This report was recently updated on April 12 2024 with the latest and most recent
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Global Oncology Information Systems Market Size, Trends, and Analysis - Forecasts To 2026 By Product & Service (Professional Services, Software), By Application (Radiation Oncology, Surgical Oncology, Medical Oncology), By End-User (Hospitals & Diagnostics Imaging Centers, Government Institutions, Research Facilities, Ablation Care Centers and Cancer Care Centers, Others), By Region (North America, Asia Pacific, CSA, Europe, and the Middle East and Africa); End-User Landscape, Company Market Share Analysis & Competitor Analysis
The oncology information system is software that is designed to monitor and manage the profiles of multiple patients through clinics, research laboratories, and hospitals in healthcare centers. This software offers a method to keep track of the profile of patients receiving cancer treatment, thus improving patient quality and safety. It aims at enhancing performance, connecting numerous oncology disciplines, and ensuring the best use of resources to help the oncology center's effective workflow. OIS credentials have enhanced consumer protection and professional efficacy. Different tools are available, such as paper-based, hospital registries, and network, among others which will help to sustain health industry oncology information.
Furthermore, evolving healthcare policies to promote smart technology, improving patient needs and safety to better treat cancer patients has contributed to significant growth in the market for oncology information systems. One of the key developments is the increasing usage of AI in oncology information systems along with the implementation of oncology information systems for the treatment of rare types of cancer is driving the market growth over the forecast timeline.
The number of late-stage pathway therapies grew from 711 in 2017 to 849 in 2018, an acceleration of 19 % attributable to the increasing number of unique therapies in the oncology pathway, and that the use of information technology enables the health authorities and treatment providers to drive market growth in the handling of these therapies' information.
As per breastcancer.org, approximately one in eight women in the United States will be diagnosed with breast cancer. It is estimated that around 2,34,030 new lung cancers were diagnosed in 2018, as per the American Lung Association.
The disease epidemic has resulted in a massive decrease in demand for oncology information solutions. The pandemic has also impacted the field of oncology because they are being redeployed for the care of COVID patients since doctors are not sufficiently able to focus on normal patients. Doing oncology surgery and rehabilitation has now become a big problem with the lack of operation facilities and hospital staff availability.
The software products accounted for the largest revenue share in 2019 due to the increasing adoption of web-cloud-based models, along with the increasing occurrence of cancer, and launching new products is anticipated to drive the market growth over the forecast era. Critical actions are performed by the software, such as extensive patient care, clinical regimes, tracking practices, and pharmacy information. Periodic updates are required for software synchronization with the latest analytics. Also, OIS software can help easily and efficiently handle the care in hospitals and oncology centers.
The treatment planning system is projected to broaden at a high CAGR over the projected timeframe owing to the efficiency provided by these systems, like scheduling and proper treatment planning. These are the center of radiation therapy and are an important factor in enhancing the results of patients.
During the forecast era, the radiation oncology application segment is anticipated to boost market share. Factors that are anticipated to boost this market segment in the forecast period are the increasing number of fracture-related radiosurgery treatments, the growing installation base for radiotherapy equipment, the production of advanced radiology information systems and radiation therapy planning systems, and the rapid growth of the cancer-affected population worldwide.
Medical oncology is anticipated to see the fastest development over the forthcoming years. The growth of the segment is expected to be powered by the increasing use of immunotherapy, chemotherapy, and hormonal therapy.
In 2019, the hospital & diagnostic imaging centers segment accounted for the largest share position. It is due to the high targeted population of patients (particularly in developing countries) who prefer hospitals, the growing volume of procedures in hospital environments, the increasing focus on successful and early diagnosis of diseases in hospitals, and the high budget of hospitals for the implementation of various products for oncology information systems that are technologically advanced. Furthermore, the rising number of research studies associated with Cancer is anticipated to boost the market growth of the research facilities.
In sales terms, the North American region remains the leading market shareholder for the forecast timeframe. It is driven by factors that have led to the market due to the increasing occurrence of cancer, the increasing number of skilled professionals and R&D facilities to build patient-centered oncology information systems, and technical advancement in OIS procedures and products.
Furthermore, a substantial CAGR rate over the expected timeframe will be demonstrated in the Asia-Pacific region. The elevated prevalence of cancer coupled with strategic initiatives and spending in the healthcare sector can be attributed to the growth. Moreover, the increasing medical tourism, along with rising digital health reforms, are some of the factors influencing the regional market growth.
Mckesson Corporation, Elekta AB, Philips Healthcare, Cerner Corporation, Accuray Incorporated, Allscripts Healthcare Solutions, Inc., Raysearch Laboratories AB, Bogardus Medical Systems, Inc., Mica Information Systems, Inc., Varian Medical Systems, Inc., Siemens Healthineers, GE Healthcare, IBM, Epic Systems Corporation, F. Hoffmann-La Roche AG, Curemd Healthcare, Optum, Advanced-Data Systems, AmerisourceBergen Corporation, and Endosoft, LLC, among others are the prime competitors that compete in the market.
Please note: This is not an exhaustive list of companies profiled in the report.
In September 2020, Varian Medical Systems, Inc. certified by FDA and received approval for the Eclipse v16.1 proton therapy treatment planning software
In September 2020, Siemens Healthineers signed a definitive agreement to procure Varian Medical Systems to enhance the current oncology information systems portfolio of the company.
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The Global Oncology Information Systems Market has been studied from the year 2019 till 2026. However, the CAGR provided in the report is from the year 2021 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply-side analysis for the Oncology Information Systems Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.
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