According to the current analysis of Reports and Data, the global Oncology Information System market was valued at USD 6,687.9 Million in 2020 and is expected to reach USD 11.65 Billion by the year 2028, at a CAGR of 8.4%. Oncology Information System comprises software and services. The software is used to collect the data related to the patient, to predict the treatment method, clinical outcomes associated, and to analyze the success rate of the treatment. In addition to this, it has a collective data for patient management, clinical regimen, monitoring activities, and patient history. Such systems offer advantages including scheduled care and remote access due to digital connectivity compared with traditional record-keeping methods. Moreover, visual data of the tumor is also maintained for medical personnel and doctors to ensure the correct dosage, treatment management plans, and schedules that are appropriate for the patient.
The primary key drivers of the markets include technological advancements and increased incidences of cancer. For instance, according to the American Lung Association, around 234,030 new lung cancers were expected to diagnose. According to the National Cancer Institute, cancer has a significant impact on society in the United States and across the world, owing to the rising demand for Oncology Information System during the forecast period. Moreover, the patients, after getting complete treatment for cancer, also experienced secondary cancers recurring. The growth in demand for an appropriate treatment plan is expected to propel the market. Furthermore, the other factor responsible for fueling the market growth is growing government awareness and initiatives for the pre-diagnostics and efficient treatment for the same. The traction in the investment for the research and development in developed economies such as the U.S, Canada also owes the growth of the market. The recent advancement in the record-keeping aspect is the application of artificial intelligence, wherein the system gives suggestions about the patient’s history and further compares it with the previous therapy to ensure the effectiveness of the treatment. Escalating sponsorship for Healthcare by the government and favorable funding scenario would significantly support the market growth. The challenges, such as lack of skilled IT professionals in the Health Care Systems and the high cost of maintenance of the systems are likely to hamper the market. However, stringent regulation and lack of awareness in emerging economies are expected to impede the market growth.
In-depth Study of the Competitive Landscape:
The global Oncology Information System market consists of various market players, which make this business sphere highly competitive. In this section of the report, the authors have provided authentic information on product portfolios, new product innovations, technological capabilities, and product pricing strategies of each of these players. Moreover, it discusses the key strategies implemented by these players, such as mergers & acquisitions, joint ventures, collaborations, partnerships and agreements, to build on their market presence.
Top companies profiled in the report include:
Varian Medical Systems, Inc., Elekta AB, Altos Solutions, Inc., Cerner Corporation, Koninklijke Philips N.V., McKesson Corporation Accuray Incorporated, Epic Systems Corporation, and CureMD Corporation.
Products & Services Outlook (Revenue in Million USD; 2018–2028)
- Patient Information System
- Treatment Planning System
- Professional Services
- Maintenance Services
- Consulting or Optimization Services
- Implementation Services
Application Outlook (Revenue in Million USD; 2018–2028)
- Radiation Oncology
- Surgical Oncology
- Medical Oncology
End Use Outlook (Revenue in Million USD; 2018–2028)
- Oncology Clinics
- Research Centers
- Government Institutions
Key Market Regions Covered in the Report:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- The Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Frequently asked questions addressed in the report:
- What is the revenue growth rate of the global Oncology Information System market over the forecast period?
- What are the major factors driving the growth of the Global Oncology Information System Market?
- What are the key challenges impacting the global Oncology Information System market growth?
- What are the outcomes of the SWOT Analysis and Porter’s Five Forces Analysis conducted in the report?
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