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Smith+Nephew reported 1Q22 orthopedic sales of $916.2 million, +2% vs. 1Q21.
New CEO Deepak Nath is less than a month into his tenure and deferred any substantive remarks until the company’s second-half earnings. However, he did commit to Smith+Nephew’s strategic goals of strengthening the supply chain, accelerating growth while maintaining profitability and transforming long-term growth through acquisitions and innovation. The company expects to achieve consistent +4% to +6% organic growth by 2024.
The orthopedic market recovered faster than expected in the first quarter, helping Smith+Nephew stabilize its orthopedic business. Its knee replacement franchise grew in the mid-single-digits, but remains well below 2019 levels. However, the rollout of the company’s cementless partial knee along with CORI’s recent approval for use with cementless should further bolster this segment.
The delay of China’s volume-based purchasing policy for knee and hip implants to the second quarter helped offset the worsening COVID outbreak there.
The decline in the company’s trauma business came as a mild surprise, and Smith+Nephew leadership attributed it to mixed performance across regions and product categories. The integration of Integra LifeSciences’ extremity products is ongoing.
For the full year 2022, Smith+Nephew expects underlying growth between +4% and +5%. This guidance assumes no material disruption from COVID, but ongoing supply chain and inflationary headwinds.
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
| 1Q22 | 1Q21 | $ Chg | % Chg | |
|---|---|---|---|---|
| Joint Replacement | $417.6 | $408.9 | $8.7 | 2.1% |
| Knees | $251.0 | $237.0 | $14.0 | 5.9% |
| Hips | $149.0 | $154.0 | ($5.0) | (3.2%) |
| Extremities | $17.6 | $17.9 | ($0.3) | (1.4%) |
| Trauma | $123.4 | $131.1 | ($7.7) | (5.9%) |
| Sports Medicine | $361.0 | $344.0 | $17.0 | 4.9% |
| Orthobiologics | $14.2 | $13.9 | $0.2 | 1.7% |
| Total | $916.2 | $897.9 | $18.2 | 2% |
Orthopedic Sales by Geography
| 1Q22 | 1Q21 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $462.3 | $454.6 | $7.6 | 1.7% |
| OUS | $453.9 | $443.3 | $10.6 | 2.4% |
| EMEA | $243.7 | $245.8 | ($2.0) | (0.8%) |
| Asia Pacific | $102.2 | $106.0 | ($3.8) | (3.6%) |
| Rest of World | $107.9 | $91.5 | $16.4 | 17.9% |
| Total | $916.2 | $897.9 | $18.2 | 2% |
Mike Evers is ORTHOWORLD’s Digital Content Strategist. He can be reached by email.
Smith+Nephew reported 1Q22 orthopedic sales of $916.2 million, +2% vs. 1Q21.
New CEO Deepak Nath is less than a month into his tenure and deferred any substantive remarks until the company's second-half earnings. However, he did commit to Smith+Nephew's strategic goals of strengthening the supply chain, accelerating growth while maintaining...
Smith+Nephew reported 1Q22 orthopedic sales of $916.2 million, +2% vs. 1Q21.
New CEO Deepak Nath is less than a month into his tenure and deferred any substantive remarks until the company’s second-half earnings. However, he did commit to Smith+Nephew’s strategic goals of strengthening the supply chain, accelerating growth while maintaining profitability and transforming long-term growth through acquisitions and innovation. The company expects to achieve consistent +4% to +6% organic growth by 2024.
The orthopedic market recovered faster than expected in the first quarter, helping Smith+Nephew stabilize its orthopedic business. Its knee replacement franchise grew in the mid-single-digits, but remains well below 2019 levels. However, the rollout of the company’s cementless partial knee along with CORI’s recent approval for use with cementless should further bolster this segment.
The delay of China’s volume-based purchasing policy for knee and hip implants to the second quarter helped offset the worsening COVID outbreak there.
The decline in the company’s trauma business came as a mild surprise, and Smith+Nephew leadership attributed it to mixed performance across regions and product categories. The integration of Integra LifeSciences’ extremity products is ongoing.
For the full year 2022, Smith+Nephew expects underlying growth between +4% and +5%. This guidance assumes no material disruption from COVID, but ongoing supply chain and inflationary headwinds.
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
| 1Q22 | 1Q21 | $ Chg | % Chg | |
|---|---|---|---|---|
| Joint Replacement | $417.6 | $408.9 | $8.7 | 2.1% |
| Knees | $251.0 | $237.0 | $14.0 | 5.9% |
| Hips | $149.0 | $154.0 | ($5.0) | (3.2%) |
| Extremities | $17.6 | $17.9 | ($0.3) | (1.4%) |
| Trauma | $123.4 | $131.1 | ($7.7) | (5.9%) |
| Sports Medicine | $361.0 | $344.0 | $17.0 | 4.9% |
| Orthobiologics | $14.2 | $13.9 | $0.2 | 1.7% |
| Total | $916.2 | $897.9 | $18.2 | 2% |
Orthopedic Sales by Geography
| 1Q22 | 1Q21 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $462.3 | $454.6 | $7.6 | 1.7% |
| OUS | $453.9 | $443.3 | $10.6 | 2.4% |
| EMEA | $243.7 | $245.8 | ($2.0) | (0.8%) |
| Asia Pacific | $102.2 | $106.0 | ($3.8) | (3.6%) |
| Rest of World | $107.9 | $91.5 | $16.4 | 17.9% |
| Total | $916.2 | $897.9 | $18.2 | 2% |
Mike Evers is ORTHOWORLD’s Digital Content Strategist. He can be reached by email.
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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.
