The increased incidence of orthopaedic problems as the senior population grows, the push to enhance care quality and save costs, the adoption of EHRs and other eHealth solutions, and the growing demand for minimally invasive treatments are all propelling this industry forward. However, reluctance among orthopaedic surgeons to use orthopaedic software due to privacy and data security concerns, a scarcity of trained and skilled resources, the need for large infrastructure investments, and the high cost of deploying software solutions are expected to limit market growth during the forecast period.
[Report of 188 pages] The global orthopaedic software market is expected to grow at a CAGR of 7.8% from 2020 to 2025, from USD 311 million in 2020 to USD 454 million in 2025.
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Drivers: The expanding elderly population is leading to an increase in the incidence of orthopaedic disorders.
Patients and healthcare systems alike might be burdened by musculoskeletal disorders. Some of the most common musculoskeletal diseases worldwide include osteoarthritis, osteoporosis, rheumatoid arthritis, and lower back discomfort. By 2020, osteoarthritis is anticipated to be the fourth-leading cause of disability, because to rising life expectancy and an ageing population. According to the National Osteoporosis Foundation, around 54 million people aged 50 and up have osteoporosis or reduced bone mass, with that number anticipated to rise to around 64.4 million by 2030.
Other orthopaedic diseases are predicted to become more common in the coming years as the ageing population grows. According to a research undertaken by the United Nations Department of Economic and Social Affairs, roughly 21% of the world's population would be 60 years or older by 2050.
Opportunities include the utilisation of orthopaedic software in mobile platforms and the availability of orthopaedic software as cloud-based solutions.
In the sphere of information technology, the healthcare business has seen significant developments. Furthermore, as the use of smartphones and tablets grows, mobile applications are making inroads into the orthopaedics sector. These technologies are ideal for orthopaedic surgeons because they combine mobility, accessible interfaces, storage capacity, and wireless access. These systems allow orthopaedic doctors to quickly access reference information from any place and share photos, videos, and audio snippets. Most orthopedicians are currently adopting these technologies to improve patient record accessibility from remote locations, hence boosting workflow efficiency. HIMSS conducted a research that found
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Some of the prominent players in the orthopedic software market include Materialise NV (Belgium), Brainlab AG (Germany), Medstrat, Inc. (US), CureMD Healthcare (US), Greenway Health (US), NextGen Healthcare LLC (US), McKesson Corporation (US), GE Healthcare (US), Philips Healthcare (Netherlands), and Merge Healthcare Incorporated (US).
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