Orthofix’s hectic 2023 included the integration of SeaSpine and a sudden leadership change. The combined organization emerged from the year with solid pro forma growth of 6.5% and a renewed focus on enabling technology from incoming CEO Massimo Calafiore.
However, the company also faces questions about its trauma business, which has grown below market average in recent years. While Orthofix’s trauma sales saw a nice step up in 2023, growing 7.2% for the year, it has a CAGR of just 1.7% since 2016. The market average for overall trauma during that span is 4% growth.
However, the company remains fully committed to the trauma segment, which accounted for 15% of the company’s $746.6 million in sales in 2023.
“Orthopedics is the DNA of this organization,” said Orthofix CEO Massimo Calafiore. “The business is totally skewed on Europe where we are at the very, very high level of maturity. What we see in front of us is an enormous opportunity in the United States, where we have a very small market share. So, there is a lot of focused investment that we are making right now in that market, not just around the marketing and sales, but also innovation.”
In 2023, just over a quarter of Orthofix’s trauma sales came from the U.S., which saw more than 11% growth on the strength of TruLok EVO and distributor expansion.
Orthofix's hectic 2023 included the integration of SeaSpine and a sudden leadership change. The combined organization emerged from the year with solid pro forma growth of 6.5% and a renewed focus on enabling technology from incoming CEO Massimo Calafiore.
However, the company also faces questions about its trauma business, which has...
Orthofix’s hectic 2023 included the integration of SeaSpine and a sudden leadership change. The combined organization emerged from the year with solid pro forma growth of 6.5% and a renewed focus on enabling technology from incoming CEO Massimo Calafiore.
However, the company also faces questions about its trauma business, which has grown below market average in recent years. While Orthofix’s trauma sales saw a nice step up in 2023, growing 7.2% for the year, it has a CAGR of just 1.7% since 2016. The market average for overall trauma during that span is 4% growth.
However, the company remains fully committed to the trauma segment, which accounted for 15% of the company’s $746.6 million in sales in 2023.
“Orthopedics is the DNA of this organization,” said Orthofix CEO Massimo Calafiore. “The business is totally skewed on Europe where we are at the very, very high level of maturity. What we see in front of us is an enormous opportunity in the United States, where we have a very small market share. So, there is a lot of focused investment that we are making right now in that market, not just around the marketing and sales, but also innovation.”
In 2023, just over a quarter of Orthofix’s trauma sales came from the U.S., which saw more than 11% growth on the strength of TruLok EVO and distributor expansion.
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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.
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