Devicemakers didn’t hold back when it came to R&D in 2015. The industry’s top companies spent a total of $11.670 billion developing new devices and diagnostics last year, an 8% increase from 2014.
For some companies, the commitment to R&D came amid struggle. Johnson & Johnson ($JNJ), facing the decline of its medical device business, concentrated on product development and high-growth areas to power to a turnaround.
Boston Scientific ($BSX) also turned to R&D to revive itself after a few disappointing quarters. At least for now, it seems to be succeeding: A majority of the company’s units posted double-digit growth in the first quarter, giving the Massachusetts device giant extra ammo for dealmaking and product development.