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Medtronic’s Revenue by Segment (2016-2023)

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This statistic highlights Medtronic’s Revenue by Segment, split across Cardiac & Vascular Group, Diabetes Group, Minimally Invasive Therapies Group, and Restorative Therapies Group, and reported on a quarterly starting from 2016 onwards.
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This statistic highlights Medtronic’s Revenue by Segment, split across Cardiac & Vascular Group, Diabetes Group, Minimally Invasive Therapies Group, and Restorative Therapies Group, and reported on a quarterly starting from 2016 onwards.

Medtronic’s Revenue By Segment:

Category Q3 2023 Q3 2022 YoY Growth Revenue share of Q3 2023
Cardiac & Vascular Group 2,772 2,745 0% 36%
Diabetes Group 570 584 -2% 7%
Minimally Invasive Therapies Group 2,137 2,290 -7% 29%
Restorative Therapies Group 2,248 2,144 5% 28%
Total 7,727 7,763 0% 100%

(All figures in USD, except percentages)

In Q3 2023, the revenue of the cardiac and vascular group has the highest contribution of 36% as compared to other categories. The diabetes group and minimally invasive therapies group has declined from 2% and 7% year-over-year growth respectively.

Cardiac & Vascular Group

It is for developing and delivering innovative solutions for the diagnosis, treatment, and management of cardiovascular diseases. It focuses on developing medical devices and therapies related to the heart and blood vessels. The key areas and products of the cardiac and vascular group are:

  • Cardiac Rhythm Management (CRM): It includes implantable devices such as pacemakers and implantable cardioverter-defibrillators(ICDs). Pacemakers help to regulate the heart’s electrical impulses, while ICDs help to monitor the heart rhythm and deliver therapy, such as shocks or pacing.
  • Structural Heart: It focuses on advanced technologies for structural heart interventions, such as transcatheter aortic valve replacement (TAVR)systems, which provide a minimally invasive alternative to traditional open-heart surgery for patients.

Diabetes Group

It offers a wide range of products and services which help individuals to manage their diabetes effectively. These include insulin pumps and continuous glucose monitoring (CGM)systems.

  • Insulin Pumps: The company develops and manufactures insulin pumps that are designed to deliver insulin to individuals with diabetes. These pumps come in various features and models. It offers precise insulin delivery, allowing individuals to customize their insulin doses which are based on their lifestyle, and activity levels.
  • Continuous glucose monitoring(CGM)systems: These systems consist of a small glucose sensor inserted under the skin that continuously measures glucose levels in interstitial fluid.

Minimally Invasive Therapies Group

MITG is dedicated to improving patient outcomes, enhancing surgical efficiency, and reducing healthcare costs through the advancement of minimally invasive surgical techniques. It offers a wide range of medical devices and technologies across various medical specialties, including surgical solutions, gastrointestinal products, patient monitoring systems, and surgical navigation and imaging systems.

Restorative Therapies Group

This group provides innovative solutions which address a wide range of medical needs related to the nervous system, musculoskeletal system, and other areas of the body. The key areas of RTG include:

  • Neuromodulation: It involves the use of implanted devices that deliver electrical stimulation to specific nervous systems such as the brain, spinal cord, or peripheral nerves.
  • Spine: The RTG’s spine portfolio comprises products and treatments for spinal disorders. This includes surgical solutions for spinal deformities and spinal cord stimulation for pain management.

About Medtronic’s

Medtronic’s company is one of the largest companies in the field of medical devices and therapies. It was founded in 1949.  The company focuses on developing and manufacturing medical devices and therapies that treat more than 30 chronic diseases. The company operates in several therapeutic areas, including cardiology, diabetes, neurology, and spinal & orthopedic surgery. Medtronic’s products are sold in over 150 countries worldwide, and the company has a vast global network of manufacturing facilities, research centers, and sales offices.

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