Oncology Information System Market Analysis by Key Growth Factors and Opportunities Forecasts to 2024

Oncology information system is an image and information management system that allows to check all parts of oncology care for patients. Oncology information system combines medical, surgical, and radiation oncology information into a comprehensive, oncology electronic medical record that allows to manage patient's details from start of the patient’s admission through diagnosis and follow-up details.

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The factors driving the growth of the oncology information system market are increase in technological adaption and technological advancement. Increase in health care infrastructure in developing nations, growth in prevalence of secondary tumor, and rise in incidence of cancer are the other factors anticipated to propel the growth of the oncology information system market during the forecast period. According to the National Cancer Institute, cancer is among the leading causes of death worldwide; in 2012, there were 14 million new cases and 8.2 million cancer-related deaths worldwide. However, lack of health care IT professionals and strict regulation are likely to restrict the growth of the oncology information system market.

According to a report by the American Cancer Society, 50% of men and 30% of women are estimated to develop cancer in some form or the other in their lifetime. Increase in amount of cancer patients is a major driver of the sales of the oncology information system market. Additionally, rise in amount of tobacco consumption and increase in amount of carcinogens present in the polluted air or in any other form are projected to drive the oncology information system market in the near future. Some of the factors driving the growth of the market are rising disposable income, which enables patients to avail expensive treatments, easily available medical insurance policies, and growing medical tourism activities. Heavy investments in R&D further act as an opportunity for the growth of the market since innovative and technologically advanced products always have the capability of substituting its predecessors.

The oncology information system market has been segmented by product, application, end-user, and geography. Based on product, the oncology information system market is classified into patient information system, treatment planning system, consulting/optimization, implementation, maintenance, services, and others. Based on application, the market is segmented into care management, treatment management, and knowledge management. Based on end-user, the oncology information system market is segmented into hospital, government institution, research center, and others.

Geographically, the oncology information system market in segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to account for a large market share in terms of revenue, followed by Europe. The oncology information system market in North America is expected to grow due to technological advancement and increase in demand for advanced product. The growing need to implement advanced systems in the health care sector in the region and, at the same time, deliver quality care to patients are the factors likely to drive the market in the near future. Asia Pacific is expected to rise at a high CAGR owing to increase in adoption of technological advanced products, growth in disposable income, and rise in health care infrastructure in countries such as India, China, Australia, and other countries in the region. The Latin America oncology information system market is mainly driven by the increasing adoption of technological products in countries such as Brazil and Mexico. The Middle East & Africa oncology information system market is estimated to grow in the near future due to rise in incidence of cancer. According to World Health Organization, women in the African region had the highest incidence of cancer of the cervix uteri.

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Major players operating in this market include CureMD Healthcare, Varian Medical Systems, Inc., Flatiron Health, Inc., Epic Systems Corporation, Bogardus Medical Systems, Inc., Cerner Corporation, McKesson Corporation, Koninklijke Philips N.V., Elekta AB, and Accuray Inc.

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