Oncology Information Systems Market Research Report: by Product & Service Type (Software, Professional Services), Application (Medical Oncology, Radiation Oncology, Surgical Oncology), End User (Hospitals & Oncology Clinics) – Forecast Till 2027
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Market Highlights:
The Global Oncology Information Systems (OIS) Market held a market value of USD 2,356.6 million in 2017 and is projected to grow at a CAGR of 7.5% over the forecast period. OIS is a complete information and image management solution that enables the management of patient treatment schedules, treatment plans, treatment delivery, and treatment summaries. Overall, this system allows healthcare professionals to oversee all aspects of oncology care for their patients. Factors accounted for the market growth are globally growing older population coupled with rising incidence of cancer, the presence of favorable government initiatives, mounting investments in cancer research, and technological advancements in OIS. In contrast, higher costs associated with OIS services are anticipated to hinder the market growth during the forecast period from 2018 to 2023.
Regional Analysis:
The Global Oncology Information Systems Market has been segmented by region into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. On the basis of region, the Americas is expected to dominate the global oncology information systems market due to various major market participants domiciled, a surge in the number of cancer cases, the presence of developed healthcare infrastructure, and higher adoption rate of technologically advanced devices or services.
Europe will follow Americas in terms of revenue during the forecast period attributed to risng cancer incidence and increasing adoption and use of healthcare IT in European countries such as UK, Germany, France, Spain, and Italy. According to the World Health Organization (WHO) and International Agency for Research on Cancer (IARC), Europe accounts for 23.4% of the global cancer cases and 20.3% of the cancer deaths, though it has 9.0% of the global population.
The market in Asia-Pacific is anticipated to exhibit comparatively higher CAGR during the forecast period owing to the presence of geriatric population base, rising mortality burden of cancer, and growing awareness about oncology information systems in India, China, Japan, and Australia.
The Middle East & Africa has the least share of the global oncology information systems market. Additionally, the major market share of the region would be held by the Middle East region due to improving quality healthcare in the Middle East. The healthcare sector is constantly changing in the Middle East, and the industry has seen many opportunities over the past few years. The rapidly progressing technological landscape would continue to shape healthcare in the near future.
Segmentation:
The Global Oncology Information Systems Market has been segmented into product & service type, application, and end user.
By product & service type, the market has been segmented into software and professional services. The software segment is further categorized into patient information systems and treatment planning systems. The professional services segment is further divided into consulting/optimization services, implementation services, and post-sale & maintenance services.
On the basis of application, the market has been classified into medical oncology, radiation oncology, and surgical oncology.
Based on end user, the market has been categorized into hospitals & oncology clinics, government institutes, and research centers. The hospitals & oncology clinics segment is expected to hold major chunk of the market during the forecast period due to comparatively higher adoption of OIS in these healthcare settings.
Key Players:
Some of the major players in the global oncology information systems market are Accuray Incorporated, Philips Healthcare, Cerner Corporation, McKesson Corporation, Elekta AB, Altos Solutions, Inc., Varian Medical Systems, Inc., Flatiron Health, Inc., RaySearch Laboratories, Epic Systems Corporation, Bogardus Medical Systems, Inc., and CureMD Healthcare.
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