Medical Devices
World’s Most Productive Companies
Medical Devices: Demand Meets Operating Gains
Medical Devices is one of the larger and more dynamic Life Sciences peer groups, spanning imaging, surgical, cardiovascular, orthopedic, and hearing technologies. Productivity here is driven by procedure volumes, new product cycles, and a steady push to bring more software, connectivity, and AI into both devices and the plants that build them.
The group had a solid 2025, rising above its 2019 baseline with broad participation as most companies improved on the year. GE HealthCare stood out as a World’s Most Productive Company, and the leaders ranged across imaging and surgical specialties as the group converted demand into operating gains.
Medical Devices World's Most Productive Companies
Productivity Snapshot
- Medical Devices ranks fourth of eight Life Sciences peer groups in 2025, at an Industrial Productivity Index of 1.08, about 8% above its 2019 baseline.
- Breadth was healthy: 9 of 15 companies grew productivity in 2025.
- GE HealthCare is among the World’s Most Productive Companies, reaching 1.17 as it scaled imaging and digital capability.
- Leaders spanned imaging, hearing, and surgical specialties, with rising procedure volumes and new product cycles supporting the group.
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