By the report published by the experts, the scope of the global Orthopedic Software Market was projected at US$ 284.6 million in 2018 and is expected to develop by a CAGR of 5.8% for the duration of the forecast. Increasing implementation of preoperative planning, orthopedic EHR, templating software is the most important reason boosting the development. Consistent with the Becker’s Hospital Review 2017, over and above 90% of orthopedic physicians in the U.S.A were using the orthopedic EHR method.
The necessity for orthopedic software gets up owing to the growing sum of the time consumed by the orthopedic doctor or surgeon in preserving critical paperwork of the patient and matching up that information relating to the patient with additional physicians. Orthopedic software helps in the precise distribution of patients’ information about medicinal factors. Orthopedic software refers to preserving electronic health records (EHR) and likewise directs doctors at the time of operating the patients. Similarly, it assists them in making a pre-operative plan that can be utilized such as guidance at the time of surgical treatment. This procedure, if done manually, is not only heavily time-consuming but likewise upsurges the probabilities of presenting a mistake. This problem is effortlessly overcome by setting up orthopedic software in orthopedic specialty clinics, hospitals, and surgery centers.
The growth in the populace suffering from arthritis, particularly osteoarthritis all over the world, together with growth in elderly inhabitants is set to boost the orthopedic software industry all over the world. The growth in sports created injuries along with injuries owing to road accidents will cause an upsurge in orthopedic actions and therefore influence the development of the market for orthopedic software.
An increase in demand for more rapid distribution of data, particularly concentrated on the increasing number of orthopedic surgical treatments is expected to additionally boost the market. For example, consistent with the National Inpatient Sample survey 2017, the yearly number of Total Hip Replacement (THR) and Total Knee Replacements (TKR) in the U.S.A. are expected to touch 0.63 million and 1.28 million procedure correspondingly by 2030.
The global orthopedic software market can be classified by Application, Method of Distribution, Product, and Region. By Application, it can be classified as Fracture Management, Orthopedic Surgeries, Joint Replacement, Pediatric Assessment, and Others. By Method of Distribution, it can be classified as On-Premise, Cloud / Web-Based. By Product, it can be classified as Orthopedic RCM, Orthopedic Practice Management, Preoperative Planning /Digital Templating Software, Orthopedic PACS, Orthopedic HER, and Others.
By Region, the global orthopedic software industry can be classified as North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa. North American region responsible for a most important share of the market. It is tracked by Europe. The foremost share is credited to the greater implementation of the software in Canada and the U.S.A. The increasing populace of aging persons and growing hip and knee associated difficulties have likewise steered to the augmented demand. As stated by the American Academy of Orthopedic Surgeons (AAOS) revision from 2017, every single year more than 7 million people in the U.S.A undertake surgical treatment for knee or hip replacement. This greater number of surgical treatments indicates the augmented load of several orthopedic complaints. On the other hand, bigger implementation of data sharing and orthopedic EHR is constantly boosting the regional demand for orthopedic software.
Europe was witnessed to be the subsequent biggest market for orthopedic software due to improved digitization of the healthcare procedures and growth in elderly people susceptible to complaints regarding knee.
In contrast, owing to the increased infiltration of healthcare IT together with increasing alertness of the customers in the emerging nations for example China, Asia Pacific is expected to record the speedy CAGR during the period of forecast. Moreover, growth in orthopedic processes is an additional reason important for the development of the orthopedic software market. Such as, as stated by the World Health Organization (WHO), sports deformities and injuries were the fifth maximum communal part required treatment in 2017, in Asian nation-states. India and China are the maximum developing nation-state within the region and therefore would power the development of the market for orthopedic software.
Yet, the apparent shortage of proficiency by orthopedic physicians along with medicinal staff about the usage of software and the price of setting it up for the clinics and hospitals which are even now functioning on a conventional financial plan is expected to restrain the market within this province.
Some of the important companies for the orthopedic software industry are: All Script Healthcare Solution Inc., Next Gen Healthcare LLC, Med Strat Inc., Green Way Health LLC, Cure MD Healthcare, Dr. Chrono Inc., Materialise NV, Brain Lab, Athena Health, McKesson Corporation, Health Fusion Inc., Merge Healthcare Incorporated, Exscribe Orthopedic Healthcare Solutions, and IBM.
Orthopedic Software Product Outlook (Revenue, USD Million, 2014 - 2026)
• Digital Templating/ Preoperative Planning Software
• Orthopedic EHR
• Orthopedic Practice Management
• Orthopedic PACS
• Orthopedic RCM
Orthopedic Software Mode of Delivery Outlook (Revenue, USD Million, 2014 - 2026)
Orthopedic Software Application Outlook (Revenue, USD Million, 2014 - 2026)
• Orthopedic Surgeries
• Fracture Management
Orthopedic Software Regional Outlook (Revenue, USD Million, 2014 - 2026)
• North America
• the Asia Pacific
• South Korea
• Latin America
• South Africa
• Saudi Arabia
Research Support Specialist, USA