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DePuy Synthes reported 4Q21 orthopedic sales of $2.1 billion, -1.6% vs. 4Q20. In 2021, the company generated $8.6 billion in orthopedic sales, +10.6% vs. 2020. Compared to 2019, DePuy Synthes declined -2.9%.
The company found stability in its knee and hip replacement sales over the course of 2021. Hip replacement sales grew +16% compared to 2020, and +3.2% compared to 2019. Market leadership in anterior approach hip replacement, VELYS hip navigation and a growing ASC sales channel drove segment performance.
Knee replacement sales remained pressured by reduced procedure volumes due to the pandemic but the ASC channel, the VELYS robotic system and ATTUNE knee platform helped offset some of that pressure. DePuy Synthes’ knee replacement sales grew +13.3% vs. 2020 but remained well below the company’s 2019 threshold (-10.5%).
DePuy Synthes’ results in other segments were mixed in 2021. Trauma grew +10.4% vs. 2020 and +6.1% vs. 2019. However, its spine made only modest gains vs. 2020 and declined -15.6% vs. its 2019 sales total.
DePuy Synthes may be approaching a crossroads with its spine business. The company’s strategic goal is occupying the number one or two position in its key markets. DePuy Synthes is the number two player in spine, but its peers like Stryker, NuVasive and Globus Medical are closing the gap rapidly.
Joaquin Duato, CEO of Johnson & Johnson, indicated a willingness to be more aggressive in the M&A sphere. He said, “Our aspiration in MedTech is to be the first or the second in the markets that we participate. I want to emphasize that my priority now is to be more on the acquisitive side and to be more aggressive on the acquisition side, identifying products that complement our portfolio but play in higher growth markets or market segments that we are today.”
Orthopedic Sales Data
All orthopedic sales data is provided in USD millions unless otherwise noted. Orthopedic sales and growth rates are estimated on an as-reported basis.
Orthopedic Sales by Segment
| 4Q21 | 4Q20 | $ Chg | % Chg | |
|---|---|---|---|---|
| Joint Replacement | $826.7 | $821.2 | $5.6 | 0.7% |
| Knees | $342.5 | $345.4 | ($2.9) | (0.8%) |
| Hips | $379.9 | $372.0 | $7.9 | 2.1% |
| Extremities | $104.3 | $103.8 | $0.6 | 0.5% |
| Spine | $316.5 | $348.2 | ($31.6) | (9.1%) |
| Trauma | $698.9 | $693.1 | $5.8 | 0.8% |
| Sports Medicine | $144.5 | $151.9 | ($7.4) | (4.9%) |
| Orthobiologics | $88.8 | $94.0 | ($5.2) | (5.5%) |
| Other (CMF) | $79.9 | $83.0 | ($3.1) | (3.8%) |
| Total | $2,155.4 | $2,191.4 | ($36.0) | (1.6%) |
| FY21 | FY20 | $ Chg | % Chg | |
|---|---|---|---|---|
| Joint Replacement | $3,234.0 | $2,824.7 | $409.3 | 14.5% |
| Knees | $1,325.1 | $1,169.8 | $155.3 | 13.3% |
| Hips | $1,484.5 | $1,279.4 | $205.1 | 16% |
| Extremities | $424.3 | $375.5 | $48.8 | 13% |
| Spine | $1,301.8 | $1,245.0 | $56.9 | 4.6% |
| Trauma | $2,769.9 | $2,509.9 | $260.0 | 10.4% |
| Sports Medicine | $593.5 | $546.3 | $47.3 | 8.7% |
| Orthobiologics | $363.6 | $337.3 | $26.3 | 7.8% |
| Other (CMF) | $323.6 | $298.9 | $24.7 | 8.3% |
| Total | $8,586.5 | $7,762.0 | $824.5 | 10.6% |
Orthopedic Sales by Geography
| 4Q21 | 4Q20 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $1,304.9 | $1,351.9 | ($47.0) | (3.5%) |
| OUS | $850.5 | $839.5 | $11.0 | 1.3% |
| EMEA | $375.9 | $366.0 | $9.9 | 2.7% |
| Asia Pacific | $314.7 | $307.3 | $7.4 | 2.4% |
| Rest of World | $159.9 | $166.2 | ($6.3) | (3.8%) |
| Total | $2,155.4 | $2,191.4 | ($36.0) | (1.6%) |
| FY21 | FY20 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $5,125.4 | $4,777.8 | $347.6 | 7.3% |
| OUS | $3,461.1 | $2,984.2 | $476.9 | 16% |
| EMEA | $1,519.4 | $1,325.9 | $193.5 | 14.6% |
| Asia Pacific | $1,277.1 | $1,069.2 | $207.9 | 19.4% |
| Rest of World | $664.6 | $589.1 | $75.5 | 12.8% |
| Total | $8,586.5 | $7,762.0 | $824.5 | 10.6% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $24,804.0 | |
| Cost of Sales | $7,955.0 | 32.1% |
| Selling and Admin | $7,154.0 | 28.8% |
| R & D | $4,720.0 | 19% |
| Other | $239.0 | 1% |
| Net Earnings | $4,736.0 | 19.1% |
Mike Evers is ORTHOWORLD’s Digital Content Strategist. He can be reached by email.
DePuy Synthes reported 4Q21 orthopedic sales of $2.1 billion, -1.6% vs. 4Q20. In 2021, the company generated $8.6 billion in orthopedic sales, +10.6% vs. 2020. Compared to 2019, DePuy Synthes declined -2.9%.
