Technological advancements in OIS, associated advantages of OIS over conventional record maintenance, integration of oncology information systems for the treatment rare cancer types and surge in prevalence of cancer worldwide are key factors contributing to high CAGR of Oncology Information System market during forecast period.

Market Size – USD 6,687.9 Million in 2020, Market Growth - CAGR of 8.4% Market Trends – Rising incidences of target diseases, Technological advancements in the field of healthcare IT

According to the current analysis of Reports and Data, the global Oncology Information System market was valued at USD 6,687.9 Million in 2020 and is expected to reach USD 11.65 Billion by the year 2028, at a CAGR of 8.4%. Oncology Information System comprises software and services. The software is used to collect the data related to the patient, to predict the treatment method, clinical outcomes associated, and to analyze the success rate of the treatment. In addition to this, it has a collective data for patient management, clinical regimen, monitoring activities, and patient history. Such systems offer advantages including scheduled care and remote access due to digital connectivity compared with traditional record-keeping methods. Moreover, visual data of the tumor is also maintained for medical personnel and doctors to ensure the correct dosage, treatment management plans, and schedules that are appropriate for the patient.

The primary key drivers of the markets include technological advancements and increased incidences of cancer. For instance, according to the American Lung Association, around 234,030 new lung cancers were expected to diagnose. According to the National Cancer Institute, cancer has a significant impact on society in the United States and across the world, owing to the rising demand for Oncology Information System during the forecast period. Moreover, the patients, after getting complete treatment for cancer, also experienced secondary cancers recurring. The growth in demand for an appropriate treatment plan is expected to propel the market. Furthermore, the other factor responsible for fueling the market growth is growing government awareness and initiatives for the pre-diagnostics and efficient treatment for the same. The traction in the investment for the research and development in developed economies such as the U.S, Canada also owes the growth of the market. The recent advancement in the record-keeping aspect is the application of artificial intelligence, wherein the system gives suggestions about the patient’s history and further compares it with the previous therapy to ensure the effectiveness of the treatment. Escalating sponsorship for Healthcare by the government and favorable funding scenario would significantly support the market growth. The challenges, such as lack of skilled IT professionals in the Health Care Systems and the high cost of maintenance of the systems are likely to hamper the market. However, stringent regulation and lack of awareness in emerging economies are expected to impede the market growth.

Key companies profiled in the report include

Varian Medical Systems, Inc., Elekta AB, Altos Solutions, Inc., Cerner Corporation, Koninklijke Philips N.V., McKesson Corporation Accuray Incorporated, Epic Systems Corporation, and CureMD Corporation.

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The report is an investigative study that determines market growth and market scope on the basis of market trends, consumer behavior shifts, consumption and production patterns, product portfolio offered by the market, growth rate, drivers and constraints, financial positions, and existing challenges and limitations of the Oncology Information System market.

The report discusses in detail the global production capacity, demand and supply ratio, market dynamics, and comprehensive analysis of the competitive landscape. It provides an industry-wide analysis of the market share of each players along with their business portfolio, production and manufacturing capacity, product portfolio, business expansion plans, financial standing, and strategic alliances such as mergers and acquisitions, joint ventures, and collaborations, among others.

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The regional bifurcation of the market analyzes key market segments such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The report discusses in detail the market growth, market size, revenue growth, market share, production and consumption, demand and supply, current and emerging trends, and technological developments in each region.

The key geographical regions analyzed in the market report are:

North America (U.S.A., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
AsiaPacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Oncology Information System Market Segmentation based on Types:

Products & Services Outlook (Revenue in Million USD; 2018–2028)

Software
Patient Information System
Treatment Planning System
Professional Services
Maintenance Services
Consulting or Optimization Services
Implementation Services
Oncology Information System Market Segmentation based on Application:

Application Outlook (Revenue in Million USD; 2018–2028)

Radiation Oncology
Surgical Oncology
Medical Oncology
 End Use Outlook (Revenue in Million USD; 2018–2028)

Hospitals
Oncology Clinics
Research Centers
Government Institutions
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Further key findings from the report suggest

According to the American Lung Association, around 234,030 new lung cancers were expected to diagnose. The causes of such a hike in the incidences of lung cancers are the exploitation in the use of tobacco, cigarettes, growing air pollution.
According to the World Health Organization, cancer is stated to be the world’s leading cause of death. One in every six deaths is caused due to cancer. The majority of the deaths are caused due to delay in the diagnosis of the cancers. The increase in the awareness programs by the government would push up the market to a newer heights in the near future.
Artificial Intelligence, which is the recent advancement brought up in the Oncology Information System sector, which promotes the comparison of the previous incidences of the side-effects, contraindications for the patients. Gleason score, the AI system was on par with the international experts to detect and grade prostate cancer on the same level as leading experts. The growing demand for the data management and the options offered by the IT segment for a proper data management and decision making platform, would help the market to escalate in the near future.
According to Novartis, it was estimated that there are more than 200 types of cancer which need unique diagnosis and treatment. Additionally, it is expected that more than 21 million new cases would be diagnosed by 2030. The predictions gave an overall scenario of the increase in the prevalence of the cancer which would increase the shares in the forecast period.
RaySearch and MedLever announced interoperability agreement to give more efficient ways of organizing data for oncology centers. This agreement promotes an ecosystem with fewer data silos and greater degrees of transparency that improve clinician satisfaction and patient care. The mission which was set to achieve the goal to allow better management of the data and allowing this data to be useful for the clinicians is expected to increase the market shares in the coming years.
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