According to Vision Research Reports, the global Oncology Information Systems market size is expected to be worth around US$ 4.4 billion by 2030 from valued at US$ 2.66 billion in 2020 and is anticipated to grow at a CAGR of 9.4% from 2021 to 2030.
According to Vision Research Reports, the global Oncology Information Systems market size is expected to be worth around US$ 4.4 billion by 2030 from valued at US$ 2.66 billion in 2020 and is anticipated to grow at a CAGR of 9.4% from 2021 to 2030.
Oncology information system (OIS) is a comprehensive information and image management solution that facilitates in the management and optimization of cancer patient profiles & treatment. Patient portfolios are managed by software known as OIS in healthcare settings such as clinics, hospitals, and research laboratories.
Furthermore, this software is used to predict treatment outcomes, plan treatment, and exchange cancer patient information across healthcare organizations. These benefits improve the safety and efficacy of cancer treatment for patients. OIS assists physicians and surgeons in selecting the most appropriate therapy to improve the survival rates of cancer patients.
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Growth Factors
Increasing prevalence of cancer and several initiatives pertaining to cancer research taken by major players are among the key driving factors for market growth.
Increasing investment in the field of oncology are among the factors expected to drive the oncology information system market over the forecast period. For instance, in 2018, Varian announced the acquisition of Noona Healthcare. Noona’s patient software application will help in capturing cancer patient-reported outcomes and facilitate direct communication with the patients. This acquisition will help Varian to boost its oncology software services. General Atlantic a Connecticut based company invested around USD 200 million for launching OneOncology, a company designed for helping community oncology practices with the technology data, innovation and research by leveraging the scale. Thus, these factors are expected to drive the OIS market growth.
Impact of COVID-19
In addition, the COVID-19 outbreak is anticipated to have a negative impact on the oncology information systems market. A huge number of clinics and hospitals across the globe were restructured to increase the hospital capacity for patients diagnosed with COVID-19. Nonessential procedures took a potential backlog due to rapid rise in COVID-19 cases. The lockdown led to disruption of manufacturing and transportation of healthcare essentials. The demand for OIS solutions declined during the pandemic, owing to shut down of many hospitals and oncology clinics. However, increase in vaccination rate is expected to stabilize the market.
| Report Attributes | Details |
| Market Size in 2021 | USD 2.66 Billion |
| Revenue Forecast by 2030 | USD 4.4 Billion |
| CAGR | 9.4% from 2022 to 2030 |
| Largest Market | North America |
| Fastest Growing Region | Asia Pacific |
Products & Services Insights
On the basis of products & services, the global market has been bifurcated into solutions and professional services. In 2021, the solutions segment accounted for the largest share of 73.4% of the global revenue. The segment is also anticipated to register the fastest growth rate during the forecast period. This segment is dominating the market owing to the rising adoption by healthcare providers for the proper management of radiology imaging. These solutions help in capturing cancer patient-reported outcomes and facilitates direct communication with patients and doctors, leading to the growth of this segment.
The segment growth can be further attributed to the development of more advanced OIS Solutions, which aids in better patient data management and improves cancer treatment. The solutions segment is further divided into patient information systems and treatment planning systems, wherein the treatment planning systems segment accounted for the largest share of the market in 2021.However, professional services are being increasingly accepted as most hospitals and clinics are outsourcing OIS services due to the lack of skilled professionals in hospitals and clinics. These services provide online consultation and customized schedules & reports, which, in turn, aid in improving the quality of care.
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Application Insights
On the basis of applications, the global market has been further segmented into medical oncology, radiation oncology, and surgical oncology. The medical oncology segment accounted for the largest share of 61.4% of the global revenuein 2021. The medical oncology segment is further expected to grow at the fastest CAGR over the forecast period owing to the rapid advancements in immunotherapy, hormonal therapy, and targeted therapy for effectively treating various cancers. Moreover, several initiatives pertaining to cancer research are being undertaken by major players, which is further positively influencing the growth of the market.
The surgical oncology segment is also expected to witness significant growth during the forecast years. Cancer care has evolved rapidly over the decades. Surgery is no longer the treatment for most solid malignancies, but the combination of surgery and multi-modal therapies mostly focused on radiotherapy, targeted molecular therapies, and chemotherapy is the preferred treatment. Some procedures, such as cytoreductive surgery, isolated limb perfusion, laparoscopic cancer surgery, and sarcoma surgery can be performed in highly specialized healthcare centers. Thus, increasing complexity in surgical treatments for solid malignancies is expected to drive the growth of the market.
Regional Insights
The North America regional market accounted for the largest revenue share of 38.5% in 2021. 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 OIS to track and record treatment results of cancer patients and the rising importance of EMR for making better treatment decisions are expected to boost the regional market growth. The rising need for treatment schedules management, dose management, and treatment planning is also expected to increase the demand for OIS in this region.
In addition, the strong presence of several global players in the region, such as Accuray Inc. Cerner Corp., Varian Medical Systems, Inc., McKesson Corp., and Epic Systems Corp., supports the market growth. However, Asian countries are witnessing high demand for OIS and are gradually developing due to the supportive government policies and increasing awareness about the benefits of these systems. 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.
Key Players
Elekta AB; Varian Medical Systems; Accuray Incorporated; Cerner Corporation; RaySearch Laboratories; Flatiron.
Market Segmentation
- Products & Services Outlook
- Software
- Patient Information Systems
- Treatment Planning Systems
- Professional Services
- Software
- Application Type Outlook
- Medical Oncology
- Surgical Oncology
- Radiation Oncology
- Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- MEA
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