Orthopedic Surgical Planning Software Market To witness Huge Expansion By 2030
Orthopedic Surgical Planning Software Market Summary
The global orthopedic surgical planning software market was valued at USD 65.60 million in 2022 and is projected to reach USD 106.82 million by 2030, growing at a compound annual growth rate (CAGR) of 6.36% from 2023 to 2030. This market growth is primarily driven by continuous advancements in orthopedic surgical planning technologies. The growing awareness among healthcare professionals and institutions about the clinical benefits and operational efficiency offered by such software solutions is further encouraging their adoption in surgical environments, particularly for improving accuracy and enhancing patient outcomes in orthopedic procedures.
The COVID-19 pandemic had a mixed impact on the medical industry. While some sectors experienced a slowdown, others witnessed growth. In the early stages of the pandemic, the global healthcare system faced immense pressure, prompting many governments to postpone non-essential surgical procedures. This shift was necessary to allocate medical resources and personnel to the treatment of COVID-19 patients. As a result, hospital visits declined, and a significant number of elective surgeries were canceled. For instance, in 2021, nearly 10 million people in the United Kingdom were waiting for surgical procedures, compared to 4 million prior to the pandemic.
Key Market Trends & Insights
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Market Size & Forecast
Key Companies & Market Share Insights
The key players are participating in strategic initiatives, such as partnerships, acquisitions, expansions, and collaboration, to increase their market share. For instance, in October 2022, Brainlab announced a partnership with the German Society for Orthopedics and Orthopedic Surgery. The partnership is aimed at advancements in the area of data privacy-compliant registry solutions.
Moreover, in February 2022, Formus Labs raised USD 5 million for product development and expansion in the U.S. market. Punakaiki Fund, Pacific Channel, Flying Kiwis, and Icehouse Ventures are the participants in this investment. Furthermore, in February 2022, Formus Labs announced a partnership with Zimmer Biomet. The goal of this partnership is to co-develop and commercialize Formus Hip in New Zealand and Australia.
Key Players
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Conclusion
The orthopedic surgical planning software market is poised for steady growth, driven by technological innovation, increasing awareness of pre-surgical planning benefits, and a shift toward cloud-based solutions. Hospitals remain the primary adopters, leveraging software to improve efficiency and patient outcomes. While North America continues to lead due to its mature infrastructure, Asia Pacific is emerging as a high-growth region, supported by demographic trends and healthcare modernization. Despite initial setbacks during the COVID-19 pandemic, the long-term outlook remains strong. With growing demand for precision in orthopedic procedures, the market is expected to evolve rapidly, offering significant opportunities for stakeholders worldwide.
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