Orthopedic Software Market Is Expanding Due To Global Rising Demand and the Necessity for Patient Data for PHM and an Increase in the Incidence of Orthopedic Diseases
Luton, Bedfordshire, United Kingdom, Oct. 26, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Orthopedic Software market “The global Orthopedic Software market size is USD 311 million in 2020 and is expected to grow till USD 621.63 million by 2029, at a Compounded annual growth rate (CAGR) of 8.20%.”
Orthopedic software enables orthopedic surgeons and physicians to practice orthopedics and sports medicine. Orthopedic software includes electronic medical records (EMR/EHR), practice management, billing, patient retention, patient portals, remote patient monitoring, image processing, PACS, test results management, SOAP note templates, X-ray and MRI management, etc. provides the functionality of Such as the integration of arthroscopic devices. Orthopedic surgeons can use orthopedic software to streamline the management and operations of their orthopedic practice. Orthopedic software is specifically designed for the practice of orthopedics and sports medicine.
Patients and healthcare systems can be burdened by MSDs. The most common musculoskeletal disorders worldwide include osteoarthritis, osteoporosis, rheumatoid arthritis, and back problems. With increasing life expectancy and an increasing number of older people, osteoarthritis is expected to become the fourth leading cause of disability by 2020. According to the National Osteoporosis Foundation, approximately 54 million people over the age of 50 will have Suffering from osteoporosis or low bone density, the number is expected to rise to about 64.4 million by 2030. Other orthopedic problems are expected to become more prevalent in the coming years due to the growing elderly population. A study by the United Nations Department of Economic and Social Affairs predicts that by 2050, about 21% of the world's population will be over the age of 60.
“The Orthopedic Software market would be driven by an increase in the incidence of orthopedic diseases due to the growing elderly population.”
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In 2020, CareCloud Corporation was bought by MTBC (US) (US). CareCloud Corporation’s purchase allowed MTBC achieve higher operational efficiency, expedite growth, and provide flexibility for future development.
In 2019, Brainlab AG (Germany) Orthopaedic Joint Reconstruction has been acquired by Smith & Nephew (US). Smith & Nephew’s goal of investing in best-in-class technology to grow their multi-asset digital surgical and robotic ecosystem is bolstered by this purchase.
Companies Mentioned -> NV, Brainlab AG, Medstrat, Inc., CureMD Healthcare, Greenway Health, NextGen Healthcare LLC, McKesson Corporation, GE Healthcare, Philips Healthcare, and Merge Healthcare Incorporated.
Orthopedic Software Market Share Insights-> North America (43%) accounts for the largest share of the global Orthopedic Software Market due to significant presence of key market players in the region.
The orthopedic software market is segmented by product, application, payment type, and end-user industry. Based on product, the global orthopedic software market is segmented into orthopedics - preoperative planning, EHR, PACS, RCM, PM. The orthopedic image archiving and communication system (PACS) segment dominated the global orthopedic software market
Based on application, the global orthopedic software market is segmented into joint replacement, fracture management, and pediatric evaluation. The joint replacement sector is the most dominant sector. Rising prevalence of chronic diseases is driving the number of joint surgeries performed and the concomitant number of revision surgeries performed driving the market. Due to COVID-19, non-urgent procedures have been put aside. This is expected to reduce the demand for orthopedic surgical instruments in the coming months.
Orthopedic Software Market Scope: Discount on report
by Region
Learn about the contribution of each segment summarized in concise info graphics and thorough descriptions. View a FREE PDF Sample Report
Regional Share Analysis-> North America holds the largest market share, owing to its large number of smartphone users and high adaptability to online services, and is expected to drive market growth during the forecast period. The North American healthcare sector is experiencing positive trends with the development of mHealth and its applications to support proactive personal health management. Additionally, the Asia-Pacific market is driven by the increasing number of healthcare systems such as hospitals, clinics, and other ambulatory care facilities. See more on the report at: (70 Pages) on Orthopedic Software Market: https://exactitudeconsultancy.com/reports/10452/orthopedic-software-market/#report-details
Some Important Points Answered in this Orthopedic Software Market Report Are Given Below:
Outline of product portfolio including product development, planning and positioning
Details key operational strategies focusing on R&D strategies, corporate structures, localization strategies, manufacturing capabilities, and financial performance of various companies.
Detailed analysis of market returns over the forecast period.
Examine different market prospects using Porter's Five Forces Analysis, PEST and SWOT analysis.
Study of the segment expected to dominate the market.
A study on analysis of regions projected to register the highest growth during the forecast period
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