Revenue Report

August 18, 2021

What Orthopedic Executives Said About 2Q21

What Orthopedic Executives Said About 2Q21
Second-quarter commentary from ortho executives focused on acquisitions, knee replacement sales performance and enabling technology's impact.

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August 11, 2021

Conformis IP Buys Time for New Products

Conformis IP Buys Time for New Products
The company benefitted from $41 million in one-time royalty and settlement payments in 2Q21 but its product revenue remains down vs. 2019.

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May 3, 2021

DJO Primed for Growth and Expansion in 2021

DJO Primed for Growth and Expansion in 2021
The company grew in the high single-digits for 1Q21 and strengthened finances to drive further acquisitions for its foot-and-ankle business.

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March 19, 2021

Surgalign Embraces New Paradigm for 2021

Surgalign Embraces New Paradigm for 2021
The company embarked upon a strategic shift from an implants to a digital services, built upon the technology acquired with HoloSurgical.

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March 11, 2021

SI-BONE Eyes Market Expansion in 2021

SI-BONE Eyes Market Expansion in 2021
The company grew +9% in 2020 despite the pandemic, buoyed by reimbursement wins and an innovative approach to drive surgeon adoption.

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March 8, 2021

SeaSpine Expects 20% Growth in 2021

SeaSpine Expects 20% Growth in 2021
The company capped 2020 with record revenues in the fourth quarter, and expects that momentum to continue in 2021.

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March 3, 2021

Orthofix Expects Continued Pressure in 1Q21

Orthofix Expects Continued Pressure in 1Q21
Although the company closed 2020 with strong sales from its spine franchise, it expects continued COVID-related declines through March 2021.

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February 18, 2021

Globus Sets Revenue Records to Close 2020

Globus Sets Revenue Records to Close 2020
The company set records for total sales and enabling technology in 4Q20, pushing Globus to an all-time high revenue mark for the full year.

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February 8, 2021

Seikagaku Weathers Another Quarter of Losses

Seikagaku Weathers Another Quarter of Losses
Despite some volume increases in Japan and the U.S., the company continued to slide due to COVID and erosion of the 5-injection HA market.

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February 4, 2021

Bioventus Launches New Initial Public Offering

Bioventus Launches New Initial Public Offering
The company announced its second IPO try today with an initial public offering of its Class A common stock targeting $100 million in proceeds.
November 9, 2020

Orthofix Improvement Not Enough to Spur Growth

Orthofix Improvement Not Enough to Spur Growth
U.S. spinal sales drove Orthofix's sequential improvement in 3Q20 but were not enough to overcome lingering procedure volume declines due to COVID.

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November 2, 2020

Stryker Growth Driven by Mako and ASC Gains

Stryker Growth Driven by Mako and ASC Gains
The progressive return of elective procedures and demand for Mako drove the company's V-shaped recovery from the second quarter pandemic low point.

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October 30, 2020

ConMed’s Recovery Blunted by Slow Capital Sales

ConMed’s Recovery Blunted by Slow Capital Sales
The company's revenue declined -7.4% in 3Q20 as capital sales remain slow, and the lack of team sports activity depresses sports medicine procedure volumes.

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September 1, 2020

AK Medical Grows Double-Digits in China

AK Medical Grows Double-Digits in China
The company grew in the high single digits for 1H20 as it benefited from provincial procurement tenders and the acquisition of Libeier.

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August 28, 2020

Medtronic Takes Market Share from Peers in 2Q20

Medtronic Takes Market Share from Peers in 2Q20
The company believes it outperformed peers and took at least half a point of share in the second calendar quarter on the strength of its technology.

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August 19, 2020

Medartis Keeps Pace with Priorities Amid COVID

Medartis Keeps Pace with Priorities Amid COVID
Despite the impact of COVID, the company forged ahead with its priorities, including expanding its U.S. business and accelerating its innovation pipeline.

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August 13, 2020

Integra Claws Back from Massive April Declines

Integra Claws Back from Massive April Declines
The company's orthopedic sales declined -49% in 2Q20 but recovered significantly from -80% declines in April. Integra expects improvement through 2H20.

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August 12, 2020

DJO Expects Improved Growth in 2020 Second Half

DJO Expects Improved Growth in 2020 Second Half
The company exited June down just -3% in its joint replacement business and expects sequential improvements to continue through 2020 and into 2021.

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August 11, 2020

Vericel Expects Growth in Second Half 2020

Vericel Expects Growth in Second Half 2020
The company exited 2Q20 with significant momentum in June and expects MACI to grow at least in the mid-single-digits for the second half of the year.

