Healthcare Dubbed the Most Innovative Sector in 2020

SourceAl Bawaba

The private sector is seen as taking a leadership role in driving innovation in healthcare, with 83% of business executives saying that companies have taken a leadership role in driving innovation due to the pandemic. This is five points higher than business executives’ perception of the government’s role in driving innovation in the period, said the GE study titled “Pride and Protectionism: A Quest for Innovation Agency.” This year’s study is reflective of business executives’ belief that healthcare innovation is required to enable the innovation of other industries. According to respondents, the healthcare industry has risen to the challenge of Covid-19 and the business community has gained a deeper appreciation for the industry’s role in the economy overall. The pandemic solidified business leaders’ belief that innovation is both vital to their future and under threat. They see innovation having a crucial role in addressing the major challenges that the world now faces; however, they also feel that pandemic poses threats to this new innovation imperative.

Progress has slowed in some industries and markets since the onset of Covid-19 as a result. The 2020 report reveals a paradox emerging with regards to business executives’ view on cross-border collaboration and protectionism. The report shows that more...