Top 10 Medical Companies in the World in 2021 by R&D Expenditure
Medtronic Plc, Johnson & Johnson, Abbott Laboratories, 3M Co, and Koninklijke Philips NV are the top 5 medical companies in the world in 2021 by R&D expenditure. Cumulatively, the top 10 companies reported R&D expenditure of $17,574 million in 2021, the highest R&D expenditure was reported by Medtronic Plc ($2,493 million), followed by Johnson & Johnson ($2,174 million) and Abbott Laboratories ($1,908 million), while Thermo Fisher Scientific Inc ($1,181 million) stood the lowest. In terms of the geographical split, 4 out of 10 Global Companies are based in North America, while 3 are based in Asia, and the remaining 3 are based in Europe. They employed a total of 976,151 people in 2021. The US-based Danaher Corp (Danaher) is one of the leading companies in the world in 2021 by R&D expenditure. It offers a wide range of testing instruments, communications solutions, water quality systems, medical diagnostic solutions, life science research tools, professional microscopes, product identification solutions, sustainable packaging design solutions, automation solutions, and sensors and controls solutions. The company operates manufacturing, sales, distribution, service and administrative facilities in Europe, Australia, Asia, and the Americas. Danaher is headquartered in Washington DC, the US. The US-based Thermo Fisher Scientific Inc (Thermo Fisher) is another leading company in the world in 2021 by R&D expenditure. The company reported revenues of $39,211 million for the fiscal year ended December 2021 (FY2021), while the company spent $1,181 million on R&D. The company has a range of products which include technologies for mass spectrometry, genetic sequencing, electron microscopy, protein, and molecular biology research. The company serves pharmaceutical and biotech companies, academic and research institutions, clinical diagnostic labs, and government agencies; and environmental, industrial quality, and process control sectors. Thermo Fisher is headquartered in Waltham, Massachusetts, the US.