Technological advancements in OIS, associated advantages of OIS over conventional record maintenance, integration of oncology information systems for the treatment rare cancer types and surge in prevalence of cancer worldwide are key factors contributing to high CAGR of Oncology Information System market during forecast period.
Market Size – USD 6,687.9 Million in 2020, Market Growth – CAGR of 8.4% Market Trends – Rising incidences of target diseases, Technological advancements in the field of healthcare IT
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.
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.
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Further key findings from the report suggest
- According to the American Lung Association, around 234,030 new lung cancers were expected to diagnose. The causes of such a hike in the incidences of lung cancers are the exploitation in the use of tobacco, cigarettes, growing air pollution.
- According to the World Health Organization, cancer is stated to be the world’s leading cause of death. One in every six deaths is caused due to cancer. The majority of the deaths are caused due to delay in the diagnosis of the cancers. The increase in the awareness programs by the government would push up the market to a newer heights in the near future.
- Artificial Intelligence, which is the recent advancement brought up in the Oncology Information System sector, which promotes the comparison of the previous incidences of the side-effects, contraindications for the patients. Gleason score, the AI system was on par with the international experts to detect and grade prostate cancer on the same level as leading experts. The growing demand for the data management and the options offered by the IT segment for a proper data management and decision making platform, would help the market to escalate in the near future.
- According to Novartis, it was estimated that there are more than 200 types of cancer which need unique diagnosis and treatment. Additionally, it is expected that more than 21 million new cases would be diagnosed by 2030. The predictions gave an overall scenario of the increase in the prevalence of the cancer which would increase the shares in the forecast period.
- RaySearch and MedLever announced interoperability agreement to give more efficient ways of organizing data for oncology centers. This agreement promotes an ecosystem with fewer data silos and greater degrees of transparency that improve clinician satisfaction and patient care. The mission which was set to achieve the goal to allow better management of the data and allowing this data to be useful for the clinicians is expected to increase the market shares in the coming years.
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Additionally, the report consists a detailed analysis of the segmentation of the Oncology Information System market based on product types and end-use/application offered in the Oncology Information System market.
Oncology Information System Market Segmentation based on Types:
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
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Country-wise regional analysis covers:
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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