BD (BDX)
Medical devices and connected systems spanning everyday care, drug delivery, monitoring, and intervention.
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BD makes the throwaway hardware that hospital care runs on — syringes, IV catheters, blood tubes — plus the pumps, cabinets and monitors that keep those supplies flowing. Early this year it handed its lab and diagnostics arm to Waters for cash, leaving a smaller company built on things used once and thrown away. Growth now has to come from the quicker corners: bedside monitoring, urine management, and injection devices sold to drug makers.
Item facts: 9M FY2026 · nine months ended June 30, 2026, from filings, earnings calls and company pages.
Judgment weights, not filed revenue
The band summarizes business focus and direction. ~ marks estimates.
8 in detail · 12 more below
Medication Delivery Solutions
Syringes, needles, short IV catheters and pre-filled saline flushes — BD's biggest unit at roughly a quarter of sales. It also grew slowest of the eight over nine months: US vascular-access share gains offset by China's bulk buying of supplies.
Competes with Introcan Safety IV catheters (B. Braun) · Arrow PICC lines (Teleflex) · Vascular access and IV therapy portfolio (ICU Medical)
In plain English
Every time a nurse draws up a dose or starts a drip, something from this line is in their hand: a plastic syringe, a needle, a short catheter taped to the back of a wrist, a pre-filled squirt of saline that keeps the line from clogging.
None of it costs much and all of it is thrown out after one patient, so the money is in sheer repetition — hospitals reorder forever. Buying is gated by purchasing groups that negotiate on behalf of their member hospitals, so getting a new insertion kit onto an approved list is how it reaches the wards. No single customer is even a tenth of BD's sales.
Specimen Management
The BD Vacutainer franchise — the vacuum tubes a blood sample is drawn into, plus the needles and holders around them. Up 5.5% over nine months, helped by a rival's back orders sending hospitals to BD. Watch whether that borrowed volume stays.
Competes with VACUETTE blood collection tubes (Greiner Bio-One) · S-Monovette blood collection tubes (Sarstedt)
In plain English
A blood draw works because the tube is empty of air. The vacuum inside pulls exactly the right volume through the needle and then stops; get that wrong and the test result is wrong too.
So the business is turning out these tubes in enormous quantity, consistently enough that lab staff never have to think about them, then selling them to hospitals, reference labs and the walk-in stations where people go to get blood drawn. Consistency is also the weapon: this year a competitor could not fill its orders, and hospitals covered the gap with BD tubes.
Peripheral Intervention
Devices threaded through blood vessels: a tool that shaves away the build-up narrowing an artery, scaffolds that hold a squashed vein open, and ports implanted for cancer treatment. Growth has accelerated several quarters running, with China the named drag.
Competes with IN.PACT and peripheral vascular portfolio (Medtronic) · Peripheral intervention portfolio (Merit Medical)
In plain English
Instead of opening up a leg to clear a blocked artery, a doctor makes a small puncture and threads a thin tube up through the blood vessels. BD sells what travels down that tube: a device that shaves away the build-up narrowing the vessel, mesh scaffolds that prop a squashed vein open, and the small ports implanted under the skin so a cancer patient can be connected for treatment without a fresh needle stick every visit.
Everything is used once and billed with the procedure, so the money follows how many of these procedures get done — and whether the trial evidence exists to let a new device be used at all.
Urology and Critical Care
Built around PureWick, which manages urine without a tube going into the bladder. Grew 7.1% over nine months, second-fastest of the eight, and PureWick alone has strung together more than thirty straight quarters of double-digit growth.
Competes with Sage PrimaFit female external urine management (Stryker) · Sage PrimoFit Flow male external urine management (Stryker)
In plain English
The usual way to manage urine for someone stuck in bed is a tube pushed up into the bladder — it works, and it is a well-known route for infection. PureWick skips the tube: a soft pad sits outside the body and wicks the fluid away, the way a paper towel lifts a spill.
Each pad is thrown out after use, so a ward that switches keeps ordering. The case is made to nurses and to the people who track infection rates, since hospitals are rewarded for keeping catheter infections down. BD is now pushing the same idea into veterans' hospitals and into people's homes, and has added a surgical laser for urology procedures.
