Global Oncology Information Systems Market Opportunity Analysis and Industry Forecast Report 2021-2030 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Oncology Information Systems Market by Product & Services, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.

The global oncology information systems market 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 data and image management solution that aids in the management and optimization of cancer patient profiles and treatment. In healthcare settings such as clinics, hospitals, and research laboratories, patient portfolios are managed by software known as OIS. OIS allows the management of patient profiles by combining surgical, radiation, and medical oncology information in one system .

Furthermore, these systems aid in the manage & schedule treatment plans of cancer patients and the prediction of treatment outcomes. These systems improve the safety and efficiency of cancer treatment, owing to their ability to predict treatment outcomes.

The major factor driving the growth of the OIS market is the increase in prevalence of cancer cases globally. Surge in cancer incidence and plethora of treatment patterns have compelled healthcare providers to implement a comprehensive data management system for maintaining large data sets, such as patient records and treatment practices.

These data management systems, also known as OIS, are intended for proper patient record documentation, patient treatment, pattern maintenance, electronic health record (EHR)/electronic medical record (EMR) maintenance, and treatment prediction.

For instance, in December 2021, RaySearch Laboratories AB announced the release of a new version of RayCare, a next-generation OIS. The ability for users to configure their own workflows and documents is important new feature of RayCare 5B. RayCare 5B provides full user configurability of all workflow configuration settings, including the ability to create advanced workflow automation from the administrator's workspace. Thus, launch of such products with wide range of functionalities contributes to the growth of the market.

In addition, OIS provides complete and precise information on personal & medical histories, clinical diagnoses, actual & planned treatment regimens, and post-treatment outcomes. These systems monitor various modalities of oncology care for patients. Electronic record maintenance is of prime importance, due to negligible possibility of discrepancies or errors resulting due to manual intervention.

Furthermore, paper-based medical record systems are known to have major issues due to incomplete data, poor accessibility, inaccuracy, and challenges to patient confidentiality.

These are incompetent tools for record-sharing of interdisciplinary patient assessment & management and quality control monitoring to ensure improvement. Hence, the need to gradually switch from paper-based records to electronic records in healthcare management is anticipated to boost the OIS market growth.

However, high costs associated with the OIS systems and dearth of trained workforce for handling such healthcare management and information technology systems are the factors expected to restrain the market growth. Conversely, various strategies among the key players such as partnerships, product launch, collaborations, acquisitions, and increase in use of artificial intelligence are expected to provide lucrative opportunities for the key players to invest in the OIS market.

Moreover, the incorporation of artificial intelligence (AI) in OIS is anticipated to revolutionize cancer treatment and follow-up procedures. The use of AI algorithms with OIS is expected to change the course of cancer treatment with more predefined and thorough analyses, which would benefit patients through a more focused prognosis, contributing toward the market growth.

Furthermore, presence of a plethora of products in the pipeline and high market potential in untapped emerging economies are anticipated to serve as attractive opportunities for market growth during the forecast period. Surge in cancer cases along with rise in cancer awareness by the government and private organizations has opened up new avenues for the cancer treatment.

KEY FINDINGS

• By product & services, services segment was the highest contributor to the market in 2020
• As per application, medical oncology segment was the highest contributor to the market in 2020
• According to end user, hospitals & oncology clinics segment was the highest contributor to the market in 2020
• Region wise, North America garnered the largest revenue share in 2020, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period

KEY MARKET PLAYERS

• 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 NV
• McKesson Corporation
• Nasdaq Inc (RaySearch Laboratories AB)

KEY MARKET SEGMENTS

By Product & Services

• Software
• Patient Information Systems
• Treatment Planning Systems
• Services
• Consulting Services
• Implementation Services
• Maintenance Services

By Application

• Radiation Oncology
• Medical Oncology
• Surgical Oncology

By End User

• Hospitals & Oncology Clinics
• Research Centers

By Region

• North America
• US
• 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

For more information about this report visit https://www.researchandmarkets.com/r/88yub3