— Business review — Healthcare review
Healthcare review
Healthcare business area delivers double-digit growth in all market segments
Our Healthcare business area comprises the Dental, Drug Delivery and Surgery market segments, which produce and market a broad range of products, such as dispensers, cartridges, mixers, tips, syringes, pen injectors for subcutaneous delivery of biologicals and delivery devices for bone repair and tissue treatment. These devices are used in a variety of applications by our end-customers. In the Dental business, our products are used for prosthetics, restoratives, anesthetics and aesthetics. The pen injectors produced and marketed by our Drug Delivery market segment are used to apply fertility drugs, growth hormones and to deliver medical substances to treat diabetes, osteoporosis and rare diseases. The delivery devices produced and marketed by our Surgery market segment are used by our customers to apply bone cement in trauma surgeries and to apply other medical substances for internal and external wound healing.
Key figures
January 1 - June 30
|
millions of CHF |
|
2022 |
|
2021 |
|
Change in +/–% |
|
+/–% adjusted 2) |
|
+/–% organic 3) |
|
Revenue Dental |
|
71.3 |
|
60.7 |
|
17.4 |
|
15.7 |
|
15.7 |
|
Revenue Drug Delivery |
|
23.8 |
|
21.3 |
|
11.8 |
|
16.8 |
|
16.8 |
|
Revenue Surgery |
|
6.7 |
|
5.8 |
|
16.2 |
|
16.2 |
|
16.2 |
|
Total revenue Healthcare 1) |
|
101.9 |
|
87.9 |
|
16.0 |
|
16.0 |
|
16.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Business area cost of goods sold |
|
–38.1 |
|
–33.5 |
|
–13.8 |
|
|
|
|
|
Business area gross profit |
|
63.8 |
|
54.3 |
|
17.3 |
|
|
|
|
|
Business area gross profit margin |
|
62.6% |
|
61.9% |
|
|
|
|
|
|
1) Revenue from external customers.
2) Adjusted for currency effects.
3) Adjusted for acquisition and currency effects.
Revenue by market segment
H1 2022
Continuing impressive volume growth
The Dental market segment achieved an impressive revenue of CHF 71.3 million, 15.7% above the same period last year, driven by robust demand from our customers across all regions and particularly in the US.
Our coverage expansion initiative showed excellent traction, especially in Brazil and India, with an increase of about 50% year on year.
Innovation – a key driver
The Drug Delivery market segment generated CHF 23.8 million in revenue, which corresponds to an increase of 16.8% compared to the same period last year. The pen injector market is projected to continue growing at 7% CAGR in the next three years. Key trends include growth in diabetes due to obesity, increasing self-administration at home to reduce healthcare costs, an ageing population, and new therapies for rare diseases.
In May 2022, medmix Drug Delivery (under its Haselmeier™ brand) launched its innovative autoinjector, PiccoJect ™, at Pharmapack in Paris. PiccoJect™ is a highly compact and customizable two-step autoinjector designed for high performance in a small device. It has an extremely low part count – only eight – reducing manufacturing and scale-up challenges. The pre-filled syringe-based autoinjector market is projected to grow with more than 10% CAGR due to strong growth in biologics and biosimilars.
In January 2022, we signed a lease contract for our new site in Atlanta, USA, which will support our Drug Delivery customers in providing their products to the US market. Our offering includes final assembly, thereby cutting carbon emissions from complex supply chains. The site will also support US customers in our Dental and Surgery market segments.
Steady recovery
Revenue in our Surgery market segment was CHF 6.7 million in the first half of 2022, a growth of 16.2% compared to the same period last year. Surgical procedures resumed normal schedules after the various pandemic-related delays, and we saw continued strong growth across all market segments. Tissue bank customers growth exceeded expectations due to growing adoption of human tissue use in trauma patients. We are progressing well on our strategic projects with large OEMs, with at least one project in prototype stage this year.