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* Article updated August 19, 2022 with new content and an updated list of Biomedical Engineering Companies.
The application of engineering ideas and problem-solving methodologies in biology and medicine is known as biomedical engineering. The work of bioengineering companies is ever-present in the healthcare system and familiar to us in the form of medical implants like pacemakers and artificial joints as well as more revolutionary innovations like 3D-printed organs.
The multidisciplinary nature of this field has allowed biomedical engineering companies to transform the way we communicate with the environment by connected biological research, medicine, and engineering. It’s no overstatement to say that the groundbreaking innovations of biomedical engineers have revolutionized traditional healthcare with the introduction of things like prosthetic limbs and pharmaceutical delivery technologies.
Typically, a biomedical engineering company combines the design and problem-solving characteristics of engineering with the medical and biological sciences to enhance health services like diagnostics, monitoring, and treatments. Bioengineering companies have thus succeeded to significantly improve the quality of life for many people. Some recent examples include the introduction of increasingly complex wearable gadgets, microneedles for medication delivery systems, and sensors for brain-controlled prostheses, all of which have been improved by the simplification of technology.
In this article, we’ll talk about some of the top biomedical engineering companies that will not only bring us the healthcare of the future, but are also likely to steer the future of biomedical engineering. So let’s get started.
The Top Biomedical Engineering Companies List:
Abbott
Chicago, USA | abbott.co.in
Abbott Laboratories is a worldwide medical device and healthcare corporation based in Abbott Park, Illinois, United States. In 1888, Chicago physician Wallace Calvin Abbott created the firm to develop well-known pharmaceuticals. Now, it distributes medical equipment, diagnostics, branded generic medicines, and nutritional supplements. In 2013, it separated its research-based medicines business into AbbVie.
Pedialyte, Similac, Ensure, Glucerna, ZonePerfect, FreeStyle Libre, i-STAT, and MitraClip are among the company's well-known products.
Agfa
Mortsel, Belgium | global.agfahealthcare.com
Agfa HealthCare, a division of the Agfa-Gevaert Group, is a major provider of integrated IT systems, advanced diagnostic imaging, and contrast media for hospitals and other healthcare facilities. Agfa HealthCare has more than a century of diagnostic imaging experience and has been a leader in the healthcare IT market since the early 1990s.
Hospital information systems (HIS), clinical information systems (CIS), radiology information systems (RIS), picture archiving and communications systems (PACS), laboratory information systems (LIS), cardiology information and image management systems, reporting, enterprise scheduling, and decision support systems are among the several biomedical engineering solutions offered by Agfa HealthCare today.
Agfa HealthCare is now a global leader in imaging informatics, with over 3600 installations (PACS, RIS, CVIS) across the world. The firm is also a forerunner in the field of e-health, with systems that connect tens of thousands of general practitioners with healthcare providers.
Dräger
Lübeck, Germany | draeger.com
Drägerwerk AG is a Lübeck-based German manufacturer of breathing and protective equipment. They also develop gas detection and analysis systems as well as noninvasive patient monitoring technology. Hospitals, fire agencies, and diving businesses are among their clients.
Dräger’s medical branch covers emergency care, perioperative care, critical care, perinatal care, and home care, offering anesthesia workstations, consumables and accessories, IT and software solutions, patient monitoring solutions, ventilation, and respiratory monitoring solutions, devices for warming therapy, and neonatal care, etc.
Dräger Medical, headquartered in Lübeck, Germany, employs about 14,000 people globally, with around half of them working in customer sales and services. Lübeck, Germany; Best, Netherlands; Richmond Hill, Canada; Telford, USA; Andover, USA; and Shanghai, China are the locations for R&D and production. Nearly 50 countries have sales and service operations, and the corporation is represented in over 190 countries.
Fresenius Medical Care
Bad Homburg, Germany | freseniusmedicalcare.com
Fresenius Medical Care AG & Co. KGaA is a German healthcare firm that provides dialysis treatments to 345,096 patients through a network of 3,994 outpatient dialysis facilities. The organization typically serves patients with end-stage renal disease (ESRD), which necessitates dialysis three times a week for the remainder of their lives.
It has a 38 percent market share in the dialysis market in the United States, with a worldwide headquarters in Bad Homburg, Germany, and a North American headquarters in Waltham, Massachusetts. It also has 45 manufacturing facilities, the largest of which are in the United States, Germany, and Japan.
