Orthopedic surgical volumes climbed steadily over the last several quarters while supply constraints and staffing issues have improved more slowly. Still, it feels as though elective procedures are reliably “back” in most global markets.
Our chart for the month shows first-half orthopedic sales for players with over $1 billion in annual revenue. As a reminder, these companies comprise about two-thirds of the entire orthopedic market. The top four companies – Stryker, DePuy Synthes, Zimmer Biomet and Smith+Nephew – have massive presences in joint replacement, where the volume rebound is greatest.
As a group, these companies grew just over 7% compared to last year’s first-half sales, with standout performances from Stryker (+11%), Zimmer Biomet (+7%) and Globus Medical (+15%). How durable is the tailwind? Stryker expects elevated procedure demand to persist into 2024.
“We’ve talked about this since the third quarter of last year,” said Stryker CEO Kevin Lobo. “We have a good sense based on surgery backlogs, talking to physicians and seeing that there was pent-up demand through the pandemic. That gives us confidence that through the end of this year and into next year, we’re going to continue to see elevated procedural growth.”
Orthopedic surgical volumes climbed steadily over the last several quarters while supply constraints and staffing issues have improved more slowly. Still, it feels as though elective procedures are reliably “back” in most global markets.
Our chart for the month shows first-half orthopedic sales for players with over $1 billion in annual...
Orthopedic surgical volumes climbed steadily over the last several quarters while supply constraints and staffing issues have improved more slowly. Still, it feels as though elective procedures are reliably “back” in most global markets.
Our chart for the month shows first-half orthopedic sales for players with over $1 billion in annual revenue. As a reminder, these companies comprise about two-thirds of the entire orthopedic market. The top four companies – Stryker, DePuy Synthes, Zimmer Biomet and Smith+Nephew – have massive presences in joint replacement, where the volume rebound is greatest.
As a group, these companies grew just over 7% compared to last year’s first-half sales, with standout performances from Stryker (+11%), Zimmer Biomet (+7%) and Globus Medical (+15%). How durable is the tailwind? Stryker expects elevated procedure demand to persist into 2024.
“We’ve talked about this since the third quarter of last year,” said Stryker CEO Kevin Lobo. “We have a good sense based on surgery backlogs, talking to physicians and seeing that there was pent-up demand through the pandemic. That gives us confidence that through the end of this year and into next year, we’re going to continue to see elevated procedural growth.”
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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.