Boston Scientific Corporation

Boston Scientific Corporation Overview

Company Headquarters: Massachusetts, US

Founded: 1979

Workforce: ~36,000

Company Working: Boston Scientific Corporation is a worldwide developer, manufacturer, and marketer of medical devices used in a range of interventional medical specialties. The company collaborates with healthcare professionals to develop a broad portfolio of meaningful innovations that improve outcomes, reduce costs, and increase efficiencies. Its product portfolio is majorly divided into endoscopy, interventional cardiology, neuromodulation, peripheral interventions, rhythm management, and urology & pelvic health. In addition, Boston Scientific serves hospitals, clinics, outpatient facilities and medical offices across the world. Boston Scientific Corporation's manufacturing facilities are located across Malaysia, the US, and Ireland. Apart from this, it has a presence in countries like Japan, the Netherlands, France, Poland, India, China, Turkey, South Africa, and Singapore.

Strategy

Boston Scientific Corporation is focused on acquisitions and collaborations to boost its market growth. The company is also focused on increasing its product portfolio. Moreover, the company aims to invest in infrastructure in emerging markets to strengthen sales. The company is dedicated to collaborating with healthcare professionals to develop a broad portfolio of meaningful innovations that improve outcomes, reduce costs, increase efficiencies, and most importantly, help people around the world to live longer and healthier. The company emphasizes sustainable business practices, strengthening sales support, and building a competitive product portfolio & efficient supply chain.

Company Snapshot

$8,386M

Revenue

36,000

Employees

1979

Founded

Massachusetts, US

Headquarters

SWOT Analysis

Strengths

More than 13,000 products made in about a dozen factories worldwide
Products marketed in more than 115 countries
Market leader in medical supplies and devices
Global presence
Unique products
Strong customer base
Strong R&D
Strong brand name
Worldwide presence with a strong distribution network
Sustainable product pricing
Huge product portfolio
Strong strategic moves, such as acquisition of BTG PLC
Strong strategic moves
Strong global presence
Strong brand image

Weaknesses

High cost of production
Limited presence in developing countries
Imitation of products manufactured by the company
Product recalls in the recent years can affect the company’s image
High dependence on the US market
Sales of Oncozene and Embozene microsphere products for USD 90 million to Varian Medical Systems can hinder the market share
High cost of production leading to less profits
High dependency on the US market
High cost of production of certain products
Limited success outside core business
Challenges in moving to other product segments with its present culture

Opportunities

Worldwide expansion through mergers & acquisitions
Strategic tie-ups with other pharma companies to fuel its research & development activities
Developing innovative products through R&D
Expansion of the product portfolio by launching new products
Strategic tie-ups with other medical device companies to fuel its research & development activities
Expansion of the product portfolio through mergers & acquisitions
Strategic tie-ups with other medical device companies to fuel its R&D activities

Threats

Strong competition from Tier 1 companies
Intense competition in the market
Intense competition
Price wars
Government regulations
Patent disputes with Edwards Lifesciences Corporation can tarnish company’s image
Threat from decreasing operational growth
Strong competition from Tier 1 companies and new environment regulation
Availability of counterfeit products

Key Developments

Date	Approach	Development
–	Product Approval	The company received FDA approval for the Spectra WaveWriter spinal cord stimulator (SCS) system.
–	Product Approval	The company received FDA approval for the Vercise deep brain stimulation system.
–	Product Approval	The company received the CE mark for Vercise Gevia deep brain stimulation system.
–	Product Approval	The company received FDA approval for its Precision Montage MRI Spinal Cord Stimulator System.
–	Product Approval	The company received CE mark for Vercise Primary Cell deep brain stimulation.
–	Product Launch	The company launched the Precision Novi spinal cord stimulator system in Europe.
August 2019	Acquisition	Boston Scientific Corporation acquired BTG PLC which develops products used in minimally-invasive procedures targeting cancer and vascular diseases, as well as specialty pharmaceuticals
June 2021	Acquisition	Boston Scientific Corporation (US) acquired the remaining shares of Farapulse, Inc.(US) The acquisition will complement the existing electrophysiology portfolio of Boston Scientific to include the FARAPULSE Pulsed Field Ablation (PFA) System – a non-thermal ablation system for the treatment of atrial fibrillation (AF) and other cardiac arrhythmias.
September 2020	Product Launch	Boston Scientific Corporation announced the launch of “WaveWriter Alpha”. This product contains four MRI conditionali, Bluetooth-enabled implantable pulse generators (IPGs), proposals expanded personalization based on patient needs, including non-rechargeable and rechargeable alternate, and access to waveforms that can protection many areas of pain.

Product Offering

Boston Scientific Corporation
- Embolization
- Cancer Therapies
- Hemorrhoid treatment devices
- Tumor Ablation
- Peripheral Nerve Stimulator
- Sentinel Node Biopsy Market

Financial Performance

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