Surgery
Two things sold into operating rooms: the antiseptic painted on skin before the first cut, and the mesh that patches a hernia. Grew 6.7% over nine months, both halves double-digit last quarter. A finished trial could open the mesh to prevention.
Competes with 3M SoluPrep S antiseptic solution (Solventum) · ULTRAPRO hernia mesh (Ethicon (J&J)) · OviTex Reinforced Tissue Matrix (TELA Bio)
In plain English
Before a surgeon makes the first cut, the skin is painted with an antiseptic that kills the bacteria living on it. ChloraPrep is that antiseptic, sold in single-use applicators — one per operation, never reused.
The other half of the unit is mesh: a flat patch stitched in to reinforce the weak spot in an abdominal wall where a hernia has pushed through. BD's Phasix version dissolves over time, leaving rebuilt tissue rather than a permanent implant. Both are paid for procedure by procedure, so revenue follows operating-room schedules. A trial finished enrolling this summer that would let the mesh be used to stop hernias forming at all — something no approved product does today.
Medication Management Solutions
Alaris infusion pumps, Pyxis medicine cabinets and pharmacy robots — machines that lock in a decade of disposable sets behind them. Alaris added roughly two share points this year even as replacing its own installed fleet held reported growth back.
Competes with Novum IQ and Spectrum IQ pumps (Baxter) · Plum and LifeCare PCA pumps (ICU Medical) · XT and Titan XT dispensing cabinets (Omnicell)
In plain English
Two fixtures of a modern hospital come from here. One is the infusion pump on a pole beside the bed, the box that pushes a drug into a vein at a controlled rate. The other is the locked cabinet on the ward that hands out medicines and records who took what.
The machines themselves are the smaller part of the money. Each pump runs only on BD's own tubing sets, bought by the carton for the decade the pump stays in service — razor and blades, with the profit in the blades. Leaving is painful too, because the cabinets are wired into the hospital's patient-record system.
Advanced Patient Monitoring
Bought from Edwards Lifesciences for $4.2 billion in 2024: monitors and sensors that track how well blood is moving in operating rooms and intensive care. The smallest of the eight units and the fastest-growing, at 11.3% over nine months.
Competes with Hemodynamic and patient monitoring (Philips) · Noninvasive monitoring (Masimo) · Patient monitoring portfolio (GE HealthCare)
In plain English
In an operating theatre or intensive-care unit, the thing worth watching minute by minute is how well blood is actually moving — pressure, flow, how hard the heart is working. These monitors read that from sensors on the patient, and the software follows the trend to warn staff that blood pressure is heading for a dangerous drop before it arrives.
BD bought the whole line from Edwards Lifesciences two years ago. The screen sells once; the sensors get used up patient after patient, and that is where the growth has been coming from.
BioPharma Systems
The one unit selling to drug makers rather than hospitals: glass syringes, injection pens and wearable injectors that carry someone else's medicine. Around a hundred signed agreements now cover weight-loss and diabetes injections; weak vaccine demand is the offset.
Competes with Nexa and EZ-fill prefilled syringes (Stevanato Group) · Gx RTF prefillable syringes (Gerresheimer) · syriQ prefillable syringes (Schott Pharma)
In plain English
Everything else here is sold to hospitals. This line is sold to drug companies: the empty glass syringe a medicine gets filled into, the pen a patient clicks against their own thigh, and the wearable injector for dosing at home.
A drug maker signs up one medicine at a time, for years, and BD is paid per piece as that drug sells — so the unit rises and falls with its customers' products. The pull right now is injectable weight-loss and diabetes drugs, still only a sliver of BD's sales, which management has said could reach about a billion dollars by the end of the decade. Soft vaccine demand is the counterweight.
Medication Delivery SolutionsSyringes, needles, short IV catheters and pre-filled saline flushes — BD's biggest unit at roughly a quarter of sales. It also grew slowest of the eight over nine months: US vascular-access share gains offset by China's bulk buying of supplies.Syringes, needles, short IV catheters and pre-filled saline flushes — BD's biggest unit at roughly a quarter of sales. It also grew slowest of the eight over nine months: US vascular-access share gains offset by China's bulk buying of supplies.
