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Oncology Informatics Market Segmentation and Regional Performance with Focus on Pharmaceutical and Research Sectors
Oncology Informatics Market
According to the latest research by InsightAce Analytic, the global Oncology Informatics market is valued at 6.06 Billion in 2022, and it is expected to reach 11.81 Billion by the year 2031, with a CAGR of 7.9% during a forecast period of 2023-2031.
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Oncology, the medical discipline focused on the prevention, diagnosis, and treatment of cancer, encompasses three primary subspecialties: medical, surgical, and radiation oncology. A critical and emerging area within this field is oncology informatics, which integrates information technology, computer science, and healthcare to enhance cancer care. This discipline leverages tools such as computers, clinical guidelines, and information and communication systems to efficiently collect, manage, and utilize comprehensive cancer-related data.
Key factors propelling the global oncology informatics market include the escalating costs associated with cancer treatment, a growing patient population, and increased adoption of oncology-specific electronic health records (EHRs). Inefficient data integration can lead to resource wastage, clinical workflow errors, overtreatment, patient harm, and elevated costs. Consequently, efforts to reduce hospital readmission rates and minimize medical errors further stimulate market growth. Nevertheless, the oncology informatics market may face challenges during the forecast period due to a shortage of medical oncologists, high implementation costs, system incompatibilities, and concerns regarding data security. Although the widespread adoption of oncology informatics has been gradual, promising growth opportunities in emerging markets have driven increased technology uptake.
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North America is expected to dominate the oncology informatics market throughout the forecast period, driven by lifestyle changes, rising cancer incidence, and technological advancements such as CRISPR-based cancer therapies. Market growth is further supported by government initiatives aimed at advancing cancer treatments and efforts to reduce healthcare costs and readmission rates. Similarly, the Asia Pacific oncology informatics market is projected to experience significant expansion, with China's rapidly growing research sector playing a pivotal role. Increased research activities focused on developing precision medicine, alongside rising government funding and pharmaceutical research and development in emerging economies, are key factors fueling market growth in the region.
Major market players operating in the Oncology Informatics market include Cerner Corporation, Change Healthcare, Elekta AB, F. Hoffmann-La Roche Ltd, Hologic, Inc., IBM Corporation, Inspirata, Inc., Koninklijke Philips N.V., Laboratory Corporation of America Holdings, McKesson Corporation, MIM Software, Inc., Oncology Analytics, Inc, PerkinElmer, Inc., RELX Group, Sirenas, LLC, UnitedHealth Group, Inc, Varian, Medical Systems, Inc, and other Prominent Players.
Recent collaborations and agreements in the market:
• In October 2020, cancer informatics and digital service providers A relationship between Inspirata and Smart Reporting, a developer of structured medical reporting software, was recently announced. The collaboration improves the Dynamyx Digital Pathology software package with template reporting options to increase pathology reporting productivity.
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Market Segments
Global Oncology Informatics Market, by Types, 2022-2030 (Value US$ Mn)
• Electronic Health Records (EHRs)
• Population Health Management (PHM)
• Clinical Decision Support System (CDSS)
• Drug Discovery and Development Informatics
• Image Analytics
Global Oncology Informatics Market, by End-Users, 2022-2030 (Value US$ Mn)
• Pharmaceutical Industry
• Life Science Industry
• Contract Research Organizations (CROs)
• Academic Institutes and Research Centers
• Others (Hospitals and Other Care Facilities)
Global Oncology Informatics Market, by Region, 2022-2030 (Value US$ Mn)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
North America Oncology Informatics Market, by Country, 2022-2030 (Value US$ Mn)
• U.S.
• Canada
Europe Oncology Informatics Market, by Country, 2022-2030 (Value US$ Mn)
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe
Asia Pacific Oncology Informatics Market, by Country, 2022-2030 (Value US$ Mn)
• India
• China
• Japan
• South Korea
• Australia & New Zealand
Latin America Oncology Informatics Market, by Country, 2022-2030 (Value US$ Mn)
• Brazil
• Mexico
• Rest of Latin America
Middle East & Africa Oncology Informatics Market, by Country, 2022-2030 (Value US$ Mn)
• GCC Countries
• South Africa
• Rest of Middle East & Africa
Why should buy this report:
To receive a comprehensive analysis of the prospects for the global Oncology Informatics market
To receive an industry overview and future trends of the Oncology Informatics market
To analyze the Oncology Informatics market drivers and challenges
To get information on the Oncology Informatics market value (US$Mn) forecast to 2030
Significant investments, mergers & acquisitions in the Oncology Informatics market industry
Read Overview Report- https://www.insightaceanalytic.com/report/global-oncology-informatics-market/1032
About Us:
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.
Contact us:
InsightAce Analytic Pvt. Ltd.
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info@insightaceanalytic.com
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