The company found stability in its knee and hip replacement sales over the course of 2021. Hip replacement sales grew +16% compared to...
DePuy Synthes reported 4Q21 orthopedic sales of $2.1 billion, -1.6% vs. 4Q20. In 2021, the company generated $8.6 billion in orthopedic sales, +10.6% vs. 2020. Compared to 2019, DePuy Synthes declined -2.9%.
The company found stability in its knee and hip replacement sales over the course of 2021. Hip replacement sales grew +16% compared to 2020, and +3.2% compared to 2019. Market leadership in anterior approach hip replacement, VELYS hip navigation and a growing ASC sales channel drove segment performance.
Knee replacement sales remained pressured by reduced procedure volumes due to the pandemic but the ASC channel, the VELYS robotic system and ATTUNE knee platform helped offset some of that pressure. DePuy Synthes’ knee replacement sales grew +13.3% vs. 2020 but remained well below the company’s 2019 threshold (-10.5%).
DePuy Synthes’ results in other segments were mixed in 2021. Trauma grew +10.4% vs. 2020 and +6.1% vs. 2019. However, its spine made only modest gains vs. 2020 and declined -15.6% vs. its 2019 sales total.
DePuy Synthes may be approaching a crossroads with its spine business. The company’s strategic goal is occupying the number one or two position in its key markets. DePuy Synthes is the number two player in spine, but its peers like Stryker, NuVasive and Globus Medical are closing the gap rapidly.
Joaquin Duato, CEO of Johnson & Johnson, indicated a willingness to be more aggressive in the M&A sphere. He said, “Our aspiration in MedTech is to be the first or the second in the markets that we participate. I want to emphasize that my priority now is to be more on the acquisitive side and to be more aggressive on the acquisition side, identifying products that complement our portfolio but play in higher growth markets or market segments that we are today.”
Orthopedic Sales Data
All orthopedic sales data is provided in USD millions unless otherwise noted. Orthopedic sales and growth rates are estimated on an as-reported basis.
Orthopedic Sales by Segment
| 4Q21 | 4Q20 | $ Chg | % Chg | |
|---|---|---|---|---|
| Joint Replacement | $826.7 | $821.2 | $5.6 | 0.7% |
| Knees | $342.5 | $345.4 | ($2.9) | (0.8%) |
| Hips | $379.9 | $372.0 | $7.9 | 2.1% |
| Extremities | $104.3 | $103.8 | $0.6 | 0.5% |
| Spine | $316.5 | $348.2 | ($31.6) | (9.1%) |
| Trauma | $698.9 | $693.1 | $5.8 | 0.8% |
| Sports Medicine | $144.5 | $151.9 | ($7.4) | (4.9%) |
| Orthobiologics | $88.8 | $94.0 | ($5.2) | (5.5%) |
| Other (CMF) | $79.9 | $83.0 | ($3.1) | (3.8%) |
| Total | $2,155.4 | $2,191.4 | ($36.0) | (1.6%) |
| FY21 | FY20 | $ Chg | % Chg | |
|---|---|---|---|---|
| Joint Replacement | $3,234.0 | $2,824.7 | $409.3 | 14.5% |
| Knees | $1,325.1 | $1,169.8 | $155.3 | 13.3% |
| Hips | $1,484.5 | $1,279.4 | $205.1 | 16% |
| Extremities | $424.3 | $375.5 | $48.8 | 13% |
| Spine | $1,301.8 | $1,245.0 | $56.9 | 4.6% |
| Trauma | $2,769.9 | $2,509.9 | $260.0 | 10.4% |
| Sports Medicine | $593.5 | $546.3 | $47.3 | 8.7% |
| Orthobiologics | $363.6 | $337.3 | $26.3 | 7.8% |
| Other (CMF) | $323.6 | $298.9 | $24.7 | 8.3% |
| Total | $8,586.5 | $7,762.0 | $824.5 | 10.6% |
Orthopedic Sales by Geography
| 4Q21 | 4Q20 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $1,304.9 | $1,351.9 | ($47.0) | (3.5%) |
| OUS | $850.5 | $839.5 | $11.0 | 1.3% |
| EMEA | $375.9 | $366.0 | $9.9 | 2.7% |
| Asia Pacific | $314.7 | $307.3 | $7.4 | 2.4% |
| Rest of World | $159.9 | $166.2 | ($6.3) | (3.8%) |
| Total | $2,155.4 | $2,191.4 | ($36.0) | (1.6%) |
| FY21 | FY20 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $5,125.4 | $4,777.8 | $347.6 | 7.3% |
| OUS | $3,461.1 | $2,984.2 | $476.9 | 16% |
| EMEA | $1,519.4 | $1,325.9 | $193.5 | 14.6% |
| Asia Pacific | $1,277.1 | $1,069.2 | $207.9 | 19.4% |
| Rest of World | $664.6 | $589.1 | $75.5 | 12.8% |
| Total | $8,586.5 | $7,762.0 | $824.5 | 10.6% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $24,804.0 | |
| Cost of Sales | $7,955.0 | 32.1% |
| Selling and Admin | $7,154.0 | 28.8% |
| R & D | $4,720.0 | 19% |
| Other | $239.0 | 1% |
| Net Earnings | $4,736.0 | 19.1% |
Mike Evers is ORTHOWORLD’s Digital Content Strategist. He can be reached by email.
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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.
