In the United States, the healthcare sector accounts for a major portion of the GDP – a whopping 18.3%, to be precise. While many companies contribute towards the annual healthcare revenue, there are a few that are leading the way.
These prominent names offer plenty of opportunities for B2B businesses with a target market in healthcare to expand operations and boost revenue. As the third-largest healthcare market in the world, top healthcare companies in USA are the best choice for companies and investors looking to diversify their portfolios.
Read on to discover the top 10 largest healthcare companies in USA based on their market cap.
Discover the Top Healthcare Companies in USA
The healthcare sector encompasses more than just medical care and facilities. It includes medical care, insurance companies, health tech organizations, medical device manufacturers, pharmaceutical companies, and various out-of-the-hospital medical services as well.
Below, we’ve highlighted some of the top 10 largest healthcare companies spread across different health segments in the United States.
- UnitedHealth Group
- CVS Health Corp
- The Cigna Group
- McKesson Corp
- Pfizer Inc.
- Cencora Inc
- Centene Corp
- Cardinal Health Inc
- Walgreens Boots Alliance Inc.
- Baxter International
Market Cap: $497.95B
Revenue: $359.98 B
Company Size: 10,001+
UnitedHealth Group is the largest healthcare and well-being company in the United States based out of Minnesota. Founded in the 1970s, the company operates via two primary divisions – Optum and UnitedHealthcare – to make high-quality care affordable and accessible for everyone.
Optum delivers care guided by technology and data, empowering healthcare providers, partners, and people with the tools and guidance they need to achieve better health. UnitedHealthcare is an insurance and managed care company offering health insurance plans and services that suit people’s needs. They provide services to employers, businesses, government, and individuals.
2. CVS Health Corp
Market Cap: $103.41 B
Revenue: $347.80 B
Company Size: 300,000+
The parent company of a well-known and leading pharmacy chain, CVS Health Corp, is among the top 100 healthcare companies in USA by revenue. Headquartered in Woonsocket, Rhode Island, they are one of the largest pharmacy benefits management (PMB) companies.
The company has expanded its operations to become a fully integrated provider of healthcare services. The company offers solutions such as:
- Healthcare and wellness products
- Beauty products
- Personal care products
- Disease management
- Administrative services
CVS Health Corp offers high-quality care helping people regulate their emotional and physical well-being. They also enable accessible healthcare with initiatives like MinuteClinics and HealthHUB.
Customers can also access their services through online applications developed for each of their unique offerings. These include:
- Athena Health App (Life insurance)
- CVS Caremark (Convenient prescription refill)
- CVS Pharmacy (Healthcare and wellness shop)
- CVS Specialty (Specialized medication support)
Market Cap: $91.55 B
Revenue: $189.85 B
Company Size: 71,300+
Another one of the top 10 healthcare companies in USA, Cigna Corp has a massive global reach serving people in over 30 countries.
The company offers managed healthcare and insurance products via two divisions – Cigna Healthcare and Evernorth Health Services. While the primary offerings are health and dental insurance, they also provide disability, life, and accident insurance with different budget options. Most of these plans are offered through employers and other groups such as government organizations, unions, and associations.
Cigna Healthcare offers comprehensive and cost-efficient healthcare plans and solutions to access medical care, specialty medications, mental and health wellness benefits, vision care, and more. Evernorth Health services comprise solutions related to pharmacy, value-based care, and pharmacy benefits management. They also provide medical benefits management to healthcare facilities and organizations, empowering them to improve their patient care and clinical workflows.
Market Cap: $291.09 B
Revenue: $189.85 B
Company Size: 51,000+
An impact-driven organization, McKesson offers solutions and products to almost every healthcare field. They serve retail pharmacies, long-term care sites, medical surgical manufacturers, physicians, home care agencies, and pharmaceutical manufacturers.
As one of the biggest healthcare companies, they primarily deal with wholesale medical supplies and equipment, pharmaceutical distribution, and healthcare technology solutions.
The company operates its business through four major business segments:
- US Pharmaceutical: Focus on wholesale drug distribution and value-added technology solutions for health systems, community providers, specialty clinics, and retail pharmacies.
- Prescription Technology Solutions: Brings together providers, pharmacies, payers, and biopharma to enhance medication access and address adherence challenges.
- Medical-Surgical Solutions: Provides medical-surgical supplies and logistics services to healthcare providers, including surgery centers, nursing homes, home healthcare agencies, physician offices, and hospital reference labs.
- International: Offers services to wholesale, retail, and institutional customers in Europe and Canada.
5. Pfizer Inc.
Market Cap: $163.238B
Revenue: $99.9 billion
Company Size: 83,000
Another one of the largest healthcare companies in USA, Pfizer Inc., manufactures and offers biopharmaceuticals. The company has developed several well-known pharmacy products, including Advil, Lyrica, Bextra, and Robitussin. They are also the mastermind behind many sought-after consumer products like Chapstick and Preparation-H.
More specifically, Pfizer offers products that treat cardiovascular problems, inflammation, immune disorders, and women’s health issues. The company also mass-produces penicillin and vaccines to prevent rare diseases.
