2012 revenue:
$4.6 billion
2011 revenue: $4.8 billion
Change: -3.3%

Medtronic ($MDT) comes in at the top of the list, and while the world's largest devicemaker has maintained its CRM hegemony, it has been steadily posting quarterly revenue declines. In 2012, Medtronic's Cardiac Rhythm Disease Management business peaked early, grossing about $1.3 billion in the first quarter and shrinking from there, with fourth quarter sales coming in about $124 million below that.

The 3.3% annual decrease is the result of shrinking demand for ICDs and pacemakers, and while an uptick in emerging markets sales will help Medtronic make up some ground, the company acknowledges that the days of soaring CRM sales have passed. 

But there's one bright spot: Atrial fibrillation devices have charted a modest growth path over the past year, and Medtronic is counting on its Arctic Front Advance device, approved by the FDA in August, to keep that unit's success rolling.

For more:
Medtronic scores CE mark for novel TAVI valve
Medtronic rides emerging markets growth to strong quarter
Medtronic hunts for expanded pacer indication with large study
Medtronic's next-gen atrial fibrillation device nails FDA, CE mark nods