The global oncology information system market is growing at a significant CAGR during the forecast period. Oncology information system is used to manage and optimize the profiles and treatment of cancer patients. It is a comprehensive information solution which facilitates all the required oncology care for patients such as evaluate diagnosis-specific data, develop disease-specific clinical protocols, monitor radiation dose, review treatment related images, make informed decisions with the aid of embedded rule-based decision support and so on.
The rise in the prevalence of cancer is one of the major factors aiding in the growth of the oncology information systems market. According to WHO, in 2016, Cancer has caused around 700,000 million fatalities across North America. Breast cancer accounted for most cases of cancer with around 262,000 with a share of 11%. It is followed by lung, prostate, colorectum and bladder cancer in both, males and females, combined. Further, there are several benefits of oncology information systems that enhance the overall treatment of a patient which are substantially propelling the market growth.
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Moreover, technological advancement in healthcare industry is expected to drive the market in near future. With the advent of artificial intelligence, there is a strong possibility of it being used in oncology information systems to increase their efficiency and enhance performance and hence, will assist in market growth in the near future. However, high cost associated with these systems and lack of skilled healthcare IT professionals is expected to hamper the growth of the market. Moreover, software oncology information system can perform some of the most essential functions such as monitoring activities, clinical regimes, comprehensive patient management and pharmacy information.
The key players dominating the global oncology information system market include Koninklijke Philips N.V., Accuray, Inc., McKesson Corp., Flatiron Health, Inc., Epic Systems Corp., Cerner Corp., RaySearch Laboratories, Elekta AB, CureMD Corp., and Verian Medical Systems, Inc. These players adopt various strategies such as mergers & acquisitions, products, and services offering expansion, geographical expansion, and partnership & collaboration to stay competitive in the market. For Instance, in August 2019, Koninklijke Philips completed the acquisition of Carestream Health Inc. that is engaged in development of Healthcare Information System. With this acquisition, the company took over the business and customers of Carestream and will assist the company in expansion and innovation of existing operations and products.
Global Oncology Information System Market -Segment
By Oncology Type
By End-user
Global Oncology Information System Market – Region
North America
Europe
Asia-Pacific
Rest of the World