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Smith+Nephew reported 2Q24 orthopedic sales of $976.3 million, up 5.2% from the second quarter of 2023. For the first half, the company generated $1,936.6 million, up 4.5% from the first half of last year.
Within sports medicine, the company got key contributions from its knee repair portfolio and REGENETEN. Early cohorts of sales reps have completed training with AGILI-C and are building outpatient and surgeon access. The company called AGILI-C one of its “next-generation” growth drivers.
Sales of arthroscopic enabling technology bounced back with strong video and radiofrequency sales.
Smith+Nephew’s trauma and extremities business provided a significant portion of its orthopedics growth. The EVOS Plating System drove core trauma, while the AETOS shoulder increased its contribution as the company deployed more sets.
Joint replacement sales remain slowed in the U.S., but the company is convinced it has the right plan in place, given thet portfolio’s success outside the U.S.
The company said its CORI robotic system has gone from a new challenger to a leading system. The June launch of CORIOGRAPH added pre-operative planning and modeling to the system. Since 2022, Smith+Nephew added 10 new features to CORI and grew the system’s install base by 70%.
“What I’m particularly encouraged by is actually the resonance that it’s having across a range of care settings,” said Smith+Nephew CEO Deepak Nath. “Not only in the ASCs and regular-sized hospitals, but it’s also in the academic medical centers. We haven’t necessarily been strong in AMCs. I’m particularly pleased that we’re getting traction in that segment.”
After its strong second quarter, Smith+Nephew reiterated its 2024 guidance of underlying total growth between 5% and 6%.
Orthopedic Sales Data
Unless otherwise noted, all orthopedic sales data is provided in USD millions. We estimate orthopedic sales and growth rates on an as-reported basis.
Orthopedic Sales by Segment
| Segment | 2Q24 | 2Q23 | $ Chg | % Chg |
|---|---|---|---|---|
| Joint Replacement | $419.4 | $410.9 | $8.5 | 2.1% |
| Knees | $242.3 | $239.7 | $2.6 | 1.1% |
| Hips | $157.5 | $153.1 | $4.4 | 2.9% |
| Extremities | $19.6 | $18.2 | $1.4 | 7.6% |
| Trauma | $133.3 | $119.0 | $14.3 | 12% |
| Sports Medicine | $395.1 | $373.8 | $21.3 | 5.7% |
| Enabling Technology | $28.6 | $24.4 | $4.2 | 17.1% |
| Total | $976.3 | $928.1 | $48.2 | 5.2% |
| Segment | 1H24 | 1H23 | $ Chg | % Chg |
|---|---|---|---|---|
| Joint Replacement | $835.2 | $819.5 | $15.8 | 1.9% |
| Knees | $482.8 | $477.6 | $5.3 | 1.1% |
| Hips | $313.4 | $305.6 | $7.8 | 2.6% |
| Extremities | $39.0 | $36.3 | $2.7 | 7.5% |
| Trauma | $260.3 | $237.4 | $22.9 | 9.6% |
| Sports Medicine | $787.9 | $751.1 | $36.9 | 4.9% |
| Enabling Technology | $53.1 | $45.3 | $7.8 | 17.2% |
| Total | $1,936.6 | $1,853.3 | $83.3 | 4.5% |
Orthopedic Sales by Geography
| Region | 2Q24 | 2Q23 | $ Chg | % Chg |
|---|---|---|---|---|
| US | $514.9 | $494.0 | $20.9 | 4.2% |
| OUS | $461.4 | $434.1 | $27.3 | 6.3% |
| EMEA | $245.3 | $233.3 | $12.1 | 5.2% |
| Asia Pacific | $102.1 | $95.0 | $7.1 | 7.5% |
| Rest of World | $114.0 | $105.9 | $8.2 | 7.7% |
| Total | $976.3 | $928.1 | $48.2 | 5.2% |
Company Earnings
| Region | 1H24 | 1H23 | $ Chg | % Chg |
|---|---|---|---|---|
| US | $1,014.3 | $996.8 | $17.4 | 1.7% |
| OUS | $922.3 | $856.4 | $65.9 | 7.7% |
| EMEA | $494.3 | $467.6 | $26.7 | 5.7% |
| Asia Pacific | $201.1 | $183.1 | $18.1 | 9.9% |
| Rest of World | $226.9 | $205.8 | $21.1 | 10.3% |
| Total | $1,936.6 | $1,853.3 | $83.3 | 4.5% |
Smith+Nephew reported 2Q24 orthopedic sales of $976.3 million, up 5.2% from the second quarter of 2023. For the first half, the company generated $1,936.6 million, up 4.5% from the first half of last year.
