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New study: Orthopedic software market is expected to reach $308.5 million by 2020 and is expected to grow at a CAGR of 5.1%

The global orthopedic software market has witnessed considerable growth over the past few years. With lifestyle changes, there are rising incidences of disorders such as obesity which is triggering the occurrences of orthopedic problems.

The orthopedic software market is expected to grow at a CAGR of 5.1% from 2014 to 2020 to reach $308.5 million by 2020

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The growing geriatric population is also prone to orthopedic disorders related to knee and hip joints. Also, upsurge in the incidences of musculoskeletal injuries and orthopedic surgeries have raised the focus on orthopedics devices and minimally invasive methods of treatment.

These factors have resulted in increased focus on the use of orthopedic software that eases the surgery and treatment procedures for orthopedic surgeons and doctors.  However, absence of healthcare insurance in emerging economies, need of trained professionals, and high cost of surgeries may hinder the growth of this market to a certain extent.

The global orthopedic software market is segmented by products, applications, mode of delivery, and geography. The market by product is mainly segmented into pre-operative planning software, orthopedic EHR, practice management, orthopedic picture archiving and communication systems (PACS), and orthopedics revenue cycle management (RCM).

The market by applications is sub-segmented into orthopedic surgeries, joint replacement, fracture and limb deformity management, and pediatric assessment. On the basis of mode of delivery, the market covers web-based, cloud based, and on premises systems.

This report also covers the major drivers, restraints, opportunities, and challenges for the orthopedics software market.

Geographically, North America accounted for the largest share of the global orthopedic software market in 2014 followed by Europe, Asia-Pacific (APAC), and Rest of the World (RoW). The Asia-Pacific region is expected to register the highest growth during the forecast period mainly due to rising investment in healthcare IT and growing awareness in this region, especially in countries like China and Japan.

Some of the prominent players in this market are Materialise NV (Belgium), Merge Healthcare Incorporated (U.S.), Brainlab AG (Germany), CureMD (U.S.), Medstrat, Inc. (U.S.), HealthFusion Inc. (U.S.), McKesson Corporation (U.S.), and Greenway Health (U.S.)

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