In plain English
Every time a nurse draws up a dose or starts a drip, something from this line is in their hand: a plastic syringe, a needle, a short catheter taped to the back of a wrist, a pre-filled squirt of saline that keeps the line from clogging.
None of it costs much and all of it is thrown out after one patient, so the money is in sheer repetition — hospitals reorder forever. Buying is gated by purchasing groups that negotiate on behalf of their member hospitals, so getting a new insertion kit onto an approved list is how it reaches the wards. No single customer is even a tenth of BD's sales.
Competes with Introcan Safety IV catheters (B. Braun) · Arrow PICC lines (Teleflex) · Vascular access and IV therapy portfolio (ICU Medical)
Specimen ManagementThe BD Vacutainer franchise — the vacuum tubes a blood sample is drawn into, plus the needles and holders around them. Up 5.5% over nine months, helped by a rival's back orders sending hospitals to BD. Watch whether that borrowed volume stays.The BD Vacutainer franchise — the vacuum tubes a blood sample is drawn into, plus the needles and holders around them. Up 5.5% over nine months, helped by a rival's back orders sending hospitals to BD. Watch whether that borrowed volume stays.
In plain English
A blood draw works because the tube is empty of air. The vacuum inside pulls exactly the right volume through the needle and then stops; get that wrong and the test result is wrong too.
So the business is turning out these tubes in enormous quantity, consistently enough that lab staff never have to think about them, then selling them to hospitals, reference labs and the walk-in stations where people go to get blood drawn. Consistency is also the weapon: this year a competitor could not fill its orders, and hospitals covered the gap with BD tubes.
Competes with VACUETTE blood collection tubes (Greiner Bio-One) · S-Monovette blood collection tubes (Sarstedt)
Peripheral InterventionDevices threaded through blood vessels: a tool that shaves away the build-up narrowing an artery, scaffolds that hold a squashed vein open, and ports implanted for cancer treatment. Growth has accelerated several quarters running, with China the named drag.Devices threaded through blood vessels: a tool that shaves away the build-up narrowing an artery, scaffolds that hold a squashed vein open, and ports implanted for cancer treatment. Growth has accelerated several quarters running, with China the named drag.
In plain English
Instead of opening up a leg to clear a blocked artery, a doctor makes a small puncture and threads a thin tube up through the blood vessels. BD sells what travels down that tube: a device that shaves away the build-up narrowing the vessel, mesh scaffolds that prop a squashed vein open, and the small ports implanted under the skin so a cancer patient can be connected for treatment without a fresh needle stick every visit.
Everything is used once and billed with the procedure, so the money follows how many of these procedures get done — and whether the trial evidence exists to let a new device be used at all.
Competes with IN.PACT and peripheral vascular portfolio (Medtronic) · Peripheral intervention portfolio (Merit Medical)
Urology and Critical CareBuilt around PureWick, which manages urine without a tube going into the bladder. Grew 7.1% over nine months, second-fastest of the eight, and PureWick alone has strung together more than thirty straight quarters of double-digit growth.Built around PureWick, which manages urine without a tube going into the bladder. Grew 7.1% over nine months, second-fastest of the eight, and PureWick alone has strung together more than thirty straight quarters of double-digit growth.
In plain English
The usual way to manage urine for someone stuck in bed is a tube pushed up into the bladder — it works, and it is a well-known route for infection. PureWick skips the tube: a soft pad sits outside the body and wicks the fluid away, the way a paper towel lifts a spill.
Each pad is thrown out after use, so a ward that switches keeps ordering. The case is made to nurses and to the people who track infection rates, since hospitals are rewarded for keeping catheter infections down. BD is now pushing the same idea into veterans' hospitals and into people's homes, and has added a surgical laser for urology procedures.
Competes with Sage PrimaFit female external urine management (Stryker) · Sage PrimoFit Flow male external urine management (Stryker)
SurgeryTwo things sold into operating rooms: the antiseptic painted on skin before the first cut, and the mesh that patches a hernia. Grew 6.7% over nine months, both halves double-digit last quarter. A finished trial could open the mesh to prevention.Two things sold into operating rooms: the antiseptic painted on skin before the first cut, and the mesh that patches a hernia. Grew 6.7% over nine months, both halves double-digit last quarter. A finished trial could open the mesh to prevention.
