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DePuy Synthes reported 4Q22 orthopedic sales of $2.1 billion, -0.4% compared to the fourth quarter of 2021. For the full-year 2022, the company amassed orthopedic sales of $8.6 billion, flat against the year prior.
Procedure volumes in the U.S. improved during the fourth quarter. DePuy Synthes’ 4Q22 hip replacement sales of $250 million might be a record for the company. Its knee replacement sales totaled $232 million, the highest amount since the fourth quarter of 2019. DePuy Synthes saw softer procedure volumes in the U.S. for trauma, a trend echoed by its peers in the third quarter.
The company’s VELYS digital solutions gained more traction during the quarter. Pull-through from enabling technology played a part in the company’s excellent quarter for joint replacement sales in the U.S.
DePuy Synthes received FDA 510(k) clearance to market the TELIGEN™ System, an integrated technology platform that supports minimally invasive surgical transforaminal lumbar interbody fusion (MIS-TLIF) procedures.
Despite strong orthopedic sales in the U.S., the company’s international footprint left it vulnerable to disruption in China and currency headwinds. DePuy Synthes appears to have weathered the storm and is better positioned heading into 2023.
With respect to the company’s MedTech business, Johnson & Johson CFO Joe Wolk expects largely similar conditions and performance in 2023.
“We anticipate 4% to 6% [operational growth]. There will be a little bit of carryover from some of the COVID surges that we saw in the Asia Pacific region. Other than that, a normal cadence of steady procedure recovery. The biggest challenge that hospital administrators are facing right now is really the staffing concern,” he said.
Orthopedic Sales Data
All orthopedic sales data is provided in USD millions unless otherwise noted. Orthopedic sales and growth rates are estimated on an as-reported basis.
Orthopedic Sales by Segment
| 4Q22 | 4Q21 | $ Chg | % Chg | |
|---|---|---|---|---|
| Joint Replacement | $836.2 | $812.4 | $23.9 | 2.9% |
| Knees | $354.0 | $342.5 | $11.5 | 3.4% |
| Hips | $384.5 | $378.0 | $6.6 | 1.7% |
| Extremities | $97.7 | $91.9 | $5.8 | 6.3% |
| Spine | $366.5 | $390.3 | ($23.8) | (6.1%) |
| Trauma | $631.9 | $646.5 | ($14.6) | (2.3%) |
| Sports Medicine | $150.1 | $144.9 | $5.1 | 3.5% |
| Orthobiologics | $68.1 | $70.7 | ($2.6) | (3.7%) |
| Enabling Technology | $15.7 | $9.2 | $6.5 | 70.9% |
| Other (CMF) | $78.1 | $81.5 | ($3.4) | (4.2%) |
| Total | $2,146.5 | $2,155.5 | ($8.9) | (0.4%) |
| FY22 | FY21 | $ Chg | % Chg | |
|---|---|---|---|---|
| Joint Replacement | $3,249.8 | $3,171.9 | $77.9 | 2.5% |
| Knees | $1,359.0 | $1,325.1 | $33.9 | 2.6% |
| Hips | $1,514.3 | $1,480.2 | $34.2 | 2.3% |
| Extremities | $376.5 | $366.6 | $9.9 | 2.7% |
| Spine | $1,520.9 | $1,605.7 | ($84.8) | (5.3%) |
| Trauma | $2,551.3 | $2,562.2 | ($10.9) | (0.4%) |
| Sports Medicine | $600.4 | $588.2 | $12.2 | 2.1% |
| Orthobiologics | $289.6 | $298.3 | ($8.8) | (2.9%) |
| Enabling Technology | $55.0 | $34.6 | $20.4 | 59% |
| Other (CMF) | $319.4 | $323.2 | ($3.7) | (1.2%) |
| Total | $8,586.4 | $8,584.1 | $2.3 | 0% |
Orthopedic Sales by Geography
| 4Q22 | 4Q21 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $1,384.7 | $1,305.0 | $79.8 | 6.1% |
| OUS | $761.8 | $850.5 | ($88.7) | (10.4%) |
| EMEA | $342.8 | $375.9 | ($33.1) | (8.8%) |
| Asia Pacific | $266.6 | $314.7 | ($48.1) | (15.3%) |
| Rest of World | $152.4 | $159.9 | ($7.5) | (4.7%) |
| Total | $2,146.5 | $2,155.5 | ($8.9) | (0.4%) |
| FY22 | FY21 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $5,320.8 | $5,123.1 | $197.7 | 3.9% |
| OUS | $3,265.6 | $3,461.1 | ($195.5) | (5.6%) |
| EMEA | $1,447.7 | $1,519.4 | ($71.7) | (4.7%) |
| Asia Pacific | $1,176.4 | $1,277.1 | ($100.7) | (7.9%) |
| Rest of World | $641.5 | $664.6 | ($23.1) | (3.5%) |
| Total | $8,586.4 | $8,584.1 | $2.3 | 0% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $23,706.0 | |
| Cost of Sales | $7,765.0 | 32.8% |
| Selling and Admin | $6,512.0 | 27.5% |
| R & D | $3,841.0 | 16.2% |
| Other | $2,068.0 | 8.7% |
| Net Earnings | $3,520.0 | 14.8% |
DePuy Synthes reported 4Q22 orthopedic sales of $2.1 billion, -0.4% compared to the fourth quarter of 2021. For the full-year 2022, the company amassed orthopedic sales of $8.6 billion, flat against the year prior.
Procedure volumes in the U.S. improved during the fourth quarter. DePuy Synthes’ 4Q22 hip replacement sales of $250 million...
