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Pain management is a branch of medicine, which uses an interdisciplinary approach in order to ease pain and improve the quality of life for those suffering from chronic pain. The pain management software is a secure cloud-based or web-based software, which can be integrated with EHR and practice management software, for high-tech medical assistance along with in-built pain management medical knowledge that can give suggestions based on the common diagnosis.
Pain management software also has the ability to store the digital images in the record which can be viewed and retrieved whenever needed. With the introduction of big data and predictive analysis, the pain management software market is expected to achieve an upward trajectory growth during the projected period. Also, the fast growth of the market has attracted numerous startup investment opportunities and new product introduction. For example, in November 2018, Kaia Health, a digital therapy startup launched an app for the patient to self-manage chronic low-back pain using artificial intelligence and motion tracking technology.
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Emerging developments in novel pain management software by many healthcare IT/ software companies and the growing need to enhance healthcare facilities are the major factors driving the pain management software market during the forecast period. Furthermore, the increased data storage capacity due to advancement in web-based and cloud-based technology is expected to augment the growth of the pain management software market during the analysis period.
However, lack of training for optimal use and concerns regarding the protection of patient privacy data are major factors likely to hamper the growth in pain management software market in the forecast period.
Some of the major companies that are present in the global pain management software market are Advanced Data Systems, Modernizing Medicine, OmniMD, RevenueXL Inc., Raintree Systems, Practice Fusion Inc., QSI Management, LLC., Kareo Inc., Bizmatics Inc., Greenway Health LLC., Medsphere Systems Corporation, Infor-Med Inc., CareCloud Corporation, AllegianceMD Software Inc., among others.
· Web-based Software
· Cloud-based Software
By End User
· Ambulatory Surgical Centers
· North America (U.S. and Canada)
· Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)
· Latin America (Brazil, Mexico, and Rest of Latin America)
· Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)
Among end users, the hospital segment is expected to dominate the global pain management software market during the forecast period owing to the growing prevalence of acute or chronic pain and helps in improving the quality of life of patients suffering from pain.
Geographically, the global pain management software market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In North America, the global pain management software market is expected to boom during the projected period, due to the increased number of denials in health reimbursement and increased number of startups providing healthcare software solutions. In September 2018, MoxyTech, launched a pain tracking app named GeoPain that tells the users the location and intensity of pain using a 3-D image of the body, indicating a growth in the pain management software market in North America. The global pain management software market is anticipated to expand in Europe and the Asia Pacific during the forecast period owing to the improving health infrastructure and rapid incorporation of technology by a number of hospitals and specialty clinics.
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