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August 6, 2020

NuVasive Does Not Expect Full Recovery in 2020

NuVasive Does Not Expect Full Recovery in 2020
The company believes patient backlogs contributed significantly to volume acceleration observed in 2Q20, while new patient volumes remain depressed.

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August 5, 2020

Zimmer Biomet to Focus on High-Growth Businesses

Zimmer Biomet to Focus on High-Growth Businesses
A quicker than expected market recovery mitigated COVID's impact on the company's 2Q20 revenue as Zimmer Biomet shifts its focus to high-growth segments.

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August 5, 2020

SI-BONE Churns Through Procedure Backlog in 2Q

SI-BONE Churns Through Procedure Backlog in 2Q
The company exited June 2020 with revenues up +42% compared to the prior year as it benefitted from a backlog of procedures rescheduled in March and April.

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August 3, 2020

Anika Inorganic Growth Offsets COVID Declines

Anika Inorganic Growth Offsets COVID Declines
Sports medicine revenue from the acquisition of Parcus Medical and Arthrosurface helped Anika navigate the low point of the COVID orthopedic market in 2Q20.

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May 19, 2020

Orthopedics to Take Unprecedented Hit from COVID-19, Market Fundamentals Remain Strong

Orthopedics to Take Unprecedented Hit from COVID-19, Market Fundamentals Remain Strong
The underlying fundamentals of the orthopedic industry remain unchanged due to COVID-19. However, we should prepare for significant alterations in the market landscape as well as the ways that we interact with colleagues and customers.

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May 13, 2020

Zimmer Biomet Doubling Down on Innovation During COVID

Zimmer Biomet Doubling Down on Innovation During COVID
While the company's orthopedic revenues declined in the high single-digits in 1Q20, Zimmer Biomet's balance sheet and cost containment measures will allow it to aggressively pursue key R&D initiatives.

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May 13, 2020

Integra LifeSciences Anticipates Market Recovery in 4Q20

Integra LifeSciences Anticipates Market Recovery in 4Q20
The company's orthopedic business declined in mid-single digits for 1Q20, with a precipitous -80% decline in April. However, Integra expects the market to right itself by year-end.

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May 12, 2020

ATEC Spine Bullish on Growth Prospects Despite COVID

ATEC Spine Bullish on Growth Prospects Despite COVID
The company's late-2019 growth momentum continued for most of 1Q20, resulting in nearly 22.6% growth. ATEC is confident the spine market will be one of the first to rebound from COVID-19.

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May 11, 2020

Globus Expects to Emerge from COVID-19 in Stronger Position

Globus Expects to Emerge from COVID-19 in Stronger Position
The company managed to drive single-digit growth despite the late-March impact of COVID and expects to be well-positioned to benefit from the inevitable market consolidation occurring due to the pandemic.

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May 8, 2020

Smith+Nephew Weekly Sales Decline -47% in April

Smith+Nephew Weekly Sales Decline -47% in April
Orthopedic sales for the company declined 9.5% in 1Q20 before dropping by nearly half through April. However, the company sees initial recovery signs as countries gradually restart elective procedures.

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May 8, 2020

NuVasive in Strong Position to Weather the COVID-19 Storm

NuVasive in Strong Position to Weather the COVID-19 Storm
NuVasive suffered modest impact from COVID-19 in 1Q20 and expects severe reductions in 2Q. However, the company is using its strong cash position to push forward with product development.

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May 7, 2020

Vericel Confident in Near-Term MACI Recovery

Vericel Confident in Near-Term MACI Recovery
Vericel's MACI revenue grew 22% in 1Q20 despite mid-March disruptions from COVID-19. The company believes it has passed the market low point and remains confident it will recoup most lost procedures.

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April 16, 2020

Infographic: Top 10 Orthopedic Device Companies

Infographic: Top 10 Orthopedic Device Companies
Billions of dollars separate the top 3 orthopedic device companies from the rest of the pack. Our infographic details the 10 largest players.
February 26, 2020

NuVasive Hits $1 Billion in Spine Sales for 2019

NuVasive Hits $1 Billion in Spine Sales for 2019
Improving MIS adoption and new products drove NuVasive's growth in 2019 but the company also announced the launch of its Pulse system will be delayed.

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February 4, 2020

Zimmer Biomet Doubles Down on Enabling Technology

Zimmer Biomet mitigated its losses in the U.S. knee market in 4Q19 partially due to the continuing adoption of its ROSA robotic knee replacement system.

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November 11, 2019

Xtant Taps New CEO to Lead Turnaround Effort

Xtant Medical's revenue continued to decline in 3Q19 as the company selected Sean Browne as the new President and CEO to lead a turnaround.

