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Oncology Information System Market Segmentation by Product (Software, and Services); by Software (Patient Information System, TPS, RIS, and PACS); and by End User (Hospitals, Cancer Care Centers, Government Institution, and Academia) – Global Demand Analysis & Opportunity Outlook 2030

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Extensive insights into the Growth of Oncology Information System Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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IN THE NEWS

  • June 2021- Elekta and Philips signed an agreement aimed at strengthening their existing partnership to advance personalized cancer care via precision oncology solutions.

  • December 2020- McKesson launched Ontada, which is an oncology technology and insights business designed for supporting innovation, and effective evidence generation to generate better outcomes fr patients with cancer.

Global Oncology Information System Market Highlights 2022 – 2030

The global oncology information system market is estimated to garner a large amount of revenue and grow at a CAGR of ~7% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the rising prevalence of cancer, coupled with increasing geriatric population across the globe. According to the World Cancer Research Fund, in 2018, there were about 18 million cases of cancer globally, out of which 9.5 million cases were in men and 8.5 million in women. Along with these, governments from all around the world are extensively being involved in introducing new regulations and planning reforms that would assist in enterprise-wide adoption of information technologies, especially aimed towards the transformation of healthcare systems. This is a crucial factor expected to offer abundant growth opportunities to the market in the upcoming years. Furthermore, growing number of specific therapies in the oncology pipeline is also projected to boost market growth in the near future.  

Oncology Information System Market GraphThe market is segmented by end user into hospitals, cancer care centers, government institution, and academia, out of which, the hospitals segment is anticipated to hold the largest share in the global oncology information system market. This can be accounted to the large target patient population base preferring hospitals, especially in developing countries, and rising procedural volume in hospital settings. Apart from these, high budget of hospitals for introducing several advanced oncology information systems products is also predicted to bolster the market segment growth in the years to come. Additionally, on the basis of product, the software segment is evaluated to occupy the most significant share by the end of 2030, ascribing to the rising demand for keeping track of patient data and coordinating treatment plans, and surging adoption of web- and cloud-based models in the medical industry. CLICK TO DOWNLOAD SAMPLE REPORT  

Major Macro-Economic Indicators Impacting the Market Growth

Research and Development Expenditure Graph

The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.

Global Oncology Information System Market Regional Synopsis

On the basis of geographical analysis, the global oncology information system market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in Asia Pacific is estimated to witness noteworthy growth over the forecast period on the back of the increasing occurrence of cancer, and rise in government expenditure in the region’s healthcare sector. Moreover, the market in North America is assessed to acquire the largest share during the forecast period, which can be credited to the availability of advanced healthcare infrastructure, and rapidly growing elderly population in the region. As per the Rural Health Information Hub, as of June 2019, 46 million adults aged 65 years and above were living in the United States. By 2050, the number is calculated to reach a value of almost 90 million. In addition, escalating research and development activities for developing patient centric oncology information systems is also predicted to aid the region’s market growth in the coming years.

Oncology Information System Market Share Image

The global oncology information system market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global oncology information system market includes the following segments:

By Product

  • Software
  • Services

By Software

  • Patient Information System
  • TPS
  • RIS
  • PACS

By End User

  • Hospitals
  • Cancer Care Centers
  • Government Institution
  • Academia

Growth Drivers

  • Rising Prevalence of Cancer Globally
  • Government Initiatives Raising the Demand for Oncology Information Systems

Challenges

  • Large Cost of Oncology Information Systems

Top Featured Companies Dominating the Market

  • Koninklijke Philips N.V.
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis 
  • Varian Medical Systems, Inc
  • McKesson Corporation
  • Elekta AB
  • Epic Systems Corporation
  • IBM Corporation
  • Cerner Corporation
  • Allscripts Healthcare Solutions, Inc.
  • MICA Information Systems, Inc.
  • EndoSoft LLC

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