In plain English
Before a surgeon makes the first cut, the skin is painted with an antiseptic that kills the bacteria living on it. ChloraPrep is that antiseptic, sold in single-use applicators — one per operation, never reused.
The other half of the unit is mesh: a flat patch stitched in to reinforce the weak spot in an abdominal wall where a hernia has pushed through. BD's Phasix version dissolves over time, leaving rebuilt tissue rather than a permanent implant. Both are paid for procedure by procedure, so revenue follows operating-room schedules. A trial finished enrolling this summer that would let the mesh be used to stop hernias forming at all — something no approved product does today.
Competes with 3M SoluPrep S antiseptic solution (Solventum) · ULTRAPRO hernia mesh (Ethicon (J&J)) · OviTex Reinforced Tissue Matrix (TELA Bio)
Medication Management SolutionsAlaris infusion pumps, Pyxis medicine cabinets and pharmacy robots — machines that lock in a decade of disposable sets behind them. Alaris added roughly two share points this year even as replacing its own installed fleet held reported growth back.Alaris infusion pumps, Pyxis medicine cabinets and pharmacy robots — machines that lock in a decade of disposable sets behind them. Alaris added roughly two share points this year even as replacing its own installed fleet held reported growth back.
In plain English
Two fixtures of a modern hospital come from here. One is the infusion pump on a pole beside the bed, the box that pushes a drug into a vein at a controlled rate. The other is the locked cabinet on the ward that hands out medicines and records who took what.
The machines themselves are the smaller part of the money. Each pump runs only on BD's own tubing sets, bought by the carton for the decade the pump stays in service — razor and blades, with the profit in the blades. Leaving is painful too, because the cabinets are wired into the hospital's patient-record system.
Competes with Novum IQ and Spectrum IQ pumps (Baxter) · Plum and LifeCare PCA pumps (ICU Medical) · XT and Titan XT dispensing cabinets (Omnicell)
Advanced Patient MonitoringBought from Edwards Lifesciences for $4.2 billion in 2024: monitors and sensors that track how well blood is moving in operating rooms and intensive care. The smallest of the eight units and the fastest-growing, at 11.3% over nine months.Bought from Edwards Lifesciences for $4.2 billion in 2024: monitors and sensors that track how well blood is moving in operating rooms and intensive care. The smallest of the eight units and the fastest-growing, at 11.3% over nine months.
In plain English
In an operating theatre or intensive-care unit, the thing worth watching minute by minute is how well blood is actually moving — pressure, flow, how hard the heart is working. These monitors read that from sensors on the patient, and the software follows the trend to warn staff that blood pressure is heading for a dangerous drop before it arrives.
BD bought the whole line from Edwards Lifesciences two years ago. The screen sells once; the sensors get used up patient after patient, and that is where the growth has been coming from.
Competes with Hemodynamic and patient monitoring (Philips) · Noninvasive monitoring (Masimo) · Patient monitoring portfolio (GE HealthCare)
BioPharma SystemsThe one unit selling to drug makers rather than hospitals: glass syringes, injection pens and wearable injectors that carry someone else's medicine. Around a hundred signed agreements now cover weight-loss and diabetes injections; weak vaccine demand is the offset.The one unit selling to drug makers rather than hospitals: glass syringes, injection pens and wearable injectors that carry someone else's medicine. Around a hundred signed agreements now cover weight-loss and diabetes injections; weak vaccine demand is the offset.
In plain English
Everything else here is sold to hospitals. This line is sold to drug companies: the empty glass syringe a medicine gets filled into, the pen a patient clicks against their own thigh, and the wearable injector for dosing at home.
A drug maker signs up one medicine at a time, for years, and BD is paid per piece as that drug sells — so the unit rises and falls with its customers' products. The pull right now is injectable weight-loss and diabetes drugs, still only a sliver of BD's sales, which management has said could reach about a billion dollars by the end of the decade. Soft vaccine demand is the counterweight.
