MEDTRONIC SPINE TAKES MARKET SHARE (Orthopedics This Week)
Medtronic, Inc.’s fourth quarter spine revenue of $811 million was flat, but the company gained market share for the first time since the fourth quarter of 2007. That math doesn’t say much good about the overall spine market.
Outperforming the Market
Source: Medtronic, Inc.
If you exclude sales of balloon kyphoplasty, the company’s core spine business grew in the low single-digits on a constant currency basis globally and in the U.S. The company believes it outperformed the U.S. market and market share was gained on both a sequential and year-over-year basis.
BMO Capital Market analyst Joanne Wuensch said core spine sales experienced “nice growth” in the U.S. while the company estimated that it has increased its share by 2% in the past year. “In our spine model, which includes Kyphon, the improvement is a bit less pronounced, but still remarkable, as the company gained share for the first time since CY4Q07; we estimate the company’s share increased to 35.1% from 34.7% y/y.”
In a May 21, 2013 announcement, the company said the core spine business continues to see “solid adoption of its new products and ...
