As per the report published by Allied Market Research, the global oncology information system market generated $3.08 billion in 2020, and is expected to reach $5.53 billion by 2030, registering a CAGR of 6.0% from 2021 to 2030.
Rise in prevalence of cancer cases and various treatment patterns coupled with availability of several OIS with improved features have boosted the growth of the global oncology information system market. However, high cost associated with the system and lack of trained workforce for handling healthcare management and information technology systems hinder the market growth. On the contrary, surge in use of artificial intelligence and development of plethora of products would open new opportunities in the future.
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The growth of the global OIS market is attributed to rise in cancer cases and increase in adoption of technologically advanced treatments. Moreover, increase in healthcare expenditure and rise in disposable income are expected to drive the market growth during the forecast period.
Oncology information systems (OIS) enable management of patient profiles by combining surgical, radiation, and medical oncology information in one system. Moreover, these systems facilitate management of treatment plans & schedules of cancer patients and predict the results of the treatment. Safety and efficiency of cancer treatment is improved by use of these systems, owing to their ability to predict the treatment outcome.
The benefits of implementing OIS over conventional methods of record keeping and treatment planning are expected to boost the growth of the oncology information systems market. The advantages of OIS such as planned treatment, future-proofing, and remote access are expected to increase the demand for these systems and motivate the government organizations to upgrade their procedure from paper-based systems to paperless systems.
Oncology Information Systems Market Segmentation
Based on Product & Services
The services segment is expected to portray the highest CAGR of 6.4% during the forecast period. In addition, the segment held the largest share in 2020, contributing to nearly two-thirds of the market.
Basis of Application
The medical oncology segment is projected to manifest the highest CAGR of 6.6% during the forecast period. Furthermore, the segment held the lion’s share in 2020, accounting for more than two-fifths of the market.
Based on Region
The report offers an analysis of the global oncology information system market across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America dominated in 2020, holding more than one-third of the market. However, the market across Asia-Pacific is projected to showcase the highest CAGR of 7.4% during the forecast period.
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Major Market Players
- Accuray Incorporate
- BMSI Partners Inc., (Bogardus Medical Systems, Inc.)
- Cerner Corporation
- CureMD Corporation
- Elekta AB
- F. Hoffmann LA Roche AG (Flatiron Health, Inc.)
- Siemens AG (Siemens Healthnieers)
- Koninklijke Philips N.V.
- McKesson Corporation
- Nasdaq Inc. (RaySearch Laboratories AB).
Key Benefits for Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the market analysis from 2021 to 2031 to identify the prevailing oncology information systems market Opportunity.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the market segmentation assists to determine the prevailing oncology information systems market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global oncology information systems market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the oncology information systems market players.
- The report includes the analysis of the regional as well as global trends, key players, market segments, application areas, and market growth strategies.
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