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J&J MedTech announced 3Q25 orthopedic sales of $2.27 billion, up 3.8% compared to the third quarter of 2024. For the first nine months of the year, the company generated $6.8 billion in orthopedic sales, down 0.3% compared to the prior period.
Along with its third-quarter earnings, J&J MedTech announced its intent to separate its orthopedics business into a standalone company named DePuy Synthes within the next two years. Namal Nawana is slated to serve as Worldwide President of the entity.
The announcement overshadowed the company’s best orthopedics performance since the first quarter of 2024, with high-single-digit growth in joint replacement and a solid result in trauma.
Orthopedics remains a profitable business and a massive market opportunity, but mature segments like joint replacement and spine don’t have the growth profile that appeals to some investors.
“Ortho is a great business, but frankly one that participates in lower growth markets,” said J&J MedTech EVP of MedTech Tim Schmid. “This is all about shrinking to grow faster for MedTech. And last time I looked, [Wall Street is] not rewarding size, but rather best-in-class performance, and that’s the path that we’re on. As you already have heard, we expect the separation would increase our top line growth and margins following the completion.”
While the eventual spin-off will create significant disruption and opportunity throughout orthopedics, it will likely be some time before the pieces begin to fall. The company said it does not expect any newsworthy developments until mid-2026.
Orthopedic Sales Data
Unless otherwise noted, all orthopedic sales data is provided in USD millions. We estimate orthopedic sales and growth rates on an as-reported basis.
Orthopedic Sales by Segment
| 3Q25 | 3Q24 | $ Chg | % Chg | |
|---|---|---|---|---|
| Joint Replacement | $906.1 | $851.5 | $54.5 | 6.4% |
| Knees | $376.1 | $351.6 | $24.5 | 7% |
| Hips | $406.1 | $381.6 | $24.5 | 6.4% |
| Extremities | $123.9 | $118.4 | $5.6 | 4.7% |
| Spine | $208.1 | $214.6 | ($6.4) | (3%) |
| Trauma | $703.1 | $676.8 | $26.3 | 3.9% |
| Sports Medicine | $174.5 | $170.6 | $4.0 | 2.3% |
| Orthobiologics | $83.8 | $84.9 | ($1.2) | (1.4%) |
| Enabling Technology | $20.6 | $19.1 | $1.4 | 7.6% |
| Other | $176.3 | $172.3 | $4.0 | 2.3% |
| Total | $2,272.5 | $2,189.8 | $82.7 | 3.8% |
| 9m25 | 9m24 | $ Chg | % Chg | |
|---|---|---|---|---|
| Joint Replacement | $2,765.7 | $2,735.8 | $29.9 | 1.1% |
| Knees | $1,154.7 | $1,146.5 | $8.1 | 0.7% |
| Hips | $1,235.5 | $1,220.2 | $15.3 | 1.3% |
| Extremities | $375.5 | $369.1 | $6.5 | 1.8% |
| Spine | $665.7 | $722.7 | ($57.0) | (7.9%) |
| Trauma | $2,072.5 | $2,033.2 | $39.3 | 1.9% |
| Sports Medicine | $522.5 | $542.4 | ($19.9) | (3.7%) |
| Orthobiologics | $241.6 | $250.9 | ($9.2) | (3.7%) |
| Enabling Technology | $54.9 | $51.3 | $3.6 | 7% |
| Other | $495.9 | $506.0 | ($10.1) | (2%) |
| Total | $6,818.8 | $6,842.2 | ($23.5) | (0.3%) |
Orthopedic Sales by Geography
| 3Q25 | 3Q24 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $1,395.2 | $1,358.9 | $36.3 | 2.7% |
| OUS | $877.3 | $830.9 | $46.4 | 5.6% |
| EMEA | $421.1 | $394.7 | $26.4 | 6.7% |
| Asia Pacific | $267.6 | $249.3 | $18.3 | 7.3% |
| Rest of World | $188.6 | $187.0 | $1.7 | 0.9% |
| Total | $2,272.5 | $2,189.8 | $82.7 | 3.8% |
| 9m25 | 9m24 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $4,199.5 | $4,229.9 | ($30.4) | (0.7%) |
| OUS | $2,619.3 | $2,612.3 | $6.9 | 0.3% |
| EMEA | $1,261.7 | $1,243.1 | $18.6 | 1.5% |
| Asia Pacific | $855.3 | $859.4 | ($4.1) | (0.5%) |
| Rest of World | $502.3 | $509.8 | ($7.5) | (1.5%) |
| Total | $6,818.8 | $6,842.2 | ($23.5) | (0.3%) |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $23,993.0 | |
| Cost of Sales | $7,303.0 | 30.4% |
| Selling and Admin | $5,922.0 | 24.7% |
| R & D | $3,672.0 | 15.3% |
| Other | $1,944.0 | 8.1% |
| Net Earnings | $5,152.0 | 21.5% |
J&J MedTech announced 3Q25 orthopedic sales of $2.27 billion, up 3.8% compared to the third quarter of 2024. For the first nine months of the year, the company generated $6.8 billion in orthopedic sales, down 0.3% compared to the prior period.
Along with its third-quarter earnings, J&J MedTech announced its intent to separate...
J&J MedTech announced 3Q25 orthopedic sales of $2.27 billion, up 3.8% compared to the third quarter of 2024. For the first nine months of the year, the company generated $6.8 billion in orthopedic sales, down 0.3% compared to the prior period.
Along with its third-quarter earnings, J&J MedTech announced its intent to separate its orthopedics business into a standalone company named DePuy Synthes within the next two years. Namal Nawana is slated to serve as Worldwide President of the entity.
The announcement overshadowed the company’s best orthopedics performance since the first quarter of 2024, with high-single-digit growth in joint replacement and a solid result in trauma.
Orthopedics remains a profitable business and a massive market opportunity, but mature segments like joint replacement and spine don’t have the growth profile that appeals to some investors.
“Ortho is a great business, but frankly one that participates in lower growth markets,” said J&J MedTech EVP of MedTech Tim Schmid. “This is all about shrinking to grow faster for MedTech. And last time I looked, [Wall Street is] not rewarding size, but rather best-in-class performance, and that’s the path that we’re on. As you already have heard, we expect the separation would increase our top line growth and margins following the completion.”
While the eventual spin-off will create significant disruption and opportunity throughout orthopedics, it will likely be some time before the pieces begin to fall. The company said it does not expect any newsworthy developments until mid-2026.
Orthopedic Sales Data
Unless otherwise noted, all orthopedic sales data is provided in USD millions. We estimate orthopedic sales and growth rates on an as-reported basis.
Orthopedic Sales by Segment
| 3Q25 | 3Q24 | $ Chg | % Chg | |
|---|---|---|---|---|
| Joint Replacement | $906.1 | $851.5 | $54.5 | 6.4% |
| Knees | $376.1 | $351.6 | $24.5 | 7% |
| Hips | $406.1 | $381.6 | $24.5 | 6.4% |
| Extremities | $123.9 | $118.4 | $5.6 | 4.7% |
| Spine | $208.1 | $214.6 | ($6.4) | (3%) |
| Trauma | $703.1 | $676.8 | $26.3 | 3.9% |
| Sports Medicine | $174.5 | $170.6 | $4.0 | 2.3% |
| Orthobiologics | $83.8 | $84.9 | ($1.2) | (1.4%) |
| Enabling Technology | $20.6 | $19.1 | $1.4 | 7.6% |
| Other | $176.3 | $172.3 | $4.0 | 2.3% |
| Total | $2,272.5 | $2,189.8 | $82.7 | 3.8% |
| 9m25 | 9m24 | $ Chg | % Chg | |
|---|---|---|---|---|
| Joint Replacement | $2,765.7 | $2,735.8 | $29.9 | 1.1% |
| Knees | $1,154.7 | $1,146.5 | $8.1 | 0.7% |
| Hips | $1,235.5 | $1,220.2 | $15.3 | 1.3% |
| Extremities | $375.5 | $369.1 | $6.5 | 1.8% |
| Spine | $665.7 | $722.7 | ($57.0) | (7.9%) |
| Trauma | $2,072.5 | $2,033.2 | $39.3 | 1.9% |
| Sports Medicine | $522.5 | $542.4 | ($19.9) | (3.7%) |
| Orthobiologics | $241.6 | $250.9 | ($9.2) | (3.7%) |
| Enabling Technology | $54.9 | $51.3 | $3.6 | 7% |
| Other | $495.9 | $506.0 | ($10.1) | (2%) |
| Total | $6,818.8 | $6,842.2 | ($23.5) | (0.3%) |
Orthopedic Sales by Geography
| 3Q25 | 3Q24 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $1,395.2 | $1,358.9 | $36.3 | 2.7% |
| OUS | $877.3 | $830.9 | $46.4 | 5.6% |
| EMEA | $421.1 | $394.7 | $26.4 | 6.7% |
| Asia Pacific | $267.6 | $249.3 | $18.3 | 7.3% |
| Rest of World | $188.6 | $187.0 | $1.7 | 0.9% |
| Total | $2,272.5 | $2,189.8 | $82.7 | 3.8% |
| 9m25 | 9m24 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $4,199.5 | $4,229.9 | ($30.4) | (0.7%) |
| OUS | $2,619.3 | $2,612.3 | $6.9 | 0.3% |
| EMEA | $1,261.7 | $1,243.1 | $18.6 | 1.5% |
| Asia Pacific | $855.3 | $859.4 | ($4.1) | (0.5%) |
| Rest of World | $502.3 | $509.8 | ($7.5) | (1.5%) |
| Total | $6,818.8 | $6,842.2 | ($23.5) | (0.3%) |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $23,993.0 | |
| Cost of Sales | $7,303.0 | 30.4% |
| Selling and Admin | $5,922.0 | 24.7% |
| R & D | $3,672.0 | 15.3% |
| Other | $1,944.0 | 8.1% |
| Net Earnings | $5,152.0 | 21.5% |
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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.
