Oncology Information Systems Market is estimated to reach $5,538.66 Million by 2030, growing at a CAGR of 6%

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

The global oncology information systems market size was valued at $3,082.3 Million in 2020, and is estimated to reach $5,538.66 Million by 2030, growing at a CAGR of 6% from 2021 to 2030.

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Rise in prevalence of cancer cases and various treatment patterns coupled with availability of several OIS with improved features have boosted the growth of the global oncology information system market. However, high cost associated with the system and lack of trained workforce for handling healthcare management and information technology systems hinder the market growth. On the contrary, surge in use of artificial intelligence and development of plethora of products would open new opportunities in the future.

The benefits of implementing OIS over conventional methods of record keeping and treatment planning are expected to boost the growth of the oncology information systems market. The advantages of OIS 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.

The major factor that drives the OIS market is surge in the cancer cases. According to the World Health Organization (WHO), cancer is a leading cause of death across the globe, and approximately 70% of deaths due to cancer occur in low and middle income countries. By 2040, the number of new cancer cases per year are expected to rise to 29.5 million and the number of cancer-related deaths are expected to be 16.4 million. Thus, rise in prevalence of cancer is anticipated to drive the oncology information systems market.

By product & services, it is divided into services and software. The services segment generated maximum revenue in 2020, accounting $2,015.77 million, and is expected to witness highest CAGR of 6.4% during the forecast period.

On the basis of application, it is classified into radiation oncology, medical oncology, and surgical oncology. The medical oncology segment generated maximum revenue in 2020, accounting $1,346.85 million, and is expected to witness highest CAGR of 6.6% during the forecast period.

According to the end user, the market is divided into hospitals & oncology clinics and research centers. The hospitals & oncology clinics segment generated maximum revenue in 2020, accounting $2,939.59 million. The research centers segment is expected to witness highest CAGR of 7.5% during the forecast period.

Region wise, North America accounted for a majority of the global oncology information systems market share in 2020, and is anticipated to remain dominant during the forecast period. This is attributed to increase in cancer cases and adoption of technologically advanced treatments. However, Asia-Pacific is anticipated to witness notable growth, owing to increase in disposable income and rise in investment in healthcare sector.

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The global oncology information system market report includes an in-depth analysis of the prime market players such as Accuray Incorporated, BMSI Partners Inc., (Bogardus Medical Systems, Inc.), Cerner Corporation, CureMD Corporation, Elekta AB, F. Hoffmann LA Roche AG (Flatiron Health, Inc.), Siemens AG (Siemens Healthnieers), Koninklijke Philips N.V., McKesson Corporation, and Nasdaq Inc. (RaySearch Laboratories AB).

Key Benefits for Stakeholders

The study provides an in-depth analysis of the oncology information systems market, current trends, and future estimations to elucidate the imminent investment pockets.

It presents a quantitative analysis of the market from 2021 to 2030 to enable stakeholders to capitalize on the prevailing oncology information systems market opportunities.

Extensive analysis of the market based on procedures and services assists to understand the trends in the industry.

Key players and their strategies are thoroughly analyzed to understand the competitive outlook of the oncology information systems market.

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