Boston Scientific SWOT Analysis, Competitors & USP
Published by MBA Skool Team, Last Updated: April 12, 2020
SWOT analysis of Boston Scientific analyses the brand by its strengths, weaknesses, opportunities & threats. In Boston Scientific SWOT Analysis, the strengths and weaknesses are the internal factors whereas opportunities and threats are the external factors.
SWOT Analysis is a proven management framework which enables a brand like Boston Scientific to benchmark its business & performance as compared to the competitors. Boston Scientific is one of the leading brands in the pharma and healthcare sector.
The article below lists the Boston Scientific SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Boston Scientific SWOT Analysis:
For Boston Scientific, SWOT analysis can help the brand focus on building upon its strengths and opportunities while addressing its weaknesses as well as threats to improve its market position.
Boston Scientific Strengths
The strengths of Boston Scientific looks at the key aspects of its business which gives it competitive advantage in the market. Some important factors in a brand's strengths include its financial position, experienced workforce, product uniqueness & intangible assets like brand value. Below are the Strengths in the SWOT Analysis of Boston Scientific :
1. Well known for the development of the Taxus Stent, a drug-eluting stent which is used to open clogged arteries 2. Strong top management reflected by increased share prices when the new CEO stepped in 3. Acquisition of Guidant gives the company immense depth in heart devices market 4. Product marketing done in 100 countries through its direct sales force – which is very active in 40 countries
5.Strong brand equity with loyal customers
Boston Scientific Weaknesses
The weaknesses of a brand are certain aspects of its business which are it can improve to increase its position further. Certain weaknesses can be defined as attributes which the company is lacking or in which the competitors are better. Here are the weaknesses in the Boston Scientific SWOT Analysis:
1.Competitive nature of the industry with immense focus on technological advancements and research capabilities 2.Negative publicity due to involvement in controversy regarding illegal payment to US Army doctor to use their devices
Boston Scientific Opportunities
The opportunities for any brand can include areas of improvement to increase its business. A brand's opportunities can lie in geographic expansion, product improvements, better communication etc. Following are the opportunities in Boston Scientific SWOT Analysis:
1.Acquisitions of competitors similar to Guidant in 2006 2.Spinoffs from parent company like Navilyst Medical 3. Geographical expansion to growth markets
Boston Scientific Threats
The threats for any business can be factors which can negatively impact its business. Some factors like increased competitor activity, changing government policies, alternate products or services etc. can be threats. The threats in the SWOT Analysis of Boston Scientific are as mentioned:
1.FDA rulings and government interventions in healthcare industry 2.Acorss product portfolio, company has to deal with multiple competitors 3.Loss of investor confidence resulting in lesser market capitalization
Boston Scientific Competitors
There are several brands in the market which are competing for the same set of customers. Below are the top 3 competitors of Boston Scientific:
A team with the passion, drive, and confidence to believe our innovative medical solutions can transform lives and improve the health of patients around the world.
Boston Scientific STP
Global developer and marketer of interventional medical devices
Devices used in cardiac rhythm management, cardiac and vascular surgery, electrophysiology, tumor reduction, cancer treatments, hearing reduction; and pain management
We are a leading innovator of medical solutions that improve the health of patients around the world.
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