DePuy Synthes reported 4Q22 orthopedic sales of $2.1 billion, -0.4% compared to the fourth quarter of 2021. For the full-year 2022, the company amassed orthopedic sales of $8.6 billion, flat against the year prior.
Procedure volumes in the U.S. improved during the fourth quarter. DePuy Synthes’ 4Q22 hip replacement sales of $250 million might be a record for the company. Its knee replacement sales totaled $232 million, the highest amount since the fourth quarter of 2019. DePuy Synthes saw softer procedure volumes in the U.S. for trauma, a trend echoed by its peers in the third quarter.
The company’s VELYS digital solutions gained more traction during the quarter. Pull-through from enabling technology played a part in the company’s excellent quarter for joint replacement sales in the U.S.
DePuy Synthes received FDA 510(k) clearance to market the TELIGEN™ System, an integrated technology platform that supports minimally invasive surgical transforaminal lumbar interbody fusion (MIS-TLIF) procedures.
Despite strong orthopedic sales in the U.S., the company’s international footprint left it vulnerable to disruption in China and currency headwinds. DePuy Synthes appears to have weathered the storm and is better positioned heading into 2023.
With respect to the company’s MedTech business, Johnson & Johson CFO Joe Wolk expects largely similar conditions and performance in 2023.
“We anticipate 4% to 6% [operational growth]. There will be a little bit of carryover from some of the COVID surges that we saw in the Asia Pacific region. Other than that, a normal cadence of steady procedure recovery. The biggest challenge that hospital administrators are facing right now is really the staffing concern,” he said.
Orthopedic Sales Data
All orthopedic sales data is provided in USD millions unless otherwise noted. Orthopedic sales and growth rates are estimated on an as-reported basis.
Orthopedic Sales by Segment
| 4Q22 | 4Q21 | $ Chg | % Chg | |
|---|---|---|---|---|
| Joint Replacement | $836.2 | $812.4 | $23.9 | 2.9% |
| Knees | $354.0 | $342.5 | $11.5 | 3.4% |
| Hips | $384.5 | $378.0 | $6.6 | 1.7% |
| Extremities | $97.7 | $91.9 | $5.8 | 6.3% |
| Spine | $366.5 | $390.3 | ($23.8) | (6.1%) |
| Trauma | $631.9 | $646.5 | ($14.6) | (2.3%) |
| Sports Medicine | $150.1 | $144.9 | $5.1 | 3.5% |
| Orthobiologics | $68.1 | $70.7 | ($2.6) | (3.7%) |
| Enabling Technology | $15.7 | $9.2 | $6.5 | 70.9% |
| Other (CMF) | $78.1 | $81.5 | ($3.4) | (4.2%) |
| Total | $2,146.5 | $2,155.5 | ($8.9) | (0.4%) |
| FY22 | FY21 | $ Chg | % Chg | |
|---|---|---|---|---|
| Joint Replacement | $3,249.8 | $3,171.9 | $77.9 | 2.5% |
| Knees | $1,359.0 | $1,325.1 | $33.9 | 2.6% |
| Hips | $1,514.3 | $1,480.2 | $34.2 | 2.3% |
| Extremities | $376.5 | $366.6 | $9.9 | 2.7% |
| Spine | $1,520.9 | $1,605.7 | ($84.8) | (5.3%) |
| Trauma | $2,551.3 | $2,562.2 | ($10.9) | (0.4%) |
| Sports Medicine | $600.4 | $588.2 | $12.2 | 2.1% |
| Orthobiologics | $289.6 | $298.3 | ($8.8) | (2.9%) |
| Enabling Technology | $55.0 | $34.6 | $20.4 | 59% |
| Other (CMF) | $319.4 | $323.2 | ($3.7) | (1.2%) |
| Total | $8,586.4 | $8,584.1 | $2.3 | 0% |
Orthopedic Sales by Geography
| 4Q22 | 4Q21 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $1,384.7 | $1,305.0 | $79.8 | 6.1% |
| OUS | $761.8 | $850.5 | ($88.7) | (10.4%) |
| EMEA | $342.8 | $375.9 | ($33.1) | (8.8%) |
| Asia Pacific | $266.6 | $314.7 | ($48.1) | (15.3%) |
| Rest of World | $152.4 | $159.9 | ($7.5) | (4.7%) |
| Total | $2,146.5 | $2,155.5 | ($8.9) | (0.4%) |
| FY22 | FY21 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $5,320.8 | $5,123.1 | $197.7 | 3.9% |
| OUS | $3,265.6 | $3,461.1 | ($195.5) | (5.6%) |
| EMEA | $1,447.7 | $1,519.4 | ($71.7) | (4.7%) |
| Asia Pacific | $1,176.4 | $1,277.1 | ($100.7) | (7.9%) |
| Rest of World | $641.5 | $664.6 | ($23.1) | (3.5%) |
| Total | $8,586.4 | $8,584.1 | $2.3 | 0% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $23,706.0 | |
| Cost of Sales | $7,765.0 | 32.8% |
| Selling and Admin | $6,512.0 | 27.5% |
| R & D | $3,841.0 | 16.2% |
| Other | $2,068.0 | 8.7% |
| Net Earnings | $3,520.0 | 14.8% |
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ME
Mike Evers is a Senior Market Analyst and writer with over 15 years of experience in the medical industry, spanning cardiac rhythm management, ER coding and billing, and orthopedics. He joined ORTHOWORLD in 2018, where he provides market analysis and editorial coverage.
