The industrial health care equipment industry is fragmented, which means there are plenty of opportunities for investors. This segment includes medical device manufacturers, diagnostic services providers and distributors. The industry generates more than $120 billion in annual revenue and is growing at a double-digit rate. Here are some top stocks to consider if you’re looking to invest in this dynamic market. Industrial healthcare equipment refers to devices used in non-clinical settings that are connected to the Internet, such as nursing homes and hotels, among other environments. Investors can purchase stocks of companies that sell products directly to these establishments or those that make components that get incorporated into final products sold by third parties.
Stryker Corporation
Headquartered in Kalamazoo, Michigan, Stryker Corporation is a leading medical technology company specializing in the production of surgical and medical furniture, and surgical implants. The company has a market cap of $31 billion. Stryker designs, manufactures and distributes medical devices, equipment and pharmaceuticals in the Americas, Europe and Asia. Stryker’s operating segments include Trauma, Hospital, Spine, Orthopedics, Medical, and Other. Trauma is the company’s new name for Surgical Implant and Specialty Surgical. SIS is the business unit that makes the ViscAS blood-loss monitoring device and other surgical blood-loss monitoring products. Hospital segment offers surgical equipment used in both elective and emergency procedures, such as neurosurgical, cardiosurgery, urologic, and general surgery. Orthopedics segment provides implants and related products for knee and hip replacement surgeries, sports medicine, spinal and neurological surgeries, general orthopedics, and other applications. Medical segment offers diagnostic imaging systems, diagnostic equipment, and surgical supplies. The company’s other segment includes Pharmaceutical and Biomedical, which includes the Biomedical business unit, and equipment used for the manufacture of medical devices and the research and development of new products.
Medtronic Inc.
Headquartered in Minneapolis, Minnesota, Medtronic is one of the world’s leading medical technology companies. It has a market cap of $45 billion. Medtronic is engaged in the design, development, manufacture, and sale of medical devices, services related to these products, and software that are used in medical research, diagnosis, treatment, and rehabilitation. The company offers products and services in five segments: cardiac, spinal, neuro, diabetes, and general medical. Its cardiac segment offers products and services in the fields of cardiac rhythm management, cardiology, cardiac surgery, vascular, and critical care. In the spinal segment, the company provides products and services in the fields of surgery, neurostimulation, limb restoration, and sports medicine. In its neuro segment, it offers products and services in the fields of neurology, neurosurgery, neurostimulation, and neuromodulation. In its diabetes segment, the company provides products and services in the fields of diabetes care management, insulin delivery, glucose monitoring, and endocrinology. In its general medical segment, the company offers products and services in the fields of surgery, vascular, critical care, and sleep apnea.
Hologic Inc.
Headquartered in Burlington, Massachusetts, Hologic is a medical technology company that designs, manufactures and distributes a range of products for use in the diagnosis and treatment of disease. It has a market cap of $11 billion. The company offers diagnostic imaging systems, breast health, prostate health, and surgical products, as well as biopharmaceutical products, such as genomic testing and immunohistochemistry products. It also provides software, services, consulting, and analytical solutions to assist healthcare providers in making healthcare decisions. Hologic’s diagnostic imaging systems include both digital mammography systems and digital breast ultrasound systems. Its breast health product line includes digital breast ultrasound equipment, image-guided biopsies, and tissue extraction systems. Its prostate health product line includes digital prostate ultrasound equipment, image-guided biopsies, and tissue extraction systems. Its surgical product line includes surgical navigation systems, surgical robots, patient positioning systems, and surgical navigation software.
B. Braun Melsungen AG
Headquartered in Melsungen, Germany, B. Braun is an industrial health care company that designs, manufactures and distributes medical devices and supplies to hospitals, diagnostic and scientific laboratories. It has a market cap of $12 billion. Braun’s portfolio includes diagnostic systems, single-use medical devices, surgical products, transfusion devices, critical care products, medical nutrition, and medical logistics. The company focuses on five segments: Diagnostics, Surgical, Nutrition, Critical Care and Medical. In the Diagnostics segment, it offers laboratory instruments and systems, reagents, and test kits. In the Surgical segment, it offers surgical disposables, and reusable instruments. In the Nutrition segment, the company offers enteral feeding devices, enteral administration sets, enteral feeding pumps and enteral feeding systems. Based on Critical Care, it offers mechanical ventilators and pressure sensors. In the Medical segment, it offers medical logistics and healthcare IT services, as well as medical textiles.
Cardiovascular Corp. of India Ltd.
Headquartered in Bangalore, India, Cardiovascular Corp. of India is an industrial health care company that designs and manufactures medical equipment, components and consumables for interventional cardiology, cardiothoracic surgery and vascular surgery. It has a market cap of $8 billion. The company’s portfolio includes balloons, catheters, guide wires and filters. Its products are used in the interventional cardiology space, including percutaneous coronary intervention, coronary angioplasty and thrombolysis. Its products are also used in the cardiothoracic space, including cardioplexy, thoracotomy and cardiac surgery. Its products are also used in the vascular space, including angioplasty and stent placement.
Conclusions
Industrial health care equipment is a massive, fragmented market that is growing quickly as the world’s population ages. This sector includes medical device manufacturers, diagnostic services providers and distributors. There are plenty of opportunities for investors because the industry is fragmented. Stryker Corporation is a leader in the surgical and medical furniture, and surgical implants segment. Medtronic is a leading medical technology company specializing in the production of medical devices, services related to these products, and software that are used in medical research, diagnosis, treatment, and rehabilitation. Hologic is a medical technology company that designs, manufactures, and distributes a range of products for use in the diagnosis and treatment of disease. B. Braun Melsungen AG is an industrial health care company that designs, manufactures and distributes medical devices and supplies to hospitals, diagnostic and scientific laboratories. Cardiovascular Corp. of India Ltd. is an industrial health care company that designs and manufactures medical equipment, components and consumables for interventional cardiology, cardiothoracic surgery and vascular surgery.
Read More: Top Industrial Health Care Equipment Stocks You Can Buy Today