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2022

Oncology Information Systems Market

Oncology Information Systems Market Size, Share, Competitive Landscape and Trend Analysis Report, by Product & Services, Application and End User : Global Opportunity Analysis and Industry Forecast, 2021-2030

LS : Healthcare IT

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Author's: Shraddha Mali| Madhuvanti Divekar | Roshan Deshmukh
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Oncology Information Systems Market Statistics 2030

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.  Oncology information system (OIS) is a comprehensive information and image management solution that facilitates in the management and optimization of cancer patient profiles & treatment. Patient portfolios are managed by software known as OIS in healthcare settings such as clinics, hospitals, and research laboratories. 

Furthermore, this software is used to predict treatment outcomes, plan treatment, and exchange cancer patient information across healthcare organizations. These benefits improve the safety and efficacy of cancer treatment for patients. OIS assists physicians and surgeons in selecting the most appropriate therapy to improve the survival rates  of cancer patients.

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The growth of the oncology information systems market is majorly driven due to increase in prevalence of cancer cases and plethora of treatment patterns that have enforced healthcare givers to adopt a comprehensive data management system for maintaining large data sets, including patient records and treatment practices. These data management systems or OIS are designed for proper documentation of patient record, maintenance of patient treatment patterns, maintenance of electronic health record (EHR)/electronic medical record (EMR), and treatment prediction. These features offer scope for automation, accessing, and maintaining patient records through a single interface and workflow. Hence, rise in cancer prevalence is anticipated to augment the growth of the OIS market during the forecast period.

In addition, availability of various OIS with improved features drives the market growth. OIS has gradually replaced manual and paper medical records, owing to digitalization. These systems are designed to conveniently manage patient treatment plans, treatment schedules, treatment delivery, treatment summaries, and test results. The inbuilt software in these systems simplifies and streamlines the workflow, which aids in providing quality care for patients. OIS provides complete and precise information about personal & medical histories, clinical diagnoses, actual & planned treatment regimens, and post-treatment outcomes. These systems monitor various modalities of oncology care for patients.

However, high costs associated with the systems and dearth of trained workforce for handling healthcare management and information technology systems are expected to restrain the growth of the market. Conversely, development of plethora of products, various strategies among the key players, and increase in use of artificial intelligence are expected to provide great opportunity for the key players to invest.

What is the Impact of COVID-19 Pandemic on the Oncology Information Systems Market?

In addition, the COVID-19 outbreak is anticipated to have a negative impact on the oncology information systems market. A huge number of clinics and hospitals across the globe were restructured to increase the hospital capacity for patients diagnosed with COVID-19. Nonessential procedures took a potential backlog due to rapid rise in COVID-19 cases. The lockdown led to disruption of manufacturing and transportation of healthcare essentials. The demand for OIS solutions declined during the pandemic, owing to shut down of many hospitals and oncology clinics. However, increase in vaccination rate is expected to stabilize the market.

Oncology Information Systems Market Segmentation

The OIS market is segmented into product & services, application, end user, and region. Based on product & service, it is bifurcated into software and services. 

The software segment is further divided into patient information systems and treatment planning systems, while the services segment is segmented into consulting/optimization services, implementation services, and maintenance services. By application, it is fragmented into radiation, medical, and surgical oncology. On the basis of end user, it is classified into hospitals & oncology clinics and research centers.

Region wise, the oncology information systems market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, and rest of Europe), Asia-Pacific (Japan, China, India, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Turkey, Saudi Arabia, and rest of LAMEA).

Segment Review

Depending on product & services, the services segment dominated the market in 2020, and is expected to remain dominant during the forecast period, owing to increase in utilization of wide range of services and personalization of treatments offered.

Oncology Information Systems Market
By Product And Services
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Services holds a dominant position in 2020 and would continue to maintain the lead over the forecast period.

As per application, the medical oncology segment dominated the market in 2020, and is expected to remain dominant during the forecast period as the OIS software manages, interprets, analyses, and stores the information of patient efficiently. In addition, as the software assists to predict the treatment outcome for patients, which, in turn, helps to improve the survival rate of the patient.

On the basis of end user, the hospitals & oncology clinics segment dominated the oncology information systems market in 2020, and is expected to remain dominant during the forecast period, owing to increase in number of cancer cases and patients visits to the hospitals as well as the clinic.

