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Global orthopedic software market is anticipated to grow at a CAGR of 6.1%, during the forecast period (2024-2031). The market growth is driven by the rising orthopedic-related diseases such as arthritis that have increased the number of joint replacement procedures globally. Further, growing ease due to minimally invasive surgical options has also boosted the orthopedic procedure which contributes to industry growth. Orthopedic software allows professionals to maintain administrative tasks and improve productivity. It also allows easy access to patient data and enhances communication and patient experience.

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The global orthopedic software market is segmented into application, product, and mode of delivery. Based on application, the market is segmented into joint replacement, fracture management, deformity correction, and others. Based on product, the market is further classified into practice management, digital orthopedic templating, EHR, PACS, and others. Based on the mode of delivery, the market is further segmented into cloud-based, web-based, and on-premise.

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Market Dynamics

  • Joint replacement application has a significant market attributed to growing orthopedic surgeries worldwide. According to the American College of Rheumatology, about 790,000 total knee replacements and 544,000 hip replacements are performed in the US annually. This number is expected to grow as the population ages.
  • Orthopedic EHR held the highest market share in 2023 attributed to the growing patient database, and the adoption of EHR to improve operational efficiency and patient engagement.
  • Cloud-based orthopedic software is growing at the highest CAGR during the forecast period. The segment is driven by its advantages such as remote patient data access, centralized data security, ease in scalability, and cost-effectiveness.

The major players in the orthopedic software market include Brainlab AG, Merge Healthcare, Inc., Modernizing Medicine, Inc., Materialise N.V., Medtrat, Inc., and CureMD Healthcare, among others. The market players are contributing significantly to the market growth, by the adoption of various business strategies, such as collaborations, mergers and acquisitions, product portfolio diversification, and more.

Few Recent Developments-

  • In September 2024, Arthrex announced the release of OrthoPedia Patient, an interactive digital platform that provides patients with access to easy-to-understand videos covering a comprehensive range of orthopedic conditions and treatments.
  • In February 2024, Enovis™ showcased its latest technologies across the orthopedic care continuum at the American Academy of Orthopedic Surgeons Annual Meeting 2024. Enovis presented its extensive and newly integrated portfolio of implant technologies, pre-and post-operative care solutions, and digital care resources – ARVIS® Augmented Reality, AltiVate® Anatomic Augmented Glenoid, EMPOWR 3D Knee®, EMPOWR™ blade stem, DynaNail Helix™, Evolve34™, Pecaplasty and DonJoy® ROAM™ OA Knee Brace.
  • In January 2024, Orthofix Medical Inc. agreed with MRIguidance, a Dutch medical imaging software company, to sell its BoneMRI™ imaging software in the US. It benefits the healthcare profession with radiation-free preoperative imaging and spinal navigation with the 7D FLASH Navigation System and BoneMRI Technology.

 

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Radhika Udasi