Revenue Report

May 31, 2022

Medtronic Marks One Year of Transformation

Medtronic Marks One Year of Transformation
The company's renewed focus on competitiveness and market share paid off in its fiscal year 2022, as Medtronic grew in the mid-single digits.

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May 17, 2022

Treace Benefits from Commercial Investments

Treace Benefits from Commercial Investments
The company grew more than 55% in 1Q22 on the strength of its narrow procedure focus and expanding direct sales force.
March 4, 2022

Movmedix Provides Business Update

Movmedix Provides Business Update
The developer of the LARS artificial ligament reached the milestone of 30 years in business.
March 3, 2022

ATEC Sets Sights on Decade of Supremacy

ATEC Sets Sights on Decade of Supremacy
The company grew nearly 70% in 2021, making it one of the premier growth stories in medtech. ATEC is bullish on its future prospects.

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March 1, 2022

Vericel Plans for Decade of Growth

Vericel Plans for Decade of Growth
The company grew almost 19% in 2021 while playing plans to expand production capacity and expand MACI's indication to the ankle.

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February 24, 2022

NuVasive Ready to Grow Beyond XLIF Roots

NuVasive Ready to Grow Beyond XLIF Roots
The company grew in the high single-digits in 2021 and is ready to expand into other areas of spine as it becomes a comprehensive player.

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February 23, 2022

DJO Primed for Growth Heading into 2022

DJO Primed for Growth Heading into 2022
The company grew +49% in 2021 as it continued integrating its recent acquisitions ahead of its spin-off as Enovis at the end of 1Q22.

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January 28, 2022

Stryker Enters 2022 With Momentum

Stryker Enters 2022 With Momentum
Stryker reported 4Q21 orthopedic sales of $2.4 billion, +13.8% vs. 4Q20. For the full year of 2021, the company's orthopedic sales totaled $8.9 billion, +24.7% vs. 2020. We estimate Stryker's organic growth vs. 2019 was in the low single digits. The company's Mako robotic system remains a powerful growth driver as it approaches an install […]

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November 5, 2021

Zimmer Biomet Prepares for Longer Downturn

Zimmer Biomet Prepares for Longer Downturn
The company's 3Q21 orthopedic sales declined -0.5% due to procedure delays, staffing shortages and larger-than-expected impact from China.

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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.