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ORTHOWORLD estimates Stryker’s 2Q17 orthopaedic revenue at US $1,618.7MM, +4.0% from 2Q16, and 1H17 revenue of $3,230.9MM, +4.9% vs. 1H16. Estimated segment sales and growth follow.
| 2Q17 | 2Q16 | $ Change | % Change | |
| Joint Reconstruction | $869.9 | $841.2 | $28.7 | 3.4% |
| Knee | $484.8 | $457.7 | $27.1 | 5.9% |
| Hip | $357.4 | $358.4 | -$1.0 | -0.3% |
| Extremities | $27.7 | $25.1 | $2.6 | 10.3% |
| Trauma | $328.2 | $304.3 | $23.9 | 7.8% |
| Arthroscopy/Soft Tissue | $122.8 | $113.5 | $9.3 | 8.2% |
| Spine | $172.3 | $177.8 | -$5.5 | -3.1% |
| Orthobiologics | $53.4 | $51.0 | $2.3 | 4.6% |
| Other* | $72.2 | $69.0 | $3.2 | 4.7% |
| Total | $1,618.7 | $1,556.8 | $61.9 | 4.0% |
| 1H17 | 1H16 | $ Change | % Change | |
| Joint Reconstruction | $1,738.4 | $1,663.4 | $75.0 | 4.5% |
| Knee | $971.0 | $907.7 | $63.3 | 7.4% |
| Hip | $710.9 | $703.1 | $7.8 | 0.2% |
| Extremities | $56.4 | $51.9 | $4.6 | 12.6% |
| Trauma | $655.9 | $607.3 | $48.6 | 8.0% |
| Arthroscopy/Soft Tissue | $240.7 | $223.0 | $17.7 | 8.0% |
| Spine | $345.7 | $346.9 | -$1.1 | -0.3% |
| Orthobiologics | $106.4 | $100.7 | $5.7 | 5.6% |
| Other* | $143.9 | $137.4 | $6.5 | 4.7% |
| Total | $3,230.9 | $3,077.9 | $153.0 | 4.9% |
*Includes CMF, Performance Solutions
Performance highlights:
- Knee growth supported by Mako placements, as surgeons begin use of Triathlon total knee to prepare for Mako adoption
- Mako total knee is a door-opener to introduce whole knee portfolio to new customers, including 3D-printed tibial base plate and revision augments
- Foot/ankle product sales growth supported by Instratek acquisition
- Sports medicine growth outpaces the market, supported by small acquisitions (Pivot Medical’s hip arthroscopy, Ivy Sports Medicine’s meniscal repair)
- Ongoing recovery in U.S. spine revenue from early-2017 supply issues, partially offset by demand for 3D-printed products—“capacity constrained for Tritanium products,” but a number of projects in the R&D queue
- Executed sampling plan for the System 8 drill and commenced customer trials; product is now in full commercial launch, expecting acceleration in 2H based on upgrades
- Doing “a lot of work with our Trauson portfolio” for domestic and export products; seeking a new leader for that business in China (primarily a trauma/spine company)
Mako Update:
- Installed 26 robots globally, +50% vs. 2Q16 (20 in the U.S.)
- 40% placed into competitive accounts
- U.S. system upgrades remain on track for completion in 2018
- >400 surgeons trained on total knee, with >5,000 procedures performed since launch
- Ex-U.S. interest across a range of countries: Australia is a “fantastic market,” Europe is picking up—called out Germany, Italy, the U.K.; have robots in China, India and Vietnam…France and Canada are expected to take a little longer…no robots in Japan yet
- Prioritizing investments to keep the waiting list low: based on the customer’s location, there may be an up to 5-month waiting period to get the robot installed and MAKOplasty specialists in place for training
“The biggest gating item is our ability to identify, hire and train the Mako specialists who are critical to ensuring that not just the surgeon,
but his entire OR staff is prepared to have a successful experience as they adopt the robot…If you wanted a total Mako knee robot today,
the issue isn’t us being able to build and get you a robot; the issue is getting you in the queue, trained and through that process as we hire
additional Mako specialists.” – Katherine A. Owen, Vice President, Strategy and Investor Relations
Sources: Stryker Corporation; ORTHOWORLD estimates
ORTHOWORLD estimates Stryker’s 2Q17 orthopaedic revenue at US $1,618.7MM, +4.0% from 2Q16, and 1H17 revenue of $3,230.9MM, +4.9% vs. 1H16. Estimated segment sales and growth follow.
