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 : February, 2021 | Medical Devices

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

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

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

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?