Oncology Information Systems Market
By End User
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Research centers segment is projected as one of the most lucrative segment.

Region wise, North America has the major share in the global oncology information systems market in 2020, and is anticipated to remain dominant during the forecast period. This is attributed to prevalence of cancer, adoption of technologically advanced products, and rise in healthcare expenditure. However, Asia-Pacific is anticipated to witness notable growth, owing to rise in disposable income, increase in government initiatives to modernize healthcare infrastructure, and rise in healthcare expenditure. Moreover, India and China are expected to grow at high CAGR in Asia-Pacific OIS market.

Oncology Information Systems Market
By Region
2030
North America 
Europe
Asia-Pacific
LAMEA

Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 7.4% during the forecast period.

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.

Oncology Information Systems Market Report Highlights

Aspects Details
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By PRODUCT AND SERVICES
  • Software
    • Patient Information Systems
    • Treatment Planning Systems
  • Services
    • Consulting Services
    • Implementation Services
    • Maintenance Services
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By APPLICATION
  • Radiation Oncology
  • Medical Oncology
  • Surgical Oncology
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By END USER
  • Hospitals & Oncology Clinics
  • Research Centers
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By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (UK, Germany, France, Italy, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, Australia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, South Africa, Turkey, Saudi Arabia, Rest of LAMEA)
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Key Market Players

Koninklijke Philips N.V., Accuray Incorporated, McKesson Corporation, Nasdaq Inc. (RaySearch Laboratories AB), BMSI Partners Inc., (Bogardus Medical Systems, Inc.), F. Hoffmann LA Roche AG (Flatiron Health, Inc.), Cerner Corporation, Elekta AB, CureMD Corporation, Siemens AG (Siemens Healthnieers)

Analyst Review

According to opinions of various top-level CXOs of leading companies, oncology information system (OIS) is gaining popularity, as tis software enables management of patient profiles and plan their treatment efficiently. OIS is used to manage and treat patients suffering from cancer and help improve their survival rate. Moreover, improvements in artificial intelligence (AI) and computational capabilities, owing to advancements in technology, are expected to enhance the predictability of these systems, thus improving treatment outcomes of patients. These advancements are further anticipated to present growth opportunities and help increase the adoption rate of these software.

Rise in number of cancer cases has led to increase in number of therapies to treat cancer, giving rise to the need for software that will help in organizing, planning, and managing the data efficiently of patients undergoing multiple therapies. OIS serves this purpose by predicting the best approach for cancer treatment and efficiently manages the patient portfolio. Increase in number of healthcare professionals opting for these systems to choose appropriate cancer therapy further boosts the market growth. Moreover, the treatment can be personalized by use of these systems as per the requirement of the cancer patient. As OIS aid in predicting the treatment outcome of cancer patients that may help to improve the patient survival rate and reduce the cost of treatment.

North America is expected to witness highest growth, in terms of revenue during ,the forecast period, owing to rise in cancer cases, increase in adoption of advanced technology in this region, and advancements in healthcare investments. However, Asia-Pacific is expected to grow significantly due to increase in disposable income, increase in government initiatives to modernize healthcare infrastructure, and rise in healthcare expenditure.

Author Name(s) : Shraddha Mali| Madhuvanti Divekar | Roshan Deshmukh
Frequently Asked Questions?

The total market value of oncology information systems market is $3,082.3 million in 2020.

The market value of oncology information systems market in 2021 is $3,274.33 million.

The forecast period for oncology information systems market is 2021 to 2030

The base year is 2020 in oncology information systems market

Top companies 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), held a high market position in 2020.

Services segment dominated the global market in 2020, and expected to continue this trend throughout the forecast period due to increase in prevalence of cancer and surge in demand for consulting & implementation services for cancer is expected to drive the segment.

Increase in prevalence of cancer and various treatment patterns that have enforced healthcare givers to adopt a comprehensive data management system is anticipated to drive the market in the forecast period.

North America is projected to account for a major share of the global oncology information systems market during the forecast period. U.S. dominated the North America oncology information systems market owing to rise in prevalence of cancer, increase in disposable income and adoption of technologically advanced system for better patient outcome across the country.

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Oncology Information Systems Market

Global Opportunity Analysis and Industry Forecast, 2021-2030