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Medartis reported 2H22 orthopedic sales of CHF 108.7 million ($118.5 million USD), +15.2% compared to the second half of 2022. The company generated CHF 212 million ($231.1 million USD) in orthopedic sales in 2023, growing 16% compared to the prior year.
The company demonstrated strength across three of its four sales regions in 2023. The rollout and remarkable success of KeriMedical products in the EMEA region helped Medartis pass the $100 million milestone there for the first time. Lower extremity sales surged 41% in EMEA and represent an area of strategic importance and focus for the company.
Sales in the U.S. grew more than 26% in 2023, with a quarter of all sales coming from new sales agents who joined Medartis within the last two years. The company reported strong demand for foot and ankle, wrist and hand products. Medartis plans to grow its U.S. sales to $80 million annually by 2025.
Sales in the APAC region declined slightly due to unfavorable currency translation and price cuts in the Australian market. Japan was a strength for the company in 2023, where it achieved double-digit growth in lower extremities.
Medartis expects sales growth in the mid-teens for 2024.
Orthopedic Sales Data
All orthopedic sales data is provided in USD millions unless otherwise noted. We estimate orthopedic sales and growth rates on an as-reported basis.
Orthopedic Sales by Segment
| 2H23 | 2H22 | $ Chg | % Chg | |
|---|---|---|---|---|
| Trauma | $96.8 | $84.5 | $12.2 | 14.5% |
| Other (CMF) | $21.7 | $18.3 | $3.4 | 18.5% |
| Total | $118.5 | $102.8 | $15.6 | 15.2% |
| FY23 | FY22 | $ Chg | % Chg | |
|---|---|---|---|---|
| Trauma | $188.2 | $165.7 | $22.5 | 13.6% |
| Other (CMF) | $42.9 | $33.6 | $9.3 | 27.8% |
| Total | $231.1 | $199.3 | $31.8 | 16% |
Orthopedic Sales by Geography
| 2H23 | 2H22 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $28.8 | $24.7 | $4.0 | 16.3% |
| OUS | $89.7 | $78.1 | $11.6 | 14.9% |
| EMEA | $59.9 | $50.1 | $9.8 | 19.5% |
| APAC | $17.1 | $17.6 | ($0.6) | (3.1%) |
| ROW | $12.7 | $10.3 | $2.4 | 23.1% |
| Total | $118.5 | $102.8 | $15.6 | 15.2% |
| FY23 | FY22 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $56.5 | $44.7 | $11.9 | 26.5% |
| OUS | $174.5 | $154.6 | $20.0 | 12.9% |
| EMEA | $116.0 | $99.6 | $16.4 | 16.5% |
| APAC | $34.3 | $35.0 | ($0.7) | (1.9%) |
| ROW | $24.2 | $19.9 | $4.2 | 21.2% |
| Total | $231.1 | $199.3 | $31.8 | 16% |
Medartis reported 2H22 orthopedic sales of CHF 108.7 million ($118.5 million USD), +15.2% compared to the second half of 2022. The company generated CHF 212 million ($231.1 million USD) in orthopedic sales in 2023, growing 16% compared to the prior year.
The company demonstrated strength across three of its four sales regions in 2023. The...
Medartis reported 2H22 orthopedic sales of CHF 108.7 million ($118.5 million USD), +15.2% compared to the second half of 2022. The company generated CHF 212 million ($231.1 million USD) in orthopedic sales in 2023, growing 16% compared to the prior year.
The company demonstrated strength across three of its four sales regions in 2023. The rollout and remarkable success of KeriMedical products in the EMEA region helped Medartis pass the $100 million milestone there for the first time. Lower extremity sales surged 41% in EMEA and represent an area of strategic importance and focus for the company.
Sales in the U.S. grew more than 26% in 2023, with a quarter of all sales coming from new sales agents who joined Medartis within the last two years. The company reported strong demand for foot and ankle, wrist and hand products. Medartis plans to grow its U.S. sales to $80 million annually by 2025.
Sales in the APAC region declined slightly due to unfavorable currency translation and price cuts in the Australian market. Japan was a strength for the company in 2023, where it achieved double-digit growth in lower extremities.
Medartis expects sales growth in the mid-teens for 2024.
Orthopedic Sales Data
All orthopedic sales data is provided in USD millions unless otherwise noted. We estimate orthopedic sales and growth rates on an as-reported basis.
Orthopedic Sales by Segment
| 2H23 | 2H22 | $ Chg | % Chg | |
|---|---|---|---|---|
| Trauma | $96.8 | $84.5 | $12.2 | 14.5% |
| Other (CMF) | $21.7 | $18.3 | $3.4 | 18.5% |
| Total | $118.5 | $102.8 | $15.6 | 15.2% |
| FY23 | FY22 | $ Chg | % Chg | |
|---|---|---|---|---|
| Trauma | $188.2 | $165.7 | $22.5 | 13.6% |
| Other (CMF) | $42.9 | $33.6 | $9.3 | 27.8% |
| Total | $231.1 | $199.3 | $31.8 | 16% |
Orthopedic Sales by Geography
| 2H23 | 2H22 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $28.8 | $24.7 | $4.0 | 16.3% |
| OUS | $89.7 | $78.1 | $11.6 | 14.9% |
| EMEA | $59.9 | $50.1 | $9.8 | 19.5% |
| APAC | $17.1 | $17.6 | ($0.6) | (3.1%) |
| ROW | $12.7 | $10.3 | $2.4 | 23.1% |
| Total | $118.5 | $102.8 | $15.6 | 15.2% |
| FY23 | FY22 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $56.5 | $44.7 | $11.9 | 26.5% |
| OUS | $174.5 | $154.6 | $20.0 | 12.9% |
| EMEA | $116.0 | $99.6 | $16.4 | 16.5% |
| APAC | $34.3 | $35.0 | ($0.7) | (1.9%) |
| ROW | $24.2 | $19.9 | $4.2 | 21.2% |
| Total | $231.1 | $199.3 | $31.8 | 16% |
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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.
