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Innovation

The dynamics of innovation in medical technology are changing rapidly.

. At the same time, innovation becomes more important to justify premium prices and create a sustainable competitive advantage.

Some of the most innovative companies—so-called “high science” companies—are outperforming their peers. While success stories vary in detail, certain innovation levers seem to increase the likelihood of success. They include:

  • Placing big bets on fewer, but larger innovation projects
  • Moving from traditional, incremental product innovation to disruptive and customer-focused technology and business model innovation
  • Finding the right mix of internal and external innovation sources
  • Leveraging world-class, clinical-trial capabilities to create medical or financial proof early on
  • Establishing greater alignment within the organization

As a consequence, "high science" companies grow more than twice the industry average.

Medical Devices & Technology
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