Medtronic's evolution from niche market competitor to broad medical supplier

Medtronic

The question of whether Medtronic is a nicher depends upon perspective. When a single focus is upon each single product, they can be said to appeal to niche markets. The external and implantable pacemakers and related products for example would appeal to the market of heart sufferers and their caregivers. As the company expanded, they were able to develop other products for both heart conditions and other ailments of the body. Each product individually appeals to the niche for the specific condition that they manage or cure.

When the perspective is widened to include all the products that Medtronic offers, the company can still be viewed to some extent as a nicher. The products appeal to patients and medical professionals who are concerned with specific conditions. However, this point can be debated with the counter view that the wider market means that it is no longer a niche. Indeed, the many therapies offered include a wide range of illnesses, which might imply that the company's products now appeal to a general medical market rather than just a niche.

The question can also be considered from a historical perspective. The company's first niche product was its external pacemaker. Much lighter and smaller than the existing model, it appealed particularly to the pre-adult heart patient population. With the development of its implantable model, the company was a nicher in the true sense of the world, appealing to the heart patient market and the medical professionals working with heart-related conditions.