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The need for orthopedic software arises due to the increasing amount of time spent by the orthopedic physician or surgeon in maintaining critical patient paperwork and coordinating that information pertaining to the patient with other physicians. Orthopedic software aids in accurate delivery of patients information regarding medical parameters. Orthopedic software pertains to maintaining electronic health records (EHR) and also guides surgeons while operating the patients. It also helps them in preparing a pre-operative plan which can be used as guidance during surgery. This process, if carried out manually, is not only highly time consuming, but also increases chances of introducing an error. This issue is easily overcome by installing orthopedic software in the hospitals, surgery centers and orthopedic specialty clinics. The rise in population suffering from arthritis, especially osteoarthritis across the globe, coupled with upsurge in geriatric population is set to propel the market for orthopedic software worldwide. The escalation in sports-based injuries as well as injuries due to road accidents will lead to a rise in orthopedic procedures and thus impact the growth of orthopedic software market. For instance, as per statistics from the WHO, traffic accidents worldwide bring about nearly 1.24 million deaths a year. 

The global orthopedic software market is segmented by type of software, end-user and mode of delivery. Based on type of software, the market can been divided into pre-operative planning & templating software, orthopedic EMR & Medical Billing software, practice management (PM) software, orthopedic picture archiving and communication systems (PACS) software, and orthopedics revenue cycle management (RCM) software. Based on end-user, the market is divided into hospitals, independent orthopedic clinics, surgery centers and others. The others segment includes nursing homes and research centers.  The market based on mode of delivery is segmented by three types, namely, web-based, cloud based, and on premises systems. The procedures that the software assists in include joint arthroplasty and revisions, orthopedic trauma, limb deformity correction, osteotomy and pediatric and spinal assessment and is chosen by end users widely to meet the specific needs of planning such as deformity corrections and joint alignment calculation before commencing the surgery process.

Geographically, North America was observed 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 successful in implementing eHealth and mHealth as well as advanced visualization systems in their healthcare system, which would in turn boost the orthopedic software market growth. The rising preference for minimally invasive procedures and constantly improving reimbursement scenario would further propel the market growth. Europe was observed to be the second largest market in the orthopedic software market owing to enhanced digitization of the healthcare processes and rise in geriatric population prone to knee ailments and falls. The major factor that would drive the market in Asia Pacific include the acceptance and demand for high end medical infrastructure in the region. China, Japan and India are the most developing countries in the region and hence would fuel the market growth for orthopedic software market. Also the Asia Pacific region is witnessing high incidence of bone disorders and lifestyle related knee, spine and cervical ailments, which would in turn boost the market for orthopedic software. However, the perceived lack of expertise by orthopedic physicians as well as medical staff regarding software usage and cost of installing the software for hospitals and clinics already operating on a conservative budget is likely to retrain the market in this region.

The major players operating in this market include Exscribe Orthopedic Healthcare Solutions, Materialise NV, Merge Healthcare Incorporated, Brainlab AG, CureMD, Medstrat, Inc., HealthFusion Inc., McKesson Corporation, and Greenway Health among other significant players worldwide.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Orthopedic Software Market

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