Sales up but only in certain segments, J&J Surgery off slightly Johnson & Johnson J&J reported on Wednesday a 4.3% increase in 2024 over 2023 revenues. Looking deeper, the Medtech segment reported a 4.8% increase to $31.9 billion. Breaking out the Medtech businesses, Cardiovascular represented almost of all of the gain, rising 21.4% in the year. Orthopedics rose 2.4%, Vision rose 1.5%. Surgery declined 1.9%. Most of the surgical decline appears to be around endocutters and energy devices but we are still working to verify this information. Abbott Abbott, also reporting on Wednesday, announced their Medical Device unit saw a 13.7% increase in revenues with Diabetes Care and Structural Heart showing particularly strong growth. All product groups grew during the year. Electrophysiology, Rhythm, Heart Failure, Vascular, and Neuromod all grew over 5%. Diagnostics dropped 6.5% due to lower demand for Covid 19 test kits. Summary These two medtech Top 5 companies showed strength in CV and Diabetes. J&J’s decline in its Surgery franchise (second largest globally after Medtronic) is a topic worth following as we move through 2025. Please contact Tony Freeman attfreeman@asfreeman.com with questions and comments.
