The orthopedic software Market can be defined as it is the software that helps physicians or surgeons for maintaining the information about treatment procedures and clinical data by efficiently saving time. In orthopedics this software’s are referred as alternative for traditional system which involve paper based records. These orthopedic software assists the surgeons while performing surgeries. The orthopedic software also check the accurate delivery of information about the medical factors. The orthopedic software’s has wide application in medical database of diagnoses, histories, tests, treatment plans and surgical procedures.
MARKET DYNAMIC- ASIA PACIFIC ORTHOPEDIC SOFTWARE MARKET
The rise in the number of orthopedic surgeries in Asia Pacific and increasing incidences of orthopedic problems such as arthritis osteoporosis are the major factors propelling the growth of the market. Likewise, increasing implementation of IT in healthcare industry in Asia Pacific has resulted into the growth and deep market penetration for the orthopedic software market. The technological advancement in these software provide more accuracy as well as potency will causes rise in trend towards orthopedic software. Nevertheless, lack of skilled professionals to use orthopedic software research and high costs of software’s are the major restraining factor that could hamper the growth of the market.
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COVID 19 IMPACT ON ASIA PACIFIC ORTHOPEDIC SOFTWARE MARKET REPORT
The COVID-19 pandemic had a noteworthy impact on the orthopedic software market as the COVID- 19 is associated with respiratory syndrome as the software helps to keep accuracy in records. Likewise, EHR solutions are playing vital role in improving the efficiency of billing by optimizing and simplifying billing with correct codes, results in decrease in manual errors. Such software’s are also helps in revenue management during COVID 19 pandemic. It also helps in the monitoring and treating patients. Hence orthopedic software market is positively affected the market growth.
ASIA PACIFIC ORTHOPEDIC SOFTWARE MARKET SEGMENTAL OVERVIEW
The study analyses Asia Pacific orthopedic software market based on type of product, mode of delivery, application, end users and country.
ORTHOPEDIC SOFTWARE MARKET BY TYPE OF PRODUCT
The type of product included in the orthopedic software market is bifurcated into orthopedic picture archiving and communication systems (PACS), orthopedic Electronic health records, digital templating/pre-operative planning software, orthopedic Practice management and orthopedic revenue cycle management (RCM). The orthopedic picture archiving and communication systems (PACS) segment was the largest revenue generating segment in 2020. As it plays vital role in in healthcare organizations to securely store and digitally transmit electronic images and clinically-relevant reports. The advanced digital imaging functionalities in PACS will fuel market growth in upcoming years.
ORTHOPEDIC SOFTWARE MARKET BY MODE OF DELIVERY
According to the various mode of delivery available in the orthopedic software market is segmented into on-premises software and cloud-based software. The on-premises segment accounted for the largest share in the orthopedic software market. It has several advantages like complete control, allowing to modify, expand, and consolidate as per requirement, allows staff to conveniently access it at any time and implementation of tailored measures for security and uptime. Also it provide full data access control appropriate for organizations with regulatory requirements.
ORTHOPEDIC SOFTWARE MARKET BY APPLICATION
Depending on the application the market is categorized into joint replacement, fracture management, pediatric assessment and others. The joint replacement segment is anticipated to grow at highest market share owing to, rise in knee and hip replacement surgeries in Asia Pacific region. Likewise, a large number of patients visit the primary care physicians for musculoskeletal issues every year will act as a driving force for the market growth.
ORTHOPEDIC SOFTWARE MARKET BY END USERS
Based on the end users the orthopedic software market is classified into hospitals, ambulatory care centers and others (research centers, government organizations). The hospitals segment dominated the market in 2020 and is expected to maintain its dominance during the forecast period 2021-2027. The implementation of these software is anticipated to rise in the hospital and specialized settings. As it provide more accurate results, hence demand for these software has increased.
ORTHOPEDIC SOFTWARE MARKET BY COUNTRY
The countries covered in the Asia-Pacific orthopedic software market report are China, Japan, India and rest of APAC. The China held the largest market share of Asia Pacific orthopedic software market and is likely to dominate the market over the estimated time frame. China is one of the major contributing country in medical field and also it is well developed country. The advancement in hospital facilities and technological development are the major factor for the market growth in the region.
ASIA PACIFIC ORTHOPEDIC SOFTWARE MARKET KEY PLAYERS
The major key players of market includes 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), Merge Healthcare Incorporated (US), IBM (US), Athena Health (US) and All Script Healthcare Solution Inc.(US)
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