Orthopedic Software Market Review with Forecast Research Report 2016 - 2024
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The global orthopedic software market is segmented by type of software, end-user and mode of delivery. Based on type of software, the market can been divided into pre-operative planning & templating software, orthopedic EMR & Medical Billing software, practice management (PM) software, orthopedic picture archiving and communication systems (PACS) software, and orthopedics revenue cycle management (RCM) software. Based on end-user, the market is divided into hospitals, independent orthopedic clinics, surgery centers and others. The others segment includes nursing homes and research centers. The market based on mode of delivery is segmented by three types, namely, web-based, cloud based, and on premises systems. The procedures that the software assists in include joint arthroplasty and revisions, orthopedic trauma, limb deformity correction, osteotomy and pediatric and spinal assessment and is chosen by end users widely to meet the specific needs of planning such as deformity corrections and joint alignment calculation before commencing the surgery process.
Geographically, North America was observed to be the largest orthopedic software market due to extensive technological advancements in the region. Countries such as the U.S. and Canada have been successful in implementing eHealth and mHealth as well as advanced visualization systems in their healthcare system, which would in turn boost the orthopedic software market growth. The rising preference for minimally invasive procedures and constantly improving reimbursement scenario would further propel the market growth. Europe was observed to be the second largest market in the orthopedic software market owing to enhanced digitization of the healthcare processes and rise in geriatric population prone to knee ailments and falls.
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The major factor that would drive the market in Asia Pacific include the acceptance and demand for high end medical infrastructure in the region. China, Japan and India are the most developing countries in the region and hence would fuel the market growth for orthopedic software market. Also the Asia Pacific region is witnessing high incidence of bone disorders and lifestyle related knee, spine and cervical ailments, which would in turn boost the market for orthopedic software. However, the perceived lack of expertise by orthopedic physicians as well as medical staff regarding software usage and cost of installing the software for hospitals and clinics already operating on a conservative budget is likely to retrain the market in this region.
The major players operating in this market include Exscribe Orthopedic Healthcare Solutions, Materialise NV, Merge Healthcare Incorporated, Brainlab AG, CureMD, Medstrat, Inc., HealthFusion Inc., McKesson Corporation, and Greenway Health among other significant players worldwide.
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