Home Health Top Medical Device Companies in Australia

Top Medical Device Companies in Australia

With the ongoing global health threat across the globe, including the prevalent pre-existing illnesses that have been going over for decades to date, the discovery, invention, and production of medical devices are also non-stop.

As of writing, the industry is growing in number at an accelerating pace. And it looks like it’s not going to slow down or halt at any time soon from today.

What is a Medical Device

Before going any further, some of you may still be wondering what a medical device is, and how to differentiate it from the rest.

Generally speaking, a medical device is any instrument that health practitioners used to diagnose, prevent, or treat a condition or disease without harmful adverse chemical reactions on the body. 

It can also be an over-the-counter item that you can use personally without the need for a medical prescription from the doctor.

Ø  Examples of Medical Devices

  • Artificial Hips
  • Bed Pans
  • Blood Pressure Monitors
  • Blood Glucose Meters
  • Breast Implants
  • Catheters
  • Condoms
  • Contact Lenses
  • Diagnostic Ultrasound Products
  • MRI Scanners
  • Pacemakers
  • Plaster
  • Syringes
  • Tongue Depressors
  • X-Ray Machines

Australia’s Department of Health’s “Therapeutic Goods Administration” or TGA is responsible for the regulation of these medical devices. Accordingly, they classify each medical device according to the risk it poses to users.

Ø  5 W’s TGA’s Risk-Based Regulation Guideline Questions

  • What is the degree of risk that the medical device presents to users?
  • What is the medical device’s duration of use?
  • What is the intended objective or purpose of the medical device?
  • What is the degree of risk the medical device raises to patients or users and those in proximities?
  • What is the intended application of the medical device to the patient? Is it internal or external use?

Hence, TGA has listed five (5) classifications in regulating medical devices from its lowest to highest risks.

Ø  5 W’s TGA’s Risk-Based Regulation Guideline Questions

  • Class I

These are the lowest risk medical devices included in the Class I list of TGA.

  • Cervical Collars
  • Elastic Bandages
  • Non-Sterile Dressings
  • Slings
  • Tongue Depressors
  • Class IIa
  • Catheters
  • Contact Lenses
  • Intravenous Tubing
  • X-Ray Films
  • Class IIb
  • Blood Bags
  • Condoms
  • Dressings for Severe Wounds
  • Class III
  • Coronary Artery Probes
  • Intrauterine Contraceptive Devices
  • Medical Devices Containing Medicines, such as:
  • Dressings with an Anti-Microbial Agent
  • Active Implantable
  • Cochlear Implants
  • Pace Makers
The essential points provided above are just a few of the things that medical device companies in Australia have to observe, follow, and fulfill to pass and enable the sale, dissemination, and use of their products.

 

What Medical Device Companies Do and Their Importance

By definition, medical devices or MedTech companies are the established organizations responsible for the creation and manufacture of these tools, machines, or instruments. That said, it is clear why they are relevant in the medical world or the healthcare industry.

It would be hard for our medical practitioners to diagnose any illnesses without these medical devices or technologies. Moreover, it would be impossible for them to prevent. Mitigate, and treat diseases if the medical device industry ceases to exist.

Top 5 Medical Device Companies in Australia

With that said, below is the top five (5) medical device companies in Australia as of writing. These are the leading MedTech enterprises that are soaring high in revenues and emerging trends presented by various research organizations and centers.

  1. Johnson & Johnson (JNJ)

Johnson & Johnson is not only a top supplier in Australia for medical devices but throughout the world.

Although the company has been in the country for eighty-nine years already, it has been producing quality consumer-packaged goods, pharmaceuticals, and medical devices across the globe for more than a century now since founded in New Jersey.

Official Website: http://www.jnj.com.au/

Number of Branches across the Globe – 260+

Number of Employees across the Globe – 132, 200

Research and Development (R&D) Spend – $15.4B AUD (11.4B USD)

Market Capitalization (Market Cap) – $498.44B AUD ($368.91B USD)

Total Revenue – $110.87B AUD ($82.06B USD)

  • Novartis AG (NVS)

Based in Switzerland, this pharmaceutical company is also among the top medical companies in Australia.

Though it has been in the medical industry for just over two decades, it’s on the second spot with the highest revenue in the global market. This Swiss multinational enterprise is popular for its Alcon vision products, such as those for glaucoma, refractive surgery, and cataracts.

Official Website: https://www.novartis.com.au/

Number of Branches across the Globe – 155

Number of Employees across the Globe – 103, 941

Research and Development (R&D) Spend – $10.95B AUD (8.1B USD)

Market Capitalization (Market Cap) – $269.04B AUD ($199.09B USD)

Total Revenue – $66.86B AUD ($49.49B USD)

  • Abbott Laboratories (ABT)

Founded and headquartered in Abbott Park in Illinois, the company is another well-known name in the global healthcare industry. It came to Australia in 1935. However, it has been providing top-class medical devices in the world market for over a century already.

Official Website: https://www.aus.abbott/

Number of Branches across the Globe – 147

Number of Employees across the Globe – 103, 000

Research and Development (R&D) Spend – $3.11B AUD (2.3B USD)

Market Capitalization (Market Cap) – $194.37B AUD ($143.91B USD)

Total Revenue – $41.33B AUD ($30.6B USD)

  • Medtronic PLC (MDT)

Another key player in supplying top medical devices throughout the world is the Medtronic. Headquartered in Dublin, Ireland, but has been in Australia since 1973.

Among the wide-ranging products it manufactures are the following listed below.

  • All kinds of patient care and monitoring accessories
  • General surgical equipment
  • Medical devices for the following illnesses or uses:
    • Cardiovascular
    • Diabetic
    • Neurological Applications
  • Cochlear Limited (COH)

Established in 1981 and based in Sydney, Cochlear Limited is among the top medical device companies in Australia. The company holds more than two-thirds of hearing implants in the market worldwide.

Official Website: https://www.cochlear.com/au/en/home

Number of Branches across the Globe – 21

Number of Employees across the Globe – 4,000

Research and Development (R&D) Spend – $184.4M AUD

Market Capitalization (Market Cap) – $12B AUD

Total Revenue – $1.24B AUD

Although Cochlear may not be the top five overall in some research centers, it surely is creating a name and reputation of its own and is the only Australian-based company that is performing well and notable for its hearing implants in the global market.

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