Oncology Information System Market to Reach USD 4,569 Million by 2026 at a CAGR of 7.7%

Tue, 03 September 2019 11:32

The popularity of the OIS system is increasing rapidly and numerous cancer-based hospitals are adopting the oncology information system for managing patient profile and data for clinical, administrative, and financial activities. In addition, many leading partners are heavily investing in the R&D activities for developing better and efficient oncology systems to sustain in the intense market competition. For instance, Varian Medical Systems Inc. has developed ‘ARIA oncology information system’ that combines radiation, medical, surgical oncology information, and image management solution for oncology care.

Current Trends in Radiation Oncology

For better understanding, we have broadly segmented the global oncology information system market by products and services, application, and end-users.

Based on the application, the market is segmented into medical oncology, radiation oncology, and surgical oncology. Medical oncology is expected to hold the largest market share. On the other hand, radiation oncology is projected to witness the fastest growth during the forecast period as it is one of the most popular preferences for cancer treatment. In addition, innovation techniques such as Intensity Modulated Radiation Therapy (IMRT), Three-Dimensional Conformal Radiotherapy (3D-CRT), and Image-Guided and Stereotactic Radiation Therapy offer better and effective treatment with minimal adverse effects. In India and China, rising penetration of radiotherapy treatment in the private and government hospitals is adding fuel to the market growth.

By end-user, the oncology information system market is segmented into hospitals & physician's office, governmental institutions, and research centers. Hospitals & physician's office segment is dominating the oncology information system market. Once cancer is diagnosed, the patient requires medical treatment and specialized care for months. Modernization of the healthcare infrastructure and mergers and collaboration with hospital and research centers have positively impacted the hospital segment. For instance, Dana-Farber Cancer Institute collaborated with Stamford Hospital Carland Cape Cod Hospital, Hyannis for clinical research.

Regional Insights

Geographically, the global oncology information system market is segmented into North America, Europe, Asia Pacific, and Latin America and the Middle East & Africa (LAMEA).

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Asia Pacific is an emerging market for the oncology information system and is projected to experience considerable growth. Increasing prevalence of cancer is one of the biggest challenges faced by the region. for instance, cervical cancer is one of the leading causes of death among Indian women and accounts for over 22% of all the cancer cases. In addition, a huge population of men in the Asia Pacific is suffering from lung cancer, and it is the second most common cancer in India, Japan, Mongolia, and Taiwan. Moreover, growing number of cancer hospitals and research centers in China, Japan, and India is expected to the support demand for oncology information system. Hong Kong Cancer Registry, Japanese Foundation for Cancer Research, and Japan Cancer Society are some of the organization focusing on the research & development in cancer treatment.  India is known for its oncology tourism as the cancer treatment available in the country is technologically advanced and relatively cheaper.

The prevalence of cervical, breast, and liver cancers is relatively higher in the Middle East. To attend to this situation, numerous cancer awareness camps are being arranged in the region. for example, the Breast Cancer Foundation of Egypt has organized Breast Health Awareness Expansion Program. Whereas, the mortality rate due to breast cancer in sub-Saharan Africa is way higher than high-income countries.

Competitive Landscape

Some of the major players in the global oncology information system market are Bogardus Medical Systems, Inc.(U.S.), Charm Health(Australia), Accuray Incorporated(U.S.), Siemens Healthcare(Germany), Elekta AB(Sweden), CureMD Corporation(U.S.), Cerner Corporation(U.S.), Flatiron Health, Inc.(U.S.), Epic Systems Corporation(U.S.), McKesson Corporation(U.S.), Bizmatics, Inc.(U.S.), RaySearch Laboratories AB(Sweden), Koninklijke Philips N.V.( Netherlands), Cordata Healthcare Innovations LLC(U.S.),, Varian Medical Systems, Inc.(U.S.), and IMPAC Medical Systems, Inc.(U.S.)

Global oncology information system market is witnessing tight competition and is highly consolidated. Players are increasingly focusing on research & development activities for developing innovative technology like oncology information system. In 2018, RaySearch Launched ‘RayCare Oncology Information System’ designed to boost efficiency and connect the different oncology disciplines and ensure optimal use of resources. In 2018, MD Anderson and RaySearch announced a strategic alliance to innovation in radiation oncology system.

" Crucial Insights The Report Provides:"

* Known and Unknown Adjacencies Influencing the Growth of Market

* Explorable Revenue Sources

* Customer Behaviour Analysis

* Target Partners

* Customized Geographical Data Based on Customers as well as Competitors

* Analysis of Market Size and CAGR between the Forecast Periods

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