Preoperative Surgical Planning Software Market size was valued at $97 million by 2020, and is anticipated to reach $129 million by the end of 2026 growing at a CAGR of 6.2% during the forecast period 2021-2026. The growth rate of the preoperative surgical planning software industry is increasing due to technological advances associated with the market, a rise in the number of cases of orthopaedic operations, and an increase in the global geriatric population, is expected to bring new opportunities and drive the market. Preoperative surgical planning software enables the doctor to prepare surgical treatment for orthopedic, neurosurgery, and general surgeries. As a result of its ability to aid in three-dimensional reconstruction as 3D pre operative planning software, the program is commonly used to plan orthopedic surgery. The program provides benefits such as quicker and easier procedures as well as better performance. Furthermore, the software is used to help surgeons understand and allow them to concentrate on the relevant modality, such as joint repair, deformity, fracture pattern, and so on. Using this software, surgeons should mentally plan and practice the procedure. Besides which, it can be used to predict and avoid future problems. However, an increase in the number of preoperative surgical planning software product recalls is impeding market development.
Preoperative Surgical Planning Software Market Segment Analysis - By Software Type
In 2020, on the basis of software type, on-premise segment accounted for the largest segmental revenue of the preoperative surgical planning software market. The on-premise segment held the largest market on account as On-premise systems give more power and security over patient data. The growth is anticipated to be fueled by increased versatility, surgical report generation, and connectivity.
On the contrary, off-premises segment is projected to witness healthy growth throughout the forecast period 2021-2026 with a CAGR of 6.80% as orthopedic daily practices have been significantly affected by the pandemic hence, medical practices of all sizes are under immense pressure, and healthcare providers need to rely on tele-health solutions to monitor and treat patients. Off-premises solutions are proving to be helpful in improving billing performance by optimizing and simplifying billing with correct codes and reducing manual errors; thus, during the forecast period 2021-2026, this segment is expected to be the fastest-growing in the software form segment.
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Preoperative Surgical Planning Software Market Segment Analysis - By End Users
On the basis of end users, hospital segment accounted for the largest segmental revenue of the preoperative surgical planning software market in 2020. The large share can be attributed to the high demand for orthopedic surgery software among hospitals, owing to the emergence of the COVID-19 pandemic and the need for patient data for PHM, which will accelerate the growth of the hospital segment in the software market during the forecast period 2021-2026.
On the other hand, ambulatory care centers segment is projected to dominate over the forecast period with a CAGR of 6.5%. The ambulatory care centers are to witness healthy growth owing to the fact that the pandemic has had quite a significant effect on orthopedic everyday procedures, and with elective cases being delayed, this has had a significant impact on inpatient management, necessitating a dedicated workforce, patient isolation, and strict visiting hour policies which is to promote growth. Apart from this, outpatient visits have been restricted to minimize interaction between patients and hospital staff, with significant implications for pre-operative care quality and the human side of medicine is also anticipated to offer significant growth for the ambulatory care centers segments during the forecast period 2021-2026.
Preoperative Surgical Planning Software Market Segment Analysis - By Geography
North America is the major region dominating the preoperative surgical planning software market with a market share of 33.9% in 2020. This can be attributed to the increasing focus on major orthopaedic surgeries coupled with developed infrastructure that have fueled the regional market. Furthermore, during the forecast period 2021-2026, rising adoption of EHRs, government initiatives for the improvement of the healthcare system, and an increasing number of ongoing research activities are expected to accelerate market growth.
During the forecast period 2021-2026, Asia-Pacific is estimated to be the fastest-growing region. This is owing to new industry entrants and lower adoption of orthopedic surgery apps. Throughout the preoperative surgical planning software market forecast period 2021-2026, the need to upgrade healthcare infrastructures and the growing need to cut healthcare costs has driven market growth.
Preoperative Surgical Planning Software Market Drivers
Advancements With Increasing Number Of Geriatric Population
The preoperative surgical planning software market is poised to receive upswing owing to the rising geriatric population which is leading to an increase in the incidence of orthopedic conditions thereby, augmenting factors that are to affect the global market. Moreover, increased demand for joint replacement treatments has resulted from a rise in the number of sports injuries and car accidents. The complexity of these procedures necessitates the use of preoperative surgical planning software around the world that drives the growth of preoperative surgical planning software market during the forecast period 2021-2026.
Preoperative Surgical Planning Software Market Challenges
Innovation Consolidation As A Result Of Mergers Between Healthcare Organizations
Despite several drivers, one of the major factors hindering is the technology consolidation through mergers and acquisitions between healthcare organizations that provide clinical and financial benefits to the healthcare organizations involved, thereby challenging the regional market growth. Specialty hospitals are often unable to use their own technologies owing to technology restructuring. As a result, they are forced to rely on technologies used in larger hospitals. As a result, specialty clinics may be less likely to implement orthopedic applications, thereby impeding the market growth.
Preoperative Surgical Planning Software Market Landscape
Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Preoperative Surgical Planning Software market. In 2020, Preoperative Surgical Planning Software market share is fragmented by the top ten players present in the market. The Preoperative Surgical Planning Software market top 10 companies are Stryker Corporation, EchoPixel, Inc., Intrasense, GE Healthcare, Siemens Aktiengesellschaft, Koninklijke Philips N.V., Hologic, Inc., Hitachi, Ltd., Agfa-Gevaert Group, Zimmer Biomet Holdings, Inc., Medtronic Plc, MeVis Medical Solutions AG, Carestream Health, Materialise, Monteris Medical, Inc., Oracle NetSuite, Danaher Corporation and others.
Acquisitions/Product Launches
In April 2019, EOS Imaging unveiled EOSlink, a software feature that seamlessly integrates its EOSapps preoperative surgical planning software with robotic surgery tools and surgical navigation devices. With launch of new and developed products to sustain the intense competition in the surgical imaging software industry, the launch is anticipated to continue boosting the market growth.
Key Takeaways
North America dominated the Preoperative Surgical Planning Software market with a share of 33.9% in the year 2020.
The factors such as higher preference of people for surgical planning software owing to advancements in invasive treatments are amongst the major factor projected to impel growth of preoperative surgical planning software market.
Additionally, factors such as rise in the number of orthopedic, dental & orthodontics surgeries, and technological advancements in the development of preoperative surgical planning software create opportunities paving a way for the growth in the market during forecast period 2021-2026.
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