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This statistic highlights Stryker Corp’s Revenue by Segment, split between Med Surg, Neurotechnology and Spine, and Orthopedics, reported on a quarterly basis.
|Revenue by Segment||Q3 2020||Q2 2021||Q3 2021||Contribution in Q3 2021|
|Neurotechnology and spine||$0.82||$0.91||$0.87||21%|
(All figures in billions, except percentages)
The total revenue generated by the company grew by 8.31% on a year-on-year basis, from $3.73 billion in Q3 2020 to $4.04 billion in Q3 2021. However, when compared to Q2 2021, where the revenue generated was $4.27 billion, the decline in revenue was 5.38% on a quarterly basis.
Sales are primarily recognized when the company transfers control to the customer, which can occur on the date of shipment, the date of customer receipt, or, in the case of most Orthopedics products, when the company receives a purchase order and appropriate notification that the product has been used or implanted. The majority of products and services are transferred to clients at a single point in time, with other service transfers occurring over time.
Stryker Corp’s revenue can be further bifurcated into the following segments:
Surgical equipment, patient and caregiver safety technologies, endoscopic and communications systems (Endoscopy) and navigation systems (Instruments), emergency medical equipment, patient handling, and intensive care disposable products (Medical), reprocessed and re-manufactured medical devices (Sustainability), and other medical device products are all available from Med Surg.
The total revenue generated from this segment has been increasing every quarter. The revenue increased by 0.57% on a quarterly basis, from $1.74 billion in Q2 2021 to $1.75 billion in Q3 2021. The year-on-year growth was 9.38% when compared to Q3 2020, where the revenue generated was $1.60 million. However, the contribution of this segment to the total revenue fell slightly from 42.82% in Q3 2020 to 42.19% in Q3 2021.
Neurotechnology and spine
Neurosurgical, neurovascular, craniomaxillofacial, and spinal implant devices are among the Neurotechnology and Spine items. Products for minimally invasive endovascular techniques, a comprehensive line of products for traditional brain and open skull-based surgical procedures, orthobiologic and biosurgery products, such as synthetic bone grafts and vertebral augmentation products, and minimally invasive products for the treatment of acute ischemic and hemorrhagic stroke are all included in the neurotechnology offers. Stryker is one of the top five Neurotechnology and Spine companies in the world.
The revenue generated from this segment declined slightly from $0.91 billion in Q2 2021 to $0.87 billion in Q3 2021. However, there was a 6.1% increase ona year-on-year basis, as compared to Q3 2020 where the revenue generated was $0.82 billion. This segment’s contribution to total revenue fell from 21.94% in Q3 2020 to 21.06% in Q3 2021.
Implants utilized in total joint replacements, such as the hip, knee, and shoulder, as well as trauma and extremities procedures, make up the majority of orthopedic products. Stryker provides breakthrough implant designs and specialized instrumentation to patients and physicians, making orthopedic surgery and recovery easier, faster, and more successful. As surgeons create novel surgical techniques, the firm provides them with the equipment and services they require. The Mako Robotic-Arm Assisted Surgical System was created to assist surgeons in providing patients with a unique surgical experience based on their diagnosis and anatomy.
The revenue generated from this segment declined slightly from $1.62 billion in Q2 2021 to $1.52 billion in Q3 2021. However, there was a 16% year-on-year increase when compared to Q3 2020 where the revenue generated was $0.82 billion. In Q3 2021, this segment contributes 36.75% to the company’s total revenue.
Stryker was incorporated in Michigan in 1946 as the successor company to a business founded in 1941 by Dr. Homer H. Stryker, a prominent orthopedic surgeon, and inventor of several medical products. Stryker Corporation is one of the world’s premier medical technology firms, dedicated to improving healthcare alongside its clients. The company provides cutting-edge Orthopedics, Medical and Surgical, and Neurotechnology and Spine products and services that assist patients and hospitals achieve better outcomes.
Mako Robotic-Arm Assisted Technology, Implants used in joint replacement and trauma surgeries, surgical equipment and surgical navigation systems; endoscopic and communications systems, emergency medical equipment, patient handling, and intensive care disposable products, neurosurgical, neurovascular, and spinal fusion products; and neurosurgical, neurovascular, and spinal fusion products are among the company’s products sold in over 75 countries through company-owned subsidiaries and branches, as well as third-party dealers and distributors. The majority of the products are sold directly to doctors, hospitals, and other healthcare facilities in the United States.
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