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September 20, 2019

Orthopedic Public Companies Grow 2.6% YoY in Quarter

Orthopedic Public Companies Grow 2.6% YoY in Quarter
The second quarter of 2019 brought incremental improvement over the first. Stryker and Medtronic saw revenue growth in the mid-single digits, Smith Nephew performed at 1.6% and DePuy Synthes and Zimmer Biomet experienced a year-over-year loss. Price pressure was a common theme in the quarter for many companies, as it offset some gains made from increased surgical volumes for the reporting period.

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July 25, 2019

The Spine Market: A Look at Past and Forecasted Performance

Spine is the largest individual segment that we track, accounting for 18.2% of the orthopedic industry's overall revenue. Excluding biologics, sales of orthopedic spine products topped $9.3 billion in 2018, growing +2.7% vs. 2017. Growth in the segment exceeded our expectations, as several companies in the top 10 posted double-digit increases that offset lower performance by manufacturers at the top of the list. Here, we take a deeper look at past, present and forecasted performance.
June 18, 2019

Orthopedic Sales in Line with Seasonal Expectations for 1Q19

Orthopedic Sales in Line with Seasonal Expectations for 1Q19
The first quarter of 2019 brought modest growth to the orthopedic market, as expected seasonal softness and more competition in digital surgery platforms slowed sales for some of the largest players. The 25 companies covered in this article had combined total orthopedic sales of $8.7 billion, growing just 1.1% versus the prior year. While the top two players, DePuy Synthes and Zimmer Biomet, both saw -2% growth, the quarter did feature strong performances by Medtronic (+5%) and Wright Medical (+16%) among the larger players.

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May 22, 2019

Hip Joint Replacement Market Experiences 3% Growth

The global hip joint replacement market grew 3.2% in 2018 vs. 2017, reaching revenue of USD $7.6 billion. We project that the market will reach $8.9 billion by 2023. In this article, we'll dive deeper into 2018 performance from companies like Zimmer Biomet, Stryker, DePuy Synthes, Smith & Nephew, Medacta and DJO, and review results from 1Q19.
April 23, 2019

Orthopedic Industry Revenue Reaches $51 Billion in 2018

Orthopedic Industry Revenue Reaches $51 Billion in 2018
According to our estimates published in THE ORTHOPAEDIC INUSTRY ANNUAL REPORT, orthopedic industry revenue reached $51 billion worldwide in 2018 and grew 3.5% over 2017. Results were mixed among the largest companies as some stumbled operationally while others overperformed, due in part to early adoption of technology and entry into high-growth segments. Common strategic themes present in 2018 that will continue as part of the industry's narrative in 2019 and beyond include connected ecosystems of products, flagship technology (e.g. robotics), portfolio-wide pull through and a growing shift to outpatient procedures.

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March 5, 2019

4WEB Medical Expands Surgeons Users by 20%

4WEB Medical achieved its highest quarterly sales revenue to date in 4Q18, driven largely by adoption of the Total Lateral Solution.

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February 22, 2019

Robotics, ASCs Will Continue to Drive Knee Replacement Market Trends

ORTHOWORLD expects the knee segment to remain a steady performer in the low single digits as price pressure erodes revenue from legacy products, but new technologies and products allow well-positioned companies to drive more favorable sales mix.
January 8, 2019

ConforMIS, Orthofix and OrthoPediatrics Report Preliminary 4Q18 and FY 2018 Results

Preliminary results for ConforMIS, Orthofix and OrthoPediatrics were mixed. While ConforMI's net revenue for the year grew in the double digits, adjusting for product-only revenue reveals a mostly flat year. Orthofix rode strong spinal implant sales to mid-single-digit growth for the year but was impacted by the slowdown in the biologics market. OrthoPediatrics continued to leverage its leadership position in the pediatric space to achieve aggressive sales growth for both the quarter and year.

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December 13, 2018

2018 Year in Review: Revenue Projections and Technology Trends

2018 Year in Review: Revenue Projections and Technology Trends
In November, we published our downloadable report, 2018 Revenue Projections: Companies Over $200 Million, for the 25 largest orthopaedic companies. Sales for these 25 companies account for ~80% of the worldwide orthopaedic market. We project that these companies will combine for $41 billion in 2018 revenue, +3% vs. 2017.

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November 15, 2018

3Q18 and 9 Month 2018 Performance Highlights for Public Companies

3Q18 and 9 Month 2018 Performance Highlights for Public Companies
Several companies noted increased case volume in the third quarter, likely driven by a strong U.S. economy leading to more widespread insurance coverage and patients able to pay for elective procedures. Sales results were mixed outside of the U.S., particularly in the EMEA region where reimbursement issues continue to be a challenge in the U.K. and Germany. Companies generally performed well, however, in emerging markets.

