According to the report, global demand for orthopedic software market was valued at approximately USD 274.4 million in 2018, and is likely to generate revenue of around USD 417.2 million by end of 2025, growing at a CAGR of around 6.2% between 2019 and 2025.
The report covers forecast and analysis for the global orthopedic software market. The study provides historic data from 2016 to 2018 along with forecast from 2019 to 2025 based on revenue (USD Million). In-depth secondary research is used to ascertain overall market size, top industry players, top product, industry associations, etc. Macro-economic indicators such as healthcare industry outlook, healthcare spending, research funding, GDP along with company websites, company annual reports, white papers, financial reports and other sources have also been considered to arrive at the indicated market numbers.
Orthopedic software deals with huge amount of data which includes lab test results, like imaging during diagnosis and follow-ups charts of the patients. It has become mandatory for an orthopedic surgeon, to deal with a large amount of lab test results, especially in diagnostic imaging. For ease orthopedic softwares like EHR are been used in the orthopedic point of care.
The study provides a decisive view on the orthopedic software market by segmenting the market based on product, mode, application, and regions. All the segments have been analyzed based on present and future trends and the market is estimated from 2019 to 2025. Based on product the market is segmented into digital templating/ preoperative planning software, orthopedic EHR, orthopedic practice management, orthopedic PACS, orthopedic RCM, and others. The orthopedic EHR segment held major share of the market in 2018. Rising demand for faster treatment process and proper data sharing is one of the major factors driving the growth of this segment. On the basis of mode the market is segmented into on-premise, and cloud-based. The cloud-based segment is likely to grow at high CAGR in the forecast period due to consolidations taking place in the healthcare industry and growing number of hospitals which require one stop solution for data collection and management.
On the basis of application the market is segmented into fracture management, orthopedic surgery, pediatric assessment, and others. The orthopedic surgeries segment held major share of the market in 2018. Regional segmentation includes the current and forecast demand for Asia Pacific, North America, Latin America, Europe, and Middle East & Africa with its further bifurcation into major countries. Asia Pacific is likely to grow at high CAGR in the forecast period due to growing penetration of healthcare IT along with rising consumer awareness in developing countries like China and India.
The study also includes drivers and restraints for the orthopedic software along with the impact they have on the demand over the forecast period. Besides, the report includes the study of opportunities and trends available in the orthopedic software market on global level. Orthopedic software has created sustainable path for the growth of the industry. Adoption of minimally invasive surgeries and technological advancements in developed and developing nations are some of the major factors driving market growth. In 2018, the U.S. FDA approved radiological computer assisted diagnosis/ detection software called OsteoDetect, by Imagen Technologies, Inc.
The report also provides company market share analysis in order to give a broader view of the key players in the market. Industry insights and information is delivered in the required format. ZMR develops a list of industry players (manufacturers), distributors, retailers and industry experts. Some of the key players included in the market are Medstrat, Inc., Brainlab AG, McKesson Corporation, Greenway Health, Merge Healthcare Incorporated, Materialise NV, HealthFusion, Inc., Allscripts Healthcare Solution, Inc., Nextgen Healthcare LLC, and IBM.
This report segments the orthopedic software market as follows:
Global Orthopedic Software Market: Product segment Analysis
Global Orthopedic Software Market: Mode Segment Analysis
Global Orthopedic Software Market: Application Segment Analysis
Global Orthopedic Software Market: Regional Segment Analysis