Top 10 Healthcare Companies in the World in 2024

Healthcare companies are always on the lookout to improve outcomes in the healthcare system and consolidate the healthcare industry. Healthcare providers offer essential services and game-changing products that play an important role in saving innumerable human lives and innovative solutions which are a blessing in extending health spans.

Some of the largest healthcare companies include insurance companies that offer health insurance and medical expenses coverage at important times, healthcare technology companies which offer diagnostic solutions, medical devices companies that manufacture and market life-saving devices and medical supplies for cardinal health and pharmaceutical companies that help to develop new drugs via adequate research and development labs.

Top 10 Healthcare Companies in thepage World in 2024

1. UnitedHealth Group

• Origin Country: United States of America
• Founder: Richard T Burke
• Founded: 1977
• Headquarters: Minnetonka, Minnesota, U.S.
• Employees: 375,000
• Annual Revenue in 2023: $335.118 billion USD
• Net Income in 2023: $22.430 billion USD
• Market Value in 2023: $461.930 billion USD
• Market Capitalization in 2023: $422.510 billion USD

UnitedHealth Group is the highest-ranking and largest healthcare company in the world based on market capitalization. The American multinational is an industry leader in the health insurance and managed healthcare industry.

UnitedHealth Group is the seventh-largest company based on revenue and the largest health insurance company in the world based on net premiums. It is ranked 11th position in the list of 2022 Fortune Global 500. UnitedHealth Group is one of the leading publicly traded healthcare companies listed on the New York Stock Exchange.

UnitedHealth Group offers insurance services and healthcare products to 130 countries and fifty states in its home country. It also provides consulting services and data analytics to healthcare providers.

Products and services of UnitedHealth Group include

• Healthcare Services
• Health Care Provider
• Pharmacy Benefit Manager
• Health Insurance Plans like UnitedHealthcare Select and UnitedHealthcare Choice
• Optum Rx – Pharmacy care services business that empowers doctors to make informed decisions regarding patient treatments at lower costs

2. Roche Holding AG

• Origin Country: Switzerland
• Founder: Fritz Hoffmann-La Roche
• Founded: 1896
• Headquarters: Basel, Switzerland
• Employees: 105,920
• Annual Revenue: $69.2 billion (2022)
• Net Income in 2023: $16.241 billion USD
• Market Value in 2023: $386.150 billion USD
• Market Capitalization in 2023: $370.650 billion USD

Roche Holding AG, commonly known as Roche, is the holding company for F. Hoffmann-La Roche AG. It is listed on the SIX Swiss Exchange and has its headquarters in Basel, Switzerland. It is the fifth-largest pharmaceutical company in the world by revenue and a leading provider of cancer treatments globally.

Roche is one of the leading pharmaceutical companies that boast of treating nearly 28 million patients every year with their medicines. It is also the world’s leading biotech company that provides seamless integration of diagnostic and pharmaceutical capabilities

Products and services offerings of Roche Holdings AG include

• Roche Diagnostics – Manufactures diagnostic reagents and equipment for medical and research diagnostic applications
• Roche Applied Science – Produces systems and reagents for life sciences research
• Businesses with a focus on Healthcare Applications targeting hospitals, doctors and consumers
• Manufacturing drugs for the treatment of cancer, central nervous system disorders, viral infections and inflammatory diseases
• Diabetes management products under the Accu-Chek brand

3. Eli Lilly and Company

• Origin Country: United States of America
• Founder: Eli Lilly
• Founded: 1876
• Headquarters: Indianapolis, Indiana, U.S.
• Employees in 2023: 40,000
• Annual Revenue:$105.0 million ( Q1 2023)
• Market Cap: $431.49B (August 1, 2023)
• Net Income in 2023: $7.033 billion USD
• Market Value in 2023: $278.240 billion USD

Eli Lilly and Co. is a pharmaceutical company with a product presence in 125 countries and offices in 18 countries. It has the distinction of being the first in the pharma business to introduce human insulin as well as biosimilar insular product. Eli Lilly and Company is the world’s largest manufacturer and distributor of medications used in a broad range of psychiatric and mental health-related conditions, including clinical depression, generalized anxiety disorder, narcotic addiction, insomnia, bipolar disorder, schizophrenia, and others.