Though the company is headquartered in New York City, Pfizer has major manufacturing setups in China, Japan, India, Ireland, Belgium, Singapore, and the United States. The company operates in 180 countries and produces more than 350 different pharmaceuticals.
6. Cencora Inc
Market Cap: $42.97 B
Revenue: $262.17 B
Company Size: 46,000+
Formerly Known as AmerisourceBergen Corp, Cencora is a pharmaceutical sourcing and distribution company. They help healthcare providers and pharmaceutical manufacturers improve patient access to medications and quality care. The company has designed advanced solutions to enhance the efficiency of the pharmaceutical supply chain in human and animal health.
With its headquarters in Chesterbrook, Pennsylvania, Cencora handles around 20% of the medicines and medical supplies being distributed and sold in the country.
They distribute specialty, generic, branded, and over-the-counter healthcare products. They also provide home healthcare supplies and equipment alongside related products to hospitals, pharmacies, medical clinics, and long-term care facilities.
In addition to sourcing and distribution services, Cencora offers data analytics, staffing, pharmacy management, and software solutions to help their clients navigate the challenging and ever-evolving healthcare landscape.
7. Centene Corp
Market Cap: $41.68 B
Revenue: $150.10 B
Company Size: 10,001+
Centene Corp. is a healthcare company providing services to government-sponsored healthcare programs. They operate through two segments: Managed Care and Specialty Services.
The Managed Care segment provides health plan coverage to people through government-subsidized initiatives. Its covered benefits include primary and specialty physician care, inpatient and outpatient hospital care, and telehealth services, among others.
The Specialty Services segment provides healthcare services and products to healthcare organizations, state programs, correctional facilities, employer groups, and other commercial organizations.
Notably, Centene ranks 25th on the Fortune 500 List of Largest US Corporations by Revenue.
Market Cap: $25.63 B
Revenue: $210.17 B
Company Size: 48,000+
With more than 50 years of experience, Cardinal Health serves nearly 90% of all hospitals in the United States, as well as 60K+ US pharmacies and 10K+ specialty physician clinics.
The company, headquartered in Dublin, Ohio, is a distributor of pharmaceuticals, medical equipment, and laboratory products. They also provide end-to-end healthcare solutions and data-driven insights that help medical companies streamline their business operations and deliver better services or solutions.
Cardinal Health operates through the two segments:
- Pharmaceutical: This segment distributes generic and branded pharmaceuticals, time-sensitive radiopharmaceuticals, and over-the-counter healthcare products.
- Medical: This segment manufactures and sources branded and specialty medical, laboratory, and surgical products and devices.
The company, lastly, offers technology and business solutions to specialty clinics, private practices, and hospitals to enhance clinical workflows and improve patient outcomes.
Market Cap: $21.27B
Revenue: $210.17 B
Company Size: 330,000
Like CVS, Walgreens Boots Alliance is an integrated healthcare, retail, and pharmacy company. Walgreens offers medication, beauty and personal care products alongside health and wellness services.
The company operates through three key segments. The first is US Retail Pharmacy, which covers the operations of retail drug stores under the brand name Walgreens and Duane Reade. This segment also provides mail and central specialty pharmacy services through digital platforms and offline stores.
Second is the International Segment, which focuses on health and beauty retail business outside the United States as well as in the distribution and wholesaling of pharmaceuticals in Germany.
Finally, the US Healthcare segment provides personalized and equitable whole-person healthcare to local communities across America, where it’s best for customers – at home, in the doctor’s office or online. Walgreens partners and collaborates with other healthcare facilities and providers, such as VillageMD and BrightSpring Health Services, to facilitate this.
Market Cap: $20.50 B
Revenue: $14.95 B
Company Size: 330,000
Baxter International is one of the top healthcare companies in USA, offering solutions that enhance patient outcomes to healthcare professionals and caregivers. The company’s advanced products and services find applications in hospitals, nursing homes, rehabilitation centers, kidney dialysis centers, and patients at home.
Baxter has operations in America along with Africa, Europe, the Middle East, and Asia-Pacific. They distribute their products with a network of independent distributors, specialty pharmacies, drug wholesalers, and a direct sales force.
Some of Baxter International’s product offerings to ensure smarter and personalized care:
- Sterile intravenous solutions
- Acute and chronic dialysis therapies
- Infusion systems and devices
- Inhaled anesthetics
- Advanced surgical equipment
- Smart bed systems
- Surgical hemostat and sealant products
In the United States, several multinational healthcare companies focus on different aspects of healthcare, from medical supplies to health insurance and pharmaceuticals to medical care.
Nonetheless, all these top healthcare companies in USA account for a major portion of the country’s gross domestic product. They play a key role in driving the US healthcare industry forward with their innovation and dedication to improving healthcare.
B2B businesses targeting the healthcare industries will find these healthcare companies a profitable avenue to explore. They are the largest healthcare companies in the USA, constantly striving to provide cutting-edge solutions and influence the lives of patients every day. Reaching out to them will yield positive results and increase your healthcare business sales.