While dips in revenue were widespread across the medical device industry last year due to the cessation of elective surgeries because of the COVID-19 pandemic, many orthopedic companies are well positioned to recover this year. Fortune Business Insights estimates the market to be worth $53.4 billion and projects it to rise to $68.5 billion by 2027, increasing at a compound annual growth rate of 6.6 percent.
Fifty things to know about 10 of the biggest orthopedic device companies:
Editor’s note: Revenue and sales figures are drawn from 2019 financial reports and include percentage changes from the prior year.
1. Johnson & Johnson (DePuy Synthes)
– 2019 orthopedics sales: $8.8 billion (+0.5 percent)
– 2019 total medical device sales: $25.9 billion (+3.8 percent)
– Number of employees: 12,000
– Headquarters: Warsaw, Ind.
– U.S. president: Tim Czartoski
2. Zimmer Biomet
– 2019 net sales: $7.9 billion (+0.6 percent)
– 2019 knees sales: $2.8 billion (+1.3 percent)
– 2019 hips sales: $1.9 billion (+0.7 percent)
– 2019 spine and craniomaxillofacial sales: $747 million (-2.2 percent)
– Number of employees: 19,000
– Headquarters: Warsaw, Ind.
– President and CEO: Bryan Hanson
3. Medtronic
– Restorative therapies group FY 2020 revenue: $7.7 billion (-5.6 percent)
– Minimally invasive therapies FY 2020 revenue: $8.4 billion (-1.5 percent)
– Total FY 2020 revenue: $28.9 billion (-5.4 percent)
– Number of employees: 90,000
– Headquarters: Dublin
– CEO: Geoff Martha
4. Stryker
– 2019 orthopedics sales: $5.3 billion (+5.2 percent)
– 2019 neurotechnology and spine sales: $3.1 billion (+19.2 percent)
– 2019 net sales: $14.9 billion (+9.4 percent)
– Number of employees: 33,000
– Headquarters: Kalamazoo, Mich.
– CEO: Kevin Lobo
5. Smith+Nephew
– 2019 orthopedics revenue: $2.2 billion (+2.5 percent)
– 2019 total revenue: $5.1 billion (+4.8 percent)
– Number of employees: 17,500
– Headquarters: London
– CEO: Roland Diggelman
6. NuVasive
– 2019 revenue: $1.2 billion (+6 percent)
– Number of employees: 2,800
– Headquarters: San Diego
– CEO: Chris Barry
7. DJO
– 2019 net sales: $1.1 billion (+2.7 percent)
– Number of employees: 5,500
– Headquarters: Dallas
– CEO: Brady Shirley
8. Globus Medical
– 2019 net sales: $785.4 million (+10.2 percent)
– Number of employees: 1,800
– Headquarters: Audubon, Pa.
– President and CEO: David Demski
9. Integra LifeSciences
– 2019 revenue: $1.5 billion (+3.1 percent)
– Total orthopedics and tissue technologies revenue: $521.4 million (+2.5 percent)
– Number of employees: 3,000
– Headquarters: Princeton, N.J.
– President and CEO: Peter Arduini
10. Ossur
– 2019 net sales: $686.3 million (+11.9 percent)
– Number of employees: 4,000
– Headquarters: Reykjavik, Iceland
– President and CEO: Jon Sigurdsson
More articles on devices:
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