Eli Lilly and Co. was also the first company to be associated with the mass production of the polio vaccine developed by Jonas Salk.

The pharma company is a member of EFPIA and has found a place in the Forbes Global 2000 List.

Eli Lilly and Company is associated with the pharmaceutical industry and has spread its product presence to nearly 110 countries all over the world. According to the company’s website, it maintains research facilities in six countries and manufacturing facilities in 13 countries.

Eli Lilly and Company is a full member of the European Federation of Pharmaceutical Industries and Associations (EFPIA) and Pharmaceutical Research and Manufacturers of America (PhRMA).

Products and services offerings of Eli Lilly and Company

• Clinical depression drugs like Prozac
• Antipsychotic medication like Zyprexa
• Diabetes drugs like Humulin
• Cancer drugs like Verzenio
• Immunology drugs like Olumiant
• Pain medications

4. Abbot Laboratories

• Origin Country: United States of America
• Founder: Wallace Calvin Abbott
• Founded: 1888
• Headquarters: Abbott Park, Illinois, U.S.
• Employees in 2023: 115,000
• Annual Revenue: $41.505B (March 31, 2023)
• Market Cap: $193.6B (August 1, 2023)
• Net Income in 2023: $8.389 billion USD
• Market Value in 2023: $259.710 billion USD

Abbot laboratories occupy one of the top positions in the list of top pharma companies in the world in 2021. It is associated with pharmaceuticals, medical devices as well as the healthcare industry. Abbott Laboratories reported strong results in the first quarter of 2023, with growth in underlying base businesses, including Medical Devices, Established Pharmaceuticals, and Nutrition

The company started its journey by formulating known drugs and with time ventured into other spaces like selling nutritional products, branded generic medicines, diagnostics and medical devices.

In the year 2013, Abbot decided to split the research-related pharmaceutical business into a spin-off AbbVie.

Products and services offerings of Abbott Laboratories –

• Diagnostics – Alinity, I-STAT
• Nutrition products – Pediatric nutrition products like Similac and PediSure and Adult nutrition products like Ensure and Juven
• Medical devices – Cardiovascular devices like Heartmate and Xience and Neuromodulation devices like BurstDR Technology

5. AbbVie

• Origin Country: United States of America
• Founded: 2013
• Headquarters: North Chicago, Illinois, U.S.
• Employees in 2023: 55,000
• Annual Revenue: $56.023B (twelve months ending June 30, 2023)
• Market Cap: $263.9B (August 01, 2023)
• Net Income in 2023: $14.077 billion USD
• Market Value in 2023: 250.350 billion USD

AbbVie, a spin-off of the pharmaceutical giant Abbot  Laboratories, is associated with the biopharmaceutical industry. It operates as a research-based manufacturer of pharmaceutical drugs and is focused on finding treatment for dangerous diseases. It is ranked 6th on the list of largest biomedical companies by revenue.

AbbVie is recognized on a number of “Best of” lists related to diversity, leadership, and engagement, as well as for corporate responsibility practices. AbbVie also has over 250 active external innovation partners to conduct groundbreaking science to discover and develop transformational medicines.

AbbVie has entered into collaboration with the Biomedical Advanced Research and Development Authority and the National Institutes of Health to develop COVID 19 treatment therapies.

AbbVie has a product presence in 70+ countries across 5 world regions, manufacturing and R&D facilities, research partnerships with governments, non-profits, universities and biotechs. On average the company offers its products to more than 62 million patients annually across 60+ conditions.