Q17
Q16
$ Change
% Change
Joint...
ORTHOWORLD estimates Stryker’s 2Q17 orthopaedic revenue at US $1,618.7MM, +4.0% from 2Q16, and 1H17 revenue of $3,230.9MM, +4.9% vs. 1H16. Estimated segment sales and growth follow.
| 2Q17 | 2Q16 | $ Change | % Change | |
| Joint Reconstruction | $869.9 | $841.2 | $28.7 | 3.4% |
| Knee | $484.8 | $457.7 | $27.1 | 5.9% |
| Hip | $357.4 | $358.4 | -$1.0 | -0.3% |
| Extremities | $27.7 | $25.1 | $2.6 | 10.3% |
| Trauma | $328.2 | $304.3 | $23.9 | 7.8% |
| Arthroscopy/Soft Tissue | $122.8 | $113.5 | $9.3 | 8.2% |
| Spine | $172.3 | $177.8 | -$5.5 | -3.1% |
| Orthobiologics | $53.4 | $51.0 | $2.3 | 4.6% |
| Other* | $72.2 | $69.0 | $3.2 | 4.7% |
| Total | $1,618.7 | $1,556.8 | $61.9 | 4.0% |
| 1H17 | 1H16 | $ Change | % Change | |
| Joint Reconstruction | $1,738.4 | $1,663.4 | $75.0 | 4.5% |
| Knee | $971.0 | $907.7 | $63.3 | 7.4% |
| Hip | $710.9 | $703.1 | $7.8 | 0.2% |
| Extremities | $56.4 | $51.9 | $4.6 | 12.6% |
| Trauma | $655.9 | $607.3 | $48.6 | 8.0% |
| Arthroscopy/Soft Tissue | $240.7 | $223.0 | $17.7 | 8.0% |
| Spine | $345.7 | $346.9 | -$1.1 | -0.3% |
| Orthobiologics | $106.4 | $100.7 | $5.7 | 5.6% |
| Other* | $143.9 | $137.4 | $6.5 | 4.7% |
| Total | $3,230.9 | $3,077.9 | $153.0 | 4.9% |
*Includes CMF, Performance Solutions
Performance highlights:
- Knee growth supported by Mako placements, as surgeons begin use of Triathlon total knee to prepare for Mako adoption
- Mako total knee is a door-opener to introduce whole knee portfolio to new customers, including 3D-printed tibial base plate and revision augments
- Foot/ankle product sales growth supported by Instratek acquisition
- Sports medicine growth outpaces the market, supported by small acquisitions (Pivot Medical’s hip arthroscopy, Ivy Sports Medicine’s meniscal repair)
- Ongoing recovery in U.S. spine revenue from early-2017 supply issues, partially offset by demand for 3D-printed products—“capacity constrained for Tritanium products,” but a number of projects in the R&D queue
- Executed sampling plan for the System 8 drill and commenced customer trials; product is now in full commercial launch, expecting acceleration in 2H based on upgrades
- Doing “a lot of work with our Trauson portfolio” for domestic and export products; seeking a new leader for that business in China (primarily a trauma/spine company)
Mako Update:
- Installed 26 robots globally, +50% vs. 2Q16 (20 in the U.S.)
- 40% placed into competitive accounts
- U.S. system upgrades remain on track for completion in 2018
- >400 surgeons trained on total knee, with >5,000 procedures performed since launch
- Ex-U.S. interest across a range of countries: Australia is a “fantastic market,” Europe is picking up—called out Germany, Italy, the U.K.; have robots in China, India and Vietnam…France and Canada are expected to take a little longer…no robots in Japan yet
- Prioritizing investments to keep the waiting list low: based on the customer’s location, there may be an up to 5-month waiting period to get the robot installed and MAKOplasty specialists in place for training
“The biggest gating item is our ability to identify, hire and train the Mako specialists who are critical to ensuring that not just the surgeon,
but his entire OR staff is prepared to have a successful experience as they adopt the robot…If you wanted a total Mako knee robot today,
the issue isn’t us being able to build and get you a robot; the issue is getting you in the queue, trained and through that process as we hire
additional Mako specialists.” – Katherine A. Owen, Vice President, Strategy and Investor Relations
Sources: Stryker Corporation; ORTHOWORLD estimates
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JV
Julie Vetalice is ORTHOWORLD's Editorial Assistant. She has covered the orthopedic industry for over 20 years, having joined the company in 1999.
