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Boston Scientific Corporation  (BSX)
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Boston Scientific's

Competitiveness


 

BSX Sales vs. its Competitors Q1 2022



Comparing the results to its competitors, Boston Scientific reported Total Revenue increase in the 1 quarter 2022 by 9.96 % year on year.
The sales growth was above Boston Scientific's competitors average revenue growth of 7.17 %, recorded in the same quarter.

List of BSX Competitors

With net margin of 3.64 % company reported lower profitability than its competitors.

More on BSX Margin Comparisons



Revenue Growth Comparisons




Net Income Comparison


Boston Scientific Corporation Net Income in 1 quarter 2022 declined year on year by -67.74 %, faster than the decline experianced by the competitors of -3.48 %.

<<  More on BSX Income Comparisons


Boston Scientific's Comment on Competitors and Industry Peers


We encounter significant competition across our product lines and in each market in which we sell our products from various companies, some of which may have greater financial and marketing resources than we do. Our primary competitors include Abbott Laboratories; Medtronic, Inc.; St. Jude Medical, Inc.; and Cook Medical; as well as a wide range of medical device companies that sell a single or limited number of competitive products or participate in only a specific market segment. We also face competition from non-medical device companies, such as pharmaceutical companies, which may offer alternative therapies for disease states intended to be treated using our products.

We believe that our products and solutions compete primarily on their ability to deliver both clinical and economic outcomes for our customers; while also continuing to safely and effectively perform diagnostic and therapeutic procedures in a less-invasive manner, as well as to provide ease of use, comparative effectiveness, reliability and physician familiarity. In the current environment of managed care, economically-motivated buyers, consolidation among healthcare providers, increased competition and declining reimbursement rates, we have been increasingly required to compete on the basis of price, value, reliability and efficiency. We believe the current global economic conditions and healthcare reform measures could continue to put additional competitive pressure on us, including on our average selling prices, overall procedure rates and market sizes. We recognize that our continued competitive success will depend upon our ability to offer products and solutions that offer differentiated clinical and economic outcomes; create or acquire innovative, scientifically advanced technology; apply our technology and solutions cost-effectively and with superior quality across product lines and markets; develop or acquire proprietary products and solutions; attract and retain skilled personnel; obtain patent or other protection for our products; obtain required regulatory and reimbursement approvals; continually enhance our quality systems; manufacture and successfully market our products and solutions either directly or through outside parties; and supply sufficient inventory to meet customer demand.





  

Overall company Market Share Q1 2022

With revenue growth of 9.96 % within Overall company, Boston Scientific Corporation achieved improvement in market share, within Overall company to approximate 5.07 %.
<<  More on BSX Market Share.
 
*Market share is calculated based on total revenue.


BSX's vs. Competition, Data

(Revenue and Income for Trailing 12 Months, in Millions of $, except Employees)


COMPANY NAME MARKET CAP
(in millions of $)
REVENUES
(in millions of $)
INCOME
(in millions of $)
EMPLOYEES
Boston Scientific Corporation BSX 53,609.17 12,162.00 810.00 36,000
Johnson and Johnson JNJ 473,330 94,880.00 19,830.00 132,200
Abbott Laboratories ABT 192,946 44,514.00 7,725.00 107,000
Medtronic Plc MDT 121,247 31,686.00 5,062.00 90,000
Danaher Corporation DHR 187,066 30,283.00 6,456.00 60,000
Varian Medical Systems Inc VAR 16,326 3,118.10 277.30 10,372
Stryker Corp SYK 76,146 17,430.00 2,015.00 43,000
Edwards Lifesciences Corporation EW 60,441 5,357.10 1,538.50 14,650
SUBTOTAL 1,181,111.17 239,430.20 43,713.80 493,222
       
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