11.20.12
Attitude is everything, and the data presented at AdvaMed was compelling. The medical device industry is recovering from the Great Recession. In 2011, total revenue for U.S. therapeutic device companies reached $76 billion, an increase of 5 percent compared with 2010.1 Six of the major disease categories saw their top lines increase in 2011.
The orthopedic segment generated the greatest revenues of $1.7 billion (9 percent growth compared with 2010). According to Ernst & Young’s Pulse of the Industry report, this largely was driven by Stryker Corp. and the effect of its 2011 acquisition of Boston Scientific Corp.’s neurovascular group. The Multiple Disease State category was up 4 percent to $893 million, largely fueled by Sunnyvale, Calif.-based Intuitive Surgical Inc., which, thanks to its Da Vinci robotic surgical system, grew 27 percent last year to $344 million.
Net income performance of the six disease categories in Chart 1 also improved in 2011. The cardiovascular segment represented 86 percent of the total increase in therapeutic devices, mostly due to recovery from charges that had negatively impacted Natick, Mass.-based Boston Scientific’s bottom line in 2010.
In the diagnostic sector of medical devices, imaging led the growth curve with an 8 percent revenue increase in 2011, followed by non-imaging diagnostics, which increased sales by 4 percent.
The orthopedic segment generated the greatest revenues of $1.7 billion (9 percent growth compared with 2010). According to Ernst & Young’s Pulse of the Industry report, this largely was driven by Stryker Corp. and the effect of its 2011 acquisition of Boston Scientific Corp.’s neurovascular group. The Multiple Disease State category was up 4 percent to $893 million, largely fueled by Sunnyvale, Calif.-based Intuitive Surgical Inc., which, thanks to its Da Vinci robotic surgical system, grew 27 percent last year to $344 million.
Net income performance of the six disease categories in Chart 1 also improved in 2011. The cardiovascular segment represented 86 percent of the total increase in therapeutic devices, mostly due to recovery from charges that had negatively impacted Natick, Mass.-based Boston Scientific’s bottom line in 2010.
In the diagnostic sector of medical devices, imaging led the growth curve with an 8 percent revenue increase in 2011, followed by non-imaging diagnostics, which increased sales by 4 percent.