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Smith+Nephew reported 3Q25 orthopedic sales of $988.8 million, up 5.8% compared to the third quarter of 2024. For the first nine months of the year, the company generated $2.9 billion, up 4.4% compared to the prior period.
For the third quarter, joint replacement performance was mixed. U.S. hips had a strong showing, while U.S. knees were softer. Outside the U.S., hips were slower while knees performed well. Smith+Nephew’s U.S. knee replacement sales were hampered by ongoing portfolio rationalization efforts that resulted in volume loss.
However, the third quarter brought significant strength in the number of CORI placements, although deals skewed more heavily away from outright purchases.
“I’m particularly encouraged by where we’re placing CORI,” said Smith+Nephew CEO Deepak Nath. “Teaching institutions where historically, we’ve been somewhat under-indexed and there’s quite a bit of effort we’ve put into strengthening our presence which has been good to see. Our placements into ASCs have also been very, very encouraging. Where we placed CORI, we see above market levels of utilization and where we also placed CORI, we see great uptake. So all of those are very encouraging.”
The company saw acceleration over first half results in both trauma and shoulder, driven by the EVOS plating system and AETOS shoulder. The TRIGEN MAX Tibia Nailing System contributed to U.S. growth ahead of expectations.
The impact of volume-based procurement is abating on sports medicine joint pair products, but new tenders on arthroscopic enabling technologies are looming. Smith+Nephew said it is committed to creating a sustainable, profitable business in China and will evaluate its presence there on a segment-by-segment basis.
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 | 3Q25 | 3Q24 | $ Chg | % Chg |
|---|---|---|---|---|
| Joint Replacement | $411.6 | $396.7 | $14.9 | 3.8% |
| Knees | $237.1 | $231.1 | $6.0 | 2.6% |
| Hips | $153.4 | $146.4 | $7.0 | 4.8% |
| Extremities | $21.2 | $19.2 | $2.0 | 10.3% |
| Trauma | $138.7 | $128.6 | $10.1 | 7.9% |
| Sports Medicine | $411.6 | $386.1 | $25.5 | 6.6% |
| Enabling Technology | $26.9 | $23.7 | $3.2 | 13.6% |
| Total | $988.8 | $935.0 | $53.8 | 5.8% |
| Segment | 9m25 | 9m24 | $ Chg | % Chg |
|---|---|---|---|---|
| Joint Replacement | $1,273.3 | $1,244.3 | $29.0 | 2.3% |
| Knees | $743.0 | $728.2 | $14.9 | 2% |
| Hips | $467.3 | $458.0 | $9.4 | 2% |
| Extremities | $62.9 | $58.2 | $4.7 | 8.1% |
| Trauma | $412.0 | $388.9 | $23.1 | 5.9% |
| Sports Medicine | $1,227.9 | $1,173.3 | $54.5 | 4.6% |
| Enabling Technology | $84.9 | $64.2 | $20.8 | 32.4% |
| Total | $2,998.1 | $2,870.7 | $127.3 | 4.4% |
Orthopedic Sales by Geography
| Region | 3Q25 | 3Q24 | $ Chg | % Chg |
|---|---|---|---|---|
| US | $523.8 | $495.3 | $28.5 | 5.8% |
| OUS | $465.0 | $439.7 | $25.3 | 5.8% |
| EMEA | $249.3 | $238.5 | $10.8 | 4.5% |
| Asia Pacific | $94.6 | $88.7 | $5.8 | 6.6% |
| Rest of World | $121.1 | $112.5 | $8.6 | 7.7% |
| Total | $988.8 | $935.0 | $53.8 | 5.8% |
| Region | 9m25 | 9m24 | $ Chg | % Chg |
|---|---|---|---|---|
| US | $1,600.5 | $1,517.6 | $82.9 | 5.5% |
| OUS | $1,397.6 | $1,353.1 | $44.5 | 3.3% |
| EMEA | $775.6 | $739.7 | $36.0 | 4.9% |
| Asia Pacific | $270.2 | $270.8 | ($0.6) | (0.2%) |
| Rest of World | $351.7 | $342.7 | $9.0 | 2.6% |
| Total | $2,998.1 | $2,870.7 | $127.3 | 4.4% |
Smith+Nephew reported 3Q25 orthopedic sales of $988.8 million, up 5.8% compared to the third quarter of 2024. For the first nine months of the year, the company generated $2.9 billion, up 4.4% compared to the prior period.
