Medtronic- A MedTech Success Story
Medical device manufacturing and development is a high-capital demanding endeavor and therefore the key competitors majorly remain the same. Irrespective of this, in 2020, Medtronic ranked first place in healthcare and on number 129 on the Global 2000 list. Founded in 1940s, the company has shifted it approach from supplying medical equipment to manufacturing custom medical devices for hospitals. The company has majorly focused on designing and manufacturing devices to address cardiac care, neurological and spinal conditions, and diabetes.
Through this whitepaper, DelveInsight is representing the success story of Medtronic. The whitepaper includes an overview, list of competitors in medical devices, Medtronic’s past, on-going, and future plans, factors impacting the operations, mergers and acquisition, and conclusion. Medtronic was founded in 1949 and is headquartered in Dublin, Ireland. The company has 76 manufacturing sites and a presence in more than 150 countries, with more than 90,000 employees, 10,000 scientists, and 21 lab & research development sites. It was one of the major companies which came forward in fighting COVID-19, as it rapidly increased production of ventilators by five-fold from pre-pandemic times. The company offers products in four segments, namely- Cardiovascular, Medical-Surgical, Neuroscience, and Diabetes Operating Unit.