Medical Design and Outsourcing

  • Home
  • Medical Device Business
    • Mergers & Acquisitions
    • Financial
    • Regulatory
  • Applications
    • Cardiovascular
    • Devices
    • Imaging
    • Implantables
    • Medical Equipment
    • Orthopedic
    • Surgical
  • Technologies
    • Components
    • Electronics
    • Extrusions
    • Materials
    • Motion Control
    • Prototyping
    • Pumps
    • Tubing
  • Contract Manufacturing
  • Med Tech Resources
    • DeviceTalks Tuesdays
    • Digital Editions
    • eBooks
    • Manufacturer Search
    • Medical Device Handbook
    • MedTech 100 Index
    • Podcasts
    • Print Subscription
    • Suppliers
    • The Big 100
      • Archive – The Big 100 (2018)
    • Webinars / Digital Events
    • Whitepapers
    • Video
  • Leadership
    • Women in Medtech
    • 2020 Winners
    • 2019 Winners

The top 5 orthopedic device industry stories of 2020

December 21, 2020 By Chris Newmarker

2. Fewer elective procedures amid COVID-19

knee surgery elective procedures

Image by Wellcome Collection gallery, (2018-03-23): CC BY 4.0

The COVID-19 pandemic hit orthopedic device companies especially hard financially. The pandemic caused a curtailment of elective procedures — and sometimes even not-so-elective procedures — as health providers focused on managing COVID-19 and patients stayed away in droves. Companies generally reported some procedure recovery in the third quarter, but there may have been more problems in Q4 as an even bigger wave of cases hit the world.

Here are how some of the largest companies performed:

  • Stryker’s sales were down –6.2% year-over-year, to more than $10 billion for the first nine months of 2020. Stryker saw sales recover during Q3, though Lobo warned of uneven growth within the company and an uncertain environment amid the pandemic.
  • Johnson & Johnson’s orthopedics business saw sales fall –15.1% year-over-year, to roughly $5.6 billion for the first nine months of 2020. Sales were only down –2.6% during Q3.
  • Zimmer Biomet sales were down –15.7% year-over-year, to nearly $5 billion for the first nine months of 2020. But there was also some sales recovery in Q3. “While the stronger-than-expected recovery of elective procedures in the third quarter was encouraging, we also remain focused on ZB’s strong operational execution, which continues to drive confidence in our underlying business,” CEO Bryan Hanson said at the time.
  • Smith+Nephew’s orthopedics and sports medicine businesses were down about –7.5% year-over-year, to roughly $2.3 billion for the first nine months of 2020. The British medtech giant also saw improved sales performance in Q3.

Next>>

Pages: 1 2 3 4 5 6

Related Articles Read More >

coronavirus COVID-19 FDA HHS tests
The top 7 medtech CEO quotes on COVID-19, one year later
talus-implant
FDA gives ankle implant humanitarian nod
How connectivity and digitalization are changing patient care
Canary Medical Zimmer Biomet Canary Health Implantable Reporting Processor CHIRP smart knee implant
Are smart knee implants the next big thing in ortho?

MEDTECH 100 INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.

MDO Digital Edition

Digital Edition

Subscribe to Medical Design & Outsourcing. Bookmark, share and interact with the leading medical design engineering magazine today.

DeviceTalks

DeviceTalks is a conversation among medical technology leaders. It's events, podcasts, webinars and one-on-one exchanges of ideas & insights.

DeviceTalks

New MedTech Resource

Medical Tubing

Enewsletter Subscriptions

Tweets by MedTechDaily

MassDevice

Mass Device

The Medical Device Business Journal. MassDevice is the leading medical device news business journal telling the stories of the devices that save lives.

Visit Website
MDO ad
Medical Design and Outsourcing
  • MassDevice
  • DeviceTalks
  • Drug Delivery Business News
  • Drug Discovery & Development
  • Medical Tubing + Extrusion
  • MedTech 100
  • Pharmaceutical Processing World
  • R&D World
  • About Us/Contact
  • Advertising
  • Subscribe to Enewsletter
  • Subscribe to Print Magazine
  • Attend our Monthly Webinars
  • Listen to our Weekly Podcasts
  • Join our Device Talks Tuesdays Discussion

Copyright © 2021 WTWH Media, LLC. All Rights Reserved. Site Map | Privacy Policy | RSS

Search Medical Design & Outsourcing

  • Home
  • Medical Device Business
    • Mergers & Acquisitions
    • Financial
    • Regulatory
  • Applications
    • Cardiovascular
    • Devices
    • Imaging
    • Implantables
    • Medical Equipment
    • Orthopedic
    • Surgical
  • Technologies
    • Components
    • Electronics
    • Extrusions
    • Materials
    • Motion Control
    • Prototyping
    • Pumps
    • Tubing
  • Contract Manufacturing
  • Med Tech Resources
    • DeviceTalks Tuesdays
    • Digital Editions
    • eBooks
    • Manufacturer Search
    • Medical Device Handbook
    • MedTech 100 Index
    • Podcasts
    • Print Subscription
    • Suppliers
    • The Big 100
      • Archive – The Big 100 (2018)
    • Webinars / Digital Events
    • Whitepapers
    • Video
  • Leadership
    • Women in Medtech
    • 2020 Winners
    • 2019 Winners