The global orthopedic market has been experiencing considerable growth over the past few years. With the rapid change in lifestyle the prevalence of disorders including obesity is increasing, which, in turn, is boosting the incidences of orthopedic problems. The treatment of an orthopedic problem, if done manually, is not only time-consuming but also increases the chances of errors. This issue is easily overcome by the deployment of orthopedic software in orthopedic specialty clinics, hospitals, and surgery centers. The orthopedic software allows surgeons or physicians to enhance the way of information management related to the treatment procedures and clinical data by effectively saving time. Therefore, the need for orthopedic software is rising dramatically owing to the mounting amount of time spent in maintaining crucial patient information and coordinating that information about the patient with other physicians. The surging population suffering from arthritis coupled with the rise in geriatric population is set to boost the market for orthopedic software across the globe.
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According to UnivDatos Market Insights (UMI)’ research report “Orthopedic Software Market”, the market is expected to witness a CAGR growth of around 7% during the forecast period 2021-2027F. An increase in demand for faster data sharing, particularly the growing number of orthopedic surgeries is proliferating the market growth. Orthopedic software is a viable alternative to the traditional paper-based system. The software technique improves medical treatment proficiency. Furthermore, the rising need to adopt advanced technology along with the growing patient population and development in the healthcare industry is leading to the faster adoption of orthopedic software.
Based on Product, the orthopedic software market is categorized into pre-operative planning and templating software, orthopedic electronic health records (EHR), orthopedic practice management, orthopedic picture archiving and communication systems (PACS), and orthopedic revenue cycle management. Among these, orthopedic EHR is anticipated to account for the largest share of the orthopedic software market. Orthopedics EHR software enables surgeons or physicians to store digital imaging alongside the rest of the patients' records. Using orthopedic EHR, various steps included in the treatment process, such as surgeries, post-operative follow-ups, and the patient's current range of motion become easier to document and manage. In addition to this, rising demand for data sharing and a faster treatment process is contributing to the segment growth. The EHR system is intended to assist physicians in developing personalized treatment plans for specific medical conditions by establishing patient education, prescriptions, and referral letters. This software's multifunctionality encourages its adoption, and it is expected to grow in popularity during the forecast period.
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Based on Application, the market is bifurcated into joint replacement, fracture management, and pediatric assessment. Of these, joint replacement acquires the largest share of the orthopedic software market. Knee replacements are among the most common and effective surgeries performed worldwide. Osteoarthritis, which causes decreased function and quality of life, is the most common reason for joint replacement surgery. Because of the rising incidence of chronic conditions, which has increased the number of joint surgeries performed and the number of revision surgeries performed, the adoption of orthopedic software is increasing significantly.
Furthermore, fracture management is expected to grow the most during the forecast period. The fracture management planning software allows surgeons to plan each procedure efficiently and avoid potential complications in surgery by providing a large prosthesis template library and intuitive procedure-specific tools.
North America Dominates the Orthopedic Software Market
Based on regions, the report provides a detailed analysis of the overall demand for Orthopedic Software in major regions including North America (US, Canada, Rest of North America); Europe (Germany, UK, France, Italy, Rest of Europe); Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific); and Rest of World.
According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the Orthopedic Software Market are Materialise NV, Brainlab AG, Medstrat, Inc., CureMD Healthcare, Greenway Health, NextGen Healthcare LLC, McKesson Corporation, GE Healthcare, Philips Healthcare, Merge Healthcare Incorporated.
“Orthopedic Software Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.
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Market Segmentation:
1. By Product (Pre-operative Planning and Templating Software, Orthopedic Electronic Health Record (EHR), Orthopedic Practice Management, Orthopedic Picture Archiving and Communication Systems (PACS), Orthopedic Revenue Cycle Management)
2. By Mode of Delivery (Cloud-Based, Web-Based, On-premises)
3. By Application (Joint Replacement, Fracture Management, Pediatric Assessment)
4. By End-User (Hospitals, Independent Orthopedic Clinics, Surgery Centers, Others)
5. By Region (North America, Europe, Asia-Pacific, Rest of World)
6. By Company (Materialise NV, Brainlab AG, Medstrat, Inc., CureMD Healthcare, Greenway Health, NextGen Healthcare LLC, McKesson Corporation, GE Healthcare, Philips Healthcare, Merge Healthcare Incorporated)
Key questions answered in the study:
1. What are the current and future trends of the orthopedic software industry?
2. How the industry has been evolving in terms of mode of delivery and product category?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the orthopedic software industry?
5. What is the customer orientation, purchase behavior, and expectations from the orthopedic software product suppliers across various countries?
Table of Content –
1 MARKET INTRODUCTION
2 RESEARCH METHODOLOGY OR ASSUMPTION
3 MARKET SYNOPSIS
4 EXECUTIVE SUMMARY
5 ORTHOPEDIC SOFTWARE MARKET COVID-19 IMPACT
6 ORTHOPEDIC SOFTWARE MARKET REVENUE (USD BN), 2019-2027F
7 MARKET INSIGHTS BY PRODUCT
8 MARKET INSIGHTS BY APPLICATION
9 MARKET INSIGHTS BY MODE OF DELIVERY
10 MARKET INSIGHTS BY END-USER
11 MARKET INSIGHTS BY REGION
12 ORTHOPEDIC SOFTWAREMARKET DYNAMICS
13 ORTHOPEDIC SOFTWARE MARKET OPPORTUNITIES
14 ORTHOPEDIC SOFTWARE MARKET TRENDS
15 LEGAL & REGULATORY FRAMEWORK
16 DEMAND AND SUPPLY SIDE ANALYSIS
17 COMPETITIVE SCENARIO
18 COMPANY PROFILED
19 DISCLAIMER
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