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Sectra AB SWOT & PESTLE Analysis

ID : 521033053| Sep 2021| 18 pages

COMPANY PROFILE -Sectra AB

Business Sector :Healthcare IT and Secured Communications

Operating Geography :Sweden, Europe, Global

About Sectra AB :

Sectra AB is a Swedish firm that specialises in medical technology and secure communication solutions. It is headquartered in Linköping, Sweden. Sectra was established in 1978 by a group of Linköping University researchers. RAKEL, a communication system used by Swedish organisations and institutions that provide critical public services such as emergency services and public utility providers like power companies, is one of the company's most notable products. The company has two business divisions: Secure Communication Systems and Medical Systems. The Secure Communication Systems business area, which is managed by the Company's subsidiary Sectra Communications AB, provides security solutions to customers who handle sensitive information, such as government agencies, defence departments, and key societal functions across Europe. The Medical Systems business sector, which operates through the company Sectra Imtec AB, provides public and private healthcare providers with information technology (IT) solutions, software licences, service and upgrade agreements, online services, advisory services, and training courses. In May 2021, Sectra's contract with the Dutch ministries was renewed. The contract permits the Dutch ministries to continue to purchase Sectra’s secure communication as a service.

Sectra's Unique Selling Point or USP lies in helping address the world's demands for more efficient healthcare and secure communication by providing products and services in medical IT and secure communications. Sectra's vision statement reads, "Driven by knowledge and passion, our vision is to contribute to a healthier and safer society. Sectra successfully develops and sells cutting-edge solutions in the expanding niche segments of medical IT and cybersecurity—a combination that makes us unique".

Sectra AB Revenue :


SEK 1,632 million - FY ending 31st April 2021 (y-o-y growth -1.7%)
SEK 1,661 million - FY ending 31st April 2020 (y-o-y growth 17.52%)
SEK 1,414 million - FY ending 31st April 2019

Competitive Analysis of Sectra AB

SWOT
PESTLE
The SWOT analysis for Sectra AB is presented below in a matrix followed by the detailed analysis report:
StrengthsWeaknesses
1. Strong established brand with multinational reach
2. Attaining preferred supplier contracts from many healthcare providers consistently
3. Trusted by government and NATO institutions for cyber security solutions
4. Strong financial performance and growth despite the pandemic
5. Ranked highest in terms of customer satisfaction in the industry
1. Weak presence in the Asian market
OpportunitiesThreats
1. Increased spending in animal healthcare is driving veterinary imaging market
2. Increased cyber-attacks in healthcare prompt cyber security upgrades
3. Growing role of technology for higher efficiency medical care and education
4. Quantum computing poses threat to encryption prompting further research in security solution
1. Facing high competition from new entrants in digital pathology segment
2. Entry into virtual private network (VPN) market would invite competition with the dominant workplace VPN provider
SWOT & PESTLE (combined)
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Detailed SWOT Analysis of Sectra AB

Strength

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Weakness

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Opportunity

1. Increased spending in animal healthcare is driving veterinary imaging market: The increasing number of household pets and dairy animals in developed economies has given rise to animal health and pet insurances. Animal health spending has increased demand for veterinary imaging, mainly Magnetic Resonance Imaging (MRI), to monitor the physiological structure of body tissue in animals. Other devices include X-ray radiology and CT scan devices. North America and Europe have been predicted to account for 60% of global share in pet ownership by the end of 2030. In the US, 44% of houses own dogs, and 35% houses own cats as of 2020. These numbers are forecasted to increase further driving demand in healthcare. In addition, technical research and development in veterinary imaging solutions by enterprise imaging companies has increased. The market for veterinary imaging devices is growing at a CAGR of 6.4% and is expected to reach $2.72 billion by 2027.

2. Increased cyber-attacks in healthcare prompt cyber security upgrades: Hospitals are a common target for cyber-attacks. The influx of patients due to the pandemic has revealed the poor state of IT infrastructure in hospitals. NHS hospitals in UK were attacked with 140 thousand phishing emails in 2019. This was done to steal confidential data which led to the compromise of about 100 hospital mailboxes. In June 2020, a ransomware attack carried out at a Colorado hospital led to loss of patient data collected over several years. A survey by leading platform security software firm Irdeto, reported in April 2021, about 80% of hospitals in the US have had at least one cyberattack, and 88% of hospitals' management believes their hospital is unprepared for such attacks. It has increased the need to upgrade healthcare infrastructure for patient safety, integrity, and efficiency of the healthcare system. Sectra's Medical IT expertise can serve as an advantage for the company and help improve the healthcare system better.

The remaining section under "Opportunity" is available only in the 'Complete Report' on purchase.

Threat

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

Major Competitors :

  • Hologic
  • Carestream
  • Funkwerk
  • Intelerad
  • INFINITT Healthcare
  • Canon Medical Systems
SWOT & PESTLE (combined)
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TABLE OF CONTENTS
DELIVERY AND FORMAT
WHY CHOOSE US?

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Check Out Analysis of Other Relevant Companies

References used in Sectra AB SWOT & PESTLE Analysis Report

1. Sectra wins enterprise imaging contract at Swiss healthcare provider - https://medical.sectra.com/news-press-releases/news-item/8593AC6801B0589A/

2. Why Sectra | Sectra Medical - https://medical.sectra.com/about-sectra/why-sectra/?q=/about-sectra/

3.ANNUAL REPORT AND SUSTAINABILITY REPORT 2019/2020 - https://sectraprodstorage01.blob.core.windows.net/investor-uploads/sites/2/2020/07/20200630-sectra-har-19-20-eng-web.pdf

4. Sectra’s year-end report 2020/2021 - https://sectraprodstorage01.blob.core.windows.net/investor-uploads/sites/2/2021/06/sectra-year-end-report-20202021.pdf

5. Philips boosts digital pathology with enhanced informatics -https://www.globenewswire.com/news-release/2020/12/04/2139896/0/en/Philips-boosts-digital-pathology-with-enhanced-informatics-to-advance-precision-diagnosis-in-oncology.html

The detailed complete set of references are available on request in the 'Complete report' on purchase.

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In-text: (SWOT & PESTLE.com, 2021)

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Sectra AB SWOT and PESTLE analysis has been conducted by Rakesh Shewale and reviewed by senior analysts from Barakaat Consulting.

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