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Smith+Nephew reported 1Q24 orthopedic sales of $960.3 million, up 3.8% compared to the first quarter of 2023.
The company’s orthopedic franchise saw solid growth from its Trauma and Extremities business as well as Knees and Hips outside the U.S. The EVOS plating system and improved supply drove growth in trauma sales. Smith+Nephew also fully launched its AETOS shoulder system during the quarter.
Sports Medicine sales remained robust despite a $5 million impact from volume-based procurement in China. REGENETEN drove double-digit growth, but sales of sports medicine enabling technologies suffered due to supply constraints.
Joint replacement sales in the U.S. lagged due to set availability and commercial execution. Smith+Nephew said it made significant strides toward improving its U.S. recon sales during the quarter.
“We had a certain amount of churn with our sales force that resulted in a number of gaps across our territories through 2023,” said Smith+Nephew CEO Deepak Nath. “We have more or less covered those now. We expect the U.S. to bring together all the improvements around supply, the innovations that we brought forward, the commercial processes that we’ve improved and the new growth-oriented commercial plan that we put in place.”
Craig Gaffin succeeded Brad Cannon as President of Orthopaedics at Smith+Nephew to drive further improvements. Mr. Gaffin spent the last five years in the company’s Trauma & Extremities franchise and will be charged with delivering sharper execution in U.S. recon.
Smith+Nephew reiterated its 2024 total sales guidance of 5% to 6% underlying growth. It expects continued strength in Trauma and Extremities and OUS knees and hips within orthopedics.
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 | 1Q24 | 1Q23 | $ Chg | % Chg |
|---|---|---|---|---|
| Joint Replacement | $415.9 | $408.6 | $7.3 | 1.8% |
| Knees | $240.5 | $237.9 | $2.6 | 1.1% |
| Hips | $155.9 | $152.6 | $3.3 | 2.2% |
| Extremities | $19.4 | $18.1 | $1.3 | 7.3% |
| Trauma | $127.0 | $118.4 | $8.6 | 7.3% |
| Sports Medicine | $392.8 | $377.3 | $15.5 | 4.1% |
| Enabling Technology | $24.6 | $20.9 | $3.6 | 17.3% |
| Total | $960.3 | $925.2 | $35.1 | 3.8% |
Orthopedic Sales by Geography
| Region | 1Q24 | 1Q23 | $ Chg | % Chg |
|---|---|---|---|---|
| US | $499.3 | $502.8 | ($3.5) | (0.7%) |
| OUS | $460.9 | $422.3 | $38.6 | 9.1% |
| EMEA | $248.9 | $234.3 | $14.6 | 6.3% |
| APAC | $99.1 | $88.1 | $11.0 | 12.5% |
| ROW | $112.9 | $100.0 | $12.9 | 13% |
| Total | $960.3 | $925.2 | $35.1 | 3.8% |
Smith+Nephew reported 1Q24 orthopedic sales of $960.3 million, up 3.8% compared to the first quarter of 2023.
The company's orthopedic franchise saw solid growth from its Trauma and Extremities business as well as Knees and Hips outside the U.S. The EVOS plating system and improved supply drove growth in trauma sales. Smith+Nephew also...
Smith+Nephew reported 1Q24 orthopedic sales of $960.3 million, up 3.8% compared to the first quarter of 2023.
The company’s orthopedic franchise saw solid growth from its Trauma and Extremities business as well as Knees and Hips outside the U.S. The EVOS plating system and improved supply drove growth in trauma sales. Smith+Nephew also fully launched its AETOS shoulder system during the quarter.
Sports Medicine sales remained robust despite a $5 million impact from volume-based procurement in China. REGENETEN drove double-digit growth, but sales of sports medicine enabling technologies suffered due to supply constraints.
Joint replacement sales in the U.S. lagged due to set availability and commercial execution. Smith+Nephew said it made significant strides toward improving its U.S. recon sales during the quarter.
“We had a certain amount of churn with our sales force that resulted in a number of gaps across our territories through 2023,” said Smith+Nephew CEO Deepak Nath. “We have more or less covered those now. We expect the U.S. to bring together all the improvements around supply, the innovations that we brought forward, the commercial processes that we’ve improved and the new growth-oriented commercial plan that we put in place.”
Craig Gaffin succeeded Brad Cannon as President of Orthopaedics at Smith+Nephew to drive further improvements. Mr. Gaffin spent the last five years in the company’s Trauma & Extremities franchise and will be charged with delivering sharper execution in U.S. recon.
Smith+Nephew reiterated its 2024 total sales guidance of 5% to 6% underlying growth. It expects continued strength in Trauma and Extremities and OUS knees and hips within orthopedics.
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 | 1Q24 | 1Q23 | $ Chg | % Chg |
|---|---|---|---|---|
| Joint Replacement | $415.9 | $408.6 | $7.3 | 1.8% |
| Knees | $240.5 | $237.9 | $2.6 | 1.1% |
| Hips | $155.9 | $152.6 | $3.3 | 2.2% |
| Extremities | $19.4 | $18.1 | $1.3 | 7.3% |
| Trauma | $127.0 | $118.4 | $8.6 | 7.3% |
| Sports Medicine | $392.8 | $377.3 | $15.5 | 4.1% |
| Enabling Technology | $24.6 | $20.9 | $3.6 | 17.3% |
| Total | $960.3 | $925.2 | $35.1 | 3.8% |
Orthopedic Sales by Geography
| Region | 1Q24 | 1Q23 | $ Chg | % Chg |
|---|---|---|---|---|
| US | $499.3 | $502.8 | ($3.5) | (0.7%) |
| OUS | $460.9 | $422.3 | $38.6 | 9.1% |
| EMEA | $248.9 | $234.3 | $14.6 | 6.3% |
| APAC | $99.1 | $88.1 | $11.0 | 12.5% |
| ROW | $112.9 | $100.0 | $12.9 | 13% |
| Total | $960.3 | $925.2 | $35.1 | 3.8% |
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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.
