen that with the rise of Chinese technology and the development of the medical device industry, companies entering the global top 100 and top 50 will surpass the current EU region.

2024 is a harsh winter for China's medical devices, but still, 4 new Chinese medical device companies have entered the global top 100. This is enough to show the huge development potential of China's medical device industry!

In 5-10 years, we can boldly envision that more than 20 of the top 100 global medical device companies will come from China, and at least 10 Chinese medical device companies will be among the top 50 globally.

In 5-10 years, we can boldly envision that more than 2020 of the top 100 global medical device companies will come from China, and at least 1010 Chinese medical device companies will be among the top 50 globally.

2024 saw a chill in the medical device industry, but there is already a trend of recovery in 2025. I believe that after the trough, an upward trend will follow. Only by enduring the winter can we transcend the cycle.

As a researcher and developer in the medical device industry, during the low period of the medical device industry, it is even more important to calm down, accumulate oneself, and delve deeply into technology.

The long-term positive trend of China's medical device industry remains. Only by continuously improving oneself can one reap abundant fruits when spring comes!