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5 Largest Healthcare Companies by Market Cap

In this article we are going to list the 5 largest healthcare companies by market cap. For a detailed coverage of this topic and a more comprehensive list please take a look at the 15 largest healthcare companies by market cap.

5. CVS Health Corporation (NYSE:CVS)

Market cap as at December 24 2022 (in billions): 122.93

With over 10,000 locations in the U.S., CVS Health Corporation (NYSE:CVS) has a dominant presence in the country and in the healthcare sector. However, its share performance has suffered this year, dropping 10% YTD. CVS Health Corporation (NYSE:CVS) has recently moved into healthcare areas which it never touched before by acquiring Signify, a home health company, for around $8 billion in 2022.

4. Elevance Health Inc. (NYSE:ELV)

Market cap as at December 24 2022 (in billions): 123.43

Elevance Health Inc. (NYSE:ELV) is a health insurance company which gained double digits in share performance in YTD 2022. While healthcare has been a terrible industry to invest in recently, Elevance Health Inc. (NYSE:ELV) has been one of the few standout exceptions, which means it must have been doing something right that other companies failed to implement. Elevance Health Inc. (NYSE:ELV) registered a growth in premiums and increased its members to 47 million.

3. Danaher Corporation (NYSE:DHR)

Danaher Corporation (NYSE:DHR) is an American conglomerate which is primarily engaged in both the manufacture and supply of professional and medical equipment. Danaher Corporation (NYSE:DHR) recorded revenues of nearly $30 billion in 2021. To advance its reach in the healthcare industry, Danaher Corporation (NYSE:DHR) has acquired several life sciences companies such as Molecular Devices, Integrated DNA Technologies and Aldveron among numerous others.

2. Thermo Fisher Scientific Inc. (NYSE:TMO)

Market cap as at December 24 2022 (in billions): 212.053

Thermo Fisher Scientific Inc. (NYSE:TMO) is a healthcare company which provides laboratory equipment and instruments, which are generally used in the pharmaceutical industry and diagnostic products. Recently, Thermo Fisher Scientific Inc. (NYSE:TMO) announced that it was raising its greenhouse gases reduction target, which shows a greater emphasis on ESG, which is an integral aspect of considering investing opportunities for the future.

1. UnitedHealth Group Incorporated (NYSE:UNH)

Market cap as at December 24 2022 (in billions): 496.42

Easily topping the list of the 15 largest healthcare companies by market cap is UnitedHealth Group Incorporated (NYSE:UNH), which is worth nearly half a trillion dollars. Despite a year which has devastated most companies in the stock market, UnitedHealth Group Incorporated (NYSE:UNH) actually increased by nearly 6% YTD. Among the largest companies in the world by revenue regardless of industry, UnitedHealth Group Incorporated (NYSE:UNH) earned over $285 billion in 2021 alone, which resulted in net income of over $17 billion.

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The $250 Trillion AI Hype is Real. A few years from now, you’ll probably wish you’d bought this stock.

Dr. Inan Dogan

Dr. Ian Dogan

Co-Founder and Research Director at Insider Monkey

When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

And here’s the wild part — this $250 trillion wave isn’t tied to one company, but to an entire ecosystem of AI innovators set to reshape the global economy.

It’s a leap so massive, it could reshape how businesses, governments, and consumers operate worldwide.

Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.

How could anything be worth that much?

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Before I reveal the details, let’s talk about how some of the richest people on the planet are positioning themselves.

  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

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Dr. Inan Dogan

Dr. Ian Dogan

Co-Founder and Research Director at Insider Monkey

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