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Global Oncology Information System Market Size, Share, Trends, COVID-19 Impact & Growth Analysis Report – Segmented By Products, and Services (Patient Information Systems, Treatment Planning Systems, Consulting/Optimization Services, Implementation Services and Post-Sale and Maintenance Services), Application (Surgical Oncology, Medical Oncology and Radiation Oncology), End Users & Region - Industry Forecast From 2023 To 2028

Published: March, 2023
ID: 4413
Pages: 180
Formats: report pdf report excel report power bi report ppt

Global Oncology Information System Market Size (2023 to 2028)

The global oncology information system market size is estimated to be worth USD 4.13 billion by 2028 and USD 2.76 billion in 2023, growing at a CAGR of 8.41% during the forecast period.

The oncology information system tracks patient information such as patient history, diagnostic details, prescriptions, and treatment patterns. The oncology information system market has developed rapidly from the rising need to keep track of the diverse aspects of oncology treatments and the growing use of digital tools in healthcare to store data. In addition to the functions mentioned above, this software is used to predict treatment outcomes, plan the treatment of patients accordingly, and exchange cancer patient information across the overall healthcare organizations. These advantages improve the efficiency and safety of cancer therapy for patients. In addition, oncology information systems help surgeons and physicians choose the most appropriate therapy to improve the survival rate of cancer patients.

MARKET DRIVERS:

The growing cancer prevalence, rising adoption of OIS, and increasing aging population worldwide are propelling the global oncology information system market growth.

The prevalence of cancer is significantly growing the developed nations. As per the recent statistics published by cancer.gov, an estimated 1,806,590 new cancer cases are expected to be diagnosed in 2020 in the United States, and 606,520 people will die. In addition, as per World Population Prospects data: the 2019 Revision, an estimated 16% of the world population will be aging more than 65 years, increasing from 9% in 2019. Additionally, technological advancements and associated benefits and a rise in cancer widespread worldwide are anticipated to increase the global oncology information system market growth. Increasing people's awareness about the benefits of ISO is more likely to accelerate the growth rate of the global oncology information system market. Furthermore, governments of various nations are now focusing on introducing new regulations to help and nations adopt information technologies, which is further expected to boost market growth. 

MARKET RESTRAINTS:

However, this market is constrained by factors such as high maintenance and service expenditure and a shortage of healthcare IT professionals, among others. In addition, countries like India find it difficult to receive budget approval for such IT solutions. Besides, difficulties in implementing multiple networks with health setups and wireless connectivity options restrict global oncology information system market growth.

Impact of COVID-19 on the global oncology information system market:

Covid-19 is an infectious disease caused by the most recent novel coronavirus. In March 2020, the world health organization announced covid-19 as the pandemic and the emergence of healthcare. The emergence of the outbreak of covid-19 has positively and negatively impacted the pharmaceutical and life sciences industries. During the first quarter of 2020, due to the implementation of the sudden lockdown, oncology information systems' performance diminished as many hospitals were primarily focused on treating COVID-19 patients. In addition, the pandemic has negatively impacted the market growth of oncology information systems. Hence, oncology treatments' performance had become a challenging factor with the non-availability of hospitals and staff and operation facilities. However, the Oncology market is anticipated to grow significantly during the forecast period.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2022 to 2028

Base Year

2022

Forecast Period

2023 to 2028

Segments Covered

By Products & Services, Applications, End-User, and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

 

This market research report on the global oncology information system market has been segmented and sub-segmented based on the products & services, applications, end-user, and region.

Oncology Information System Market - By Products and Services:

  • Patient Information Systems
  • Treatment Planning Systems
  • Consulting/Optimization Services
  • Implementation Services
  • Post-Sale and Maintenance Services

Based on the products and services, the patient information systems and treatment planning systems are expected to have the largest share in the global market during the forecast period due to the increase in the prevalence of cancer and the increase in the need for information storage systems of the hospitals.

Oncology Information System Market - By Application:

  • Surgical Oncology
  • Medical Oncology
  • Radiation Oncology

The medical oncology market segment is anticipated to be one of the fastest-growing segments based on the application. Medical oncology information systems help manage, interpret, analyze, and store patient information accordingly.

Oncology Information System Market - By End Users:

  • Hospitals & Physician’s Offices
  • Research Centres
  • Government Institutions

Based on the end-user, the hospitals & physician’s offices segment are expected to dominate the market growth with a significant increase in the CAGR during the forecast period. An increase in the adoption of technically advanced cancer treatments in hospitals worldwide, a substantial increase in cancer patients, and growing healthcare expenditure are expected to propel the hospitals & physician’s offices segment.

Oncology Information System Market - By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • The Middle East and Africa

Geographically, North America was the market leader in the global oncology information system market, which Europe and the Asia Pacific followed. The growing R&D activities majorly drive the North American oncology information system market to develop patient-centric oncology systems in this region, increase the prevalence of cancer cases, and advance oncology information system products and procedures in oncology information systems. 

The European oncology information system market accounted for a substantial share of the global market in 2022 and was estimated to register a promising CAGR during the forecast period. Blockchain technology usage in oncology information systems is an essential trend for medical ecosystems in cancer care is expected to drive market growth in this region. Moreover, eliminating paper-based records and treatment plans influences people to opt for oncology information systems in this region.  

The Asia Pacific oncology information system market is anticipated to witness the highest CAGR during the forecast period. Due to factors such as the growth of the medical tourism industry, a huge population base, and government-sponsored cancer treatment programs, the Asia Pacific region is expected to have the fastest growth rate during the forecast period. Emerging countries such as India and China are adopting Oncology information systems to record patients' records and treatment plans, driving market growth. In addition, rising healthcare infrastructure facilities and increasing investments by governments and various organizations for improving healthcare infrastructure will likely boost market growth.

The Latin American oncology information system market is anticipated to record a steady CAGR during the forecast period. The market growth is attributed to growing awareness among people over the availability of different treatment procedures. 

The oncology information system market in the Middle East and Africa held a small portion of the global market share in 2022. However, this regional market is forecasted to hike substantially during the forecast period due to the rising prevalence of cancer in this region.

KEY MARKET PARTICIPANTS:

Notable companies dominating the global oncology information system market profiled in this report are Accuray Incorporated (U.S.), Altos Solutions, Inc. (U.S.), Cerner Corporation (U.S.), Elekta AB (Sweden), Epic Systems Corporation (U.S.), Koninklijke Philips N.V. (The Netherlands), McKesson Corporation (U.S.), and Varian Medical Systems, Inc. (U.S.).

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FAQ's

What factors are driving the growth of the Oncology Information System Market?

The growing number of cancer patients, advancements in cancer treatments, and the need for integrated healthcare systems are driving the growth of the oncology information system market.

What is the size of the Oncology Information System Market?

The global oncology information system market was valued at USD 2.55 billion in 2022.

Which region is expected to dominate the Oncology Information System Market?

North America has the highest chances to register the domination in the worldwide market during the forecast period.

What are the key players in the Oncology Information System Market?

Elekta AB, Varian Medical Systems, Inc., Cerner Corporation, Accuray Incorporated, and RaySearch Laboratories AB are majorly driving the growth of the oncology information system market.

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