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DePuy Synthes reported 1Q23 orthopedic sales of $2.2 billion, +2.6% compared to the first quarter of 2022. Excluding the impact of currency translation, the company grew +5.1% for the reporting period.
Global orthopedic procedure recovery, uptake of recently launched products and commercial execution drove DePuy Synthes’ growth. Softer procedure volumes, supply constraints and volume-based procurement hurt performance in China. Overall, however, company leaders expect stable procedure volumes and staffing levels for the remainder of 2023, with normal seasonality.
DePuy Synthes is responsibly optimistic about its prospects in 2023. “The market is in our favor,” said Ashley McEvoy, who runs Johnson & Johnson’s medtech business. “The Orthopaedics team built a very differentiated portfolio. They are now participating in the fastest-growing segments within the category. And what are those areas? It’s all things robotics. It’s around new sites of care like ASCs. It’s around extremities. It’s around revision and cementless needs.”
The company’s VELYS robotic system received its CE Mark in April 2023, clearing the way for more global expansion beyond the system’s current five countries.
Orthopedic Sales Data
All orthopedic sales data is provided in USD millions unless otherwise noted. We estimate orthopedic sales and growth on an as-reported basis.
Orthopedic Sales by Segment
| 1Q23 | 1Q22 | $ Chg | % Chg | |
|---|---|---|---|---|
| Joint Replacement | $859.5 | $820.5 | $39.1 | 4.8% |
| Knees | $368.3 | $339.0 | $29.3 | 8.7% |
| Hips | $390.7 | $389.0 | $1.7 | 0.4% |
| Extremities | $100.5 | $92.5 | $8.1 | 8.7% |
| Spine | $311.8 | $305.8 | $6.0 | 2% |
| Trauma | $673.7 | $663.6 | $10.2 | 1.5% |
| Sports Medicine | $193.1 | $184.9 | $8.1 | 4.4% |
| Orthobiologics | $76.5 | $74.7 | $1.8 | 2.4% |
| Enabling Technology | $18.2 | $14.2 | $4.0 | 28% |
| Other | $111.7 | $123.7 | ($12.0) | (9.7%) |
| Total | $2,244.5 | $2,187.3 | $57.2 | 2.6% |
Orthopedic Sales by Geography
| 1Q23 | 1Q22 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $1,363.3 | $1,288.3 | $75.0 | 5.8% |
| OUS | $881.2 | $899.0 | ($17.8) | (2%) |
| EMEA | $414.1 | $395.6 | $18.6 | 4.7% |
| Asia Pacific | $312.8 | $341.6 | ($28.8) | (8.4%) |
| Rest of World | $154.2 | $161.8 | ($7.6) | (4.7%) |
| Total | $2,244.5 | $2,187.3 | $57.2 | 2.6% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $23,426.0 | |
| Cost of Sales | $7,598.0 | 32.4% |
| Selling and Admin | $6,138.0 | 26.2% |
| R & D | $3,563.0 | 15.2% |
| Other | $6,195.0 | 26.4% |
| Net Earnings | ($68.0) | (0.3%) |
DePuy Synthes reported 1Q23 orthopedic sales of $2.2 billion, +2.6% compared to the first quarter of 2022. Excluding the impact of currency translation, the company grew +5.1% for the reporting period.
Global orthopedic procedure recovery, uptake of recently launched products and commercial execution drove DePuy Synthes' growth. Softer...
DePuy Synthes reported 1Q23 orthopedic sales of $2.2 billion, +2.6% compared to the first quarter of 2022. Excluding the impact of currency translation, the company grew +5.1% for the reporting period.
Global orthopedic procedure recovery, uptake of recently launched products and commercial execution drove DePuy Synthes’ growth. Softer procedure volumes, supply constraints and volume-based procurement hurt performance in China. Overall, however, company leaders expect stable procedure volumes and staffing levels for the remainder of 2023, with normal seasonality.
DePuy Synthes is responsibly optimistic about its prospects in 2023. “The market is in our favor,” said Ashley McEvoy, who runs Johnson & Johnson’s medtech business. “The Orthopaedics team built a very differentiated portfolio. They are now participating in the fastest-growing segments within the category. And what are those areas? It’s all things robotics. It’s around new sites of care like ASCs. It’s around extremities. It’s around revision and cementless needs.”
The company’s VELYS robotic system received its CE Mark in April 2023, clearing the way for more global expansion beyond the system’s current five countries.
Orthopedic Sales Data
All orthopedic sales data is provided in USD millions unless otherwise noted. We estimate orthopedic sales and growth on an as-reported basis.
Orthopedic Sales by Segment
| 1Q23 | 1Q22 | $ Chg | % Chg | |
|---|---|---|---|---|
| Joint Replacement | $859.5 | $820.5 | $39.1 | 4.8% |
| Knees | $368.3 | $339.0 | $29.3 | 8.7% |
| Hips | $390.7 | $389.0 | $1.7 | 0.4% |
| Extremities | $100.5 | $92.5 | $8.1 | 8.7% |
| Spine | $311.8 | $305.8 | $6.0 | 2% |
| Trauma | $673.7 | $663.6 | $10.2 | 1.5% |
| Sports Medicine | $193.1 | $184.9 | $8.1 | 4.4% |
| Orthobiologics | $76.5 | $74.7 | $1.8 | 2.4% |
| Enabling Technology | $18.2 | $14.2 | $4.0 | 28% |
| Other | $111.7 | $123.7 | ($12.0) | (9.7%) |
| Total | $2,244.5 | $2,187.3 | $57.2 | 2.6% |
Orthopedic Sales by Geography
| 1Q23 | 1Q22 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $1,363.3 | $1,288.3 | $75.0 | 5.8% |
| OUS | $881.2 | $899.0 | ($17.8) | (2%) |
| EMEA | $414.1 | $395.6 | $18.6 | 4.7% |
| Asia Pacific | $312.8 | $341.6 | ($28.8) | (8.4%) |
| Rest of World | $154.2 | $161.8 | ($7.6) | (4.7%) |
| Total | $2,244.5 | $2,187.3 | $57.2 | 2.6% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $23,426.0 | |
| Cost of Sales | $7,598.0 | 32.4% |
| Selling and Admin | $6,138.0 | 26.2% |
| R & D | $3,563.0 | 15.2% |
| Other | $6,195.0 | 26.4% |
| Net Earnings | ($68.0) | (0.3%) |
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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.
