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Zimmer Biomet reported 4Q24 orthopedic sales of $2.0 billion, up 4.3% compared to the fourth quarter of 2023. For the full year, the company generated $7.6 billion in orthopedic sales, up 3.8% compared to the prior year.
The company exited 2024 with normalized shipping levels after its ERP issues and good momentum in its upper extremity and sports medicine businesses. However, Zimmer Biomet’s spotty performance in the United States needs to improve for the company to achieve its mid-single-digit growth goals.
“We are committed to elevating our performance in the critical U.S. market,” said Zimmer Biomet CEO Ivan Tornos. “We know that our performance has not been consistent, and we’re going to do a far better job in this regard. This means specializing more aggressively in S.E.T., adding new capabilities, and expanding the portfolio and partnerships in the ASC environment. We like where we are, but want to be bolder in ASCs and continue to launch innovative solutions in robotics while ensuring that we also have the right number of headcounts to drive growth in this vital area.”
Focusing on higher-growth segments is a key component of Zimmer Biomet’s diversification strategy. The pending acquisition of Paragon 28 is a major step in that direction. When the transaction closes, the company’s combined S.E.T. segment revenue will outsize its hip franchise and grow faster than both its knee and hip franchises.
For 2025, Zimmer Biomet expects total reported sales growth between 1% and 3.5% with healthy end markets. The company has little to no exposure on tariffs for both Mexico and Canada. Impact from China is included in the company’s guidance.
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 | 4Q24 | 4Q23 | $ Chg | % Chg |
|---|---|---|---|---|
| Joint Replacement | $1,472.2 | $1,407.8 | $64.4 | 4.6% |
| Knees | $839.2 | $798.3 | $40.9 | 5.1% |
| Hips | $520.0 | $504.8 | $15.2 | 3% |
| Extremities | $113.0 | $104.7 | $8.3 | 8% |
| Trauma | $175.7 | $171.8 | $3.9 | 2.3% |
| Sports Medicine | $60.2 | $49.9 | $10.3 | 20.7% |
| Orthobiologics | $36.7 | $36.3 | $0.4 | 1.2% |
| Enabling Technology | $27.1 | $29.4 | -$2.3 | -7.9% |
| Other | $251.3 | $245.0 | $6.3 | 2.6% |
| Total | $2,023.2 | $1,940.1 | $83.1 | 4.3% |
| Segment | FY24 | FY23 | $ Chg | % Chg |
|---|---|---|---|---|
| Joint Replacement | $5.612.7 | $5,410.6 | $202.2 | 3.7% |
| Knees | $3,173.4 | $3,038.5 | $134.9 | 4.4% |
| Hips | $1,999.3 | $1,967.2 | $32.1 | 1.6% |
| Extremities | $440.1 | $404.9 | $35.2 | 8.7% |
| Trauma | $681.5 | $664.2 | $17.3 | 2.6% |
| Sports Medicine | $213.8 | $192.8 | $21.0 | 10.9% |
| Orthobiologics | $142.7 | $140.2 | $2.5 | 1.8% |
| Enabling Technology | $94.8 | $94.1 | $0.7 | 0.7% |
| Other | $932.8 | $892.4 | $40.5 | 4.5% |
| Total | $7,678.4 | $7,394.3 | $284.1 | 3.8% |
Orthopedic Sales by Geography
| Region | 4Q24 | 4Q23 | $ Chg | % Chg |
|---|---|---|---|---|
| US | $1,181.2 | $1,128.2 | $53.0 | 4.7% |
| OUS | $842.0 | $811.9 | $30.1 | 3.7% |
| EMEA | $459.3 | $426.0 | $33.3 | 7.8% |
| Asia Pacific | $293.4 | $301.0 | -$7.6 | -2.5% |
| Rest of World | $89.3 | $84.9 | $4.4 | 5.2% |
| Total | $2,023.2 | $1,940.1 | $83.1 | 4.3% |
| Region | FY24 | FY23 | $ Chg | % Chg |
|---|---|---|---|---|
| US | $4,439.3 | $4,288.9 | $150.4 | 3.5% |
| OUS | $3,239.1 | $3,105.4 | $133.7 | 4.3% |
| EMEA | $1,701.3 | $1,592.4 | $108.9 | 6.8% |
| Asia Pacific | $1,182.7 | $1,777.7 | $5.0 | 0.4% |
| Rest of World | $355.1 | $335.3 | $19.8 | 5.9% |
| Total | $7,678.4 | $7,394.3 | $384.1 | 3.8% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $7,678.4 | |
| Cost of Sales | $2,191.2 | 28.5% |
| Selling and Admin | $2,929.9 | 38.2% |
| R & D | $437.3 | 5.7% |
| Other | $1,216.3 | 15.8% |
| Net Earnings | $903.7 | 11.8% |
Zimmer Biomet reported 4Q24 orthopedic sales of $2.0 billion, up 4.3% compared to the fourth quarter of 2023. For the full year, the company generated $7.6 billion in orthopedic sales, up 3.8% compared to the prior year.
