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DePuy Synthes reported 2Q23 orthopedic sales of $2.3 billion, +5% compared to the second quarter of 2022. For the first half, the company generated $4.5 billion in orthopedic sales, +3.8% compared to the prior year.
After scuffling through much of 2021 and 2022, DePuy Synthes’ last four quarters showed significant improvement and sequential growth. Global procedure stability, recovery in China and continued uptake of recent product launches set the conditions for growth. The company pointed to its VELYS digital portfolio as a key driver and anticipates further international growth after recent CE and CA Mark approvals.
While volume-based procurement in China and supply challenges in hip replacement remain obstacles, Depuy Synthes expects continued momentum in the second half of the year.
“In MedTech, we continue to anticipate stable procedure volumes and healthcare staffing levels with normal seasonality,” said Johnson & Johnson VP of Investor Relations Jessica Moore. “We expect continued competitive performance attributable to commercial execution of recently launched products and improvement in supply. Headwinds from volume-based procurement in China, as well as potential impacts from international sanctions in Russia, are expected to be higher in the second half than the first half of the year.”
Johnson & Johnson raised its full-year 2023 sales guidance for the second time this year and now expects reported total sales growth of 7%.
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
| 2Q23 | 2Q22 | $ Chg | % Chg | |
|---|---|---|---|---|
| Joint Replacement | $861.0 | $831.7 | $29.3 | 3.5% |
| Knees | $363.1 | $349.5 | $13.6 | 3.9% |
| Hips | $396.7 | $388.0 | $8.7 | 2.2% |
| Extremities | $101.2 | $94.2 | $7.0 | 7.5% |
| Spine | $314.3 | $304.2 | $10.1 | 3.3% |
| Trauma | $661.3 | $618.0 | $43.3 | 7% |
| Sports Medicine | $208.5 | $195.6 | $12.9 | 6.6% |
| Orthobiologics | $74.4 | $72.4 | $1.9 | 2.7% |
| Enabling Technology | $17.6 | $10.9 | $6.8 | 62.3% |
| Other* | $128.2 | $125.0 | $3.1 | 2.5% |
| Total | $2,265.2 | $2,157.8 | $107.4 | 5.0% |
| 1H23 | 1H22 | $ Chg | % Chg | |
|---|---|---|---|---|
| Joint Replacement | $1,720.5 | $1,652.1 | $68.4 | 4.1% |
| Knees | $731.4 | $688.5 | $42.9 | 6.2% |
| Hips | $787.4 | $777.0 | $10.3 | 1.3% |
| Extremities | $201.7 | $186.6 | $15.1 | 8.1% |
| Spine | $626.1 | $610.1 | $16.1 | 2.6% |
| Trauma | $1,335.0 | $1,281.6 | $53.4 | 4.2% |
| Sports Medicine | $401.6 | $380.5 | $21.1 | 5.5% |
| Orthobiologics | $150.9 | $147.1 | $3.7 | 2.5% |
| Enabling Technology | $35.8 | $25.1 | $10.8 | 42.9% |
| Other* | $239.9 | $248.7 | ($8.8) | (3.5%) |
| Total | $4,509.7 | $4,345.1 | $164.6 | 3.8% |
*CMF
Orthopedic Sales by Geography
| 2Q23 | 2Q22 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $1,387.9 | $1,338.3 | $49.6 | 3.7% |
| OUS | $877.3 | $819.5 | $57.8 | 7% |
| EMEA | $409.7 | $363.1 | $46.6 | 12.8% |
| Asia Pacific | $300.0 | $290.9 | $9.1 | 3.1% |
| Rest of World | $167.6 | $165.5 | $2.0 | 1.2% |
| Total | $2,265.2 | $2,157.8 | $107.4 | 5% |
| 1H23 | 1H22 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $2,751.3 | $2,626.6 | $124.7 | 4.7% |
| OUS | $1,758.5 | $1,718.5 | $39.9 | 2.3% |
| EMEA | $823.9 | $758.6 | $65.2 | 8.6% |
| Asia Pacific | $612.9 | $632.6 | ($19.7) | (3.1%) |
| Rest of World | $321.8 | $327.4 | ($5.6) | (1.7%) |
| Total | $4,509.7 | $4,345.1 | $164.6 | 3.8% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $25,530.0 | |
| Cost of Sales | $8,212.0 | 32.2% |
| Selling and Admin | $6,665.0 | 26.1% |
| R & D | $3,829.0 | 15% |
| Other | $1,680.0 | 6.6% |
| Net Earnings | $5,144.0 | %20.1% |
DePuy Synthes reported 2Q23 orthopedic sales of $2.3 billion, +5% compared to the second quarter of 2022. For the first half, the company generated $4.5 billion in orthopedic sales, +3.8% compared to the prior year.
