Johnson & Johnson Reports $27.4 Billion MedTech Revenue for 2022, Outlines Strategic Focus Areas
Johnson & Johnson
Healthcare Product Manufacturers, Health Service Providers
On January 24, 2023, Johnson & Johnson (NYSE: JNJ) announced its Q4 and full-year earnings report for 2022.
Johnson & JohnsonMedical Devices 2022 Full-Year Revenue of $27.427 Billion, a year-on-year increase of 1.4%. Among them, surgical operations, orthopedics, interventional procedures, and ophthalmology accounted for the proportions of device total revenue respectively.35.33%、31.3%、15.68%、17.83%。
Ophthalmology and interventional fields have seen growth compared to last year, while spine, trauma, and surgical procedures have declined.
At JPM23, Johnson & Johnson CEOJoaquin DuatoMentioned in the discussion of medical device business,
Orthopedics, will transfer the business toFaster-growing segments；
Surgery, will focus on developmentRobotics and Digital Surgery；
Ophthalmology will focus on areas similar to presbyopia.
And have strong confidence in the growth of MedTech.The headline for me is that the MedTech market has significant potential and the MedTech market will continue to grow into the future.
In 2022, Johnson & Johnson's totalRevenue of $94.94 billion,An increase of 1.3% year-over-year; (excluding COVID-19 vaccine revenue, full-year 2022 revenue was $92.764 billion, up 1.5% year-over-year);Net profit of $17.94 billion, a decrease of 14% year-on-year; full-year earnings per share were $6.73, a year-on-year decrease of 13.8%. R&D investment was $3.84 billion, a year-on-year decrease of 18.6%, accounting for 16.2% of total revenue.
(2022 Johnson & Johnson Group Revenue Data by Business)
In terms of business scope, the three major business segments of Johnson & Johnson Group have respective revenues as follows:
Consumer Health Business: Total revenue for the full year of 2022 was US$14.953 billion, a year-on-year decrease of 0.5%.
(ThisIt was the last time Johnson & Johnson included its consumer business in its financial report. In September 2022, Johnson & Johnson officially spun off its consumer health products division into an independent company for listing, with the new company named Kenvue. On January 4, 2023, Johnson & Johnson announced that Kenvue would be listed on the New York Stock Exchange and apply for an initial public offering (stock code: "KVUE").）
Pharmaceutical Business: Full-year revenue for 2022 was $52.563 billion, a year-on-year increase of 1.7%.
Medical Technology Business (MedTech, namely the medical device segment)：
Revenue in Q4 2022 was $6.776 billion, a year-on-year decrease of 1.2%.
Total revenue for the full year of 2022 was $27.427 billion, a year-on-year increase of 1.4%; accounting for 28.9% of total income.
(Revenue Data of Johnson & Johnson's Major Business Segments)
In the medical device field, Johnson & Johnson's businesses are mainly divided into four categories: surgical, orthopedics, interventional, and ophthalmology, accounting for the proportion of total device revenue respectively.35.33%、31.3%、15.68%、17.83%。The income situation is as follows:
In the field of surgical operations,Total Revenue$9.69 billion, including advanced therapies（Advanced）45.69Billion USD, General Therapy (General) 5.121 Billion USD. Surgical instruments account for a significant portion of the total revenue from devices.Accounting for 35.33%。
Orthopedics Field, with a total revenue of$8.587 billion, including hip joints of 1.514 billion US dollars, knee joints of 1.359 billion US dollarsBillion USD, Trauma 28.71Billion USD, Spine/Movement and Others 28.43Billion dollars. OrthopedicsIn the total revenue of equipmentAccounting for 31.3%
Interventional Field, Total Revenue$4.3 billion，In the total revenue of equipmentAccounting for 15.68%
In the field of ophthalmology, the total revenue$4.849 billionIncluding ophthalmic surgery 1.306 billion, contact lenses and others 3.543 billion. OphthalmologyIn the total revenue of equipmentAccounting for 17.83%.
