Global Oncology Information Systems Market Opportunities, And Their Financials

The Global oncology information systems market was valued over US$ 2 billion in 2017 and is expected to register a CAGR of 8.1%.

Oncology information systems are better alternatives to conventional techniques for treatment planning and record keeping in medical facilities. Advantages of oncology information systems such as planned treatment, future-proofing, and remote access are features expected to result in rising demand for these systems in the near future.

Increasing incidence of cancer globally is other factor driving growth of global oncology information systems market over the forecast period. According to WHO, in terms of mortality, there is less regional variability than for incidence, with mortality rates being 15% higher in more developed than in less developed regions in men, and 8% higher in women in 2013.

Increasing government initiatives in the developing countries such as Brazil, China, India, and South Africa to improve the process of diagnosing diseases and treatment outcomes is further expected to support growth of the global market over the forecast period.

scarcity of trained or experienced healthcare IT professionals who can operate and use oncology information systems efficiently, especially in developing economies, is expected to hamper growth of the global market over the forecast period.

On the basis of product and service, the market is segmented based on software and professional services. The software segment is expected to contribute major revenue share and is expected to maintain its dominance over the forecast period.

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North America market is expected to dominate the global oncology information systems market, and it accounts for largest market revenue as compared to that of markets in other regions.

Increasing incidence of cancer coupled with growing awareness about cancer treatment among individuals in countries in the region is another major factor boosting growth of the North America oncology information system market.

Dominance by Asia Pacific market is expected to continue over the forecast period and expected to grow with a CAGR over 8%. Increasing incidence of cancer, presence of large patient pool, and increasing government initiatives for spreading awareness about cancer and cancer treatment, especially in emerging economies such as China and India is expected to drive growth of the market in the region over the forecast period.

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