Orthopedic Software Market by Product: Global Forecast to 2020 – a new market research report on companiesandmarkets.com
The orthopedic software market is expected to grow at a CAGR of 5.1% from 2014 to 2020 to reach $308.5 million by 2020. Focus on minimally invasive techniques especially for knee and hip replacement surgeries, as compared to traditional orthopedic surgeries, is expected to propel the demand of orthopedic software.
The global orthopedic software market has witnessed considerable growth over the past few years. With lifestyle changes, there are rising incidences of disorders such as obesity which is triggering the occurrences of orthopedic problems. The growing geriatric population is also prone to orthopedic disorders related to knee and hip joints. Also, upsurge in the incidences of musculoskeletal injuries and orthopedic surgeries have raised the focus on orthopedics devices and minimally invasive
methods of treatment. These factors have resulted in increased focus on the use of orthopedic software that eases the surgery and treatment procedures for orthopedic surgeons and doctors. However, absence of healthcare insurance in emerging economies, need of trained professionals, and high cost of surgeries may hinder the growth of this market to a certain extent.
Geographically, North America accounted for the largest share of the global orthopedic software market in 2014 followed by Europe, Asia-Pacific (APAC), and Rest of the World (RoW). The Asia-Pacific region is expected to register the highest growth during the forecast period mainly due to rising investment in healthcare IT and growing awareness in this region, especially in countries like China and Japan. Some of the prominent players in this market are Materialise NV (Belgium), Merge Healthcare Incorporated (U.S.), Brainlab AG (Germany), CureMD (U.S.), Medstrat, Inc. (U.S.), HealthFusion Inc. (U.S.), McKesson Corporation (U.S.), and Greenway Health (U.S.)
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