Boston Scientific SWOT and PESTLE Analysis

Strength

1. Diversified product portfolio: One major strength of Boston Scientific Corporation is its diverse portfolio of products. These products are divided in three major segments like medsurg (31% revenue), Rhythm and Neuro (31% revenue), Cardiovascular (38% revenue) as per 2018 figures. A diverse portfolio catering different segments, helps to build the brand awareness more holistically. One key benefit of diversification is that if one product portfolio performed poorly due to any external stimulus, the revenue drop can be balanced by other portfolio products but if there is heavy dependency on one product, risks are significantly incremented. The U.S healthcare giant collaborates with healthcare professionals around the globe to develop a broad portfolio of value-based innovations across their following business lines – Endoscopy, Interventional Cardiology, Neuromodulation, Peripheral Interventions, Rhythm Management, Urology and Pelvic Health. Boston Scientific is now focused on driving a portfolio shift and beefing up investments in high growth markets where they have limited presence today but are armed with unique pipeline technologies to fuel market penetration in the future. Their expansion into Multiple High Growth Adjacencies is expected to touch ~$20B in 2022.

2. Strategic acquisitions and partnerships: Boston Scientific has a successful track record of business development and takes a disciplined and balanced approach to mergers and acquisitions, investing strategically in companies that complement their existing portfolio in order to continue to enhance category leadership and growth. It is very important to meet the pace of the current innovation and disruption era and for this it is imperative for corporate level strategies to keep a vigil on competition. Fiscals 2018-2019, saw the US healthcare major drive a number of noteworthy acquisitions like Emcision, NxThera, Securus, nVision, BTG, Millipede, Augmenix, Claret Medical, Apama Medica to name a few. While the acquisition of BTG, gave the Company leadership in minimally invasive therapies targeting cancer and vascular diseases, it invested in novel therapies for men’s health with Augmenix, including the SpaceOAR™ Hydrogel System to help reduce common and debilitating side effects that men may experience after receiving prostate cancer radiotherapy. In 2020, Cryterion, Apama Medical and Nvision were also added to the BCX umbrella

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Weakness

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Opportunity

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Threat

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Political

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Economic

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Social

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Technological

1. Remote patient monitoring: With devices increasingly being used in the home, or, in the case of wearables, at all times, the relationship with end users changes dramatically. Clinicians receive intelligence to help them diagnose, monitor and prevent diseases, while patients avoid unnecessary (and expensive) clinic or hospital trips, and both patients and consumers can access valuable advice on lifestyle and diet. In 2016 the number of patients being monitored remotely grew by 44 percent and is projected to exceed 50 million by 2025, while the global market for remote patient monitoring devices is expected to reach US$1.9 billion by 2026. Manufacturers are also integrating intelligence into their devices, offering real-time insights based on patient data.

2. Blockchain and AI to set new standards for diagnostics and healthcare: Besides having a huge impact on the global financial services sector, Blockchain technology holds massive potential even for medical devices. Blockchain could be advantageous for the industry due to the preventative maintenance of devices, a strengthened manufacturing process, digitized business processes, and ‘smart contracts’, enhanced safety measures, and evidence for value-based payments. Several life sciences companies are already investing in blockchain capabilities. In an amalgamation with Philips Healthcare, Gem, a US-based startup aims to launch Gem Health26, a network for developing applications and shared infrastructure for a patient-centric approach to healthcare. Further, in order to make medical treatment more accessible, timely, and affordable, they are encapsulating the application of AI in diagnostics and healthcare. Also, the company's cloud subsidiary is supporting AI-powered solutions to tackle healthcare problems not confined only to China but also globally. China's growing market has allured many large companies to participate in this market. Chinese multinational technology giant, Baidu has propelled a doctor app where patients can get consultations and work with doctors online.

Legal

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Environmental

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