Oncology Information Systems Market Size to Exceed USD 4.1 Bn by 2027

According to Nova one advisor, the global Oncology Information Systems market gathered revenue around USD 2.0 Billion in 2020 and market is set to grow USD 4.1 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 7.0% during the prediction period 2022 to 2030.

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 Increasing prevalence of cancer around the globe and rising investment in product development about cancer research undertaken by key players are key driving factors for the growth of the market. According to the estimates published by GLOBOCAN in 2020, 19.3 million new cancer cases were diagnosed and 10.0 million cancer-related mortalities were recorded. Cancer-causing infections like HPV and Hepatitis cause approximately 30% of cases in low-middle-income nations. The growing cancer burden is expected to boost the demand for advanced cancer care & management therapies with accurate and efficient results, thereby aiding the market growth.

Increasing investments in the field of oncology by both governments as well as key players is one of the key factors for boosting the market growth. The U.S. government has allocated $194 million towards Cancer Moonshot and $50 million to Childhood Cancer Data Initiative for the year 2022. Market players are collaborating to enhance product development and expand their business footprint. For instance, in 2020 Accuray Inc. collaborated with Brainlab, a German digital surgery company, to expand Accuray’s CyberKnife platform treatment abilities for the neuro-radiosurgery sector. In 2020, ViewRay Inc. collaborated with VieCure, an AI informatics company, to develop solutions to enhance the adoption of personalized cancer care. These factors are expected to drive market growth.

Solutions in the product & services segment held the largest market share in 2021. The rising adoption of solutions for patient data management and data sharing across different healthcare facilities is primarily responsible for the momentous growth of the market. The OIS solutions are aimed at better management practices as well as providing better treatment courses for optimal patient outcomes. An uptick in the trend for professional services or outsourcing of OIS software management, due to the lack of skilled professionals in the healthcare settings, is also helping the market growth. The medical oncology application segment held the largest market share in 2021.It is also estimated to bethe fastest-growing segment from 2022 to 2030.

Innovations in immunotherapy, radiotherapy as well as targeted therapy for specific cancers have led the market growth. The surgical oncology segment is also expected to witness significant growth owing to technological advancements in the field of surgical interventions related to the treatment of various cancers. North America was the largest regional market in 2021 owing to the presence of major players. The sophisticated healthcare system and high awareness of the importance of proper management of patient data have also led to regional market growth. Asia Pacific is projected to be the fastest-growing regional market due to rising expenditure on healthcare IT and overall healthcare facilities and supportive government initiatives.

Report Coverage

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Oncology Information Systems Market Report Highlights

• The market growth can be attributed to technological advancements in OIS and the increasing prevalence of cancer on a global level
• The solutions segment dominated the market in 2021owing to the increasing penetration of this suite of solutions across all healthcare settings, such as hospitals, ASCs, cancer research centers, and clinics
• In addition, it aids in streamlining the patient management and data management processes
• Key players are focused on developing more advanced OIS to improve cancer treatment. Companies are solely partnering with other key players to accelerate product development
• For instance, in April 2019 Accuray Inc. launched Synchrony Motion Tracking and Correction technology for its Radixact system
• In January 2018, Elekta collaborated with IBM Watson Health to develop and improve Elekta’s cancer care systems
• In 2020, Varian Medical Systems invested USD 10.0 million in COTA Inc. and entered a strategic collaboration with the company to strengthen its position in the cancer care sector
• Such initiatives are expected to boost the growth and development of OIS during the forecast per

Regional analysis:

North America dominated the oncology information systems market and accounted for the largest revenue share of 38.4% in 2020. Key factors responsible for this growth include the presence of sophisticated healthcare infrastructure and increasing awareness about patient information management in the region. Moreover, the growing adoption of oncology information systems to track and record treatment results of cancer patients and the rising importance of EMR for making better treatment decisions are some of the key factors boosting the demand for oncology information systems. Moreover, the rising need to manage treatment schedules, dose management, and treatment planning are expected to increase the demand for OIS in this region. Some of the major players operating in North America are Accuray Incorporated; Cerner Corporation; Varian Medical Systems, Inc.; McKesson Corporation; and Epic Systems Corporation.

However, Asian countries are witnessing high demand for oncology information systems and are gradually developing due to increasing awareness of the benefits of the OIS and supportive government policies. This region may serve as a hot revenue pocket for players wishing to tap the potential of this region. Therefore, players wishing to capture a large share in this market must design specific pricing policies and also marketing strategies developed specifically for this region that will help them gain a foothold in these lucrative markets.

Some of the prominent players in the Oncology Information Systems Market include:  Elekta AB; Accuray Incorporated; Varian Medical Systems; RaySearch Laboratories; Cerner Corporation; BrainLab; Philips Healthcare; Prowess, Inc.; DOSIsoft S.A.; ViewRay Inc.; MIM Software; Flatiron Health, Inc.

Segments Covered in the Report

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2027 and covers subsequent region in its scope:

• By Products & Services
  • Software
    • Patient Information Systems
    • Treatment Planning Systems
  • Professional Services
• By Application
  • Medical Oncology
  • Radiation Oncology
  • Surgical Oncology

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Benefits for Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the global Oncology Information Systems industry analysis from 2022 to 2030 to identify the prevailing Oncology Information Systems industry opportunity.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the global Oncology Information Systems industry segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global Oncology Information Systems industry trends, key players, market segments, application areas, and market growth strategies.

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