Oncology Information System Market Growth Analysis Reveals Key Factors That Will Drive The Growth During Forecast Period (2018-2025)

Global Oncology Information Systems Market were valued at $2,247 million in 2015, and is estimated to reach $3,755 million by 2022, registering a CAGR of 7.5% from 2016 to 2022.

Across the healthcare settings, such as clinics, hospitals, and research laboratories, patient portfolios are managed by software termed as oncology information systems. In addition, this software is used to predict treatment outcomes, plan the patient’s treatment accordingly, and exchange cancer patient information among the overall healthcare organizations. These advantages improve the safety and efficiency of cancer therapy for patients. Oncology information systems help physicians and surgeons to choose the most appropriate therapy to improve the survival rate of the cancer patients. The availability of a variety of cancer therapies, such as chemotherapy and radiation therapy, and presence of huge cancer population base are major factors that drive the market growth.

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Oncology information systems enable management of patient profiles by combining surgical, radiation, and medical oncology information in one system. Moreover, these systems facilitate management of treatment plans and schedules of cancer patients, and predict the results of the treatments. Safety and efficiency of cancer treatment is improved by use of these systems owing to their ability to predict the treatment outcome.

The benefits of implementing oncology information systems over conventional methods of record keeping and treatment planning are expected to boost the growth of the oncology information systems market. The advantages of oncology information systems such as planned treatment, future-proofing, and remote access are expected to increase the demand for these systems and motivate the government organizations to upgrade their procedure from paper-based systems to paperless systems. Furthermore, the increase in disposable income among cancer patients, surge in prevalence of cancer cases, and technological advancements in these systems, such as incorporation of patient portals, are anticipated to fuel the market growth. Rise in healthcare expenditure in developing countries, such as India and China, advancement in software using artificial intelligence, and use of oncology information systems to treat rare cancers are expected to present multiple opportunities for market growth. However, this growth is restricted owing to lack of healthcare IT professionals and high capital costs associated with oncology information systems.

Among the product & service segment, software for patient information system was the largest revenue contributor in 2015 towards market growth, and is anticipated to continue this trend in the future. Advantages of using these systems as compared to conventional record maintenance methods such as planned treatment and remote access due to digital availability are expected to boost the growth of this segment.

Medical oncology dominates the oncology information systems market. In medical oncology, oncology information systems software manages, interprets, analyzes, and stores the patient information efficiently. In addition, as the software assists to predict the treatment outcome for patients, it helps to improve the survival rate of the patient and drives the oncology information systems market growth.

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In 2015, North America accounted for maximum contribution to the total revenue generated, owing to the high prevalence rate of cancer and high adoption rate of technologically advanced products. However, Asia-Pacific is expected to witness the highest CAGR during the analysis period, attributable to rise in disposable income, increase in government initiatives to modernize healthcare infrastructure, and rise in healthcare expenditure.

The report provides a comprehensive analysis of the key players operating in the global oncology information systems market. These include Accuray Incorporated, Bogardus Medical Systems, Inc., Cerner Corporation, CureMD Corporation, Elekta AB, Flatiron Health, Inc., Koninklijke Philips N.V., McKesson Corporation, RaySearch Laboratories AB, and Varian Medical Systems, Inc. The other players operating in the value chain are Charm Health, Siemens Healthcare, Epic Systems Corporation, Bizmatics, Inc., and Cordata Healthcare Innovations.

Key Benefits for Oncology Information Systems Market:

• The study provides an in-depth analysis along with the current trends and future estimations of the global oncology information systems market to elucidate the imminent investment pockets.
• A comprehensive analysis of the factors that drive and restrict the market growth is provided.
• The quantitative analysis of the industry from 2017 to 2025 is provided to enable the stakeholders to capitalize on the prevailing market opportunities.
• An extensive analysis of the key segments of the industry is provided to understand the profitability of the various types of products.
• The key players and their strategies are analyzed to understand the competitive outlook of the market.

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