Competes with Nexa and EZ-fill prefilled syringes (Stevanato Group) · Gx RTF prefillable syringes (Gerresheimer) · syriQ prefillable syringes (Schott Pharma)
Named in filings, launches and programs
- BD AlarisProduct lineThe infusion pump platform inside the pumps-and-cabinets unit; about two share points gained this year while BD upgrades the pumps already in hospitals.
- BD Pyxis ProProduct · RampingFirst new medicine-cabinet hardware in roughly twenty years, cloud-connected; most early orders came from hospitals switching off a competitor's cabinets.
- BD RowaProduct linePharmacy automation robots sold alongside the cabinets; management called them out as a bright spot in the latest quarter.
- BD IncadaPlatform · RampingAn AI layer that pools data from BD's machines. Pyxis Pro feeds it first, pumps and monitors next. No revenue disclosed yet.
- HemoSphere AltaProduct · RampingThe newest monitor in the acquired critical-care line, out since April 2025; it joins BD's AI layer after the cabinets and pumps.
- BD Vystra injection penProduct · RampingA pen sold to drug makers. BD says it captures more value per dose than selling a bare syringe does.
- BD Libertas wearable injectorProduct · Pre-revenueA wearable injector meant for dosing lab-grown protein medicines at home; no sales disclosed.
- GLP-1 device agreement bookCustomer program · RampingMulti-year supply deals with drug makers for weight-loss and diabetes injections, added steadily since 2025; nearly all the counterparties stay undisclosed.
- EMS semaglutide program, BrazilCustomer programThe one named partner: Brazilian drug maker EMS launched a weight-loss and diabetes injection on BD's Vystra pen in July 2026.
- BD Liverty TIPS Stent GraftProduct · RampingA vein scaffold launched in Europe in April 2026 on trial data; management sizes the venous market it enters near $2B.
- BD Elyra Thulium Fiber LaserProduct · RampingA urology laser launched in mid-2026, BD's step into a corner of urology management sizes at roughly $1.5B.
- BD CentroVena OneProduct · RampingAn all-in-one kit for placing a central line; a June 2026 purchasing award opens the door at Vizient's member hospitals.
BD AlarisProduct line
The infusion pump platform inside the pumps-and-cabinets unit; about two share points gained this year while BD upgrades the pumps already in hospitals.
BD Pyxis ProProduct · Ramping
First new medicine-cabinet hardware in roughly twenty years, cloud-connected; most early orders came from hospitals switching off a competitor's cabinets.
BD RowaProduct line
Pharmacy automation robots sold alongside the cabinets; management called them out as a bright spot in the latest quarter.
BD IncadaPlatform · Ramping
An AI layer that pools data from BD's machines. Pyxis Pro feeds it first, pumps and monitors next. No revenue disclosed yet.
HemoSphere AltaProduct · Ramping
The newest monitor in the acquired critical-care line, out since April 2025; it joins BD's AI layer after the cabinets and pumps.
BD Vystra injection penProduct · Ramping
A pen sold to drug makers. BD says it captures more value per dose than selling a bare syringe does.
BD Libertas wearable injectorProduct · Pre-revenue
A wearable injector meant for dosing lab-grown protein medicines at home; no sales disclosed.
GLP-1 device agreement bookCustomer program · Ramping
Multi-year supply deals with drug makers for weight-loss and diabetes injections, added steadily since 2025; nearly all the counterparties stay undisclosed.
EMS semaglutide program, BrazilCustomer program
The one named partner: Brazilian drug maker EMS launched a weight-loss and diabetes injection on BD's Vystra pen in July 2026.
BD Liverty TIPS Stent GraftProduct · Ramping
A vein scaffold launched in Europe in April 2026 on trial data; management sizes the venous market it enters near $2B.
BD Elyra Thulium Fiber LaserProduct · Ramping
A urology laser launched in mid-2026, BD's step into a corner of urology management sizes at roughly $1.5B.
BD CentroVena OneProduct · Ramping
An all-in-one kit for placing a central line; a June 2026 purchasing award opens the door at Vizient's member hospitals.