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Stryker

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Stryker - Healthcare showcase

Year Founded & Workforce

1941

51,000 Employees

Industry

Healthcare

Services

Portable Medical DevicesBiopsy System
S

Stryker Employee Contacts

771 verified contactsNames, job titles, seniority and locations

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Stryker Overview

Company Headquarters: Michigan, US

Founded: 1941

Workforce: ~51,000

Company Working: Stryker is engaged in developing, manufacturing, and marketing specialty surgical and medical products. Its products include implants, biologics, surgical, neurologic, ear, throat, interventional pain equipment, endoscopic, surgical navigation, communications, and digital imaging systems. The company also offers products for patient handling and emergency medical equipment. It operates through three major segments: medical & surgical equipment (MedSurg), orthopedics, and neurotechnology & spine. Stryker has been focused on providing automation solutions in its product portfolio. It has a presence in over 75 countries across the globe.

Strategy

Stryker focuses on investing in product developments and enhancing the customer experience to boost engagement. The company emphasizes acquisitions to develop a vast product line, capture the maximum market share, and successfully grow its global footprint in the market. It also focuses on acquisitions to address new sectors and maintain its products' innovativeness in all the segments.

Company Snapshot

$11,325M

Revenue

51,000

Employees

1941

Founded

Michigan, US

Headquarters

SWOT Analysis

Strengths

  • Brand value
  • Wide distribution channel
  • Loyal consumers due to the company’s successful track record
  • Wide geographical presence
  • Skilled workforce
  • High employee satisfaction
  • Strong R&D base
  • Large geographical presence with 44 manufacturing and R&D locations worldwide
  • Large and well trained force of 33000
  • High employee satisfaction. Stryker is consistently ranked high by many associations
  • Extensive regional presence and R&D locations worldwide
  • Large and well-trained workforce
  • High employee satisfaction (Consistently ranked high by many associations

Weaknesses

  • Lack of innovations compared to global players
  • Product recalls in the recent years can hamper Stryker's image
  • Revenue dependent on the US
  • Discrepancy in management
  • Large size may cause management issues and complexities
  • Large revenue dependence on the US
  • Major dependency on the US for revenue generation

Opportunities

  • Geographical expansion to increase the market penetration in untapped markets
  • Investments in mergers and acquisitions
  • Lowering the cost of new product launches
  • Local collaboration
  • Large pool of resources which improves project feasibility
  • Stryker moved up the fortune 500 list by thirty five spots to the 252nd rank which improves the public image of the company
  • Increasing demand for advanced technology
  • Collaborations and joint ventures to increase company’s footprint in the global market

Threats

  • Intense competition from leading medical device companies
  • Fluctuating exchange rates
  • Government regulations for product approvals
  • Increasing stringency of regulations
  • Worsening regulatory environment on the US
  • Stiff competition

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Key Developments

DateApproachDevelopment
March 2019AcquisitionStryker acquired OrthoSpace, Ltd. This acquisition helps Stryker’s existing portfolio with highly differentiated technology products for the treatment of massive irreparable rotator cuff tears.
February 2019AcquisitionStryker acquired Arrinex, Inc, thereby enhancing its neurotechnology business.
October 2018AcquisitionStryker acquired Invuity, Inc, which helps the former deliver enhanced visualization for a wide variety of clinical applications, including orthopedic and spine surgery, general surgery, and women's health procedures.
March 2017Product LaunchStryker launched the Mako robotic arm-assisted total knee application system. This system performs total knee, total hip, and partial knee replacements.

Product Offering

  • Stryker
    • Portable Medical Devices
    • Biopsy System

Financial Performance

Explore key financial metrics, segmented revenue, balance sheet health, and performance trends.

By Business Segment: Sales rose from USD 13,601 Mn in 2020 to USD 14,351 Mn in 2022.
Stryker — By Business Segment
Series (USD Mn)202020212022
Sales13,60114,88414,351
R&D Expenditure9841,2351,454

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