Chicago, June 28, 2023 (GLOBE NEWSWIRE) -- The oncology information system industry is poised for significant advancements and transformative changes in the near future. With the rapid integration of technology and the increasing demand for personalized cancer care, oncology information systems are expected to play a pivotal role in streamlining workflows, enhancing data management, and optimizing treatment outcomes. Innovations such as artificial intelligence, machine learning, and big data analytics will enable oncologists to make more accurate diagnoses, develop tailored treatment plans, and monitor patient progress in real-time. The integration of genomics data and molecular profiling will further enable precision medicine approaches, leading to improved patient outcomes and reduced healthcare costs. Additionally, advancements in telemedicine and remote patient monitoring will enhance accessibility to specialized oncology care, particularly in underserved areas. As the oncology information system industry continues to evolve, collaboration among healthcare providers, technology developers, and regulatory bodies will be crucial to ensure the seamless implementation and interoperability of these systems, ultimately driving advancements in cancer care on a global scale.
Oncology Information System market in terms of revenue was estimated to be worth $7.7 billion in 2022 and is poised to reach $11.1 billion by 2027, growing at a CAGR of 7.6% from 2022 to 2027 according to a latest report published by MarketsandMarkets™. The growth of this market is primarily driven by factors such as increasing need to curtail oncology care cost, growing adoption of electronic health records (EHR) and other oncology healthcare IT solutions to improve care quality, increasing incidence and prevalence of cancer, favorable government mandates and support for oncology information systems, potential benefits of and technological advancements in oncology information systems. Growing healthcare IT industry and integration of EMR with treatment planning systems indicates strong growth opportunities. On the other hand, the dearth of skilled IT professionals in the healthcare industry and interoperability issues are major factors expected to restrain the market growth. Concerns regarding data privacy is major market challenges.
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Oncology Information System Market Scope:
| Report Coverage | Details |
| Market Revenue in 2022 | $7.7 billion |
| Estimated Value by 2027 | $11.1 billion |
| Growth Rate | Poised to grow at a CAGR of 7.6% |
| Market Size Available for | 2020–2027 |
| Forecast Period | 2022–2027 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product and services, application, end user and Region |
| Geographies Covered | North America, Europe, APAC, Latin America and Middle East and Africa |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunities | Growing healthcare IT Industry |
| Key Market Drivers | North America, Europe, APAC, Latin America and Middle East and Africa |
Oncology Information System market major players covered in the report, such as:
- Koninklijke Philips N.V. (Netherlands)
- McKesson Corporation (US)
- Siemens Healthineers (Germany)
- Elekta AB (Sweden)
- Epic Systems Corporation (US)
- IBM (US)
- Cerner Corporation (US)
- Advanced Data Systems (US)
- Bogardus Medical Systems Inc (US)
- F. Hoffmann-La Roche AG (Switzerland)
- Altai Oncology LLC. (US)
- GE Healthcare (US)
- Accuray Incorporated (US)
- OPTUM (a part of UnitedHealth Group) (US)
- Allscripts Healthcare Solutions Inc. (US)
- MICA Information Systems Inc. (US)
- CureMD Healthcare (US)
- EndoSoft LLC (US)
- MIM Software Inc. (US)
- RaySearch Laboratories AB (Sweden)
- and Among Others
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This report categorizes the oncology information system market into the following segments and subsegments:
By Product and Service, the oncology information system market is segmented as follows:
- Software
- Patient Information Systems
- Radiology Information systems
- Oncology Electronic Medical Record (EHR)
- Laboratory Information Systems
- Chemotherapy Information System
- Treatment Planning Systems
- Clinical Decision Support Systems
- Radiotherapy Treatment Planning Systems
- Brachytherapy Treatment Planning Systems
- Treatment Management Systems & Medical Image Analysis Systems
- Population Health Management
- Clinical Integration Solutions
- Picture archiving and communication System (PACS) & VNA
- Advanced Visulaization & Image Analysis Solutions
- Radiation Dose Management Solutions
- Professional Services
- Consulting/Optimization Services
- Implementation Services
- Post-Sale and Maintenance Services
By Application, the oncology information system market is segmented as follows:
- Radiation Oncology
- Medical Oncology
- Surgical Oncology
By End User, the oncology information system market is segmented as follows:
- Hospitals & Diagnostic Imaging Centers
- Ablation Care Centers and Cancer Care Centers
- Government Institutions
- Research Facilities
By Region, the oncology information system market is segmented as follows:
- North America
- US
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- ROE
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- RoPAC
- Latin America
- Brazil
- Mexico
- Middle East & Africa
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The key stakeholders in the Oncology Information System market include:
- Healthcare providers and institutions: Hospitals, cancer centers, and clinics rely on oncology information systems to manage patient data, treatment plans, and outcomes.
- Technology vendors and developers: These stakeholders create and provide software and hardware solutions for oncology information systems.
- Pharmaceutical companies and research organizations: They utilize these systems for clinical trials, drug development, and precision medicine initiatives.
- Regulatory bodies and government agencies: They oversee compliance, safety, and privacy aspects of oncology information systems.
- Health insurance companies and payers: They have an interest in accurate billing and reimbursement processes facilitated by these systems.
- Patients: Benefiting from improved cancer care and access to personalized treatment options, patients are essential stakeholders.
- Professional organizations and associations: They play a role in shaping standards, guidelines, and best practices related to oncology information systems.
Frequently Asked Questions (FAQs) of Oncology Information System Market:
Q1. What is the total market value of Oncology Information System Market report?
Q2. Which are the top companies holding the market share in Oncology Information System Market?
Q3. Which are the largest regions for this Market?
Q4. What is the leading technology of Oncology Information System Market?
Q5. What are the major drivers for this specific Market?
Q6. What are the upcoming key trends in the Oncology Information System Market report?
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Recent Developments:
- In August 2021, Siemens Healthineers (Germany) completed acquisition of Varian Medical system (UK). this acquisition aimed at creation of a unique, highly integrated portfolio of oncology information system workflow.
- In June 2021, Koninklijke Philips N.V. (The Netherlands) partnered with Elekta (Sweden) for development of advanced, comprehensive and personalized cancer care through precision oncology information solutions.
- In December 2020, McKesson Corporation (US) has launched McKesson Corporation has launched Ontada, an oncology technology and insights business dedicated to help advance cancer research and care.
Reasons to Buy the Report:
The report will help market leaders/new entrants in this market and provide information regarding the closest approximations of the revenue numbers for the overall oncology information system market and its subsegments. This report will help stakeholders to understand the competitive landscape, to gain more insights to better position their businesses, and to plan suitable go-to-market strategies. The report will also help the stakeholders to understand the pulse of the market and provide information on key market drivers, restraints, opportunities, and challenges.
This report provides insights on:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the oncology information system market. The report analyzes this market by product and services, application, end user and region.
- Market Development: Comprehensive information on the lucrative emerging markets, by product and services, application, end user and region.
- Market Diversification: Exhaustive information about the product portfolios, growing geographies, recent developments, and investments in the oncology information system market.
- Competitive Assessment: In-depth assessment of market shares, growth strategies, product offerings, and capabilities of the leading players in the oncology information system market.
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