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November 15, 2018

Medartis: Profile of a Newly-Public Orthopaedic Company

Medartis went public on the SIX Swiss Exchange in March, securing proceeds to fund product development, international expansion and potential acquisitions. Their public launch provided deeper insight into the company's position within the global orthopaedic trauma space. We reviewed Medartis' 2017 and 2018 strategic announcements, and spoke with leadership to get a better sense of the company's recent and future movement.

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September 21, 2018

Joint Reconstruction Expected to Continue with Steady Growth

Joint Reconstruction Expected to Continue with Steady Growth
The 1H18 performance of companies that make up ~80% of the joint reconstruction market achieved 4.1% growth vs. 1H17. These companies posted 2.4% growth in 1H17 vs. 1H16. Here is a look at past activity and future predictions for hip, knee and extremities.

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August 22, 2018

Revenue Review: 1H18 Growth for Public Companies

Revenue Review: 1H18 Growth for Public Companies
The 21 companies we track collectively grew +3.6% in 1H18 vs. 1H17, still on pace to reach our estimates of +3.7% in orthopaedic industry growth for 2018 vs. 2017.

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August 22, 2018

Medtronic Reports 2Q18 Revenue

ORTHOWORLD estimates Medtronic's 2Q18 revenue at US $739.0MM, +1.8% vs. 2Q17, with 1H18 revenue of $1,526.0MM, +2.8% vs. 1H17.

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August 22, 2018

Spine Market Growth Expected to Remain at 2%

Spine accounts for 18% of the orthopaedic industry's overall revenue. In 2017, sales of spine products (excluding biologics) exceeded $9 billion worldwide, an increase of 2.2% vs. 2016, according to our estimates. The segment remains a story of large, differentiated companies losing market share to the players that derive the majority of their revenue from spine.

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August 10, 2018

Wright Medical Reports 2Q18 Revenue

Wright Medical reported 2Q18 revenue of US $205.4MM, +14.3% from 2Q17, and 1H18 revenue of $403.9MM, +13.2% vs. 1H17.

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August 10, 2018

OrthoPediatrics Announces 2Q18 Revenue

OrthoPediatrics posted 2Q18 revenue of US $15.1MM, +27.8% vs. 2Q17, and 1H18 revenue of $27.2MM, +26.0% vs. 1H17.

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August 8, 2018

DJO Posts 2Q18 Revenue

DJO Global posted 2Q18 revenue of US $304.8MM, +3.4% vs. 2Q17, and 1H18 revenue of $739.4MM, +5.0% vs. 1H17.

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August 8, 2018

Vericel Posts 2Q18 MACI Revenue Growth

For 2Q18, Vericel posted MACI orthobiologic revenue of US $14.1MM, +9.3% vs. 2Q17, with 1H18 revenue of $26.2MM, +46.3% vs. 1H17.

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August 8, 2018

Orthofix Reports 2Q18 Revenue

Orthofix posted 2Q18 revenue of US $111.5MM, +2.4% vs. 2Q17, with 1H18 revenue of $220.3MM, +4.1% vs. 1H17.

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August 6, 2018

Alphatec 2Q18 Revenue

Alphatec reported 2Q18 revenue of US $22.0MM, -9.8% vs. 2Q17, and 1H18 revenue of $43.4MM, -17.3% vs. 1H17.

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August 6, 2018

ConforMIS Posts 2Q18 Revenue

ConforMIS announced 2Q18 revenue of US $19.1MM, +3.3% vs. 2Q17, and 1H18 revenue of $38.8MM, -0.5% vs. 1H17.

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August 3, 2018

ConMed’s 2Q18 Orthopaedic Revenue

ConMed posted 2Q18 arthroscopy/soft tissue repair revenue of US $110.1MM, +4.3% vs. 2Q17, and 1H18 revenue of $219.0MM, +4.6% vs. 1H17.

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August 3, 2018

Globus Medical Reports 2Q18 Revenue

Globus Medical reported 2Q18 revenue of US $173.4MM, +13.8% vs. 2Q17, and 1H18 revenue of $347.8MM, +12.8% vs. 1H17.

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August 3, 2018

K2M Announces 2Q18 Revenue

K2M posted 2Q18 revenue of US $73.6MM, +12.0% vs. 2Q17, and 1H18 revenue of $141.5MM, +10.9% vs. 1H17.

