Owing to benefits such as improved patient care outcomes & quality of orthopedic care, time-saving, accuracy, user-friendly features, customizable solution, low-cost maintenance, the orthopedic software is experiencing rapid adoption as opposed to traditional paper-based patient charts, thus fostering progress in global orthopedic software market
Covid-19 Impact & Market Status
The covid-19 pandemic several affected all the markets across the world including the global orthopedic software market. Like other healthcare departments, the orthopedic and musculoskeletal departments have also expedited reliance on the virtual care delivery models, thus improving growth in the global orthopedic software market. Most importantly the relaxation and improvements in certain guidelines by the governments enabled faster, implementation of these technologies. Rapid adoption of payment models to improve virtual patient care in recent years, more specifically during the pandemic times has reflected favorable growth outcomes for the global orthopedic software market. Thus, although the pandemic disrupted the global orthopedic software market, at the same time it gave a great boost to the Global Orthopedic Software Market.
Practice Management Software Orthopedic Product Segment is the Most Attractive Segment
The global Orthopedic Software market is classified into orthopedic -pre-operative planning, practice management software, browser-based EHR and PM software, RCM, PACS, and HER on the basis of product. Among these, the practice management software product segment secured the top-most position in terms of revenue in the global Orthopedic Software market and is poised for substantial growth in future. The practice management software in orthopedics provides streamlined workflows and processes, increases efficiency, enables HER integration, and improves accuracy in documentation. Thus demand boost in of practice management software in the healthcare system has improved its market share of global Orthopedic Software market.
On-premises Segment to Remain Atop
The global Orthopedic Software market is classified into on-premises and on-cloud on the basis of deployment type. Among these, the on-premises data orthopedic software offers visual exploration and analysis of data, in-house deployment of resources within IT infrastructure, complete control over security and customization, better privacy and security and many other benefits which are the key factors increasing its demand in the global Orthopedic Software market.
Orthopedic Imaging to Ensure Revenue Maximization
The global Orthopedic Software market is classified into orthopedic imaging, spine surgery, surgical navigation, preoperative planning, veterinary, analysis, visualization, and others on the basis of applications. Among these, the orthopedic imaging segment held the largest market share in global Orthopedic Software market due to factors such as increased vehicular accidents across the world, increasing older population, increasing demand for non-invasive analysis of body's internal anatomy, rising traumatic injuries and other.
Hospitals to Ensure Highest Demand For Orthopedic Software
The global Orthopedic Software market is classified into healthcare centers, hospitals, and ambulatory centers on the basis of end user. The orthopedic software are witnessing higher demand from hospitals as the software provides orthopedic surgeons with advanced tools to enhance visualization of complex cases, improve medical care efficiency, reduce time and healthcare costs, improve data management, and many other benefits.
North American Region to Witness Huge Investments
North America is the most mature markets in the global orthopedic software market due to rising burden of musculoskeletal conditions, high disposable income people demanding computer-assisted orthopedic surgeries for faster recovery, advanced medical facilities in countries line US and Canada, and presence of leading firms such as Merge Healthcare, GE Healthcare, NextGen Healthcare, Greenway Health, Medstrat and other such prominent providers.
Growing importance of high tech diagnostic outcome, therapeutics, management, and prevention of certain health conditions governing the musculoskeletal wellbeing among patient pools to induce rapid adoption of sophisticated orthopedic software solutions
Rapid end-use applications such as orthopedic imaging, spine surgery, surgical navigation, preoperative planning, veterinary, analysis, visualization, and others are fostering remarkable progress in global orthopedic software market.
Advantages such as better management of administrative functions, surgical safety, improved accuracy, significantly reductions in incidences of complications, great potential of precision medicine and personalized therapy for orthopedic disorders encourage further adoption. These factors have led to rapid development of global orthopedic software market ensuring an overall market value of USD 600 Million by 2028 with an annual growth rate of 8.8% from 2021 to 2028.
Orthopedic software is a specialized medical software system uniquely designed for Orthopedists. Orthopedic software are therefore extensively used across multiple end user segments including healthcare centers, hospitals, and ambulatory centers.
Factors such as development of various revolutionary technical systems in recent years, individualization and precision of various surgeries, rising adoption of EHRs and other eHealth solutions, rising pressure for improving quality of care and demand for reducing healthcare costs have made orthopedic software a superlative option.
However, data privacy issues surrounding patient data, fractures complexities making it challenging for efficient diagnosis and treatment, inaccuracies in post-operative results, etc are some challenges facing the global orthopedic software market. Furthermore, the emergence of powerful new research such as mathematics, computer science, and orthopedics, funding for universities and medical centers for high-impact innovations, widespread adoption of new technologies enabling providers enabling remote care and other innovative solutions are anticipated to provide more opportunities for global orthopedic software market.
The major players in global Orthopedic Software market are Materialise NV, Merge Healthcare Incorporated, Philips Healthcare, GE Healthcare, McKesson, NextGen Healthcare, Greenway Health, CureMD Healthcare, Medstrat, and Brainlab AG. These firms are dominating the global orthopedic software market through innovative research and development in the field of digital orthopedics. These firms provide one of the most comprehensive portfolios in the world. The software provided by these firms are preferred all around the world as the software systems while providing advanced patient care and delivers economic value to health care systems worldwide.
Latest Innovations in the Global Orthopedic Software Market: a Snapshot
- PrecisionOS, the innovative orthopedic VR software company, Canada is all set to launch its FDA cleared surgical planning VR tool, InVisionOS. The surgical planning VR tool is uniquely designed to explore each patient’s unique anatomy which will further help the patients to plan and prepare for surgery. The tool has the ability to produce 3D reconstructions from CT scans in just few seconds.
- Vision 7.5 orthopedic software has been unveiled by Breg Inc. in October 2021 to allow more productivity and precision offerings across sports clubs, hospitals, and clinics. The software reduced administrative complexities and improves patient care.
Orthopedic Software Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 600 Million|
|Growth Rate||CAGR of 8.8% during 2021-2028|
|Segment Covered||Product, Deployment, End User, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and South Africa|
|Key Players Profiled||Materialise NV, Merge Healthcare Incorporated, Philips Healthcare, GE Healthcare, McKesson, NextGen Healthcare, Greenway Health, CureMD Healthcare, Medstrat, and Brainlab AG.|
Key Segments of the Global Orthopedic Software Market
Product Overview, 2018-2028 (USD Million)
- Orthopedic -Pre-operative Planning
- Practice Management Software
- Browser-based EHR and PM Software
Deployment Overview, 2018-2028 (USD Million)
Applications Overview, 2018-2028 (USD Million)
- Orthopedic imaging
- Spine surgery
- Surgical navigation
- Preoperative planning
End User Overview, 2018-2028 (USD Million)
- Healthcare centers
- Ambulatory centers
Regional Overview, 2018-2028 (USD Million)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa