Cancer Registry Software Market Outlook Including Regional Trends and Strategic Collaborations

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Cancer Registry Software Market- (By Software Type (Standalone Software, Integrated Software), By Database (Public data, Commercial data), By Deployment Model (Cloud-based, On-premises), By Functionality (Cancer reporting to meet federal regulations, Patient care management, Product outcome evaluation, Medical research and clinical studies), By End-User (Government organisation and third-party administrator, Hospitals and medical practices, Research centres, Pharmaceutical, Biotechnology companies & medical device companies, Private players, Research centres)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."

According to the latest research by InsightAce Analytic, the Global Cancer Registry Software Market is valued at US$ 76.07 Mn in 2022, and it is expected to reach US$ 181.84 Mn by 2031, with a CAGR of 10.3% during a forecast period of 2023-2031.

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Cancer registries are essential for supporting clinical research and enhancing patient care. Countries typically rely on both population-based and hospital-based cancer registries to monitor and manage cancer cases. Population-based registries, often established by government agencies, aim to achieve critical objectives, including early cancer detection, monitoring cancer trends, developing prevention strategies, and analyzing treatment patterns and patient prognoses. These registries offer a cost-effective method for assessing the effectiveness of cancer prevention programs, ultimately helping to reduce the cancer burden in various regions. The global demand for effective cancer control measures has significantly contributed to the increasing number of cancer registries.

The market is expected to grow driven by several factors, such as the rising incidence of cancer, improvements in healthcare quality, efforts to reduce healthcare costs, and strategic actions by key market participants, including new product and service launches, mergers, and acquisitions. The introduction of efficient, cost-effective digital solutions is improving infrastructure while reducing operational costs, further supporting market expansion. However, concerns related to the security and privacy of patient data may act as a restraint on market growth. Moreover, the relatively limited adoption of advanced software solutions by certain healthcare institutions may pose challenges to the sector's development.

Both government and private cancer registries are increasingly investing in the advancement of sophisticated registry software and enhancing data quality. Research institutions and pharmaceutical companies are also leveraging cancer registries as valuable resources for follow-up data in Phase III and IV clinical trials. Improved clinical research and healthcare evaluation are expected to mitigate the overall cancer burden, thereby accelerating the growth of the market throughout the forecast period.

List of Prominent Players in the Cancer Registry Software Market:
• Elekta (Sweden),
• Electronic Registry Systems, Inc. (US),
• Onco, Inc. (US),
• C/NET Solutions (US),
• Rocky Mountain Cancer Data Systems (US),
• McKesson Corporation (US)

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Market Dynamics:
Drivers:
The cancer registry software market is witnessing robust growth, primarily driven by the ongoing efforts to improve healthcare infrastructure and reduce healthcare service delivery costs. The market is further supported by various government initiatives aimed at decreasing cancer incidence, coupled with the widespread adoption of cancer registry software. The increasing prevalence of cancer, one of the most prevalent chronic diseases and a leading cause of death globally, is a key driver of market expansion. Factors contributing to the rise in cancer cases include dietary changes, environmental influences such as pollution and tobacco use, and genetic predispositions. These factors have significantly contributed to cancer becoming the second leading cause of death worldwide.

Challenges:
A significant challenge hindering the growth of the global cancer registry software market is the lack of interoperability between different systems. Cancer registries are vital for improving patient care by providing accurate, accessible data on patients, treatments, and clinical outcomes. However, the use of multiple electronic health record (EHR) systems across hospitals and cancer centers often leads to inefficiencies in clinical workflows. The inability to seamlessly integrate cancer registries with EHR systems, thereby limiting the extraction of data, presents a substantial barrier to the broader adoption of registry software. This interoperability challenge is expected to restrict market growth during the forecast period.

Regional Trends:
The North American cancer registry software market is projected to capture a significant share, driven by new product innovations and the rising incidence of chronic diseases, particularly cancer. The increasing adoption of cancer registries is expected to further fuel market growth. Many cancer registries have standardized on Registry Plus products due to their ability to support compliance with the National Program of Cancer Registries (NPCR) electronic data-sharing requirements while improving operational efficiency. The high adoption rate of these systems is likely to propel market expansion in the near future.

Similarly, the Asia-Pacific region is anticipated to hold a considerable market share due to factors such as a growing population, rapid urbanization, and industrialization. Additionally, ongoing research and development (R&D) initiatives by leading industry players are expected to drive further market growth in this region.

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Recent Developments:
• In Sept 2022, Nursenav Inc. and Electronic Registry Systems (ERS) Inc. collaborated to connect their two most prominent software products, CRStar and CONNECT. In order to complement the services offered by oncology navigation, this integration made use of cancer registry workflows and data collecting.
• In December 2020, McKesson started Ontada, an oncology technology and insights business that aims to help improve cancer research and care. Ontada was in a unique situation to improve cancer care by allowing deep collaboration between life sciences companies and oncology providers.

Segmentation of Cancer Registry Software Market-
By Software Type
• Standalone Software
• Integrated Software
By Database
• Public data
• Commercial data
By Deployment Model
• Cloud-based
• On-premises
By Functionality
• Cancer reporting to meet federal regulations.
• Patient care management
• Product outcome evaluation
• Medical research and clinical studies
By End-User-
• Government organization and third-party administrator
• Hospitals and medical practices
• Research centers
• Pharmaceutical, Biotechnology companies & medical device companies
• Private players
• Research centers
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.

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This release was published on openPR.