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GE Healthcare
Chicago, USA | gehealthcare.in
General Electric Healthcare is a division of the American company General Electric, which is located in Chicago, Illinois. As of 2017, the firm manufactures and distributes diagnostic imaging agents and radiopharmaceuticals for imaging modalities used in medical imaging procedures.
Dyes for magnetic-resonance imaging methods are available from GE Healthcare as well as medical diagnostic equipment, such as CT scanners. Moreover, the company develops medical imaging and information technologies, medical diagnostics, patient monitoring systems, illness research, medication discovery, and biopharmaceutical production technologies. The firm was founded in 1994 and now has operations in over 100 countries.
Johnson & Johnson
New Jersey, USA | jnj.com
Johnson & Johnson (J&J) is an American multinational firm that manufactures medical equipment, medicines, and consumer products. It was founded in 1886. The company's common stock is a component of the Dow Jones Industrial Average, and it is rated No. 36 on the Fortune 500 list of the biggest US firms by total revenue in 2021.
The headquarters of Johnson & Johnson is in New Brunswick, New Jersey. There are around 250 subsidiary firms in the corporation, conducting activities in 60 countries with products marketed in over 175 countries.
Among Johnson & Johnson's brands are a number of well-known pharmaceuticals and first-aid products. Band-Aid Brand bandages, Tylenol pharmaceuticals, Johnson's Baby products, Neutrogena skin and beauty products, and Acuvue contact lenses are among its well-known consumer items. Moreover, they also develop devices for orthopedics, coronary artery disease, peripheral vascular and obstructive disease, cardiovascular disease, neurovascular disease, arrhythmias, insulin delivery, blood glucose measuring, etc.
KLS Martin
Tuttlingen, Germany | klsmartin.com
The KLS Martin Group, situated in Tuttlingen, Germany, is a multinational, family-owned medical equipment manufacturer. KLS Martin provides complete medical technology solutions that are extremely practice-oriented since they are realized hand-in-hand with users, adhering to the business concept "Surgical innovation is our passion."
Their products include implants for oral and maxillofacial surgery, orthopedics, traumatology, hand and foot surgery, and sternum closure. They also produce electrosurgery and laser devices, surgical instruments and sterilization containers, operating and examination lights, ceiling supply units, and modular OR systems. KLS Martin presently employs 1,000 people across the world, and its goods are sold in more than 140 countries.
Maquet
Rastatt, Germany | getinge.com
Maquet is a Rastatt-based multinational German firm that specializes in surgical workstations, anesthetic systems, critical care workstations, and cardiovascular devices. Surgical workplaces, critical care, and cardiovascular are the three main divisions of the company. Maquet is one of the three main business segments of its Swedish parent company Getinge Group.
Medtronic
Fridley, USA | medtronic.com
Medtronic plc is an American-Irish medical equipment corporation based in Fridley, Minnesota. They develop devices for cardiac rhythm, cardiovascular, diabetes, general surgery, neurological, orthopedic, reconstructive/plastic surgery, spinal, respiratory monitoring systems, and other areas.
Olympus Medical
Tokyo, Japan | olympusmedical.co.in
Olympus Corporation is a Japanese optics and reprography producer. Olympus was founded on October 12, 1919, with a focus on microscopes and thermometers. The company's worldwide headquarters are in Shinjuku, Tokyo, Japan.
Endoscopic, ultrasonography, electrocautery, endotherapy, and cleaning and disinfection equipment are all manufactured by Olympus. Olympus in Tokyo co-developed and manufactured the world's first flexible endoscope. Olympus has a near-monopoly on the international market for gastrointestinal endoscopes because of its extensive product line and quick response to industry advancements. It controls nearly 70% of the worldwide market, which is estimated to be worth $2.5 billion. Olympus and Sony announced on September 28, 2012, that they will form a joint venture to develop new surgical endoscopes with 4K resolution (or greater) and 3D functionality.
Philips Healthcare
Amsterdam, The Netherlands | philips.hu/healthcare
Philips is a worldwide conglomerate firm headquartered in Eindhoven, Netherlands. It was founded in 1891. Although the Benelux headquarters are still in Eindhoven, it has been largely headquartered in Amsterdam since 1997. Philips, formerly one of the world's largest electronics corporations, is now mainly focused on biomedical technology, with other operations being discarded.
They offer clinical informatics products (IntelliSpace, Xcelera), plus imaging systems, such as mammography, mobile C-Arms, nuclear medicine, radiography, and ultrasound.