Products and services offerings of AbbVie

• Transformational medicine in therapeutic areas like women’s health, neuroscience, oncology, virology, immunology and eye care

6. Novo Nordisk A/S

• Origin Country: Denmark
• Founded: 1923
• Headquarters: Bagsvaerd, Denmark
• Employees in 2023: 54,400
• Annual Revenue: $26.409 billion (twelve months ending March 31, 2023 )
• Market Cap: $361.47B ((August 1, 2023)
• Net Income in 2023: $8.197 billion USD
• Market Value in 2023: 245.350 billion USD

The Danish-origin Novo Nordisk A/S is one of the largest healthcare companies in the world associated with the pharmaceutical and healthcare industry. The company markets and manufactures pharmaceutical products, medicines and medical devices.

Novo Nordisk A/S has spread its product presence to 169 countries and is a full member of the European Federation of Pharmaceutical Industries and Associations (EFPIA). The healthcare provider has production plants in 9 countries and offices in 5 countries.

The healthcare company offers several drugs under different brand names like

• Levemir
• Victoza
• NovoEight
• NovoSeven
• Tresiba

Products and services offerings of Novo Nordisk A/S –

• Pharmaceutical products and services especially diabetes care
• Medicine
• Medical devices
• Hemostasis management
• Hormone replacement therapy
• Growth hormone therapy

7. Merck & Co

• Origin Country: United States of America
• Founders: Theodore Weicker, George Merck
• Founded: 1891
• Headquarters: Rahway, New Jersey, U.S.
• Employees in 2023: 75,000
• Annual Revenue: $14.5 billion (first quarter of 2023).
• Market Cap: $270.62 billion (August 1st, 2023)
• Net Income in 2023: $16.260 billion USD
• Market Value in 2023: $222.830 billion USD

The American-origin multinational company Merck & Co is one of the largest healthcare providers and pharmaceutical companies in the world. The publicly traded healthcare company is listed on the New York Stock Exchange.

Merck & Co deals in the production and development of biologic therapies, vaccines, medicines and animal health products. The company offers blockbuster drugs for cancer and vaccines against chickenpox and HPV. Based on revenues the healthcare provider is ranked at 87th and 71st positions in 2022 Forbes Global 2000 and 2022 Fortune 500 respectively.

Products and services offerings of Merck & Co

• Drugs for the treatment of cancer, diabetes, immunotherapy
• Pharmaceutical drugs
• Blockbuster drugs like Keytruda (humanized antibody), Gardasil (HPV vaccine) and Bridion (neuromuscular blocking drug) etc.
• Generic drugs
• Vaccines
• Contact lens
• Veterinary medicines
• Diagnostics
• Over-the-counter drugs for in-home care facilities to make the patient journey easy

8. Novartis AG

• Origin Country: Switzerland
• Founder: Johann Rudolf, Alexander Clavel
• Founded: 1996
• Headquarters: Basel, Switzerland
• Employees in 2023: 107,323
• Annual Revenue: $53.073 billion ( twelve months ending June 30, 2023 )
• Market Cap: $222.35B (August 01, 2023 )
• Net Income in 2023: $23.797 billion USD
• Market Value in 2023: $211.260 billion USD

The American-origin multinational company Novartis AG is one of the largest pharmaceutical companies in the healthcare industry. The healthcare provider is a publicly traded healthcare company listed on the New York Stock Exchange. It is one of the largest pharmaceutical companies in the world and was the fourth largest by revenue in 2022.

It reported growth in revenues in every quarter of the year driven by innovative medicines and generic drugs in its established markets like New Zealand, Japan and Western Europe. Novartis has reported a 7% rise in net sales in Q2 of 2023 compared to the same quarter in 2022, indicating continued growth. The company expects sales to rise by a high-single-digit percentage in 2023.

Novartis was formed as a separate company by the merger of the agrochemical and pharmaceutical divisions of two companies Sandoz and Ciba-Geigy. It is a full member of the International Federation of Pharmaceutical Manufacturers and Associations (IFPMA), the European Federation of Pharmaceutical Industries and Associations (EFPIA) and Pharmaceutical Research and Manufacturers of America (PhRMA).

