Oncology Information Systems Market Overview
The global oncology information systems market is expected to exhibit a robust 7.5% CAGR over the forecast period from 2022 to 2030, according to the latest research report from Market Research Future (MRFR). The research values the global oncology information system market at USD 4.56 billion by 2030 and projects smooth growth for the market over the forecast period due to the steady growth in the prevalence of cancer around the world and the growing acceptance of modern oncology information systems. Rising awareness about the utility of oncology information systems in making cancer treatments easier for both patients and doctors is likely to drive the global oncology information systems market over the forecast period.
The growing prevalence of cancer is likely to remain the major driver for the global oncology information systems market over the forecast period. Cancer has become a major worldwide health threat due to its growing prevalence, which included 17 million new cases in 2018, according to the International Agency for Research on Cancer. The number is expected to reach 22 million in 2030, leading to it becoming a major issue for healthcare agencies all over the world. This is likely to remain the major driver for the global Oncology Information Systems Market over the forecast period, as the growing prevalence of cancer drives proportionate growth in the markets for other equipment and devices needed to treat it.
The increasing investment in cancer research and technological upgrades in cancer treatment equipment is also likely to be a major driver for market over the forecast period. Technological advancements in oncology information systems could play a major role in the growth of the market over the forecast period, as modernizing oncology information systems in tune with the times is to the benefit of the manufacturer.
Market Segmentation
The global oncology information systems market has been segmented on the basis of product service type, application, end user, and region.
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 subdivided into consulting/optimization services, implementation services, and post-sale maintenance services. Patient information systems hold the largest share in the global oncology information systems market at present.
On the basis of application, the market has been classified into medical oncology, radiation oncology, and surgical oncology. Medical oncology is likely to dominate the market over the forecast period.
Based on end user, the market has been segmented into hospitals oncology clinics, government institutes, and research centers.
Regional Analysis
The Americas, Europe, Asia-Pacific, and the Middle East and Africa are the regions that make up the market. The Americas are expected to dominate the global oncology information systems market due to the involvement of many major market players, an increase in the number of cancer cases, developed healthcare infrastructure, and a higher acceptance rate of technologically advanced devices or services.
During the forecast era, Europe will trail the Americas in terms of sales, owing to rising cancer incidence and increased acceptance and use of healthcare IT in European countries such as the United Kingdom, Germany, France, Spain, and Italy. While having just 9.0 percent of the global population, Europe accounts for 23.4 percent of cancer cases and 20.3 percent of cancer deaths, according to the World Health Organization (WHO) and the International Agency for Research on Cancer (IARC).
Due to the presence of a geriatric population base, increasing cancer mortality burden, and growing knowledge about oncology information systems in India, China, Japan, and Australia, the market in Asia-Pacific is expected to expand at a faster rate during the forecast period.
The Middle East and Africa has the smallest market share for oncology information systems in the world. Furthermore, due to improved healthcare quality in the Middle East, the Middle East would hold the majority of the region's market share. In the Middle East, the healthcare sector is rapidly evolving, and the industry has seen many opportunities in recent years. In the near future, the rapidly evolving technical environment will continue to affect healthcare.
Competitive Analysis
Accuray Incorporated, Cerner Corporation, Philips Healthcare, McKesson Corporation, Altos Solutions, Inc., Elekta AB, Varian Medical Systems, Inc., Flatiron Health, Inc., RaySearch Laboratories, Epic Systems Corporation, Bogardus Medical Systems, Inc., and CureMD Healthcare are some of the prominent players in the global oncology information systems market. Players
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