For the third quarter, joint replacement performance was mixed. U.S. hips had a strong showing, while U.S. knees were...
Smith+Nephew reported 3Q25 orthopedic sales of $988.8 million, up 5.8% compared to the third quarter of 2024. For the first nine months of the year, the company generated $2.9 billion, up 4.4% compared to the prior period.
For the third quarter, joint replacement performance was mixed. U.S. hips had a strong showing, while U.S. knees were softer. Outside the U.S., hips were slower while knees performed well. Smith+Nephew’s U.S. knee replacement sales were hampered by ongoing portfolio rationalization efforts that resulted in volume loss.
However, the third quarter brought significant strength in the number of CORI placements, although deals skewed more heavily away from outright purchases.
“I’m particularly encouraged by where we’re placing CORI,” said Smith+Nephew CEO Deepak Nath. “Teaching institutions where historically, we’ve been somewhat under-indexed and there’s quite a bit of effort we’ve put into strengthening our presence which has been good to see. Our placements into ASCs have also been very, very encouraging. Where we placed CORI, we see above market levels of utilization and where we also placed CORI, we see great uptake. So all of those are very encouraging.”
The company saw acceleration over first half results in both trauma and shoulder, driven by the EVOS plating system and AETOS shoulder. The TRIGEN MAX Tibia Nailing System contributed to U.S. growth ahead of expectations.
The impact of volume-based procurement is abating on sports medicine joint pair products, but new tenders on arthroscopic enabling technologies are looming. Smith+Nephew said it is committed to creating a sustainable, profitable business in China and will evaluate its presence there on a segment-by-segment basis.
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 | 3Q25 | 3Q24 | $ Chg | % Chg |
|---|---|---|---|---|
| Joint Replacement | $411.6 | $396.7 | $14.9 | 3.8% |
| Knees | $237.1 | $231.1 | $6.0 | 2.6% |
| Hips | $153.4 | $146.4 | $7.0 | 4.8% |
| Extremities | $21.2 | $19.2 | $2.0 | 10.3% |
| Trauma | $138.7 | $128.6 | $10.1 | 7.9% |
| Sports Medicine | $411.6 | $386.1 | $25.5 | 6.6% |
| Enabling Technology | $26.9 | $23.7 | $3.2 | 13.6% |
| Total | $988.8 | $935.0 | $53.8 | 5.8% |
| Segment | 9m25 | 9m24 | $ Chg | % Chg |
|---|---|---|---|---|
| Joint Replacement | $1,273.3 | $1,244.3 | $29.0 | 2.3% |
| Knees | $743.0 | $728.2 | $14.9 | 2% |
| Hips | $467.3 | $458.0 | $9.4 | 2% |
| Extremities | $62.9 | $58.2 | $4.7 | 8.1% |
| Trauma | $412.0 | $388.9 | $23.1 | 5.9% |
| Sports Medicine | $1,227.9 | $1,173.3 | $54.5 | 4.6% |
| Enabling Technology | $84.9 | $64.2 | $20.8 | 32.4% |
| Total | $2,998.1 | $2,870.7 | $127.3 | 4.4% |
Orthopedic Sales by Geography
| Region | 3Q25 | 3Q24 | $ Chg | % Chg |
|---|---|---|---|---|
| US | $523.8 | $495.3 | $28.5 | 5.8% |
| OUS | $465.0 | $439.7 | $25.3 | 5.8% |
| EMEA | $249.3 | $238.5 | $10.8 | 4.5% |
| Asia Pacific | $94.6 | $88.7 | $5.8 | 6.6% |
| Rest of World | $121.1 | $112.5 | $8.6 | 7.7% |
| Total | $988.8 | $935.0 | $53.8 | 5.8% |
| Region | 9m25 | 9m24 | $ Chg | % Chg |
|---|---|---|---|---|
| US | $1,600.5 | $1,517.6 | $82.9 | 5.5% |
| OUS | $1,397.6 | $1,353.1 | $44.5 | 3.3% |
| EMEA | $775.6 | $739.7 | $36.0 | 4.9% |
| Asia Pacific | $270.2 | $270.8 | ($0.6) | (0.2%) |
| Rest of World | $351.7 | $342.7 | $9.0 | 2.6% |
| Total | $2,998.1 | $2,870.7 | $127.3 | 4.4% |
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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.
