2. Royal Philips
R&D Spending: $2,108,949,600
Percentage of revenue: 9.7%
2020 overall ranking: 3
Philips launched a number of imaging and cardiac systems in 2019.
In February 2019, the company debuted its Epiq Elite ultrasound system. The device features an xMatrix linear transducer that produces 3D vascular images to allow clinicians to see into a vessel and evaluate plaque spatial location and composition and view 3D flow data for quickly assessing stenotic conditions.
Philips in August 2019 launched its HeartStart Intrepid monitor/defibrillator with IntelliSpace Connect in Europe. HeartStart Intrepid allows caregivers to evaluate and treat patients in medical emergencies. It is lightweight, portable and rugged and can be used in emergency medical service, emergency departments and intra-hospital transport. It features vital patient monitoring parameters and diagnostic measurements to help clinicians decide the best care plan for each patient.In October, Philips received FDA approval for its Stellarex drug-coated balloons for the treatment of upper leg artery blockages. The approval covered de novo and restenotic lesions in upper leg arteries.
Philips then launched its EarlyVue VS30 monitor in November. The monitor is designed to help clinicians catch problems with hospital patients early and prioritize treatments. It captures patient data and securely transmits it into a hospital’s electronic medical records to reduce errors and support gap-free patient records and improve patient outcomes.