Orthopedic Software - Global Market Outlook (2017-2023)

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Oct 03, 2017, 06:03 ET

LONDON, Oct. 3, 2017 /PRNewswire/ -- According to Stratistics MRC, the global Orthopedic Software Market is accounted for $250.9 million in 2016 and expected to grow at a CAGR of 6.3% to reach $385.7 million by 2023.

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Factors such as rise in style oriented diseases, adoption of minimally invasive surgeries, huge population of elderly patients, enhancement in R&D and technological advancement and enhancing incidence and prevalence rate of arthritis and osteoporosis are driving the market growth. However, emerging economies which have poor healthcare insurance policies and high cost of surgeries are likely to hinder the market growth. Further, emergence of 3d printing technology, increasing awareness about orthopaedic diseases and emerging economies would provide ample opportunity for the market growth.

Evolving reimbursement trends are hitting orthopedic practices particularly hard. In addition, orthopedic physicians tend to have a higher daily patient volume than most other practices, averaging 30 patients per day. Orthopedic providers can take advantage of specialty-specific EHR clinical templates. A robust EHR solution can provide easy access to X-rays and images with cloud-based storage solutions, as well as interfaces to PACS systems within hospitals and from other providers.

North America is witnessed 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 endowing eHealth and mHealth as well as advanced visualization systems in their healthcare system. Europe is the second largest market owing to enhanced digitization and rise in geriatric population prone to knee ailments.

Asia Pacific is expected to be an opportunistic market owing to China, Japan and India as the most developing countries in the region. In addition, the Asia Pacific region is prevailing with higher incidence of bone disorders and lifestyle related knee, spine and cervical ailments. However, the lack of expertise by orthopedic physicians as well as medical staff regarding software usage and cost of installing the software for hospitals and clinics is likely to impede the market growth.

Some of the key players in global Orthopedic Software market are Quality Systems, Inc. (Nextgen Healthcare Information Systems, LLC.), Merge Healthcare Inc., Medstrat, Inc., Mckesson Corporation, Materialise NV, Healthfusion Inc., Greenway Health, GE Healthcare, Curemd and Brainlab AG.

Delivery Modes Covered:
• Web Based Solutions
• On-Premise Solutions
• Cloud-Based Solutions

Products Covered:
• Orthopedic Revenue Cycle Management
• Orthopedic Practice Management
• Orthopedic Picture Archiving and Communication Systems (PACS)
• Orthopedic Electronic Health Record (EHR)
• Digital Templating/Pre-Operative Planning Software

Applications Covered:
• Fracture & Limb Deformity Management
• Joint Replacement
• Orthopedic Surgery
• Pediatric Assessment

End Users Covered:
• Independent Orthopaedic Clinics
• Hospitals
• Surgery Centers
• Other End Users
o Research Centers
o Nursing Homes

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o France
o Italy
o UK
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o Rest of Asia Pacific
• Rest of the World
o Middle East
o Brazil
o Argentina
o South Africa
o Egypt

What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 7 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

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