Dublin, Dec. 21, 2020 (GLOBE NEWSWIRE) -- The "Orthopedic Software Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
Orthopedic software is an alternate for the antiquated system, based on paper records. Orthopedic software technique helps to enhance medical proficiency in orthopedic surgeries and treatment. According to OECD Health Statistics 2019, the total knee replacement rates have doubled worldwide from 2000 to 2016. Furthermore, each year, over 2.2 million people undergo an elective hip or knee replacement in OECD countries.
Also, technological advancements in the orthopaedic devices increased the demand for adoption of healthcare IT technologies to optimise the workflow. Thus,orthopaedic software is a solution that can create a sustainable path for the growth of the orthopedic industry in the future. In addition, other factors, such as increasing geriatric population, rising R&D (along with technological advancements), and adoption of minimally invasive surgery in developing and developed countries are contributing to the growth of the orthopedic software market. However, lack of skilled professionals is anticipated to hinder the market growth over the forecast period.
Key Market Trends
The Digital Templating/Preoperative Planning Software Segment is Expected to Grow at Rapid Pace
Preoperative planning for elective total hip arthroplasty (THA) is becoming important, as it prevents complications and also optimizes important geometric parameters, such as leg length, center of rotation, and femoro-acetabular offset adjustments.
- With the increasing use of digital radiography, many digital planning software programs are being offered, which are delivering high precision. Combining digital radiography with digital templating has the potential to eliminate errors associated with the manual manipulation of acetate templates and analog radiographs.
- Furthermore, the companies are innovating new software for precision in total hip replacement (THR) and total knee replacement (TKR). For an instant, in November 2018, MediCAD Hectec GmbH has launched three preoperative planning tools, mediCAD 4.0 as well as mediCAD Hip 3D and mediCAD Spine 3D to expand its portfolio.
- Thus, this is likely to further augment the growth of the segment.
North America is Expected to Dominate the Market, in Terms of Revenue, and Asia-Pacific is Poised to Grow at the Fastest Rate
The United States orthopedic software maket accounts for the significant share in the global orthopedic software market. As per the American Academy of Orthopedic Surgeons (AAOS), over 7 million people in the United States undergo hip or knee replacement surgery each year. This high number of surgeries indicates the increased burden of orthopaedic disorders in the country. Moreover, population aging is also expected to drive the total number of orthopedic procedures. According to the US Census Bureau analysis, the elderly population is expected to nearly double in the next 25 years.
The Asia-Pacific region is expected to register the highest growth, during the forecast period. As the healthcare IT industry is growing in this region, the adoption of orthopedic software solutions is expected to rise during the forecast period.
Key Topics Covered:
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Aging Population
4.2.2 Increasing Orthopedic Problems and Injuries
4.2.3 Rising Adoption of Minimal Invasive Surgeries
4.2.4 Increasing R&D and Technological Advancements
4.3 Market Restraints
4.3.1 Absence of Healthcare Insurances in the Emerging Economies
4.3.2 Lack of Skilled Professionals
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Product
5.1.1 Digital Templating/Preoperative Planning Software
5.1.2 Orthopedic Electronic Health Record (EHR)
5.1.3 Orthopedic Practice Management
5.1.4 Orthopedic Picture Archiving and Communication Systems (PACS)
5.1.5 Orthopedic Revenue Cycle Management
5.1.6 Other Equipment and Systems
5.2 By Mode of Delivery
5.2.1 Cloud/Web Based
5.2.2 On-premise
5.3 By Application
5.3.1 Orthopedic Surgery
5.3.2 Fracture Management
5.3.3 Other Applications
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Italy
5.4.2.5 Spain
5.4.2.6 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 South Korea
5.4.3.6 Rest of Asia-Pacific
5.4.4 Middle-East & Africa
5.4.4.1 GCC
5.4.4.2 South Africa
5.4.4.3 Rest of Middle-East & Africa
5.4.5 South America
5.4.5.1 Brazil
5.4.5.2 Argentina
5.4.5.3 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Athenahealth Inc.
6.1.2 Brainlab AG
6.1.3 CureMd Healthcare
6.1.4 GE Healthcare
6.1.5 Greenway Health LLC
6.1.6 IBM Corporation (Merge Healthcare Inc.)
6.1.7 Materialise NV
6.1.8 Medstrat Inc.
6.1.9 Nextgen Healthcare Information Systems LLC
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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