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Boehringer Ingelheim SWOT & PESTLE Analysis

ID : 52517553| Mar 2019| 15 pages

COMPANY PROFILE -Boehringer Ingelheim

Business Sector :Pharmaceuticals

Operating Geography :Germany, Europe, Global

About Boehringer Ingelheim :

Boehringer Ingelheim is a family-owned German company established by Albert Boehringer in 1885 and operates in the fields of human pharmaceuticals, animal health and biopharmaceuticals. It has over 50,000 employees as of January 2019 and is one of the top 20 pharmaceutical companies in the world. The primary focus areas of the company are cardiovascular disease, respiratory diseases, diseases of the central nervous system, metabolic diseases, virological diseases and oncology. The company integrates research, pre-clinical and early clinical development, translational medicine and external partnering functions in order to quickly deliver breakthrough medicines to patients.

Boehringer Ingelheim Revenue :


EUR 21,192 million – FY 2017 (YoY growth 15.4%)
EUR 18,364 million – FY 2016

Competitive Analysis of Boehringer Ingelheim

SWOT
PESTLE
The SWOT analysis of Boehringer Ingelheim is presented below:
Strengths
Weaknesses
1. High focus on innovation
2. Strong performance of Animal Health Business unit
3. Digital transformation and innovation initiatives
4. Employee development programs
1. Overall weak financial performance
Opportunities
Threats
1. Leveraging Artificial intelligence
2. Booming veterinary services market
3. Internet of Medical Things (IoMT)
1. Threat from financial risks
2. Patents, legal disputes and liabilities
3. High competition in the pharmaceutical industry
SWOT & PESTLE (combined)
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Detailed SWOT Analysis of Boehringer Ingelheim

 

Strength

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Weakness

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Opportunity

1. Leveraging artificial intelligence: Using AI, pharma companies can drastically increase the pace of the drug discovery process and make it cheaper. Cognitive trials would be over in seconds rather than decades. Shorter testing time would save a lot of money, which would result in reduction in drug prices. It might even eliminate the controversial practices of animal and human experimentation. Boehringer is using AI to reduce drug development cost and enable faster go/no go decisions on drugs in the pipeline. The company aims to leverage AI to transform itself from a pharma company to a holistic healthcare company. Another AI project that the company is working on is the Angels Initiative. This project is a joint venture with the European Stroke Organisation which gathers data from hospitals and finds out patterns in stoke care. This system would quickly diagnose that the patient has suffered a stroke. This would save a lot of time as simple tests can then be done in the ambulance itself and a stroke team would already be ready by the time the ambulance arrives at the hospital.

2. Booming veterinary services market: The veterinary services market is on the rise across the world because of growing pet population, increasing penetration of pet insurance and social media-driven awareness of animal welfare needs. Livestock population is also expected to rise till 2021, especially in China, India and Brazil, due to increasing population and rising income levels. North America is currently the largest market for veterinary services, followed by West Europe and Asia-Pacific. However, by 2021 Asia-Pacific is expected to be the largest market. In North America, USA is the largest market. Australia and UK are close behind USA in terms of human per capita spend on veterinary services. China has seen a rise in urban pet ownership which has increased demand for veterinary services. The increasing demand for veterinary services requires increased focus on animal health initiatives. Boehringer Ingelheim has the second largest animal health business unit in the world and is making significant efforts in this area, one such effort being the deal with Sanofi that gave it access to top selling veterinary drugs. Boehringer’s leadership in livestock segment perfectly complemented Merial’s leadership in companion animals like cats and dogs. Net sales in global animal health market are expected to double to EUR 53 billion by 2030, which reflects the growing world population that is expected to reach 9 billion by 2050. Tis would significantly increase the demand for meat.

3. Internet of Medical Things (IoMT): Internet of Things in the healthcare industry, also called Internet of Medical Things, can help healthcare providers in early identification of medical issues by providing them with timely data. According to industry research it is predicted that IoMT would be a $136.8 billion market by 2021. This growth is being driven by the proliferation of Near Field Communication (NFC) systems and RFID systems in most consumer mobile devices, as well as high speed internet availability. Boehringer Ingelheim has partnered with Qualcomm Life, a subsidiary of Qualcomm, to develop a connectivity solution for the company’s RESPIMAT inhaler. This is expected to improve COPD treatment outcomes by tracking puffs from the inhaler and sharing the data with healthcare providers and the people who are taking RESPIMAT medicines.

Threat

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Major Competitors :

Key Business Segments / Diversification :

Boehringer Ingelheim
Human Pharmaceuticals Animal Health
Biopharmaceuticals
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TABLE OF CONTENTS
DELIVERY AND FORMAT
WHY CHOOSE US?
References used in Boehringer Ingelheim Analysis Report

1. Company Website- https://www.boehringer-ingelheim.com/who-we-are/our-company

2. Annual report 2017- http://annualreport.boehringer-ingelheim.com/fileadmin/user_upload/BI_Annual_Report_2017_EN.pdf

3. Boehringer Ingelheim and Global Stem Cell Technology are prepared to bring groundbreaking innovation to equine market- https://www.boehringer-ingelheim.com/press-release/boehringer-ingelheim-and-gst-prepared-bring-innovation-equine-market

4. Top 10 Innovation Trends In Pharmaceutical Industry-https://www.giminstitute.org/index.php/2018/08/21/trends-pharmaceutical/

5. Artificial Intelligence Is The Real Thing For Pharma And Medtech- https://seekingalpha.com/article/4083347-artificial-intelligence-real-thing-pharma-medtech

Copyrights and Disclaimer

Boehringer Ingelheim SWOT and PESTLE analysis has been conducted by Nipunn V and reviewed by senior analysts from Barakaat Consulting.

Copyright of Boehringer Ingelheim SWOT and PESTLE Analysis is the property of Barakaat Consulting. Please refer to the Terms and Conditions and Disclaimer for usage guidelines.

Boehringer Ingelheim SWOT & PESTLE Analysis
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