Medical Device Companies in San Diego to Watch
There are over 200 medical device and diagnostic equipment companies in San Diego County with the city of Carlsbad boasting the highest concentration, according to the San Diego Regional Economic Development Corporation. The sector is an important component of the life sciences cluster that has been flourishing in the area for the past few decades. Trade shows such as the 10X Medical Device Conference are a sign of the city’s expanding reputation in the industry.
Here are a handful of the key companies and a look at what they are working on.
- ACON Laboratories – current product lines include diabetes care, urinalysis, immunoassays, point of care testing, and veterinary diagnostics. These products – OptiLance, CentriVet, HelathyMe, Mission, On Call, and Foresight – are used in a variety of channels including hospitals, clinical laboratories, physician offices, blood banks, pharmacies, veterinary clinics, and other channels in 130 countries.
- Dexcom – provides state-of-the-art diabetes care technology, including continuous glucose monitoring phone apps. In 2017, the company ranked #2 on Forbes’ list for most innovative growth companies. Dexcom also increased its employee count by two-thirds from 2015, and quintupled its stock in the past 5 years.
- Illumina – provides sequencing and array-based solutions for analysis of genetic variation and function in fields ranging from cancer research to agriculture. Illumina is #391 on Forbes’ list of America’s largest public companies. Over the past year, the company’s share price has outperformed its industry and has a 20% expected growth rate for the next three to five years.
- NuVasive – creates more than 90 products and procedures that transform spine surgery. Fully invested in non-invasive spinal surgery, NuVasive is the third-largest medical device company in the global spine industry.
- Quidel – a diagnostic health care manufacturer with a range of products that feature immunoassay development, automated manufacturing, monoclonal antibody characterization and development, and molecular assay development. The company’s total revenue experienced more than 200% increase from 2016 to 2017 – exploding from $52.8 million to $114.9 million.
- ResMed – offers award-winning devices and software solutions that help treat and manage sleep apnea, chronic obstructive pulmonary disease, and other respiratory conditions. With a commitment to innovation as seen in its cloud-connected devices, ResMed’s stock value has experienced a steady, long-range growth since its inception.
- Tandem Diabetes Care – produces diabetes care management products such as touchscreen insulin pumps. Despite industry competition and a disappointing sales performance for the beginning of 2017, the company posted a 42% year-over-year increase in sales for Q1 2018.