McKinsey October 16, 2024
With pandemic-related volatility subsiding, the strategies separating industry leaders from their peers are coming into focus.
Medtech value creation has been a story of haves and have-nots in recent years. Since 2019, the top value creators have outpaced the S&P 500, while the rest of the industry has struggled (Exhibit 1). Industry and capital market volatility during the COVID-19 pandemic masked the differences in performance between the top medtech companies and their peers. In the years since, investor behavior has revealed just how wide of a gap they see between these cohorts.
High performers share a success profile that distinguishes them from other companies: above-average industry growth, relentless focus on quality, rich innovation pipelines, rising profit margins, and steady levels...
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