Products and services offerings of Novartis AG

• Generic drugs
• Innovative medicines to enhance health outcomes
• Vaccines
• Contact lenses
• Veterinary medicines for pet care, bio-protection and livestock
• Diagnostics
• Over-the-counter drugs
• Pharmaceutical drugs for hypertension, cancer, COPD, heart failure, malaria etc.

9. Medtronic

• Origin Country: United States of America
• Founded: 1949
• Legal Headquarters: Dublin, Ireland
• Operational Headquarters: Minneapolis, Minnesota, U.S.
• Employees in 2023: 95,000
• Annual Revenue in 2023: $8.544B (quarter ending April 30, 2023)
• Net Income in 2023: $1.180B (quarter ending April 30, 2023)
• Market Value in 2023: $151.390 billion USD
• Market Capitalization in 2023: $111.81B (August 07, 2023)

Medtronic plc is one of the largest healthcare companies in the world listed on the New York Stock Exchange. The American-origin company operates in nearly 150 countries with help of four business units

• Cardiac and Vascular Group
• Restorative Therapies Group
• Diabetes Group
• Minimally Invasive Therapies Group

Medtronic plc is one of the leading healthcare providers that develop and manufacture medical devices and therapies for the treatment of 30 chronic diseases and 70 health conditions. The healthcare provider has 49,000 patents in its portfolio and has invested 2.5 billion USD in research and development.

Products and services offerings of Medtronic –

• Devices and therapies for the treatment of diabetes, spinal disorders, chronic pain, obesity, down syndrome, Parkinson’s disease and heart failure etc.
• Heart rhythm therapies
• Urological – Vessel sealing, ultrasonic dissection etc.
• Surgical navigation & imaging – Visualization solutions
• Spinal & orthopaedic – Bone grafting
• Respiratory – Intubation
• Patient monitoring – OEM monitoring solutions, brain monitoring

10. CVS Health Corporation

• Origin Country: United States of America
• Founder: Stanley Goldstein, Ralph Hoagland, Sidney Goldstein
• Founded: 1963
• Headquarters: Woonsocket, Rhode Island, U.S.
• Employees in 2023: 325,000
• Revenue in 2023: $88.921B (quarter ending June 30, 2023)
• Net Income in 2023: $1.901B (quarter ending June 30, 2023)
• Market Value in 2023: $157.540 billion USD
• Market Capitalization in 2023: $93.62B (August 07, 2023 )

CVS Health Corporation is one of the leading healthcare providers in the world associated with pharmaceutical, health insurance and managed healthcare industries. It is a publicly traded healthcare company listed on the New York Stock Exchange

CVS Health Corporation is an American healthcare company that owns CVS Pharmacy, a retail pharmacy chain; CVS Caremark, a pharmacy benefits manager; and Aetna, a health insurance provider, among many other brands. The company is the world’s largest healthcare company, and its headquarters are in Woonsocket, Rhode Island

CVS Health Corporation operates in the United States with help of CVS Pharmacy (pharmacy retail chain), Aetna (health insurance provider) and CVS Caremark (pharmacy benefits manager) etc. CVS Health Corporation has over 300,000 employees across all 50 states and Puerto Rico.

Products and services offerings of CVS Health Corporation –

• Pharmacy services via 9,900 retail stores, mail pharmacies and chronic care speciality pharmacy services
• CVS Health and wellness services – MinuteClinic, infusion services and preventive services etc.
• CVS Health plans – Medicaid, medicare and health insurance plans for speciality and commercial insurance
• Virtual care services – Mental health and wellness
• Prescription drug coverage

Conclusion

The largest Healthcare companies with advanced lab testing, data analysis and therapeutics are treatment providers that are taking the healthcare industry forward. They have managed to improve outcomes and create a positive environment that offers better care to mankind.

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