The Biggest Healthcare Companies in the World
In this article, we’ll take a look at the world’s largest healthcare companies. We will rank the top 5 biggest healthcare companies by market capitalisation, as well as sharing the largest healthcare companies in terms of revenue.
Table of Contents
The Largest Healthcare Companies by Market Capitalisation
In the following sections, we will take a look at each of the top 5 biggest healthcare companies in the world by market cap.
1. UnitedHealth
UnitedHealth is a health insurance and services company which is based in the US. It is one of the largest companies in the world and the largest healthcare company by market capitalisation.
UnitedHealth is a very diverse healthcare company, offering insurance plans to both employers and individuals, as well as a range of services including software, analytics and direct healthcare services.
2. Elevance Health
The next largest healthcare company in the world by market cap is Elevance Health. Elevance Health, previously Anthem Inc., is a US health insurance provider which provides services to more than 100 million people.
3. Cigna
Cigna is another health insurance company, which was formed in 1982 via a merger between the Connecticut General Life Insurance Company and INA Corporation. The healthcare company currently serves around 186 million customers, an increase of 13% from 2023.
4. HCA Healthcare
HCA Healthcare is the next largest healthcare company in the world by market cap, and is the first on our list which is not a health insurance company. HCA Healthcare is an operator of healthcare facilities, operating 186 hospitals and around 2,400 sites of care across 20 US states and the United Kingdom.
5. McKesson
McKesson is a company which distributes pharmaceuticals and medical supplies. It is responsible for distributing around one third of all pharmaceuticals used in the US.
Biggest Healthcare Companies in the World by Revenue
So, now we have seen the largest healthcare companies in terms of market capitalisation, what about revenue? For the purposes of this list, we are looking at revenue generated in the year ending 31 December 2023.
1. CVS Health
| Revenue: $357.8 billion |
CVS Health is best known for its retail pharmacy chain, CVS Pharmacy, but it also runs a pharmacy benefit management business and owns Aetna, a health insurance provider. In terms of revenue, CVS Health is the largest healthcare company in the world.
2. McKesson
| Revenue: $301.5 billion |
Despite ranking fifth in terms of market capitalisation, when we look at revenue, McKesson rises up to second place in the list of the biggest healthcare companies in the world.
3. UnitedHealth
| Revenue: $281.4 billion |
In terms of revenue, UnitedHealth slips to third place in the list of the world’s biggest healthcare companies.
4. Cencora
| Revenue: $271.7 billion |
Cencora, formerly known as AmerisourceBergen, is a US pharmaceutical wholesale company and contract research organisation.
5. Cardinal Health
| Revenue: $216.2 billion |
Cardinal Health is a pharmaceutical distributor and a manufacturer and distributor of medical and laboratory products. It serves nearly 90% of US hospitals and more than 60,000 US pharmacies.
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FAQ
What is the largest healthcare company in the world?
UnitedHealth Group is the largest healthcare company in the world in terms of market capitalisation. However, in terms of revenue, CVS Health is the biggest healthcare company.
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