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NuVasive reported 2Q22 orthopedic sales of $310.5 million, +5.3% vs. 2Q21.
While facing the same macroeconomic pressures as its peers, NuVasive saw procedure volumes increase and a surge in demand for its products. Much of that volume growth came in areas where the company had little to no prior business, like cervical. NuVasive leadership otherwise described the market as choppy in the second quarter, with a week-to-week variation.
The company grew its cervical sales by more than 20% for the third quarter in a row and continued growth in its X360 portfolio. NuVasive’s Specialized Orthopedic line contributed to international growth, driven by demand for PRECICE System titanium products that returned to the market in 2021. The company’s biologics business slipped on a case mix and lower attachment rates in the second quarter.
NuVasive achieved multiple milestones for the Pulse system in the quarter including over 100 cases in early sites, the first Pulse case in Italy as well as the first Pulse case for pediatric scoliosis. Leadership did not have any news to report on the development of Pulse’s robotic module, but look forward to future extending the system to cover the entire patient journey.
NuVasive CEO Chris Barry said, “The future spine surgery will not be solved with a new interbody or procedure. It will be defined by improving patient selection, selecting the right procedure in the most appropriate surgical setting, creating a patient-specific surgical plan, utilizing and enabling technology for inoperative execution and enabling postoperative outcomes management for the patient, the surgeon and provider. As a company, this is our focus.”
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
| 2Q22 | 2Q21 | $ Chg | % Chg | |
|---|---|---|---|---|
| Spine | $273.3 | $258.2 | $15.2 | 5.9% |
| Trauma | $13.0 | $12.4 | $0.6 | 5.2% |
| Orthobiologics | $24.1 | $24.3 | ($0.2) | (0.7%) |
| Total | $310.5 | $294.8 | $15.6 | 5.3% |
| 1H22 | 1H21 | $ Chg | % Chg | |
|---|---|---|---|---|
| Spine | $529.9 | $496.3 | $33.6 | 6.8% |
| Trauma | $24.1 | $22.8 | $1.2 | 5.5% |
| Orthobiologics | $47.2 | $47.0 | $0.2 | 0.5% |
| Total | $601.2 | $566.1 | $35.1 | 6.2% |
Orthopedic Sales by Geography
| 2Q22 | 2Q21 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $238.3 | $229.5 | $8.8 | 3.8% |
| OUS | $72.1 | $65.3 | $6.8 | 10.4% |
| EMEA | $47.3 | $42.4 | $4.9 | 11.4% |
| Asia Pacific | $18.4 | $17.0 | $1.4 | 8.3% |
| Rest of World | $6.4 | $5.9 | $0.5 | 9.2% |
| Total | $310.5 | $294.8 | $15.6 | 5.3% |
| 1H22 | 1H21 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $459.2 | $437.6 | $21.5 | 4.9% |
| OUS | $142.0 | $128.5 | $13.6 | 10.6% |
| EMEA | $93.1 | $83.5 | $9.6 | 11.5% |
| Asia Pacific | $36.6 | $33.4 | $3.2 | 9.5% |
| Rest of World | $12.4 | $11.6 | $0.8 | 6.9% |
| Total | $601.2 | $566.1 | $35.1 | 6.2% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $310.5 | |
| Cost of Sales | $85.8 | 27.6% |
| R & D | $160.7 | 51.8% |
| Selling and Admin | $25.9 | 8.3% |
| Other | $39.0 | 12.6% |
| Net Earnings | ($0.9) | (0.3%) |
NuVasive reported 2Q22 orthopedic sales of $310.5 million, +5.3% vs. 2Q21.
While facing the same macroeconomic pressures as its peers, NuVasive saw procedure volumes increase and a surge in demand for its products. Much of that volume growth came in areas where the company had little to no prior business, like cervical. NuVasive leadership...
NuVasive reported 2Q22 orthopedic sales of $310.5 million, +5.3% vs. 2Q21.
While facing the same macroeconomic pressures as its peers, NuVasive saw procedure volumes increase and a surge in demand for its products. Much of that volume growth came in areas where the company had little to no prior business, like cervical. NuVasive leadership otherwise described the market as choppy in the second quarter, with a week-to-week variation.
The company grew its cervical sales by more than 20% for the third quarter in a row and continued growth in its X360 portfolio. NuVasive’s Specialized Orthopedic line contributed to international growth, driven by demand for PRECICE System titanium products that returned to the market in 2021. The company’s biologics business slipped on a case mix and lower attachment rates in the second quarter.
NuVasive achieved multiple milestones for the Pulse system in the quarter including over 100 cases in early sites, the first Pulse case in Italy as well as the first Pulse case for pediatric scoliosis. Leadership did not have any news to report on the development of Pulse’s robotic module, but look forward to future extending the system to cover the entire patient journey.
NuVasive CEO Chris Barry said, “The future spine surgery will not be solved with a new interbody or procedure. It will be defined by improving patient selection, selecting the right procedure in the most appropriate surgical setting, creating a patient-specific surgical plan, utilizing and enabling technology for inoperative execution and enabling postoperative outcomes management for the patient, the surgeon and provider. As a company, this is our focus.”
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
| 2Q22 | 2Q21 | $ Chg | % Chg | |
|---|---|---|---|---|
| Spine | $273.3 | $258.2 | $15.2 | 5.9% |
| Trauma | $13.0 | $12.4 | $0.6 | 5.2% |
| Orthobiologics | $24.1 | $24.3 | ($0.2) | (0.7%) |
| Total | $310.5 | $294.8 | $15.6 | 5.3% |
| 1H22 | 1H21 | $ Chg | % Chg | |
|---|---|---|---|---|
| Spine | $529.9 | $496.3 | $33.6 | 6.8% |
| Trauma | $24.1 | $22.8 | $1.2 | 5.5% |
| Orthobiologics | $47.2 | $47.0 | $0.2 | 0.5% |
| Total | $601.2 | $566.1 | $35.1 | 6.2% |
Orthopedic Sales by Geography
| 2Q22 | 2Q21 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $238.3 | $229.5 | $8.8 | 3.8% |
| OUS | $72.1 | $65.3 | $6.8 | 10.4% |
| EMEA | $47.3 | $42.4 | $4.9 | 11.4% |
| Asia Pacific | $18.4 | $17.0 | $1.4 | 8.3% |
| Rest of World | $6.4 | $5.9 | $0.5 | 9.2% |
| Total | $310.5 | $294.8 | $15.6 | 5.3% |
| 1H22 | 1H21 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $459.2 | $437.6 | $21.5 | 4.9% |
| OUS | $142.0 | $128.5 | $13.6 | 10.6% |
| EMEA | $93.1 | $83.5 | $9.6 | 11.5% |
| Asia Pacific | $36.6 | $33.4 | $3.2 | 9.5% |
| Rest of World | $12.4 | $11.6 | $0.8 | 6.9% |
| Total | $601.2 | $566.1 | $35.1 | 6.2% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $310.5 | |
| Cost of Sales | $85.8 | 27.6% |
| R & D | $160.7 | 51.8% |
| Selling and Admin | $25.9 | 8.3% |
| Other | $39.0 | 12.6% |
| Net Earnings | ($0.9) | (0.3%) |
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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.
