Integra’s Q1 financials indicate rebound in neurosurgical procedures following significant delays in 2020, says GlobalData

Following the recent release of Q1 2021 financial information from Integra LifeSciences, Dominic Tong, Medical Device Analyst at GlobalData, a leading data and analytics company, offers his view:

“Integra reported a Q1 2021 neurosurgery growth of 2.3% and 5.4% when compared to Q1 2020 and Q1 2019, respectively. Compared with a 6.7% decrease in Q4 2020 compared to Q4 2019, revenues are returning, even amid a global third wave of COVID-19 cases. However, recovery in Integra’s surgical instruments segment continues to lag, as even an 11.8% improvement compared to Q1 2020 is 5.6% below its Q1 2019 performance.

“It is possible that quicker recovery in neurosurgery specifically suggests that many neurological procedures that were delayed last year are reaching the point where they cannot be delayed any longer without significant risks to patient health; general surgery procedures, on the other hand, can continue to be delayed.

“Stryker’s recently reported Q1 financials suggest a similar story. Its neurotechnology segment in Q1 grew 18.1% compared to 2020 and 21.7% compared to 2019, while its spine segment grew significantly less at 6.5% and 2.5% compared to 2020 and 2019, respectively. Spinal surgeries are generally elective, so the significantly larger growth in neurotechnology suggests that backlogged procedures are now being completed.

“Even as countries struggle to contain surging COVID-19 cases, these financial results suggest that many delayed neurological procedures have become urgent, and that this market will remain relatively resilient if elective procedures are again delayed.”

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