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Year in Review

Public Orthopaedic Companies: 2017 Revenue and 2018 Sales Drivers

By Julie A. Vetalice

The 20 companies tracked in Exhibits 1 and 2 collectively grew +3.0% in 2017 vs. 2016. Individually, you’ll notice some stellar performance in particular segments. (Our final estimates for 2017 orthopaedic industry revenue can be found in THE ORTHOPAEDIC INDUSTRY ANNUAL REPORT®.)

In announcing 2017 revenue, most companies also made 2018 guidance available and shared strategies to support growth in this year and beyond, ranging from recent acquisitions (Alphatec), entry into new market segments (Globus in trauma, ConforMIS in hip), ongoing launches (SYK Mako) or improved cadence of new product launches (ConMed). Other initiatives include line extensions (ZBH Persona) and potentially, new technologies (NUVA’s surgical intelligence tools and OrthoPediatrics’ active growing implants). And, of course, new products in general.

The performance notes linked from Exhibit 1 include ORTHOWORLD estimates for segment sales and growth on an as-reported basis for all companies except Anika, ConMed, ConforMIS, Mazor, Orthofix, OrthoPediatrics, SeaSpine and Vericel.


Exhibit 1: Orthopaedic Sales for Public Companies, As-Reported: 2017 vs. 2016 ($MM)

 Company 2017  2016  $ Change  % Change 
 Alphatec Spine $101.8  $120.2  -$18.4  -15.3% 
 Anika  $93.8  $89.7  $4.1  4.6% 
 ConforMIS $78.1  $79.8  -$1.7  -2.1% 
 ConMed $428.9  $422.2  $6.7  1.6% 
 DePuy Synthes $8,791.5  $8,756.5  $35.0  0.4% 
 DJO $1,186.1  $1,155.4  $30.7  2.7% 
 Globus Medical $636.0  $564.0  $72.0  12.8% 
 Integra  $107.8  $99.2  $8.6  8.6% 
 K2M $258.1  $236.6  $21.5  9.1% 
 Mazor Robotics $64.9  $36.3  $28.6  78.8% 
 Medtronic $2,966.0  $2,930.0  $36.0  1.2% 
 NuVasive $1,029.5  $962.1  $67.4  7.0% 
 Orthofix $433.8  $409.8  $24.0  5.9% 
 OrthoPediatrics $45.6  $37.3  $8.3  22.4% 
 SeaSpine $131.8  $128.8  $3.0  2.3% 
 Smith & Nephew $3,353.4   $3,250.5  $102.9  3.2% 
 Stryker $6,670.1  $6,330.8  $339.3  5.4% 
 Vericel $43.9  $38.8  $5.1  13.2% 
 Wright Medical $745.0  $690.4  $54.6  7.9% 
 Zimmer Biomet $7,273.9  $7,100.9  $173.0  2.4% 



Exhibit 2: Orthopaedic Sales by Market Segment for Public Companies, As-Reported: 2017 vs. 2016 ($MM)

  Joint Recon Trauma ARST Spine Orthobiologics  
 Company Sales % Change YOY Sales % Change YOY Sales % Change YOY Sales % Change YOY Sales % Change YOY Total 
 Alphatec Spine             $92.4  -15.3%  $9.3  -16.1%  $101.8 
 Anika                  $93.8  4.6%  $93.8 
 ConforMIS $78.1  -2.1%                  $78.1 
 ConMed         $428.9  1.6%          $428.9 
 DePuy Synthes $3,350.2  1.1%  $2,491.0  2.1%  $710.5  2.0%  $1,498.5  -3.8%  $404.0  0.4%  $8,791.5 
 DJO $253.6  21.0%                  $1,186.1 
 Globus Medical             $604.8  12.5%  $31.2  18.8%  $636.0 
 Integra  $22.6  15.9%  $85.1  6.8%              $107.8 
 K2M             $249.3  8.8%  $8.8  16.1%  $258.1 
 Mazor Robotics             $64.9  78.7%      $64.9 
 Medtronic             $2,445.0  0.7%  $521.0  4.0%  $2,966.0 
 NuVasive     $34.9  12.6%      $883.8  10.2%  $110.8  -14.1%  $1,029.5 
 Orthofix     $103.2  0.5%      $82.0  12.8%  $62.7  8.3%  $433.8 
 OrthoPediatrics     $32.8  22.2%  $1.2  12.4%  $11.6  24.2%      $45.6 
 SeaSpine             $62.7  0.1%  $69.2  4.4%  $131.8 
 Smith & Nephew $1,669.4  3.7%  $441.0  4.3%  $1,243.0  2.1%          $3,353.4 
 Stryker $3,584.5  5.2%  $1,378.1  8.9%  $494.0  7.0%  $707.1  -0.8%  $219.4  5.7%  $6,670.1 
 Vericel                 $43.9  13.2%  $43.9 
 Wright Medical $338.3  10.3%  $282.9  5.9%  $23.2  0.1%      $100.6  7.7%  $745.0 
 Zimmer Biomet $5,021.9  0.2%  $560.2  4.5%  $129.4  4.2%  $395.9  16.9%  $294.5  3.7%  $7,273.9 

 

Sources: Company press releases, websites, U.S. Securities and Exchange Commission, ORTHOWORLD estimates

Julie A. Vetalice is ORTHOWORLD’s Editorial Assistant. She can be reached by email