Orthopedic Software Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Orthopedic Software Market is segmented by Product, Mode of Delivery (Cloud/Web Based and On-premises), Application, and Geography.

Market Snapshot

Orthopedic Software Market Image 1
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 7.58 %

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Market Overview

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.

Scope of the Report

Orthopedic software deals with a large amount of data from lab test results, including imaging during diagnosis and for follow-ups charts of the patient during recovery. For orthopedic surgeons, it has become mandatory to deal with a large amount of lab test results, especially when it comes to diagnostic imaging. For the sake of ease, orthopedic software, such as EHR, are being used currently in the orthopedic point of care.

By Product
Digital Templating/Preoperative Planning Software
Orthopedic Electronic Health Record (EHR)
Orthopedic Practice Management
Orthopedic Picture Archiving and Communication Systems (PACS)
Orthopedic Revenue Cycle Management
Other Equipment and Systems
By Mode of Delivery
Cloud/Web Based
On-premise
By Application
Orthopedic Surgery
Fracture Management
Other Applications
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle-East & Africa
GCC
South Africa
Rest of Middle-East & Africa
South America
Brazil
Argentina
Rest of South America

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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.
orthopedic.png

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.

Orthopedic Software Market - Growth Rate by Region - Image

Competitive Landscape

The orthopedic software market is experiencing consolidation, the companies are focusing on the merger and acquisition strategies and new product launches to improve their orthopedic software market specific product profile. For instance, in June 2018, eMedica has launched eVida Knee, software for planning orthopedic surgery. Key players in the market include Brainlab AG, GE Healthcare, Greenway Health LLC, IBM Corporation (Merge Healthcare Inc.), and Materialise NV, among others.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Rising Aging Population

      2. 4.2.2 Increasing Orthopedic Problems and Injuries

      3. 4.2.3 Rising Adoption of Minimal Invasive Surgeries

      4. 4.2.4 Increasing R&D and Technological Advancements

    3. 4.3 Market Restraints

      1. 4.3.1 Absence of Healthcare Insurances in the Emerging Economies

      2. 4.3.2 Lack of Skilled Professionals

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product

      1. 5.1.1 Digital Templating/Preoperative Planning Software

      2. 5.1.2 Orthopedic Electronic Health Record (EHR)

      3. 5.1.3 Orthopedic Practice Management

      4. 5.1.4 Orthopedic Picture Archiving and Communication Systems (PACS)

      5. 5.1.5 Orthopedic Revenue Cycle Management

      6. 5.1.6 Other Equipment and Systems

    2. 5.2 By Mode of Delivery

      1. 5.2.1 Cloud/Web Based

      2. 5.2.2 On-premise

    3. 5.3 By Application

      1. 5.3.1 Orthopedic Surgery

      2. 5.3.2 Fracture Management

      3. 5.3.3 Other Applications

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Mexico

      2. 5.4.2 Europe

        1. 5.4.2.1 Germany

        2. 5.4.2.2 United Kingdom

        3. 5.4.2.3 France

        4. 5.4.2.4 Italy

        5. 5.4.2.5 Spain

        6. 5.4.2.6 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 Japan

        3. 5.4.3.3 India

        4. 5.4.3.4 Australia

        5. 5.4.3.5 South Korea

        6. 5.4.3.6 Rest of Asia-Pacific

      4. 5.4.4 Middle-East & Africa

        1. 5.4.4.1 GCC

        2. 5.4.4.2 South Africa

        3. 5.4.4.3 Rest of Middle-East & Africa

      5. 5.4.5 South America

        1. 5.4.5.1 Brazil

        2. 5.4.5.2 Argentina

        3. 5.4.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Athenahealth Inc.

      2. 6.1.2 Brainlab AG

      3. 6.1.3 CureMd Healthcare

      4. 6.1.4 GE Healthcare

      5. 6.1.5 Greenway Health LLC

      6. 6.1.6 IBM Corporation (Merge Healthcare Inc.)

      7. 6.1.7 Materialise NV

      8. 6.1.8 Medstrat Inc.

      9. 6.1.9 Nextgen Healthcare Information Systems LLC

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Competitive Landscape Covers - Business Overview, Financials, Products and Strategies, SWOT Analysis, and Recent Developments

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Frequently Asked Questions

The Orthopedic Software Market market is studied from 2018 - 2026.

The Orthopedic Software Market is growing at a CAGR of 7.58% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Brainlab AG, Materialise NV, GE Healthcare, Medstrat Inc., IBM Corporation (Merge Healthcare Inc.) are the major companies operating in Orthopedic Software Market.

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