An overview of C. R. Bard’s Surgical Specialties segment
C. R. Bard’s (BCR) Surgical Specialties segment contributes around 17% of the total revenues of the company. The segment reported an increase of ~3% in net sales in 2015. Its product portfolio includes soft tissue repair products, performance irrigation devices, and biosurgical products. The growth was driven primarily by strong sales of hernia repair and biosurgery products.
Key growth drivers
In 2015, whereas US net sales increased by approximately 7%, international sales decreased by ~8% due to the impact of foreign currency headwinds. However, on a constant currency basis, international revenues increased by ~2%. Soft tissue repair product sales increased by ~4% in 2015, whereas biosurgery product sales grew by ~14%.
C. R. Bard’s Surgical Specialties segment’s future growth is expected to be driven primarily by its broad portfolio of hernia repair products. Its products range from synthetic and hybrid to natural tissue and antibiotic coatings. The company has focused on three key strategies for product expansion, focusing on product offerings, surgeon education, and its preclinical and clinical data suite.
Some key products in the Surgical Specialties segment include the Phasix family of bioresorbable mesh, the Echo PS (positioning system), Progel sealant, and Arista hemostats. According to C. R. Bard’s estimates, the company represents approximately 5% of the total market and therefore has a significant growth potential.