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28-Mar-2019

Oncology Information Systems Market Expected To Generate A CAGR of 8.10% By 2026

The global oncology information systems market was valued over US$ 2 billion in 2017 and is expected to register a CAGR of 8.1%. The global oncology information systems market revenue is expected to register a moderate CAGR over the forecast period.

Oncology information systems are used to maintain patient records, to predict treatment results, plan treatment for cancer patients accordingly, and exchange cancer patient information across healthcare organizations, which improves safety and efficiency of cancer treatment. In addition, oncology information systems help physicians and surgeons to choose a suitable therapy which in turn helps to improve survival rate of cancer patients.

Various advantages offered by oncology information systems such as safety and efficiency is major factor expected to drive the growth of global oncology information systems market over the forecast period. Increasing number of cancer patients globally is other factor expected to boost growth of the market over the forecast period.

Increasing incidence of cancer globally is other factor driving growth of global oncology information systems market over the forecast period. According to WHO, in terms of mortality, there is less regional variability than for incidence, with mortality rates being 15% higher in more developed than in less developed regions in men, and 8% higher in women in 2013. According to World Health Organization (WHO), cancer is the second leading cause of death globally, and was responsible for 8.8 Mn deaths in 2015. Around one in six deaths is due to cancer globally.

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Implementation of electronic medical records and e-prescribing is another factor driving growth of the global oncology information systems market over the forecast period. Increasing government initiatives in the developing countries such as Brazil, China, India, and South Africa to improve the process of diagnosing diseases and treatment outcomes is further expected to support growth of the global market over the forecast period. The global oncology information systems market is segmented on the basis of product and service, application, end user, and region.

On the basis of product and service, the market is segmented based on software and professional services. The software segment is expected to contribute major revenue share and is expected to maintain its dominance over the forecast period. Continuous focus by manufactures operating in the target market to develop advanced software that provides accuracy and efficiency in treatment of cancer patients is expected to boost revenue growth of this segment over the forecast period.

On the basis of application, medical segment is expected to be fastest growing product segment in the global oncology information systems market as it offers data protection and improved user experience, and also enables hospitals/clinics to offer seamless, simplified, and secure patient care.

Hospital & physician’s offices segment is expected to be fastest growing product segment in the global oncology information systems market. This is attributed to the various benefits associated with use of oncology information systems such as ease of scheduling, simulation, and treatment planning, and also oncology information systems being an integral part in decision-making process by physicians, are major factors boosting adoption of oncology information systems.

Based on product and service, the global oncology information systems market is segmented based on software and professional services, the software market is expected to account major revenue share of the market and is anticipated to witness rapid growth rate over the forecast period. Continuous focus by manufactures operating in the target market to develop advanced software that provides accuracy and efficiency in treatment of cancer patients is expected to drive revenue growth of this segment over the forecast period.

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Regional segmentation includes North America, Europe, Latin America, Asia Pacific and Middle East and Africa. North America contributes major revenue share as compared to that of other region. This is attributed to the increasing number of cases of cancer and significant presence of prominent international players in the region. Asia Pacific market is expected to register rapid growth rate over the forecast period.

Some prominent players in the global oncology information systems market are Accuray Incorporated, Flatiron Health, Inc., Cerner Corporation, Elekta AB (pub), Epic Systems Corporation, Koninklijke Philips N.V., McKesson Corporation, Varian Medical Systems, Inc., CureMD Corporation, and Raysearch Laboratories.

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Last Updated: 28-Mar-2019