28 Jul 2021
Posted in Medical Devices
Boston Scientific’s neuromodulation segment will need to perform strongly in Q3 to recoup 2020 losses
Following the recent release of Boston Scientific’s Q2 financial information;
Dominic Tong, Senior Medical Device Analyst at GlobalData, a leading data and analytics company, offers his view:
“Boston Scientific reported a Q2 2021 growth of 101.5% in its neuromodulation segment to a revenue of $247m compared to Q2 2020’s revenue of $122m, though this figure must be kept in the context of the COVID-19 pandemic. Q2 2020 saw widespread delays of elective procedures across the globe, including neuromodulation procedures, in the face of the first wave of COVID-19.
“However, the Q2 2021 neuromodulation revenue still represents a 21% increase compared to Boston Scientific’s Q2 2019 neuromodulation revenue. Additionally, its Q2 neuromodulation revenue was a 24% increase compared to Q1 2021. This growth was expected, though still reassuring, as the delayed procedures from 2020 are being completed now with vaccine rates increasing and COVID-19 cases declining.
“Boston Scientific will still need strong Q3 and Q4 performances in the neuromodulation segment to recoup its losses in 2020. New, more transmissible COVID-19 variants such as Delta, along with lagging vaccination rates in some countries, may hinder that recovery if hospital systems are again overwhelmed by an outbreak of cases.”