Medi-Tech

Words: 1353
Pages: 6

While Boston Scientific is now a multi-billion dollar company, its origins as Medi-Tech are humble. Its specialty can be very broadly described as “insertable and interventional medical devices” which encompasses devices from catheters, stents of many kinds, and pacemakers, but not excluding a considerable diversity of other medical devices. Its products are widely successful for their non-invasiveness, which makes an astounding difference in aide of surgeries. Simply for this fact, Medi-Tech’s first widely successful device was their catheter that featured a steerability that was previously not found in competitors St. Jude, a division of Medtronic devoted to catheters, and other smaller catheter-focused companies. The two founders, John Abele …show more content…
is primarily in the “Medical Devices” Industry. Its main industry competitors are Medtronic and St. Jude Medical. Rivalry is a big component of this industry. The main players in the Medical Devices Industry have great distribution capabilities. Medtronic has 260 locations in 155 countries worldwide. The next best rival concerning distribution is St. Jude Medical, with bases in more than 100 countries worldwide. Boston Scientific Inc. comes in at the bottom with sites in 40 countries. A company looking to come into this industry would have no chance at beating out these globally powerful competitors, but this difficulty to compete globally is an attractive industry quality to the incumbent firms. Another comparative aspect of competition is each company’s market share. Medtronic has a significant market share over all segments of the Medical Devices Industry. For example, in the “Cardiac Rhythm Management” Segment, Medtronic holds a massive market share of 53.23% while St. Jude Medical and Boston Scientific Inc. come in at 27.02% and 19.76%, respectively. St. Jude Medical and Boston Scientific Inc. are trying to inch their market shares closer to Medtronic, so it would be difficult for a new firm to wedge their way into a competitive market share. Stock prices reflect what buyers and sellers believe the value of the company is, so stock prices echo consumers’ perceptions of their future success. Medtronic leads the trio again with shares selling for …show more content…
is in one of the most regulated industries in the world. Major regulatory bodies for the medical device industry include the Food and Drug Administration (FDA) and World Health Organization (WHO). Other forms of regulation are country specific, meaning that entering new markets in different countries can almost certainly entail abiding by that country’s government-enforced medical device quality control, safety, performance, and product standards. There is an elaborate pyramid of regulations that a medical device establishment must navigate before selling any domestic or international products. This pyramid is applicable to Boston Scientific. At the top of the pyramid and the beginning of the regulatory process, all Boston Scientific manufacturers and distributors are required to annually register with the FDA and be registered entities before manufacturing and distribution begin. The middle tier of the pyramid regulates individual devices, this step is the most expensive and time consuming. To regulate and certify individual classes of medical devices, specific devices are required to be clinically tested and approved as well as follow strict quality control guidelines.approved by FDA? The final tier of the pyramid is made of the distribution processes. Distributing domestically requires certification by the FDA and selling products internationally usually requires certification from the FDA and the receiving country’s medical device regulatory body.