Philips is number one in the world rankings of the most innovative medtech companies – that according to the Boston Consulting Group’s (BCG) worldwide 2020 “Top 50 Most Innovative Companies” survey. In the overall rankings of innovation, the Amsterdam-based multinational climbed 6 spots from last year’s assessment, coming in at number 23 globally.
BCG’s “The Most Innovative Companies” ranking is based on an algorithm that takes four factors into account. The first three of them based on a survey of 2,500 global innovation executives: global “mindshare,” industry peer view, industry disruption and 3-year total shareholder return. Driving Philips’ innovation is its significant investment into research and development in the US on everything from artificial intelligence to machine learning and virtual reality, to improve healthcare.