They also offer diagnostic monitoring, defibrillators, patient care, and clinical informatics, which include:
-blood pressure and diagnostic sleep testing
-capnography, hemodynamic, and multi-measurement servers
-enterprise patient informatics solutions
- and pulse oximetry technologies
These are just some of the many Phillips healthcare products that are on the market.
Samsung Healthcare
Seoul, South Korea | samsunghealthcare.com
Samsung is a South Korean multinational industrial firm with headquarters in Samsung Town, Seoul. It is the largest South Korean chaebol (Korean word for plutocracy) with multiple connected businesses, the majority of which are grouped under the Samsung name (business conglomerate). Samsung has the eighth greatest worldwide brand value as of 2020.
Samsung's healthcare innovation is headed by Samsung Electronics' Health & Medical Equipment Business and Samsung Medison, which employs over 1,600 people in over 100 countries and specializes in diagnostic imaging technologies. Their products include solutions for digital radiography, ultrasound, and many others.
Siemens Healthineers
Erlangen, Germany | siemens-healthineers.com
Siemens Healthineers is based in Erlangen, Germany, and is the parent company of various medical technology firms. Werner von Siemens co-founded a tiny family business in Berlin in 1847, and the firm grew from there. Siemens Healthineers employs 65,000 people worldwide through its subsidiaries.
Their products include angiography and international X-ray systems, computed tomography, radiation oncology, laboratory diagnostics, molecular diagnostics, molecular imaging, magnetic resonance imaging, point-of-care diagnostics, refurbished systems, imaging software, ultrasound, and other services.
Skanray Healthcare
Mysuru, India | skanray.com
Skanray Technologies is a prominent global medical equipment manufacturer focusing on high-frequency X-ray imaging systems, critical care devices, and primary healthcare and telemedicine compatible products. The company's mission is to provide accessible primary healthcare items of high efficiency and durability to the world's rural population. Skanray does this by integrating cutting-edge technology with ease of use, innovation, and an emphasis on effective patient care.
Skanray has achieved remarkable progress in the field of healthcare technology in the short time since its establishment. Skanray is well-positioned to have a substantial impact on healthcare delivery in both developing and developed countries, with production sites in India and Europe. The company designs and produces all of its products in FDA-approved facilities in India and Europe, and it has a direct and indirect presence in 80 countries.
Stryker
Kalamazoo, USA | stryker.com
Stryker Corporation, established in Kalamazoo, Michigan, is an American global medical technology corporation. They specialize in a variety of areas such as:
-implants for joint replacement and trauma surgery
-surgical equipment and surgical navigation systems
-endoscopic and communications systems
-patient handling and emergency medical equipment
-neurosurgical, neurovascular, and spinal devices
Among Stryker's products are also other healthcare industry products that are used in a variety of medical areas of expertise.
The majority of Stryker's products are sold directly to doctors, hospitals, and other healthcare institutions in the United States. Stryker products are supplied globally through company-owned sales subsidiaries and branches as well as third-party dealers and distributors in over 100 countries.
Biomedical engineering companies and industry trends
Only in Europe, the medical diagnostics market is expected to reach US$98.43 billion by 2026, at a CAGR rate of nearly 6% between 2022 and 2026. The future of biomedical engineering is solid, as revolutionary advancements in medical imaging and diagnostics are shaping the way we practice medicine. New medical gadgets developed in biomedical engineering companies and research facilities throughout the world have drastically changed the way physicians treat sickness and injuries, improving the quality and duration of human life.
[Related Article - The Best and Worst Tech Ideas in the Healthcare Sector]
In other words, the future of biomedical engineering is bright, especially in the field of medical devices. Because of the globally aging population, the prevalence of infectious diseases, the increasing prevalence of chronic diseases, the innovation of bioengineering companies and research centers, and the penetration of healthcare insurance, the global medical device market is set to reach $745.0 billion by 2030 and grow at a rate of 5.0% annually from 2020 to 2030.
However, biomedical engineering technologies have the potential to cause harm through abuse, weaponization, or accidents. This risk can pose substantial dangers to human health, privacy, and environmental safety. The future of biomedical engineering is dependent upon the challenges and hurdles we overcome on one hand, and breakthroughs and accomplishments in domains like chemistry, materials science, and biology on the other. Multidisciplinarity means that innovation comes from a variety of sources at the same time. And that’s exactly what we can see from this list of top bioengineering companies as well: innovation and versatility are integral in biomedical engineering's future.
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