NEW BRUNSWICK, N.J.—At a meeting with the investment community, members of Johnson & Johnson’s executive committee and leaders from the Innovative Medicine and MedTech businesses highlighted the company’s overarching strategy, its Innovative Medicine and MedTech pipelines and long-term financial outlook. The company noted that it is “uniquely positioned to lead the next wave of health care innovation” through transformational science and technology. Johnson & Johnson provided long-term financial targets and expects at least 3 percent operational sales growth in 2025, as well as 5 percent to 7 percent operational sales CAGR from 2025 to 2030.

J&J stated that its MedTech business is “delivering growth through our differentiated pipeline and geographic expansion.” The company said it expects to build upon its market-leading position with continued expansion into high-growth markets. As a result, it expects the MedTech business to grow operational sales in the upper range of its markets, which are projected to grow 5 percent to 7 percent through 2027 while generating one-third of sales from new products in 2027.

Within the Vision segment, J&J noted that its Acuvue family of contact lenses is driving growth in the category, with the recent U.S. and EMEA launch of Acuvue Oasys Max 1-Day leading the way. The Tecnis family of IOLs enables best-in category low-light vision combined with violet light filter to protect from UV light and screens, according to the company. Next-generation products include Tecnis Odyssey and Tecnis PureSee IOLs, with launches expected in 2024.

“We are growing faster than the market today and we expect to be able to do so with our differentiated innovation,” Peter Menziuso, company group chairman, Vision, told the audience. “Our (vision) portfolio is broad and it addresses eye health needs across a patient’s lifetime.”

He continued, “The contact lens market is valued at $10 billion today and is projected to grow 5 percent to 7 percent annually through 2027. We are the number one leader in this space, the global market leader in contact lenses with our Acuvue family.”

Menziuso also addressed the company’s IOL products and its continuing innovations in treating an aging population and cataracts.

“For most of us, developing a cataract is not an if it’s a when,” Menziuso told the audience. “The patient need in this category is high and continues to grow and the IOL market is valued at $3 billion today and is projected to grow 5 percent to 7 percent annually. There is a significant opportunity for us to grow the global IOL market. In the next two years, we expect to see full market launches of our next-generation lenses, Tecnis PureSee and Tecnis Odyssey.”

In Innovative Medicine, the company is continuing to focus on areas of high innovation and higher growth while maintaining its industry-leading pipeline which is expected to deliver more than 20 novel therapies and more than 50 product expansions by 2030. In addition, by 2030, Johnson & Johnson’s Innovative Medicine pipeline and portfolio are expected to deliver 5 percent to 7 percent operational sales growth from 2025-2030.

Overall, the company set 2024 sales growth forecasts for between 5 percent to 6 percent. 

“Science and technology will advance human health more in the next decade than it has in the last century, leading to more effective and personalized treatment, earlier intervention, and smarter, less invasive health care,” said Joaquin Duato, chairman and chief executive officer. “We are excited to share today how the breadth of our scientific capabilities, diverse portfolio and robust pipelines uniquely position Johnson & Johnson to be a leader in this next wave of innovation while delivering strong financial performance.”