The company exited 2024 with normalized shipping levels after its ERP issues and good momentum in its upper...
Zimmer Biomet reported 4Q24 orthopedic sales of $2.0 billion, up 4.3% compared to the fourth quarter of 2023. For the full year, the company generated $7.6 billion in orthopedic sales, up 3.8% compared to the prior year.
The company exited 2024 with normalized shipping levels after its ERP issues and good momentum in its upper extremity and sports medicine businesses. However, Zimmer Biomet’s spotty performance in the United States needs to improve for the company to achieve its mid-single-digit growth goals.
“We are committed to elevating our performance in the critical U.S. market,” said Zimmer Biomet CEO Ivan Tornos. “We know that our performance has not been consistent, and we’re going to do a far better job in this regard. This means specializing more aggressively in S.E.T., adding new capabilities, and expanding the portfolio and partnerships in the ASC environment. We like where we are, but want to be bolder in ASCs and continue to launch innovative solutions in robotics while ensuring that we also have the right number of headcounts to drive growth in this vital area.”
Focusing on higher-growth segments is a key component of Zimmer Biomet’s diversification strategy. The pending acquisition of Paragon 28 is a major step in that direction. When the transaction closes, the company’s combined S.E.T. segment revenue will outsize its hip franchise and grow faster than both its knee and hip franchises.
For 2025, Zimmer Biomet expects total reported sales growth between 1% and 3.5% with healthy end markets. The company has little to no exposure on tariffs for both Mexico and Canada. Impact from China is included in the company’s guidance.
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 | 4Q24 | 4Q23 | $ Chg | % Chg |
|---|---|---|---|---|
| Joint Replacement | $1,472.2 | $1,407.8 | $64.4 | 4.6% |
| Knees | $839.2 | $798.3 | $40.9 | 5.1% |
| Hips | $520.0 | $504.8 | $15.2 | 3% |
| Extremities | $113.0 | $104.7 | $8.3 | 8% |
| Trauma | $175.7 | $171.8 | $3.9 | 2.3% |
| Sports Medicine | $60.2 | $49.9 | $10.3 | 20.7% |
| Orthobiologics | $36.7 | $36.3 | $0.4 | 1.2% |
| Enabling Technology | $27.1 | $29.4 | -$2.3 | -7.9% |
| Other | $251.3 | $245.0 | $6.3 | 2.6% |
| Total | $2,023.2 | $1,940.1 | $83.1 | 4.3% |
| Segment | FY24 | FY23 | $ Chg | % Chg |
|---|---|---|---|---|
| Joint Replacement | $5.612.7 | $5,410.6 | $202.2 | 3.7% |
| Knees | $3,173.4 | $3,038.5 | $134.9 | 4.4% |
| Hips | $1,999.3 | $1,967.2 | $32.1 | 1.6% |
| Extremities | $440.1 | $404.9 | $35.2 | 8.7% |
| Trauma | $681.5 | $664.2 | $17.3 | 2.6% |
| Sports Medicine | $213.8 | $192.8 | $21.0 | 10.9% |
| Orthobiologics | $142.7 | $140.2 | $2.5 | 1.8% |
| Enabling Technology | $94.8 | $94.1 | $0.7 | 0.7% |
| Other | $932.8 | $892.4 | $40.5 | 4.5% |
| Total | $7,678.4 | $7,394.3 | $284.1 | 3.8% |
Orthopedic Sales by Geography
| Region | 4Q24 | 4Q23 | $ Chg | % Chg |
|---|---|---|---|---|
| US | $1,181.2 | $1,128.2 | $53.0 | 4.7% |
| OUS | $842.0 | $811.9 | $30.1 | 3.7% |
| EMEA | $459.3 | $426.0 | $33.3 | 7.8% |
| Asia Pacific | $293.4 | $301.0 | -$7.6 | -2.5% |
| Rest of World | $89.3 | $84.9 | $4.4 | 5.2% |
| Total | $2,023.2 | $1,940.1 | $83.1 | 4.3% |
| Region | FY24 | FY23 | $ Chg | % Chg |
|---|---|---|---|---|
| US | $4,439.3 | $4,288.9 | $150.4 | 3.5% |
| OUS | $3,239.1 | $3,105.4 | $133.7 | 4.3% |
| EMEA | $1,701.3 | $1,592.4 | $108.9 | 6.8% |
| Asia Pacific | $1,182.7 | $1,777.7 | $5.0 | 0.4% |
| Rest of World | $355.1 | $335.3 | $19.8 | 5.9% |
| Total | $7,678.4 | $7,394.3 | $384.1 | 3.8% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $7,678.4 | |
| Cost of Sales | $2,191.2 | 28.5% |
| Selling and Admin | $2,929.9 | 38.2% |
| R & D | $437.3 | 5.7% |
| Other | $1,216.3 | 15.8% |
| Net Earnings | $903.7 | 11.8% |
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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.
