NEWARK, Del, Feb. 19, 2024 (GLOBE NEWSWIRE) -- Driven by international collaborative research activities, the worldwide cancer registry software market is expected to reach a worth of US$ 87.4 million in 2024. It is anticipated that the trend will open up new market opportunities, resulting in a projected CAGR of 10.4% between 2024 and 2034 and a total worth of US$ 236.0 million by that year.
One of the major factors contributing to the growth of the market is real-world evidence generation. Pharmaceutical companies, regulatory agencies, and healthcare payers increasingly rely on real-world evidence to inform clinical decision-making, drug development, and reimbursement policies. Cancer registry software facilitates the generation of RWE by aggregating and analyzing real-world patient data, supporting comparative effectiveness research, post-market surveillance, and pharmacovigilance activities.
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The integration of artificial intelligence and predictive analytics capabilities enhances the predictive modeling, risk stratification, and treatment planning functionalities of the cancer registry software. AI-driven algorithms can identify patterns, predict outcomes, and personalize treatment recommendations based on individual patient characteristics and disease profiles, driving advancements in precision oncology.
There is a growing recognition of health disparities and inequities in cancer outcomes among different demographic groups and populations. Cancer registry software can facilitate the collection of data related to social determinants of health, enabling healthcare providers and policymakers to identify and address disparities in cancer incidence, treatment access, and outcomes.
The cancer registry software market can support the development and implementation of personalized risk assessment tools and prevention programs. Healthcare providers can tailor prevention strategies, screening protocols, and lifestyle interventions to reduce the risk of cancer development, by analyzing individual and population-level risk factors, genetic predispositions, and environmental exposures.
“Digital health innovations have enabled the generation of patient health data, prompting the deployment of the cancer registry software. This helps ingest, analyze, and integrate cancer surveillance systems, enabling continuous monitoring of patient symptoms in real-time,” opines Sabyasachi Ghosh, Associate Vice President at Future Market Insights (FMI).
Key Takeaways from the Market Study
- The global cancer registry software market was valued at US$ 78.8 million in 2023.
- From 2019 to 2023, the market demand expanded at a CAGR of 11.5%.
- The market in Japan is expected to expand at a CAGR of 11.8% through 2034.
- By deployment model, the on-premise segment to account for a CAGR of 10.3% through 2034.
- The absolute dollar growth of the market is projected to reach a value of US$ 148.6 million during the forecast period.
- The market in the United Kingdom is expected to expand at a CAGR of 11.5% through 2034.
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Competitive Landscape
The competitive landscape of the cancer registry software market is characterized by a diverse array of vendors offering solutions designed to streamline data collection, management, analysis, and reporting for cancer registries worldwide.
Key Developments
- In 2022, Elekta announced that the National Health Service Supply Chain had procured multiple licenses for the ProKnow software solution of Elekta.
- The software centralizes and analyzes radiotherapy data within a secure and scalable platform, granting access to radiation oncology facilities across NHS England nationwide.
Cancer Registry Software Market Size:
| Attribute | Details | ||
| Estimated Market Size in 2024 | US$ 87.4 million | ||
| Projected Market Valuation in 2034 | US$ 236.0 million | ||
| Value-based CAGR 2024 to 2034 | 10.4% | ||
| Forecast Period | 2024 to 2034 | ||
| Historical Data Available for | 2019 to 2023 | ||
| Market Analysis | Value in US$ million | ||
| Key Regions Covered |
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| Key Market Segments Covered |
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Cancer Registry Software Market Segmentation:
Deployment Model:
- On-Premise
- Cloud-Based
Database Type:
- Commercial Database
- Public Database
End User:
- Government and Third Party
- Private Players
- Hospital and Medical Practice
- Others
Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- The Middle East and Africa
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges clients face and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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