Top 20 Publicly Traded Medical Device Companies by Market Cap in 2025

In 2025, some of the largest publicly traded medical device companies are advancing everything from robotic surgical systems and digital diagnostics to minimally invasive therapies and breakthrough implant technologies.

Market reports suggest that the medical device connectivity market (which includes connected platforms and integrated care solutions) is projected to generate $13.4 billion by 2031 while the broader medtech industry is set to reach $694.7 billion by 2025.

Zooming in on individual sectors, the cognitive diagnostics market — fueled by brain imaging tests, electroencephalograms (EEGs) and more — is forecast to exceed $195 billion by 2030.

These figures outline a dynamic environment where leading companies are not only expanding their product portfolios but also pioneering advancements that transform patient care and operational efficiency.

Below are 20 leading publicly traded medical device companies that are elevating clinical outcomes in 2025.

Abbott Laboratories (ABT)

Abbott Laboratories, a leader in diagnostics and chronic care, recently showcased its BurstDR spinal cord stimulation therapy at the North American Neuromodulation (NANS) 2025 Annual Meeting, presenting four-year REALITY data showing sustained pain relief. In 2024, Abbot announced first patient procedures for its investigational, balloon-expandable TAVI system towards AI-guided treatment for aortic stenosis.

Intuitive Surgical (ISRG)

Intuitive Surgical, a leader in robotic-assisted surgery, saw a meta-analysis in Annals of Surgery validate its da Vinci systems, which are advanced platforms for minimally invasive procedures. The company projected a 13% to 16% increase in worldwide da Vinci procedures for 2025. They also donated $45 million to the Intuitive Foundation towards surgical training.

Boston Scientific (BSX)

Boston Scientific, a global innovator in interventional medical devices, reported net sales of $4.56 billion for 2024. They recently presented positive 36‑month primary endpoint findings from the OPTION trial — demonstrating superior bleeding risk reduction with the WATCHMAN FLX Left Atrial Appendage Closure.

Stryker Corporation (SYK)

Stryker Corporation excels in orthopedic implants and surgical instrumentation. They recently acquired Inari Medical Inc., entering the peripheral vascular segment. Stryker also announced a definitive agreement to divest its US spinal implants business and related international operations, further streamlining strategic focus.

Medtronic (MDT)

Medtronic boasts a diverse portfolio, which includes cardiac rhythm management, neuromodulation and advanced chronic care devices. The company received CE Mark approval for its BrainSense Adaptive deep brain stimulation (DBS) and Electrode Identifier for personalized Parkinson’s care and FDA clearance for its new InPen app, which tracks injection data to enhance insulin management.

Becton Dickinson (BDX)

Becton Dickinson (BD), which is at the forefront of diagnostics and therapeutics devices, had their Onclarity assay — a molecular diagnostic test detecting several high-risk HPV types — added to the American Society for Colposcopy and Cervical Pathology (ASCCP) guidelines. More recently, the company initiated a worldwide recall of one lot of ChloraPrep Clear 1 mL Applicators due to fungal contamination.

Alcon (ALC)

Specializing in ophthalmic tech and vision care solutions, Alcon’s $422 million growth in implantable tech sales was driven by its next-gen intraocular lenses internationally. This year they introduced US launches of Systane PRO Preservative-Free for dry eye and the Voyager Direct Selective Laser Trabeculoplasty device (DSLT) for advanced glaucoma management.

Edwards Lifesciences (EW)

Edwards Lifesciences, renowned for its heart valve innovations, just announced positive one‑year TAVI trial results demonstrating enhanced safety and efficacy in transcatheter aortic valve implantation (TAVI). On the flip side, legal challenges have persisted since November 2024, with an ongoing investigation being pursued on securities fraud.

Mindray (300760.SZ)

Mindray trades on the Shenzhen Stock Exchange in Chinese Yuan.

Mindray, a global innovator in medical imaging and diagnostics, is expanding its North American footprint. The company recently earned the Vizient Innovative Technology designation for its Hepatus series liver imaging technology. Additionally, its North American division debuted its first surgical table offering.

