Oncology Information System Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

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Oncology Information System Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

Status : August, 2020 | Medical Devices | PPT format

Report Digest

Oncology Information System Market Introduction

An oncology information system is a digital solution for maintaining comprehensive information about cancer patients, which enables doctors and other healthcare professionals to supervise all aspects of oncology care for their patients. Oncology information systems help end-users to obtain more efficiency at the management of treatment plans, schedules, and treatment delivery for oncology patients in a hospital or other healthcare organizations.

Oncology information systems combine medical, surgical, and radiation oncology information and services, enabling end-users to manage their patients’ treatment plans-from diagnosis through post-treatment follow-up. As oncology information systems are aiding healthcare professionals to ensure proper patient care and a healthy treatment with the help of comprehensive patient, its adoption has been on the rise since the past few years. 

Oncology Information System Market – Notable Developments

  • Accuray Incorporated, a leading American company in the oncology information system market, announced partnership between its subsidiary – Accuray Asia Limited and CNNC High Energy Equipment Co., Ltd. – a subsidiary of China Isotope and Radiation Corporation, in January 2019. The joint venture – CNNC Accuray (Tianjin) Medical Technology Co., Ltd., will manufacture and sell radiation oncology information systems in China.
  • McKesson Corporation, another leading player in the oncology information system market, announced in April 2018 that its subsidiary – McKesson Specialty Health and CoverMyMeds – a leader in electronic prior authorization (ePA) solutions and a part of McKesson Rx Technology Solutions, to introduce a new oncology information system with a patient support platform that will facilitate patient access and adherence by connecting healthcare service providers as well as patients, and the life science industry for improved outcomes. 

Some of the most prominent competitors operating in the competitive landscape of global oncology information system market include –

  • Siemens Healthcare
  • Koninklijke Philips N.V.
  • Bogardus Medical Systems, Inc.
  • RaySearch Laboratories AB
  • Cerner Corporation
  • Flatiron Health, Inc.
  • Cordata Healthcare Innovations, LLC
  • Varian Charm Health
  • Accuray Incorporated
  • Elekta AB
  • Bizmatics, Inc.
  • IMPAC Medical Systems, Inc.
  • Epic Systems Corporation
  • CureMD Corporation
  • Medical Systems, Inc.
  • McKesson Corporation

Oncology Information System Market Dynamics

Increasing Prevalence of Cancer – The Primary Driver for the Oncology Information System Market

With the alarming rise in the number of cancer patients, applications of oncology information systems have increased significantly in the past few years. According to the World Health Organization (WHO), cancer is one of the leading causes of death across the globe, claiming one in every six deaths caused each year. The number of deaths caused due to cancer reached 9.8 million in 2018 with 18.1 million new cases, which has encouraged hospitals and healthcare organizations to adopt oncology information systems to organize their cancer care treatments and ultimately improve their surgical success rates. With the increasing prevalence of cancer across the world, the oncology information system market is expected to witness incremental growth in the coming future.

Lack of IT Professionals in Healthcare will Restrict Growth of the Oncology Information System Market

The healthcare industry has been flourishing with the emergence of IT services in the healthcare applications, such as oncology information systems. However, the healthcare industry has been grappling with a major problem – dearth of IT experts in the healthcare industry. According to the WHO, the world was short of over 7.2 million healthcare professionals in 2013, and the number of pegged to surpass 12 million by the end of 2030, as per a report published by the Association of American Medical Colleges (AAMC). As the healthcare industry is facing a serious shortage of healthcare professionals as well IT experts in the healthcare industry, this can prove to be a predominant challenge for vendors in the oncology information system market.

Developed Regions Dominate the Oncology Information System Market, Emerging Economies will Record Fastest Growth

Developed regions, including North America and Europe, are likely to account for the largest share in growth of the oncology information system market with the availability of technologically advanced base for healthcare services. Furthermore, favorable regulatory framework, rapidly growing adoption of the latest technologies in healthcare, along with heavy investments made by the healthcare organizations will augur well for stakeholders in oncology information system markets in developed countries.

Nevertheless, untapped opportunities for IT service providers in the healthcare sector in emerging economies are expected to boost developments in the oncology information system market in emerging nations. Also, more than 70% of cancer deaths occur in middle- and low-income countries, according to WHO. Thereby, increasing prevalence of cancer in developing regions is expected to trigger adoption of oncology information systems in healthcare organizations in the region. 

Oncology Information System Market Segmentation

Based on the types of products and services, the oncology information system market is segmented into,

  • Professional Services
    • Implementation Services
    • Consulting/Optimization Services
    • Post-sale & Maintenance Services
  • Software
    • Patient Information System
    • Treatment Planning System

Based on its applications, the oncology information system market is segmented into,

  • Surgical Oncology
  • Radiation Oncology
  • Medical Oncology

Based on its end users, the oncology information system market is segmented into,

  • Hospitals & Physicians’ Offices
  • Research Centers
  • Governmental Institutions

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

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

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.