Within sports medicine, the company got key contributions from its knee repair portfolio and REGENETEN. Early cohorts of sales reps...
Smith+Nephew reported 2Q24 orthopedic sales of $976.3 million, up 5.2% from the second quarter of 2023. For the first half, the company generated $1,936.6 million, up 4.5% from the first half of last year.
Within sports medicine, the company got key contributions from its knee repair portfolio and REGENETEN. Early cohorts of sales reps have completed training with AGILI-C and are building outpatient and surgeon access. The company called AGILI-C one of its “next-generation” growth drivers.
Sales of arthroscopic enabling technology bounced back with strong video and radiofrequency sales.
Smith+Nephew’s trauma and extremities business provided a significant portion of its orthopedics growth. The EVOS Plating System drove core trauma, while the AETOS shoulder increased its contribution as the company deployed more sets.
Joint replacement sales remain slowed in the U.S., but the company is convinced it has the right plan in place, given thet portfolio’s success outside the U.S.
The company said its CORI robotic system has gone from a new challenger to a leading system. The June launch of CORIOGRAPH added pre-operative planning and modeling to the system. Since 2022, Smith+Nephew added 10 new features to CORI and grew the system’s install base by 70%.
“What I’m particularly encouraged by is actually the resonance that it’s having across a range of care settings,” said Smith+Nephew CEO Deepak Nath. “Not only in the ASCs and regular-sized hospitals, but it’s also in the academic medical centers. We haven’t necessarily been strong in AMCs. I’m particularly pleased that we’re getting traction in that segment.”
After its strong second quarter, Smith+Nephew reiterated its 2024 guidance of underlying total growth between 5% and 6%.
Orthopedic Sales Data
Unless otherwise noted, all orthopedic sales data is provided in USD millions. We estimate orthopedic sales and growth rates on an as-reported basis.
Orthopedic Sales by Segment
| Segment | 2Q24 | 2Q23 | $ Chg | % Chg |
|---|---|---|---|---|
| Joint Replacement | $419.4 | $410.9 | $8.5 | 2.1% |
| Knees | $242.3 | $239.7 | $2.6 | 1.1% |
| Hips | $157.5 | $153.1 | $4.4 | 2.9% |
| Extremities | $19.6 | $18.2 | $1.4 | 7.6% |
| Trauma | $133.3 | $119.0 | $14.3 | 12% |
| Sports Medicine | $395.1 | $373.8 | $21.3 | 5.7% |
| Enabling Technology | $28.6 | $24.4 | $4.2 | 17.1% |
| Total | $976.3 | $928.1 | $48.2 | 5.2% |
| Segment | 1H24 | 1H23 | $ Chg | % Chg |
|---|---|---|---|---|
| Joint Replacement | $835.2 | $819.5 | $15.8 | 1.9% |
| Knees | $482.8 | $477.6 | $5.3 | 1.1% |
| Hips | $313.4 | $305.6 | $7.8 | 2.6% |
| Extremities | $39.0 | $36.3 | $2.7 | 7.5% |
| Trauma | $260.3 | $237.4 | $22.9 | 9.6% |
| Sports Medicine | $787.9 | $751.1 | $36.9 | 4.9% |
| Enabling Technology | $53.1 | $45.3 | $7.8 | 17.2% |
| Total | $1,936.6 | $1,853.3 | $83.3 | 4.5% |
Orthopedic Sales by Geography
| Region | 2Q24 | 2Q23 | $ Chg | % Chg |
|---|---|---|---|---|
| US | $514.9 | $494.0 | $20.9 | 4.2% |
| OUS | $461.4 | $434.1 | $27.3 | 6.3% |
| EMEA | $245.3 | $233.3 | $12.1 | 5.2% |
| Asia Pacific | $102.1 | $95.0 | $7.1 | 7.5% |
| Rest of World | $114.0 | $105.9 | $8.2 | 7.7% |
| Total | $976.3 | $928.1 | $48.2 | 5.2% |
Company Earnings
| Region | 1H24 | 1H23 | $ Chg | % Chg |
|---|---|---|---|---|
| US | $1,014.3 | $996.8 | $17.4 | 1.7% |
| OUS | $922.3 | $856.4 | $65.9 | 7.7% |
| EMEA | $494.3 | $467.6 | $26.7 | 5.7% |
| Asia Pacific | $201.1 | $183.1 | $18.1 | 9.9% |
| Rest of World | $226.9 | $205.8 | $21.1 | 10.3% |
| Total | $1,936.6 | $1,853.3 | $83.3 | 4.5% |
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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.
