Boston Scientific’s cardiovascular division has shown impressive growth, outperforming expectations once again. The company reported organic growth of 27.4%, reaching $2.94 billion in Q4, driven by standout performances in electrophysiology (EP), which grew by an astounding 172%, and the Watchman product, which saw a 20% growth. Cardiovascular as a whole grew 24.6%, reinforcing the division’s upward momentum.
The cardiology sector was up 31.9%, and while growth in structural heart was slower at 10% last quarter, the company is optimistic about new developments, particularly with its EP technology. The Watchman device, a key player in Boston’s portfolio, continues to expand rapidly, with management anticipating a consistent 20% growth moving forward. The company sees significant potential from EP and Watchman, with a strong market position heading into 2025.
In the broader medical technology landscape, the company’s MedSurg division grew by 7%, led by gains in neuromodulation, urology, and endoscopy. Neuromodulation in particular is poised for stronger growth in 2025, driven by new product launches and improved commercial execution.
Looking ahead to 2025, Boston expects to see organic growth of 10-12%, with the first quarter projected to grow by 14-16%. The company anticipates revenues between $18.84 billion and $19.18 billion for the full year, with solid earnings growth in line with expectations. The growth will be supported by strong product launches, particularly in electrophysiology and neuromodulation, along with contributions from recent acquisitions.
However, the company faces some headwinds, including increased competition, particularly in the PFA (pulmonary artery) space, and the impact of the China VBP (volume-based procurement) policy. Despite these challenges, Boston is confident in its market position, with strong tailwinds such as Farapulse’s growth in the U.S. and its expanding presence in Asia.
Overall, Boston Scientific enters 2025 with a positive outlook, driven by innovation in cardiovascular and neuromodulation technologies, as well as a robust pipeline to support continued growth.