After scuffling through much of 2021 and 2022, DePuy Synthes’ last four quarters showed significant improvement and...
DePuy Synthes reported 2Q23 orthopedic sales of $2.3 billion, +5% compared to the second quarter of 2022. For the first half, the company generated $4.5 billion in orthopedic sales, +3.8% compared to the prior year.
After scuffling through much of 2021 and 2022, DePuy Synthes’ last four quarters showed significant improvement and sequential growth. Global procedure stability, recovery in China and continued uptake of recent product launches set the conditions for growth. The company pointed to its VELYS digital portfolio as a key driver and anticipates further international growth after recent CE and CA Mark approvals.
While volume-based procurement in China and supply challenges in hip replacement remain obstacles, Depuy Synthes expects continued momentum in the second half of the year.
“In MedTech, we continue to anticipate stable procedure volumes and healthcare staffing levels with normal seasonality,” said Johnson & Johnson VP of Investor Relations Jessica Moore. “We expect continued competitive performance attributable to commercial execution of recently launched products and improvement in supply. Headwinds from volume-based procurement in China, as well as potential impacts from international sanctions in Russia, are expected to be higher in the second half than the first half of the year.”
Johnson & Johnson raised its full-year 2023 sales guidance for the second time this year and now expects reported total sales growth of 7%.
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
| 2Q23 | 2Q22 | $ Chg | % Chg | |
|---|---|---|---|---|
| Joint Replacement | $861.0 | $831.7 | $29.3 | 3.5% |
| Knees | $363.1 | $349.5 | $13.6 | 3.9% |
| Hips | $396.7 | $388.0 | $8.7 | 2.2% |
| Extremities | $101.2 | $94.2 | $7.0 | 7.5% |
| Spine | $314.3 | $304.2 | $10.1 | 3.3% |
| Trauma | $661.3 | $618.0 | $43.3 | 7% |
| Sports Medicine | $208.5 | $195.6 | $12.9 | 6.6% |
| Orthobiologics | $74.4 | $72.4 | $1.9 | 2.7% |
| Enabling Technology | $17.6 | $10.9 | $6.8 | 62.3% |
| Other* | $128.2 | $125.0 | $3.1 | 2.5% |
| Total | $2,265.2 | $2,157.8 | $107.4 | 5.0% |
| 1H23 | 1H22 | $ Chg | % Chg | |
|---|---|---|---|---|
| Joint Replacement | $1,720.5 | $1,652.1 | $68.4 | 4.1% |
| Knees | $731.4 | $688.5 | $42.9 | 6.2% |
| Hips | $787.4 | $777.0 | $10.3 | 1.3% |
| Extremities | $201.7 | $186.6 | $15.1 | 8.1% |
| Spine | $626.1 | $610.1 | $16.1 | 2.6% |
| Trauma | $1,335.0 | $1,281.6 | $53.4 | 4.2% |
| Sports Medicine | $401.6 | $380.5 | $21.1 | 5.5% |
| Orthobiologics | $150.9 | $147.1 | $3.7 | 2.5% |
| Enabling Technology | $35.8 | $25.1 | $10.8 | 42.9% |
| Other* | $239.9 | $248.7 | ($8.8) | (3.5%) |
| Total | $4,509.7 | $4,345.1 | $164.6 | 3.8% |
*CMF
Orthopedic Sales by Geography
| 2Q23 | 2Q22 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $1,387.9 | $1,338.3 | $49.6 | 3.7% |
| OUS | $877.3 | $819.5 | $57.8 | 7% |
| EMEA | $409.7 | $363.1 | $46.6 | 12.8% |
| Asia Pacific | $300.0 | $290.9 | $9.1 | 3.1% |
| Rest of World | $167.6 | $165.5 | $2.0 | 1.2% |
| Total | $2,265.2 | $2,157.8 | $107.4 | 5% |
| 1H23 | 1H22 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $2,751.3 | $2,626.6 | $124.7 | 4.7% |
| OUS | $1,758.5 | $1,718.5 | $39.9 | 2.3% |
| EMEA | $823.9 | $758.6 | $65.2 | 8.6% |
| Asia Pacific | $612.9 | $632.6 | ($19.7) | (3.1%) |
| Rest of World | $321.8 | $327.4 | ($5.6) | (1.7%) |
| Total | $4,509.7 | $4,345.1 | $164.6 | 3.8% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $25,530.0 | |
| Cost of Sales | $8,212.0 | 32.2% |
| Selling and Admin | $6,665.0 | 26.1% |
| R & D | $3,829.0 | 15% |
| Other | $1,680.0 | 6.6% |
| Net Earnings | $5,144.0 | %20.1% |
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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.
