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In 2024, Medtronic Inc. brought in a revenue of over 33.1 billion U.S. dollars, the largest of any company globally based on medical devices. The revenues of Johnson & Johnson amounted to 31.85 billion U.S. dollars in this year.

Medtronic’s market share and future projections

In 2022, Medtronic accounted for eight percent of the medical devices market worldwide. Additionally, the company held ten percent of the market share in the United States in the same year. By 2028, Medtronic is expected to generate 44.1 billion U.S. dollars in medical technology revenue, indicating substantial growth potential in the industry.

Brand value

Despite Medtronic's leadership in revenues, it's noteworthy that German-based Fresenius held the highest brand value among medical device companies in 2024, estimated at over 7.68 billion U.S. dollars. While Medtronic was ranked to have the second-highest brand value.