Global Orthopedic Software Market : Future Demand, Market Analysis & Outlook to 2024

The report defines global Orthopedic Software Market as the software built to maintain the electronic health records of patients. The orthopedic software records the data before, during, and after orthopedic surgeries and further guides the doctors during the treatments. This software gathers patient data regarding medical parameters so they are beneficial to preparing a pre-operative plan. Recently, Siemens Healthineers Digital Ecosystem has launched a software, mediCAD Classic for orthopedic surgery planning. This is a software solution that details, calculates, and documents the most effective alternatives before surgery. The key players in the Orthopedic Software Market are Siemens, Materialise NV, Merge Healthcare Inc., Mckesson Corporation, Greenway Health, GE Healthcare, Nextgen Healthcare Information Systems, LLC, Healthfusion Inc., Curemd, Medstrat, Inc., and Brainlab AG. According to the report, the global orthopedic software market is projected to grow at a CAGR of 4.9% over the forecast period of 2018-2024.

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Financial innovations and advancements in healthcare management will drive the orthopedic software market

Electronic health records and software has been finding increasing use in medical practices during the past few years. The use of such software’s is bridging the gap between the business and clinical sides of healthcare. The integration of orthopedic software in healthcare industry provides several advantages such as efficient administration, accurate documentation, and billing. In addition, it helps boost the profitability and improve patient care. The rapidly growing orthopedic problems and injuries are driving the growth of orthopedic software market. Furthermore, the growing geriatric population worldwide and their increasing medical vulnerabilities are contributing to the growth of orthopedic software market. The cases of osteoarthritis and trapezius myositis have increased significantly among the elderly population. Moreover, the increasing demand for better doctor patient connectivity and good management system are providing growth opportunities for the orthopedic software market.

Orthopedic surgery application segment holds a significant market share in the orthopedic software market

The report on global orthopedic software market is bifurcated into applications, product, and mode of delivery. The application segment is categorized into orthopedic surgery, joint replacement, pediatric assessment, and fracture management. The orthopedic surgery segment holds a significant share in the application segment owing to the rising number of orthopedic diseases and injuries. Additionally, integration of orthopedic software’s in surgeries ensures a high level of preoperative planning and so operational quality.

North America to remain dominant in the orthopedic software market over the forecast period

Geographically, the market is divided into the North America, Europe, APAC and RoW. North America holds the largest market share in orthopedic software market owing to the favorable government policies, increased incentives and increased adoption of orthopedic software systems. Healthcare IT systems are widely being implemented in high-income countries such as the U.S. and Canada that boost the market growth in this region. Europe holds the second largest market in the orthopedic software owing to the technological advancements in the healthcare industry and increasing focus on data management and governance. Asia Pacific is expected to be the fastest growing market during the forecast period. The major factor that would drive the market in Asia Pacific regions is the increasing geriatric population and the increased demand for improved healthcare.

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