Musculoskeletal conditions may be causes pressure on patients and healthcare systems as well. The various common occurring musculoskeletal conditions that are observed globally such as osteoarthritis, osteoporosis, rheumatoid arthritis, and lower back pain. Orthopedic software Market provide advantages over traditional system, based on paper record. This technique deals with the medical proficiency and accuracy in the treatment. It also includes pre-operative planning system. These software’s helps surgeons through medical database of diagnoses, histories, tests, treatment plans and surgical procedures.
Market Dynamic - Orthopedic Software Market
The orthopedic software market has been seeing tremendous growth from the past few decades. The primary growth factors behind the market growth are increasing incidence of orthopedic conditions due to the rising geriatric population and rising pressure to improve the quality of care and reduce healthcare costs. Likewise, rising adoption of EHRs (electronic health record) and other eHealth solutions. The orthopedic software automates the access to information and has the potential to streamline the clinician's workflow. Nevertheless, lack of skilled professionals to use orthopedic software research is the major restraining factor that could hamper the growth of the market.
COVID-19 Impact on Orthopedic Software Market Report
The COVID-19 pandemic had a noteworthy impact on the orthopedic software market as the COVID- 19 is associated with respiratory syndrome as the software helps to keep accuracy in records. Likewise, EHR solutions are playing vital role in improving the efficiency of billing by optimizing and simplifying billing with correct codes, results in decrease in manual errors. Such software’s are also helps in revenue management during COVID 19 pandemic. It also helps in the monitoring and treating patients. Hence orthopedic software market is positively affected the market growth.
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Orthopedic Software Market Segmental Overview
The study analyses global orthopedic software market based on type of product, mode of delivery, application, end users and geography.
Orthopedic Software Market by Type of Product
Based on the type of product the orthopedic software market is segmented into orthopedic picture archiving and communication systems (PACS), orthopedic Electronic health records, digital templating/pre-operative planning software, orthopedic Practice management and orthopedic revenue cycle management (RCM). The orthopedic picture archiving and communication systems (PACS) segment dominated the market in 2020 and is expected to maintain its dominance during the forecast period 2021-2027. It also provide digital templating software is integrated with orthopedic picture archiving and communication systems (PACS) hence demand for these software in the market increased.
Orthopedic Software Market by Mode of Delivery
The various mode of delivery available in the orthopedic software market is bifurcated on-premises software and cloud-based software. The on-premises segment accounted for the largest market share in 2020 owing to, increased control and safety of patient data offered by on-premise solutions. Nevertheless, availability of pocket-friendly locally installed orthopedic software which helps in financial and clinical workflow will drive the market growth.
Orthopedic Software Market by Application
The orthopedic software market finds its application in joint replacement, fracture management, pediatric assessment and others. The joint replacement segment is expected to account for the largest share of the market. The rising prevalence of chronic conditions results in the growing number of joint surgeries performed and, by extension, the number of revision surgeries conducted which will driving the market growth.
Orthopedic Software Market by End User
Depending on the various end users in the orthopedic software market is bifurcated into hospitals, ambulatory care centers and others (research centers, government organizations). The hospitals segment is likely to witness the largest market growth in the coming years. The factors that driving the market growth are growing demand for orthopedic software in hospitals due to its accuracy and potency.
Orthopedic Software Market Key Players
The major key players of market includes Materialise NV (Belgium), Brainlab AG (Germany), Medstrat, Inc. (US), CureMD Healthcare (US), Greenway Health (US), NextGen Healthcare LLC (US), McKesson Corporation (US), GE Healthcare (US), Philips Healthcare (Netherlands), Merge Healthcare Incorporated (US), IBM (US), Athena Health (US) and All Script Healthcare Solution Inc.(US)
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