The company’s 1Q20 growth amid COVID-19 was fueled by $6.8 million in sales from Parcus and Arthosurface, in addition to continuing purchase orders of legacy viscosupplements.
The company rode early 1Q momentum to grow in the low double-digits despite COVID-related procedure deferrals, and has seen signs of incremental recovery in May.
The company managed to drive single-digit growth despite the late-March impact of COVID and expects to be well-positioned to benefit from the inevitable market consolidation occurring due to the pandemic.
Orthopedic sales for the company declined 9.5% in 1Q20 before dropping by nearly half through April. However, the company sees initial recovery signs as countries gradually restart elective procedures.
NuVasive suffered modest impact from COVID-19 in 1Q20 and expects severe reductions in 2Q. However, the company is using its strong cash position to push forward with product development.
Vericel’s MACI revenue grew 22% in 1Q20 despite mid-March disruptions from COVID-19. The company believes it has passed the market low point and remains confident it will recoup most lost procedures.
The company grew in the low double digits in 1Q20 but was on pace for record procedure volumes before COVID-19 impacted the U.S. orthopedic market in mid-March.
While Stryker anticipates significant disruption to orthopedic sales in 2Q20, the company is confident the revenue-generating ability of orthopedics will drive the recovery of deferred procedures.
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