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August 2, 2018

NuVasive 2Q18 Revenue +8.5% vs. 2Q17

NuVasive reported 2Q18 revenue of US $281.6MM, +8.5% vs. 2Q17, and 1H18 revenue of $542.1MM, +6.6% vs. 1H17.

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August 1, 2018

Zimmer Biomet Ortho Revenue +4% vs. 2Q17

ORTHOWORLD estimates Zimmer Biomet 2Q18 orthopaedic revenue of US $1,858.2MM, +3.5% vs. 2Q17, and 1H18 revenue of $3,714.8MM, +2.8% vs. 1H17.

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August 1, 2018

SeaSpine 2Q18 Revenue +7% vs. 2Q17

SeaSpine announced 2Q18 revenue of US $36.4MM, +6.5% vs. 2Q17, and 1H18 revenue of $69.6MM, +5.3% vs. 1H17. This is the company's highest quarterly growth rate since its spinoff from Integra LifeSciences in 2015.

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July 30, 2018

Integra LifeSciences Reports 2Q18 Revenue

ORTHOWORLD estimates Integra LifeSciences' 2Q18 orthopaedic revenue at US $30.4MM, -0.6% vs. 2Q17, and 1H18 revenue of $55.2MM, -2.5% vs. 1H17.

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July 27, 2018

Stryker Posts 2Q18 Revenue Growth of 8% YoY

ORTHOWORLD estimates Stryker's 2Q18 orthopaedic revenue at US $1,747.8MM, +8.0% from 2Q17, and 1H18 revenue at $3,472.6MM, +7.5% vs. 1H17. Trauma and Extremities Joint Recon remain high performers, with Interventional and Tritanium products contributing to strong spine segment growth.

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July 18, 2018

Arthroscopy/Soft Tissue Repair Market Ripe for 6% Growth

Sales from arthroscopy/soft tissue products in 2017 surpassed $5.3 billion and grew 6.2% vs. 2016, according to our estimates published in THE ORTHOPAEDIC INDUSTRY ANNUAL REPORT. The segment exceeded our projections, partially due to better-than-expected growth by players like DePuy Synthes, Stryker and Zimmer Biomet.

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June 21, 2018

Public Orthopaedic Companies: 1Q18 Revenue

Alongside their 1Q18 results, numerous players reaffirmed or updated their full-year revenue guidance. Globus Medical increased its numbers based on adoption of ExcelsiusGPS, K2M grew its range by $3MM following a distributor partnership and Orthofix upped guidance by about $9MM in acquisition-related contributions. After the quarters close, Wright Medical announced FDA premarket approval for AUGMENT injectable bone graft, and will update its full-year guidance in the 2Q18 call.

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May 31, 2018

Medtronic Revenue Grows 3.7%

ORTHOWORLD estimates Medtronic's FY4Q18 revenue at US $787.0MM, +3.7% vs. FY4Q17.

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May 24, 2018

Trauma Market Attracts New Players

Established orthopaedic players and startups alike seek to enter the trauma segment, and we think this dynamic will make trauma one of the more exciting markets to watch in coming years. Here's why.

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May 14, 2018

K2M Reports 1Q18 Revenue

K2M posted 1Q18 revenue of US $67.9MM, +9.6% vs. 1Q17, and increased its full-year guidance range to $283MM-$287MM following partnership with a distributor in Portugal and Spain.

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May 14, 2018

Globus Medical Posts 1Q18 Revenue

Globus Medical reported 1Q18 revenue of US $174.4MM, +11.9% vs. 1Q17, and raised its full-year guidance to $695MM, based on increased uptake of the ExcelsiusGPS robotic system. 

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May 3, 2018

Stryker Posts 1Q18 Revenue

ORTHOWORLD estimates Stryker's 1Q18 orthopaedic revenue at US $1,724.9MM, +7.0% from 1Q17. 

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April 20, 2018

Orthopaedic Industry Reaches $49 Billion in 2017

Orthopaedic industry revenue reached $49.3 billion worldwide in 2017 and grew at 3.7%, ~$1.7 billion over 2016, according to our estimates to be published in THE ORTHOPAEDIC INDUSTRY ANNUAL REPORT. In 2017, the 20 largest orthopaedic device companies-those with revenue above $200 million-posted growth. That's a statement we haven't made for at least the last three years, and one we think indicates positive momentum in orthopaedics. What fueled this growth? New product launches, acquisitions and international expansion were the most-cited contributors by company executives.

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March 15, 2018

DJO Posts 4Q17, 2017 Revenue

DJO Global posted 4Q17 revenue of US $312.2MM, +5.3% vs. 4Q16, and 2017 revenue of $1,186.1MM, +2.7% vs. 2016.

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