Global Orthopedic Surgery Software Market 2023-2030

Global Orthopedic Surgery Software Market 2023-2030

Global Orthopedic Surgery Software Market Size, Share & Trends Analysis Report by Product (Orthopedic Electronic Health Record (EHR), Orthopedic Practice Management, Orthopedic Picture Archiving and Communication Systems (PACS), Orthopedic Revenue Cycle Management, and Others), by Application (Orthopedic Surgery, Preoperative, Postoperative, Intraoperative, Fracture Management, Joint Replacement, and Pediatric Assessment), by End User (Hospitals, Orthopedic Clinics, and Ambulatory Surgical Centers), and by Deployment Mode (On-Premises, and Cloud) Forecast Period (2022-2030)

Global orthopedic surgery software market is anticipated to grow at a considerable CAGR of 7.9% during the forecast period. 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 there rises the need for different orthopedic software 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. in addition, increasing the integration of technological advances such as artificial intelligence (AI), in orthopedic software will further drive market growth. For instance, in January 2021, Ortoma launched OTS 5 an AI-based software platform for implant surgery. The software allows surgeons to accurately plan in 3D before the procedure and correctly place implants into patients. The new version improves usability both before and after surgery and includes an Ortoma Plan and Ortoma Guide. OTS 5 is an integrated surgical system for orthopedic implants and is designed for improved surgical results for the patient, with fewer complications and reduced number of reoperations, thereby also providing improved long-term survival of the implant.

Segmental Outlook

The global orthopedic surgery software market is segmented based on product, application, end user, and deployment mode. Based on product, the market is categorized into orthopedic electronic health record (EHR), orthopedic practice management, orthopedic picture archiving and communication systems (PACS), orthopedic revenue cycle management, and others. Based on application, the market is segmented into orthopedic surgery, preoperative, postoperative, intraoperative, fracture management, joint replacement, pediatric assessment. Based on end user, the market is divided into hospitals, orthopedic clinics, and ambulatory surgical centers. Based on deployment mode, the market is bifurcated into cloud, and on premises.

The Cloud Based Segment to Hold a Prominent Share in the Market

Cloud-based orthopedic software is anticipated to grow at a significant rate. Cloud-based software become more popular among orthopedic clinicians, as it allows businesses to exchange data instantly and frees up IT staff to work on other essential tasks. In healthcare firms, this increases process productivity and the financial effectiveness of staff and surgeons. For instance, in May 2021 Corin Group updated their cloud-based digital ecosystem, CorinConnect. This update, building off the real-time data integration from Corin’s orthopedic technologies, enables surgeons to access key analytical data collected throughout the orthopedic journey. This data is presented seamlessly, giving surgeons advanced insights for both hip and knee replacement, helping them make more informed decisions to ultimately improve patient outcomes.

Regional Outlooks

The global orthopedic surgery software market is further segmented based on geography, including North America (the US and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa and Latin America). The market can be analyzed for a particular region or country level as per the requirement. Among these, the Asia-Pacific region is projected to grow at a significant rate. Increasing cases of orthopedic, and rising demand for software to achieve optimal and revision-safe surgery drives the market growth. For instance, an article published in the National Science Foundation of China (NSFC), in June 2022, the prevalence of knee joint osteoarthritis in China was higher in females than males.

Global Orthopedic Surgery Software Market Growth, by Region 2023-2030

Source: OMR Analysis

North America is is Anticipated to Hold a Significant Share in the Global Orthopedic Surgery Software Market

Among all the regions, North America is projected to hold a prominent share of the market globally. The regional market growth is primarily attributed to the growing prevalence of different types of orthopedic disorders and the rise in the number of orthopedic surgeons. According to the statistics by the US Centers for Disease Control and Prevention (CDC), stated that by the year 2040, 78 Million adults in the US were estimated to have some form of arthritis, from 63 Million adults in the year 2020. Moreover, according to the US Bureau of Labor Statistics, there are 19,060 orthopedic surgeons in the US in 2022, and there are a total of 2540 general medical and orthopedic surgical hospitals in the US.

Market Players Outlook

The major companies serving the global orthopedic surgery software market include Nextech Systems, LLC, Peek Health S.A, RevenueXL Inc., Rsip Vision and others. The market players are considerably contributing to the market growth by the adoption of various strategies, including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in February 2023, PeekMed gained FDA clearance for orthopedic software. The artificial intelligence software can perform live segmentation of CT scans and X-rays to create an accurate plan for orthopedic surgeons in less than 30 seconds. PeekMed's web-based software creates 2D and 3D images, completes measurements and adds templates, reducing the chance of error in surgery in addition to saving time and money, and the company provides technology to more than 3,500 orthopedic surgeons globally.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global orthopedic surgery software market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.