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Smith+Nephew Segment Performance
Our chart of the month shows Smith+Nephew’s segment performance from 2016 through 2024. Large joint encompasses Knees, Hips and the Other category which houses, among other things, CORI robotics. Sports Medicine is inclusive of both Joint Repair and Arthroscopic Enabling Technology.
In December 2021, Smith+Nephew announced its Strategy for Growth to strengthen its foundations, accelerate profitability and transform the company for longer-term higher growth.
As part of that strategy, the company undertook its 12-Point Plan to fix its orthopedics franchise, improve productivity and accelerate growth in sports medicine.
Thus far, Smith+Nephew drove encouraging results through its improvement plan. But even with the better performance, some disgruntled investors called for the company to divest its orthopedic product lines.
To be fair, the company’s joint replacement results are subpar compared to its peers, especially considering the elevated growth rates in that segment over the last two years. Both knees and hips have a CAGR under 0.5% since 2016 and under 3% since 2022. However, adoption of the CORI ecosystem has been a bright spot for the company.
The Trauma and Extremity segment was essentially flat from 2016 to 2020, but has since gained traction. With a CAGR of 5.8% since 2022, its growth is in line with overall market growth for those segments.
Smith+Nephew’s combined sports medicine franchise has a CAGR of 6% since 2022, and it benefitted greatly from new arthroscopic enabling technology products. However, two rounds of volume-based procurement on sports medicine products in China will be a headwind for the company for the next few years.
Smith+Nephew’s 12-point Plan is working, no doubt about it. Is it working fast enough for the company to remain competitive at the top of the orthopedic market? We’ll learn a lot about the answer to that question in 2025.
Smith+Nephew Segment Performance
Our chart of the month shows Smith+Nephew's segment performance from 2016 through 2024. Large joint encompasses Knees, Hips and the Other category which houses, among other things, CORI robotics. Sports Medicine is inclusive of both Joint Repair and Arthroscopic Enabling Technology.
In December 2021,...
Smith+Nephew Segment Performance
Our chart of the month shows Smith+Nephew’s segment performance from 2016 through 2024. Large joint encompasses Knees, Hips and the Other category which houses, among other things, CORI robotics. Sports Medicine is inclusive of both Joint Repair and Arthroscopic Enabling Technology.
In December 2021, Smith+Nephew announced its Strategy for Growth to strengthen its foundations, accelerate profitability and transform the company for longer-term higher growth.
As part of that strategy, the company undertook its 12-Point Plan to fix its orthopedics franchise, improve productivity and accelerate growth in sports medicine.
Thus far, Smith+Nephew drove encouraging results through its improvement plan. But even with the better performance, some disgruntled investors called for the company to divest its orthopedic product lines.
To be fair, the company’s joint replacement results are subpar compared to its peers, especially considering the elevated growth rates in that segment over the last two years. Both knees and hips have a CAGR under 0.5% since 2016 and under 3% since 2022. However, adoption of the CORI ecosystem has been a bright spot for the company.
The Trauma and Extremity segment was essentially flat from 2016 to 2020, but has since gained traction. With a CAGR of 5.8% since 2022, its growth is in line with overall market growth for those segments.
Smith+Nephew’s combined sports medicine franchise has a CAGR of 6% since 2022, and it benefitted greatly from new arthroscopic enabling technology products. However, two rounds of volume-based procurement on sports medicine products in China will be a headwind for the company for the next few years.
Smith+Nephew’s 12-point Plan is working, no doubt about it. Is it working fast enough for the company to remain competitive at the top of the orthopedic market? We’ll learn a lot about the answer to that question in 2025.
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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.