DexCom (DXCM)

DexCom leads the way in continuous glucose monitoring systems (CGMs). Their fiscal year (FY) 2024 financial results reflected that key regulatory clearances for its next-generation CGM system and strategic acquisitions have strengthened its stance in diabetes care. Dexcom reiterated its full-year 2025 guidance — projecting revenue of $4.60 billion (14% growth).

ResMed (RMD)

ResMed, a leader in digital health for respiratory care, reported impressive second quarter 2025 results, with total revenues reaching $1.3 billion — a 12% year-over-year increase. Notably, ResMed introduced the Kontor Head Strap, an accessory designed to enhance user comfort and device adherence, and was named on Forbes’ Most Trusted Companies in America list.

WuXi AppTec (2359.HK)

WuXi AppTec trades on the Hong Kong Stock Exchange in Hong Kong Dollars.

WuXi AppTec, a key player in the research and manufacturing of medical devices, sold its US medical device testing operations to NAMSA, focusing on its core contract research, development and manufacturing organization (CRDMO) business. It was recently included in TIME Magazine’s World’s Best Companies in Sustainable Growth 2025 list.

Terumo (4543.T)

Terumo trades on the Tokyo Stock Exchange in Japanese Yen.

Japan-based Terumo, known for its interventional systems and blood management technologies, was recognized as an “A‑List” company in the “Water Security” category by CDP 2024 — affirming its sustainability efforts. Additionally, in a collaborative study, Terumo Blood and Cell Technologies, along with Akron Bio, confirmed that its Quantum Flex Cell Expansion system supports scalable, good manufacturing practice (GMP)‑compliant mesenchymal stem cell expansion.

Coloplast (COLO-B.CO)

Coloplast trades on Nasdaq Copenhagen in Danish Krone.

Coloplast specializes in wound care, ostomy and continence products. Their interim 2025 financial report showcased that Coloplast delivered 8% organic growth in the first quarter, with revenue in DKK up 6% — despite challenges including negative impacts from its December 2024 divestment of its core Skin Care product portfolio and currency fluctuations.

Straumann (STMN.SW)

Straumann trades on the SIX Swiss Exchange in Swiss Francs.

Straumann, leading the digital dentistry revolution with its dental implants, performed well in the fourth quarter of 2024, highlighted by the global launch of its next-gen iEXCEL implant system and enhanced offerings with ClearCorrect, an advanced clear aligner solution in orthodontics that leverages digital tools.

Zimmer Biomet (ZBH)

Zimmer Biomet, specializing globally in musculoskeletal healthcare, is acquiring Paragon 28 to expand into the $5 billion foot and ankle segment. It also secured FDA premarket approval for the Oxford Cementless Partial Knee, FDA 510(k) clearance for the OsseoFit Stemless Shoulder system and CE Mark Certification for the Persona Revision Knee system.

Insulet (PODD)

Transforming diabetes care, Insulet is focused on advancing its Omnipod insulin delivery system, with ongoing improvements to its wireless technology for enhanced convenience and control. For 2025, Insulet projects revenue of $2.45 billion to $2.55 billion, driven by strong demand for Omnipod.

Sonova (SOON.SW)

Sonova trades on the SIX Swiss Exchange in Swiss Francs.

Known for its state-of-the-art auditory devices, Sonova’s Hearing Instruments segment achieved approximately $1880.66 million in sales, boosted by the Phonak Audéo Infinio and Audéo Sphere Infinio launches, driving 7% growth. Meanwhile, their Cochlear Implants sales rose 12.5%, but their adjusted earnings before interest tax depreciation and amortization (EBITA) margins, which measure profits, declined significantly.

Hologic (HOLX)

Hologic is dedicated to advancing diagnostic imaging and minimally invasive surgical solutions. Their Aptima SARS‑CoV‑2 assay — which leverages transcription-mediated amplification (TMA), an isothermal amplification technology — was FDA-cleared to rapidly and sensitively detect viral RNA. Unlike conventional PCR, which requires thermal cycling, TMA operates at a constant temperature.

Align Technology (ALGN)

Align Technology majors in digital dentistry. They recently introduced an enhanced clear aligner system that streamlines treatment planning and improves clinical outcomes. In the fourth quarter of 2024, the company posted net revenue of $1.2 billion — up 8% year-over-year — and made a record 1.1 million Invisalign procedures.