J&J’s MedTech Grows 5.4% to $34B, Heightens Pressure on Stryker
Johnson & Johnson’s MedTech segment grew 5.4% to $34 billion in 2025, with cardiovascular sales up 15.8% to $8.9 billion after Shockwave and Abiomed acquisitions, intensifying competition for Stryker. J&J expects stronger 2026 growth from new electrophysiology, surgery and vision launches but faces procurement headwinds in China and $500 million in tariffs.
1. Strong 2025 MedTech Growth at J&J
J&J’s MedTech segment delivered nearly $34 billion in sales during 2025, up 5.4% on an operational basis. Cardiovascular revenues surged 15.8% to $8.9 billion after the Shockwave and Abiomed acquisitions, while organic MedTech sales rose 4.3% driven by surgical vision, wound closure and electrophysiology gains.
2. Intensified Competition for Stryker
The rapid expansion in J&J’s cardiovascular intervention business and 15 major product launches intensify pricing and innovation pressure on Stryker across orthopedics, neurotechnology and surgical markets. J&J now leads in four of the largest cardiovascular intervention segments, narrowing Stryker’s competitive edge.
3. 2026 Outlook and Challenges
J&J projects improved MedTech growth in 2026, fueled by launches such as Varipulse in electrophysiology, Ethicon4000 in surgery and the Oasys Max family in vision. However, continued volume-based procurement headwinds in China and approximately $500 million in tariffs are expected to weigh on margins, while a planned DePuy Synthes spin-off by mid-2027 could alter long-term dynamics.