7. Stryker

Stryker
(Stryker)

Stryker
Headquarters: Kalamazoo, Michigan
2024 projected sales: $18.5 billion
2024 projected R&D spend: $1.15 billion
2017 sales: $12.4 billion
2017 R&D spend: $787 million

Although a year of nearly 10% growth in sales helped Stryker overtake Roche in the rankings from 2016 to 2017, the company is still predicted to drop to number seven on Evaluate’s list by 2024, displaced following the rise of Becton Dickinson.

Stryker’s $18.5 billion in revenues projected for 2024 could bring the company within striking distance of Philips’ $18.7 billion and BD’s $19.2 billion in worldwide sales. In that time, Stryker’s percentage of the medtech market is expected to hold steady at 3.1%.

However, reports earlier this summer spoke of Stryker’s early, quiet moves to acquire Boston Scientific, which could become one of the largest medtech M&A deals on record. Shortly after the news broke, Stryker said in a regulatory filing that it was not in takeover talks with the company, but it did not deny that previous discussions had taken place.

The theoretical combined company would have a market cap of nearly $110 billion, in comparison to Medtronic’s $117 billion, with possibly $21.5 billion in annual sales and up to 62,000 employees.

In addition, the new behemoth wouldn’t see much overlap in the products offered by its former constituent rivals: Stryker’s orthopedic implants, surgical tools, neurotechnology and patient handling equipment could complement Boston Scientific’s work in cardiology, radiology and endoscopic interventions—although both companies do manufacture electric spinal cord stimulators for treating certain kinds of pain.

RELATED: Stryker gets CE mark for 24-hour stroke device

In the meantime, Stryker has been snapping up a series of smaller companies focusing in imaging, surgical visualization, airway devices and spine implants, which make up a large part of the orthopedics market.  

In 2024, Stryker is set to be the third-largest orthopedics company in the world, just behind Johnson & Johnson and Zimmer Biomet, with nearly $8.5 billion in sales. However, Evaluate predicts orthopedics to be as slow-growing as diagnostic imaging, with only 3.7% annual growth expected.

RELATED: Stryker to pony up $700M for imaging player Novadaq

Still, Stryker is expected to post 5.1% in annual growth in the space, and increase its market share from 16.3% to 18.0%.

To help do so, it put down $1.4 billion to acquire K2M and its portfolio of implants for complex spine disorders and minimally invasive procedures. With its own annual sales of $300 million, Stryker described K2M’s business as highly complementary, including its work in additive manufacturing and 3D printing.

RELATED: Stryker snaps up ENT-device maker Entellus Medical in $662M deal

It also acquired Invuity, which makes single-use lighted instruments for better illumination during orthopedic and spine surgeries, as well as more general procedures. The $190 million deal was announced this past September and is expected to be folded into Stryker’s MedSurg portfolio, which accounts for about 45% of its global sales.

7. Stryker
Read more on

Suggested Articles

GenapSys has unveiled its compact, high-throughput DNA sequencer, alongside a $90 million venture capital raise to help jump-start its launch.

LivaNova plans to restructure its heart valve operations, and will drop its investigational Caisson transcatheter mitral valve replacement altogether.

The FDA is being urged to investigate California biotech BioCorRx amid claims that it tested an unapproved drug implant on prison inmates.