Oncology Information Systems Market Share, Growth and Future Analysis

 

The global Oncology Information Systems Market size is expected to reach USD 4.6 billion by 2030, registering a CAGR of 7.9% in the forecast period, according to a new report by Grand View Research, Inc. Increasing prevalence of cancer around the globe and rising investment in product development about cancer research undertaken by key players are key driving factors for the growth of the market. According to the estimates published by GLOBOCAN in 2020, 19.3 million new cancer cases were diagnosed and 10.0 million cancer-related mortalities were recorded. Cancer-causing infections like HPV and Hepatitis cause approximately 30% of cases in low-middle-income nations. The growing cancer burden is expected to boost the demand for advanced cancer care & management therapies with accurate and efficient results, thereby aiding the market growth.

Increasing investments in the field of oncology by both governments as well as key players is one of the key factors for boosting the market growth. The U.S. government has allocated $194 million towards Cancer Moonshot and $50 million to Childhood Cancer Data Initiative for the year 2022. Market players are collaborating to enhance product development and expand their business footprint. For instance, in 2020 Accuray Inc. collaborated with Brainlab, a German digital surgery company, to expand Accuray’s CyberKnife platform treatment abilities for the neuro-radiosurgery sector. In 2020, ViewRay Inc. collaborated with VieCure, an AI informatics company, to develop solutions to enhance the adoption of personalized cancer care. These factors are expected to drive market growth.

Solutions in the product & services segment held the largest market share in 2022. The rising adoption of solutions for patient data management and data sharing across different healthcare facilities is primarily responsible for the momentous growth of the market. The OIS solutions are aimed at better management practices as well as providing better treatment courses for optimal patient outcomes. An uptick in the trend for professional services or outsourcing of OIS software management, due to the lack of skilled professionals in the healthcare settings, is also helping the market growth. The medical oncology application segment held the largest market share in 2022. It is also estimated to be the fastest-growing segment from 2023 to 2030.

Innovations in immunotherapy, radiotherapy as well as targeted therapy for specific cancers have led the market growth. The surgical oncology segment is also expected to witness significant growth owing to technological advancements in the field of surgical interventions related to the treatment of various cancers. North America was the largest regional market in 2022 owing to the presence of major players. The sophisticated healthcare system and high awareness of the importance of proper management of patient data have also led to regional market growth. Asia Pacific is projected to be the fastest-growing regional market due to rising expenditure on healthcare IT and overall healthcare facilities and supportive government initiatives.

Related Press Release@ Oncology Information Systems Market Report

Oncology Information Systems Market Report Highlights

• The market growth can be attributed to technological advancements in OIS and the increasing prevalence of cancer on a global level
• The solutions segment dominated the market in 2022 owing to the increasing penetration of this suite of solutions across all healthcare settings, such as hospitals, ASCs, cancer research centers, and clinics
• In addition, it aids in streamlining the patient management and data management processes
• Key players are focused on developing more advanced OIS to improve cancer treatment. Companies are solely partnering with other key players to accelerate product development
• For instance, in April 2019 Accuray Inc. launched Synchrony Motion Tracking and Correction technology for its Radixact system
• In January 2018, Elekta collaborated with IBM Watson Health to develop and improve Elekta’s cancer care systems
• In 2020, Varian Medical Systems invested USD 10.0 million in COTA Inc. and entered a strategic collaboration with the company to strengthen its position in the cancer care sector
• Such initiatives are expected to boost the growth and development of OIS during the forecast period

List of Key Players in Oncology Information Systems Market

• Elekta AB
• Cerner Corp.
• Varian Medical Systems
• Flatiron
• RaySearch Laboratories
• Accuray Inc.
• BrainLab
• Philips Healthcare
• Prowess, Inc.
• DOSIsoft S.A.
• ViewRay Inc.
• MIM Software
• McKesson Corporation
• Siemens Medical Solutions, Inc.

Related Reports

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Oncology Information Systems Market Segmentation

Grand View Research, Inc. has segmented the global oncology information systems market based on product & services, application, end-user and region:

OIS Products & Service Outlook (Revenue, USD Million, 2016 - 2030)

• Solutions
• Patient Information System
• Treatment Planning System
• Professional Services

OIS Application Outlook (Revenue, USD Million, 2016 - 2030)

• Medical Oncology
• Radiation Oncology
• Surgical Oncology

OIS End User Outlook (Revenue, USD Million, 2016 - 2030)

• Hospitals & Diagnostic Imaging Centers
• Ablation Care Centers and Cancer Care Centers
• Government Institutions
• Research Facilities

OIS Regional Outlook (Revenue, USD Million, 2016 - 2030)

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Italy
• Spain
• Asia Pacific
• Japan
• China
• India
• Thailand
• South Korea
• Latin America
• Brazil
• Mexico
• Argentina
• Colombia
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE

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Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

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