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Medtronic SWOT and PESTLE Analysis

ID : 52438753| Aug 2018| 15 pages

COMPANY PROFILE -Medtronic

Business Sector :Medical Device Manufacturing

Operating Geography :Ireland, Europe, Global

About Medtronic :

Previously known as Medtronic Inc it is one of the largest medical device manufacturing company, headquartered in Dublin, Ireland. The company is involved in development, manufacturing and marketing of a wide range of medical devices, therapies and services used in the treatment heart disease, spinal conditions, neurological disorders, vascular disease and diabetes and similar chronic diseases. The company products include aortic and peripheral vascular products, cardiac rhythm and heart failure products, coronary and structural heart products, advanced surgical technologies and general surgical products, medical supplies, respiratory and monitoring solutions, and venous solutions, diabetes services and solutions, intensive insulin management solutions, non-invasive diabetes therapies, Neuromodulation and neurovascular devices, orthopedic and spine products and surgical technologies. As of early 2018, Medtronic has over 88,000 employees with the company operations in more than 480 locations.

Medtronic USP or unique selling proposition lies in being amongst the world's largest medical equipment manufacturing companies with almost seven decades of operations to deliver innovative medical technology solutions. Medtronic is also the world leader in spinal and musculoskeletal therapies. The mission statement for Medtronic reads “Contributing to human welfare by application of biomedical engineering to alleviate pain, restore health and extend life and direct our growth in areas of biomedical engineering. To strive without reserve for the greatest possible reliability and quality in our products and make a fair profit recognizing the personal worth of employees and maintain good citizenship as a company.”

Medtronic Revenue :


US $29.95 billion - FY ending last Friday of April – April 27, 2018 (yoy growth, approximately 0%)
US $29.71 billion - FY ending last Friday of April – April 28, 2017 (yoy growth, approximately 3.1%)
US $28.83 billion - FY ending last Friday of April – April 29, 2016

Ownership / Major shareholders :

The top shareholders of Medtronic plc as of July 2018 areas follows:
• The Vanguard Group, Inc. - 7.74%
• Wellington Management Co. LLP - 5.69%
• BlackRock Fund Advisors - 4.61%
• Massachusetts Financial Services - 4.42%
• SSgA Funds Management, Inc. - 3.96%

Competitive Analysis of Medtronic

SWOT
PESTLE
The SWOT Analysis for Medtronic is presented below:
Strengths
Weaknesses
1. Strong Financial Performance and Growth Strategy
2. Strong global presence
3. Strong product portfolio
4. Strong innovation and creativity platform
5. Skilled workforce
1. Dependence on US markets
2. Low operating margin.
Opportunities
Threats
1.Evolving connected healthcare
2. Acquisition based advantage
3. Opportunities in Growing diabetes market
1. Strict Regulations
2. Impact of changing trade regulations
3. Exposed to patent litigations
4. Exposed to Investigation from Government
5. High competition
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Detailed SWOT Analysis of Medtronic

Strength

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Weakness

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Opportunity

1. Opportunities in growing diabetes market: Diabetes group is expected to have an increasing demand in the future, which is likely to benefit Medtronic’s future revenue. The market of diabetes device and equipment is projected to be 27.4 billion by BY2020, according to GlobalData research. Therefore, the diabetes group revenue can be a major driver in the future although the diabetes group is a relative small segment in FY2016.As per Business wire there is a huge opportunity to expand its Diabetes Group, as the diabetes care market is expected to grow at a CAGR of 5.3% from 2017 to 2022.The company has come up with a new technology to disrupt the market i.e., new 670G. This technology is the first which combines an insulin pump and a CGM in one device. Unlike other competitors where the pumps are normally an open loop system the CGM is a closed loop hybrid system which gives Medtronic a competitive advantage in this growing market. However companies like Abott, Insulet and other similar companies are ready to enter the market and give a tough competition in this market which is providing a great potential to these companies.

