Orthopedic Software Market Segmentation by Product Type {Digital Templating/Pre-Operative Planning Software, Orthopedic Electronic Health Record (EHR), Orthopedic Picture Archiving & Communication Systems (PACS), Orthopedic Practice Management, and Orthopedic Revenue Cycle Management}; by Deployment Mode (Cloud-Based, and On-Premises); by Application (Orthopedic Surgery, Fracture Management, Joint Replacement, Pediatric Assessment, and Others); and by End User (Hospitals, Specialty Orthopedic Clinics, Surgery Centers, and Others)-Global Demand Analysis & Opportunity Outlook 2020-2030

Global Orthopedic Software Market Highlights Over 2020 - 2030

The global orthopedic software market is estimated to garner a revenue of USD 636.5 Million by the end of 2030, by growing at a CAGR of 6.6% over the forecast period, i.e., 2021 – 2030. Moreover, the market generated a revenue of USD 338.5 Million in the year 2020. The growth of the market can primarily be attributed to the growing prevalence of different types of orthopedic disorders, such as arthritis, osteoarthritis, fibromyalgia, fractures, osteoporosis, and soft-tissue injuries among others, and therefore the rising need for different types of treatment to treat these disorders. According to the statistics by the International Osteoporosis Foundation (IOF), the incidence of hip fracture in men around the globe is estimated to increase by 310% and 240% in women by 2050, as compared to the rates in the year 1990. On the other hand, the increasing footfall in hospitals, specialty orthopedic clinics, and surgery centers, for treating orthopedic patients, is also anticipated to drive the growth of the market in the coming years. 

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The growth of the market can also be attributed to the growing adoption of minimally invasive surgeries (MIS) worldwide for treating different orthopedic diseases, such as procedures related to spine, shoulder, elbow, wrist, and knee. Moreover, increase in the number of orthopedic surgeries, along with the advent of robotic surgery, and the growing adoption of technology in the healthcare sector are some of the additional factors projected to contribute to the market growth. Furthermore, the rising adoption of electronic health records (EHRs) and other e-health solutions, along with the surge in availability of orthopedic software as cloud-based solutions, are some of the rising trends anticipated to boost the market growth in recent years.

Global Orthopedic Software Market Regional Synopsis

Regionally, the global orthopedic software market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America is anticipated to garner the largest revenue of USD 352.6 Million by the end of 2030, up from a revenue of USD 198.0 Million in the year 2020. The growth of the market in the region can be attributed to the growing prevalence of orthopedic related disorders, especially in the United States, and for the increasing demand for orthopedic software amongst orthopedic surgeons, backed by the numerous benefits associated with the software. According to the statistics by the United States Centers for Disease Control & Prevention (CDC), the prevalence of arthritis, an orthopedic disorder, in the United States, is projected to reach 78 Million by the year 2040. Moreover, increasing awareness for such software amongst the healthcare providers, and the presence of numerous healthcare service providers who treat different types of orthopedic disorders, are also anticipated to drive the market growth in the coming years.

On the other hand, the orthopedic software market in Europe is projected to register the second-largest revenue of USD 131.1 Million by the end of 2030 and further grow with a CAGR of 7.2% during the forecast period. The market in the region is segmented by country into Germany, United Kingdom, Italy, France, Spain, Russia, Netherlands, and the Rest of Europe. Out of these, the market in the United Kingdom is projected to garner the largest revenue of USD 24.1 Million by the end of 2030, up from a revenue of USD 11.6 Million in the year 2020.

Growth Drivers and Challenges Impacting the Growth of the Global Orthopedic Software Market

Growth Drivers 

• Increasing Adoption of Minimally Invasive Surgeries (MIS) for Treating Orthopedic Disorders

• Growing Number of Orthopedic Surgeries

Challenges

• Lack of Skilled Healthcare IT Professionals

• Absence of Healthcare Insurance in Emerging Economies

Global Orthopedic Software Market Segmentation Synopsis

The global orthopedic software market is segmented by product type into digital templating/pre-operative planning software, orthopedic electronic health record (HER), orthopedic picture archiving & communication systems (PACS), orthopedic practice management, and orthopedic revenue cycle management. Out of these, the orthopedic picture archiving & communication systems (PACS) segment is anticipated to garner the largest revenue of USD 180.8 Million by the end of 2030, up from a revenue of USD 84.8 Million in the year 2020. By deployment mode, the market is segmented into on-premises, and cloud-based, out of which, the on-premises segment is projected to garner the largest revenue of USD 216.6 Million by the end of 2022. By application, the market is segmented into orthopedic surgery, fracture management, joint replacement, pediatric assessment, and others. Out of these, the orthopedic surgery segment is anticipated to register the largest revenue of USD 255.7 Million by the end of 2030, up from a revenue of USD 141.3 Million in the year 2020. By end-user, the market is segmented into hospitals, specialty orthopedic clinics, surgery centers, and others. Out of these, the hospitals segment is anticipated to garner the largest revenue of USD 280.1 Million by the end of 2030, up from a revenue of USD 148.3 Million in the year 2020.

Key Companies Dominating the Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global orthopedic software market that are included in our report are Medical Device Business Services, Inc. (Johnson & Johnson), Materialise NV, LEXI Co., Ltd., mediCAD Hectec GmbH, ORTHOKEY ITALIA S.r.l., Wright Medical Group N.V., JRI Orthopaedics, Brainlab AG, PEEK HEALTH S.A., Phoenix Ortho, Zimmer Biomet, Stryker Corporation, Medstrat, Corin Group, and others. 

Latest Developments in the Global Orthopedic Software Market:

• March 10th, 2021: Brainlab AG announced that it has acquired Mint Medical Gmbh, an organization that develops image reading and reporting software for clinical routine and research. The acquisition of the Heidelberg-based company would allow Brainlab to remain committed to digital health and therefore improve structured diagnosis, analysis, and treatment.

• May 19th, 2021: Corin Group announced that it has recently updated its orthopedic software CorinConnect. The latest update would enable surgeons to access key analytical data collected throughout the orthopedic journey of their patients. 

Key Reasons to Buy Our Report

• The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

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Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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