Penumbra Has Yet to Dig a Moat, but We See Potential There

Despite the challenges for a smaller, emerging competitor to break into therapeutic markets that are dominated by larger competitors, Penumbra has demonstrated that it can be done. By focusing on creating innovative devices for use in endovascular systems to address blood clots and aneurysms, over the last 20 years Penumbra has carved out a small but growing presence and competes directly with Stryker, Medtronic, and Terumo globally.