Q120 was looking like a strong first quarter following Q420’s 4.5% YoY growth, the highest rate seen in the US Total Joints Market for several years. But, the COVID-19 pandemic and the institution of stay-at-home orders in most US states put the brakes on elective procedures in March, resulting in -4.8%, according to SmartTRAK Financial Dashboard. The postponement of procedures and the resulting downturn in revenue late in Q120 also resulted in orthopedic companies withdrawing guidance due to uncertainty about the timing of recovery.
Looking ahead to Q220, the shutdown of essentially all but the most urgent total joint procedures through April may have resulted in even larger revenue declines compared to Q1. Many states in the US are now reopening and are allowing elective and non-urgent orthopedic procedures to return.