Zimmer Biomet, Stryker, DePuy Synthes and Smith+Nephew combined for nearly $3.4 billion in large joint replacement sales during the fourth quarter of 2019. Those companies expected significant momentum as they moved into 2020. However, the COVID-19 pandemic brought unprecedented disruption to the healthcare industry. More than two years later, many orthopedic segments are still clawing back to normalcy.
This month’s chart looks at the quarterly knee replacement and hip replacement sales for the big four companies from the beginning of 2019 through the third quarter of 2022. These are as-reported sales from each company and therefore do not exclude the increasingly heavy impact of foreign currency translation.
Joint replacement faced an arduous climb out of the pandemic low point in 2Q20. Since then, it has contended with new COVID strains, widespread hospital staffing shortages and profound price reductions in China due to volume-based procurement.
“While we are seeing volumes recover, hospital staffing pressures have continued to impact the ability to reduce the procedural backlog in a meaningful way. These challenges will likely resolve gradually, and we expect this will be a moderate tailwind into next year,” said Jason Beach, Stryker’s VP of Investor Relations.
We project 2022 knee replacement sales of $9.3 billion and hip replacement sales of $7.9 billion, reflecting year-over-year reported growth of 3.4% and 2.2% respectively.
Zimmer Biomet, Stryker, DePuy Synthes and Smith+Nephew combined for nearly $3.4 billion in large joint replacement sales during the fourth quarter of 2019. Those companies expected significant momentum as they moved into 2020. However, the COVID-19 pandemic brought unprecedented disruption to the healthcare industry. More than two years later,...
Zimmer Biomet, Stryker, DePuy Synthes and Smith+Nephew combined for nearly $3.4 billion in large joint replacement sales during the fourth quarter of 2019. Those companies expected significant momentum as they moved into 2020. However, the COVID-19 pandemic brought unprecedented disruption to the healthcare industry. More than two years later, many orthopedic segments are still clawing back to normalcy.
This month’s chart looks at the quarterly knee replacement and hip replacement sales for the big four companies from the beginning of 2019 through the third quarter of 2022. These are as-reported sales from each company and therefore do not exclude the increasingly heavy impact of foreign currency translation.
Joint replacement faced an arduous climb out of the pandemic low point in 2Q20. Since then, it has contended with new COVID strains, widespread hospital staffing shortages and profound price reductions in China due to volume-based procurement.
“While we are seeing volumes recover, hospital staffing pressures have continued to impact the ability to reduce the procedural backlog in a meaningful way. These challenges will likely resolve gradually, and we expect this will be a moderate tailwind into next year,” said Jason Beach, Stryker’s VP of Investor Relations.
We project 2022 knee replacement sales of $9.3 billion and hip replacement sales of $7.9 billion, reflecting year-over-year reported growth of 3.4% and 2.2% respectively.
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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.
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