The Orthopedic Planning Systems Market is all set to unleash its potential to the fullest, at a CAGR of 7.9%. The new normal constitutes video chatting with therapists. The patients are thus able to create their profile and look for the therapist (s) of their choice. Patients could, thus share the data from various apps and share it with their provider (s) for a better understanding of the personalized care needed by them. Such would be the healthcare vertical.
Owing to high adoption of cloud-based software systems and advancements in AI technology in the healthcare sector, the global orthopedic planning systems market recorded a market value of US$ 74 Mn in 2021. It is further expected that this market will expand at a CAGR of 7.9% over the forecast period (2022-2032).
Orthopedic planning systems are digital systems or software that help surgeons view, plan, and design patient-specific 3D orthopedic models and final implants pre-operatively. These implants are then utilized in surgical procedures such as hip replacement, knee replacement, shoulder replacement, and small bone replacement while limiting the risk of intraoperative complications and improving patient outcomes. It thus helps orthopedists by managing the entire surgical procedure, which includes preoperative decisions, intraoperative guidance, and postoperative management.
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Incidence of musculoskeletal conditions are increasing across the world. Osteoarthritis, osteoporosis, and joint inflammation are some of the most commonly occurring musculoskeletal conditions that are known to affect a large number of the population, especially the geriatric population. Additionally, the treatment for these conditions adds to the overall cost of pharmaceutical expenses, since per-care cost is continuing to rise every year, thereby increasing global health spending.
- Improved reimbursement scenario provides coverage for orthopedic treatment. For instance, in 2019, US$ 799.4 Bn was spent by Medicare on benefit expenses for nearly 61 million patients who were aged 65 or older or disabled.
- In the same year, US$ 138.7 Bn was paid by Medicaid for acute-care services such as hospital care, physician services, and prescription drugs.
Better reimbursement scenario enables more number of patients to opt for treatment. This is expected to boost demand for orthopedic planning systems in the future.
Easy understanding of growing advanced technologies among healthcare professionals such as doctors, nurses, physiotherapists and patients suffering from musculoskeletal conditions are highly contributing to increasing demand for orthopedic planning systems.
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Key Takeaways from Market Study
- Pre-surgical planning software held more than 63% market share by solution in 2021.
- Joint replacement contributed nearly 58.2% revenue share in 2021 in the global market.
- On-premise deployment of orthopedic planning systems is the most commonly seen in hospitals and medical centers, holding more than 1/3 of the global market in 2021.
- By end user, hospitals are preferred more by patients, and the segment held a market share of around 49.3% in 2021.
- Around 48.6% of the global market share, by region, was accounted for by North America in 2021.
“High prevalence of orthopedic disorders and increase in AI in providing personalized healthcare will market growth over the coming years,” says an analyst of Persistence Market Research.
Market Competition
Key manufacturers of orthopedic planning systems are focusing on forming strategic partnerships through acquisitions and mergers to enhance their presence across the world, resulting in increased customer width for manufacturers and distributors.
- In February 2022, Formus Labs collaborated with Zimmer Biomet in order to develop and commercialize the Formus Hip in Australia and New Zealand.
- In March 2021, Brainlab acquired a Heidelberg-based company – Mint Medical GmbH. This acquisition helped Brainlab expand its current portfolio in the image reading and reporting software division developed for clinical routine and research.
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What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the orthopedic planning systems market in its latest study, presenting historical demand assessment of 2016 – 2020 and projections for 2021 – 2031.
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