JNJ’s knee market position
Johnson & Johnson (JNJ) is the third-largest player in the global knee implant market and the second-largest player in markets outside the United States. The company is focused on further improving its market position through key product launches and inorganic growth. It’s also focused on gaining more market share from its competitors, which include Zimmer Biomet Holdings (ZBH), Stryker (SYK), and Smith & Nephew (SNN). The global knee implant market is estimated to reach $8.8 billion by 2022, growing at a compound annual growth rate of 3% from 2017 to 2022.
In the first quarter of 2018, knee implant sales were reported to be $387 million, representing a YoY (year-over-year) fall of 2.8% due to competitive pressures in the United States and sales falls in the EMEA (Europe, the Middle East, and Africa) region.
Attune knee system
JNJ’s Attune knee system is a comprehensive integrated system designed to improve the range of motion for patients. More than half a million patients in 43 countries have benefited from JNJ’s Attune knee system. The company has been focused on expanding its Attune knee system globally. It has expanded its Attune portfolio with the launch of the Attune revision system, stemmable tibia, and cementless reconstruction plates. However, recently, a number of cases of premature failure of JNJ’s Attune knee system have been reported.
In February, JNJ announced its acquisition of Orthotaxy, which is expected to strengthen its position in the robot-assisted surgery market in the orthopedics space. The acquisition has given JNJ access to a portable, low-cost robotics system, which it plans to launch in 2020. With the launch of the new robot-assisted surgical system, the company is expected to enhance its competitiveness and growth prospects in the knee implant market.
In the next article, we’ll discuss JNJ’s spine business performance and growth strategy.