2. Scope to enter new markets: Medtronic are following an expansion strategy by creating new stores in different countries and by entering new markets through strategic acquisitions. FY 2016 saw some major acquisitions and partnerships like the acquisition of Twelve, Inc. which is a privately held medical device company. This acquisition was intended in improvement in development of a transcatheter mitral valve replacement device. Similarly, in 2015 the company had acquired Medina Medical care which is focused on commercializing treatments for vascular abnormalities of the brain, including cerebral aneurysms. Recently, in 2018 the company also ventured into eye care market by acquiring a company Vision care which is involved in imaging and visualization tech for minimally invasive surgery, for $75 million.

3. Connected healthcare evolution: With rising growth of health care industry and changing consumer purchasing needs and behavior different retailers are opting for highly technological offerings. Medtronic have been involved extensively in new product development and innovation is one of their primary strategic priorities in their growth strategy. Medtronic has been actively involved in promoting smart health care system and be a part of connected health care evolution. The Global Connected Healthcare Market is expected to reach USD 105.33 billion by the end of the forecasted period and is expected to grow at a CAGR of 30.2% as per an report published by marketresearchfuture. Companies are coming with systems which can help patients monitor the insulin level, glucose levels as well as services to monitor patients following acute care admissions and surgical procedures. As per the report by Deloitte Telecommunications and Telemedia report the use of smart phones will be increasing among baby boomers so in the coming future there will be an extensive use of apps-based services when it comes to healthcare. With time the healthcare shifts from an outcome-based patient centric model. So, use of advanced technology in health care will prove to be a game changer for companies like Medtronic.

Threat

This section is available only in the 'Complete Report' on purchase.

Major Competitors :

  • Johnson and Johnson
  • Synthes
  • NeuroMetrix
  • Omnipod
  • Petco
  • Pacesetter
  • Sorin Group
  • St. Jude Medical Inc.
  • Advanced Bionics
  • Cardiac Pacemakers Inc.
  • Abbot
  • Navistar
  • Allscripts
  • Pfizer
  • Boston Scientific
  • Siemens
  • Roche

Major Brands :

  • RF Surgical Systems
  • Given Imaging
  • United States Surgical (USSC)
  • Covidien Ltd.

Key Business Segments / Diversification :

Medtronic
Medical Devices Medical Services (Device related)
Independent Health solutions

Recent Acquisition / Mergers / Alliance / Joint Ventures / Divestitures :

Name
Business Segment
Year
Type
Objective/Synergy Achieved
Visionsense CorpHealth care systems2018Acquisition under processIt was a $75 million deal. Visionsense Corp. develops 3D-HD visualization systems for minimally invasive surgeries. This can give a boost to Medtronic's invasive neurosurgery, plastic and reconstructive surgery, tumour margins visualization research, and general surgery solutions.
Cardinal HealthHealth care services2017DivestitureIt had sold its Patient Care, Deep Vein Thrombosis and Nutritional insufficiency business to Cardinal Health for $6.1 billion.
Source: Company website and other reliable sources. The detailed table is available in the Complete Report.
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TABLE OF CONTENTS
DELIVERY AND FORMAT
WHY CHOOSE US?
References used in Medtronic Analysis Report

1. Top global Innovators - https://www.medtronic.com/us-en/about/news/top-global-innovators-2017.html
2. Medtronics - https://pdfs.semanticscholar.org/presentation/5822/44b4ad7c0cce106918a49ee876046507145d.pdf
3. Sustainibility Report - http://www.medtronic.com/content/dam/medtronic-com/us-en/corporate/documents/17267.MED.Sustainability.Report_4_FINAL%20NOV%208.pdf
4. Medtronic, Abbot devices stir competition in diabetes monitoring market - https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/44244640

Copyrights and Disclaimer

Medtronics SWOT and PESTLE analysis has been conducted and reviewed by Senior Analysts from Barakaat Consulting.

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

Medtronic SWOT and PESTLE Analysis
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