The 2026 MPO Top 30 Medical Device Companies Report

Welcome once again to MPO’s list of the top 30 medtech elite. A surprise to no one, Medtronic ruled the roost with a record-breaking $36.36 billion of revenue in its latest fiscal year.

Several of the Top 30 celebrated financial success. Intuitive grew the fastest, posting an over 20% revenue increase, with Boston Scientific not far behind with just under a 20% rise. Dexcom, Edwards, Stryker, and Resmed also enjoyed double-digital percentage gains.

Executive shuffling took place last year in nearly a third of the top companies. Decade-long Baxter CEO Joe Almeida retired from the corner office in February and took the chief executive position at Hologic following its privatization, replaced by ATS Corp. leader Andrew Hider in August. Medtronic executive Bob White took the reins of Olympus from Yasuo Takeuchi in June. The next month, Dexcom revealed president and COO Jake Leach would succeed 10+ year chief executive Kevin Sayer—Leach took office on the first day of 2026. President and 30-year Intuitive veteran Dave Rosa took the baton from Gary Guthart in July as well. Sonova’s Arnd Kaldowski left his position in September in order to address a family member’s health issues, succeeded by Eric Bernard. Boston Scientific, Intuitive, Danaher, and Stryker all hired new finance chiefs last year.

Abbott won this year’s M&A trophy with its $21 billion acquisition of Exact Sciences, adding a suite of cancer diagnostics to its already comprehensive diagnostics business. BD completed the $17.5 billion sale of its Biosciences & Diagnostic Solutions business to Waters, and Boston Scientific began a $14.5 billion transaction for Penumbra. Though outside its FY25, Danaher grabbed Masimo for $9 billion as well. Stryker grabbed Inari for $4.9 billion and Solventum scored Thermo Fisher’s Purification & Filtration business for $4.1 billion.

The up year for M&A deals also caught the FTC’s gaze last year. Alcon terminated its deal for LENSAR in March after FTC opposition created a costly extended regulatory review. Edwards nixed its deal for JenaValve in January 2026 after an August 2025 FTC injunction to block the acquisition. Edwards also forked over $10 million in penalties in July 2026 to settle FTC charges of antitrust issues concerning its acquisition of JC Medical.

We hope you enjoy reading this year’s Top 30 reports.

Editors’ note: As you read our reports, please take note that while the companies are ranked according to sales reported for their most recent fiscal year, some may include non-device sales within a division, such as combination products, drug delivery, software, or device-related services. Not all companies explicitly break out the device portion of total revenues. We consulted numerous public documents and contacted company officials as needed to arrive at the best estimates. Also note that foreign currency conversions were done based on the exchange rate at the end of the fiscal reporting period being discussed.