Biomedical Tier 1, Tier 2, and Tier 3 Companies

This article was published by our Senior Biomedical Trainer Ms. Rashika Murugan, ATHEENAPANDIAN PRIVATE LIMITED

As biomedical Engineers, we have no idea how to get into the market. We're seeking someone who can help us to enhance our knowledge about the market and industry information.

This chapter details about what are all the companies that are available for biomedical engineers, as well as how we classified them.

Mainly companies or corporates are been classified into three categories by the market:

1. Tier1,

2. Tier 2, and

3. Tier3.

These categories are based on the revenue generation of the company in the current year.

Let's take a closer look at the various Tiers now.

TIER 1: Tier 1 corporations are the industry's largest, wealthiest, and most experienced. They are the suppliers at the first level. This category is so exclusive that only a few major companies come under the tier-1 category. They have the knowledge, resources, and funds to handle such large-scale initiatives. Tier one contracts typically cost the ranges in the hundreds of millions and even billions.

In the field of healthcare, I've created a list of some of the most well-known

Tier-1 companies that manufacture medical equipment.

1. Medtronic.inc

2. Johnson & Johnson

3. Abbott Laboratories

4. Philips Healthcare

5. Fresenius Medical Care

6. GE Healthcare

7. Becton Dickinson & Company

8. Siemens Healthcare

9. Cardinal Health

10. Stryker

TIER 2:Tier 2 companies are suppliers who, despite their lower importance in the supply chain, are generally constrained in their production capabilities. These corporations are often smaller and have fewer technological advantages than Tier 1 corporations. They're in the middle of tiers 1 and 3. Tier 2 firms are more likely than tier 1 firms to take on commercial projects.

TIER 3: You may definitely guess that tier

3 organizations handle smaller tasks now that you know a little bit about the tier classifications. There are many more of them in the area, and they have plenty of work to keep them occupied. Tier 3 firms often take on projects in the million-dollar to $15,000-dollar range; maybe a little more, occasionally a little less.

That is all about the brief introduction about the TIER level Companies

Thank You Very Much

With Best Regards

Ms. Rashika Murugan

Biomedical Trainer

ATHEENAPANDIAN PRIVATE LIMITED