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Orthopedic Software Market to reach a market size of $396 Million by 2025

Press release   •   Jan 02, 2020 17:22 IST

According to a new report Global Orthopedic Software Market, published by KBV Research, The Global Orthopedic Software Market size is expected to reach $396 Million by 2025, rising at a market growth of 6.3% CAGR during the forecast period.

The orthopedic EHR segment was dominant during 2018. The main factors that justify dominance are an increase in the demand for data sharing and faster processing. Such EHR systems are designed for the clinicians by setting up patient education, prescriptions, and referral letters to establish customized treatment plans for specific medical conditions. The software's multi-functionality supports its acceptance, which is expected to increase the consumer base in the near future. The Orthopedic Practice Management market is expected to witness a CAGR of 5.3% during (2019-2025).

On-premise software remained dominant in the mode of delivery segment of the orthopedic software market during 2018. This dominant trend can be attributed to factors including the availability of pocket-friendly local orthopedic software to manage various financial and clinical workflow requirements. The Web/Cloud Based market is experiencing a CAGR of 9.8% during (2019-2025).

North America, followed by Europe, accounted for a significant market share. The dominant share is linked to the growing U.S. and Canada adoption of orthopedic software. The high rate of the elderly population and growing problems associated with knee and hip have also resulted in increased demand. Additionally, The Asia Pacific market is anticipated to witness a CAGR of 7.7% during (2019-2025).

The Orthopedic Surgery market dominated the Global Orthopedic Software Market by Application in 2018. The fracture management sub-segment is anticipated to rise at the highest growth rate of 6.83% over the forecast period. With a vast library of prosthesis models and instinctive operation-specific tools, the software for fracture management planning helps surgeons to prepare each procedure effectively and prevent potential risks in surgery.

Structural Insights: https://www.kbvresearch.com/orthopedic-software-market/

The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Medstrat, Inc., Greenway Health LLC, Brainlab AG, General Electric (GE), Co., McKesson Corporation, Materialise NV, CureMD Healthcare, NextGen Healthcare, Inc., DrChrono, Inc. and AllScripts Healthcare Solutions, Inc.

Recent Strategies Deployed in Orthopedic Software Market

» Collaborations, Partnerships and Agreements:

Oct-2019: AllScripts teamed up with Northwell Health for deploying and developing a cloud-based, voice-enabled EHR across the N.Y.-based health system. This new EHR will use artificial intelligence and provide knowledge to clinicians that deliver exceptional care to the patients.

Sep-2019: NextGen Healthcare announced that University Hospitals Health System, a leading health system selected NextGen® Population Health for helping them in enhancing the patient care. NextGen offers powerful patient analytics, identifies gaps in care practice or pattern variations that helps in improving the population health.

Aug-2019: DrChrono came into partnership with OutcomeMD, a company revolutionizing medical outcome tracking. This partnership gives the practices seamless ability to incorporate patient reported outcomes into their clinical flow using DrChrono’s HER.

Mar-2019: McKesson collaborated with Navigating Cancer for offering enhanced relationship management (PRM) platform to community-based oncologists. Through collaboration with McKesson solutions such as Merit-based Incentive Program and Oncology Care Model and oncology-specific iKnowMed electronic health record (EHR), Navigating Cancer's PRM will help the oncology practices in their efforts to achieve value-based care.

Mar-2019: DrChrono partnered with 3D4Medical so that the practices across the United States can have the access to 3D interactive modeling and animation videos from within their electronic health record (EHR) for educating the patients in a better way.

Jan-2019: AllScripts announced the collaboration with Premier Orthopaedics in which AllScripts will integrate its Practice Management software, full Payerpath suite of solutions, Professional EHR, and consumer/patient engagement platform FollowMyHealth into technology Premier currently uses.

Jan-2019: AllScripts collaborated with Microsoft for changing the way clinical trials are conducted. This collaboration was focused towards the extension of Allscripts cloud-based EHR platforms.

Jan-2019: NextGen Healthcare signed partnership agreement with Holon Solutions, a healthcare information technology (HIT) vendor. Under this partnership, NextGen will deliver patient-centric population health insights at the point of care in a wide array of electronic health record (EHR) solutions.

Sep-2018: Brainlab came into partnership with Magic Leap, a proprietary spatial computing solutions developer. Under this partnership, Brainlab began marketing the Magic Leap's technology platform, which redefines how surgeons and other clinicians visualize and access the medical imaging data. These companies will develop medical spatial computing applications for transforming the science and art of patient care.

Mar-2018: Materialise launched TRUMATCH Personalized Solutions Shoulder System in collaboration with DePuy Synthes. In this collaboration, DePuy Synthes will distribute this solution in Canada, United States, New Zealand, Australia, and Europe.

» Acquisition and Mergers:

Nov-2019: NextGen Healthcare signed a definitive agreement to acquire Medfusion, a healthcare IT Company. The acquisition will add best-in-class patient access and engagement capability to NextGen Healthcare.

Aug-2019: Materialise signed an agreement to acquire 75% of Engimplan LTDA, a Brazil-based manufacturer of orthopedic and cranio-maxillofacial (CMF) implants and instruments. Under this agreement, Engimplan’s innovative product portfolio combined with Materialise’s expertise in 3D printed medical solutions, which helped in accelerating the introduction of 3D printed, personalized implants, and instruments in the Brazilian Market.

Jun-2018: McKesson acquired Medical Specialties Distributors, a distributor of infusion and medical-surgical supplies. Through this acquisition, McKesson is focused towards the multiple growth pillars as well the comprehensive review of the company operations.

Oct-2017: NextGen Healthcare completed the acquisition of Eagledream Health Inc. for becoming a complete value-based care solution platform.

» Product launches:

Sep-2019: DrChrono launched new EHR features for iPad, iPhone, and Apple Pencil. Through this, Physicians can get any information regarding their practices including lab results, referrals, outgoing and incoming faxes, prescription requests, and online appointments.

Global Orthopedic Software Market Segmentation

By Product

Digital Templating/Preoperative Planning Software

Orthopedic HER

Orthopedic Practice Management

Orthopedic PACS

Orthopedic RCM

Others

By Application

Fracture Management

Orthopedic Surgery

Others

By Mode of Delivery

On-Premise

Web/Cloud Based

By Geography

North America

US

Canada

Mexico

Rest of North America

Europe

Germany

UK

France

Russia

Spain

Italy

Rest of Europe

Asia Pacific

China

Japan

India

South Korea

Singapore

Malaysia

Rest of Asia Pacific

LAMEA

Brazil

Argentina

UAE

Saudi Arabia

South Africa

Nigeria

Rest of LAMEA

Companies Profiled

Medstrat, Inc.

Greenway Health LLC

Brainlab AG

General Electric (GE) Co.

McKesson Corporation

Materialise NV

CureMD Healthcare

NextGen Healthcare, Inc.

DrChrono, Inc.

AllScripts Healthcare Solutions, Inc.

Orthopedic Software Market Related Reports:

North America Market

Europe Market

Asia Pacific Market

LAMEA Market

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