Oncology Information System (OIS) is a software solution that offers integrated care & treatment facilities to cancer patients by handling managerial & clinical activities. This system is known for collecting data associated with various stages of cancer, starting from prevention, screening, diagnosis, image reviews, and treatment to palliative care to support medical information management.
Oncology Information Systems are gaining swift momentum across the healthcare sector owing to their integrated care & long-term treatment by maintaining the patient's medical history, treatment response, medical prescription, and any transactional activities for ongoing billing purposes. These systems are utilized to aggregate information required to deliver better & improved patient care without missing out on any functional aspect of cancer treatment.
The Global Oncology Information Systems Market is projected to grow at a CAGR of around 11% during the forecast period, i.e., 2022-27. The market is driven by the rapidly increasing cases of cancer throughout the world & its anticipated rise in the coming years. Since cancer is a prominent cause of death in people, the demand for effective & reliable solutions for treatment is upsurging and leading to sincere concern towards cancer patients & treatment techniques. It, in turn, is making different technologies arrive at a single platform and aid each other in enhancing efficiency.
Hence, with modern technologies taking over the healthcare industry, Oncology Information systems are gaining swift momentum, backed by their intelligent techniques and becoming a prominent part of the healthcare system. The same aspect is also generating growth opportunities for the leading players to increase their service offerings and deliver these systems with their unique ability to integrate information along the web concerning cancer to maintain patients' medical track records.
|Study Period||Historical Data: 2017-20|
|Base Year: 2021|
|Forecast Period: 2022-27|
|Regions Covered||North America: The US, Canada, Mexico|
|Europe: Germany, UK, France, Italy, Spain, Rest of Europe|
|Asia-Pacific: China, India, Japan, Thailand, South Korea, Rest of Asia-Pacific|
|South America: Brazil, Argentina, Rest of South America|
|Middle East & Africa: Saudi Arabia, South Africa, Rest of Middle East & Africa|
|Key Companies Profiled||
Accuray Inc., BrainLab, Cerner Corp., DOSIsoft S.A., Elekta AB, Flatiron, McKesson Corporation, MIM Software, Philips Healthcare, Prowess, Inc., RaySearch Laboratories, Siemens Medical Solutions, Inc., Varian Medical Systems, ViewRay Inc., and Others
|Unit Denominations||USD Million/Billion|
Besides, the growing need for an early diagnosis for adequate & timely treatment of diseases like cancer and to minimize the disease progress, the need for constant monitoring is upsurging. It, in turn, is augmenting the demand for an oncology information system to offer proper aggregation in terms of data related to scheduling, planning, briefing, and delivery of treatments. In addition, as these systems also mitigate the communication gap between the healthcare & radiation departments, more and more facilities are utilizing these systems and contributing to the market expansion.
Furthermore, with the integration of Artificial Intelligence (AI) into the healthcare industry departments like oncology, manual handling of documentation within the sector has become a talk of the past, where such technologies have made things more hassle-free over paper works. Also, because of the rising demand for software within the end-use facilities by hospitals and pharmaceutical companies, Artificial intelligence-based technologies like OIS are registering immense growth and directly influencing the market expansion.
Impact of Covid-19 on the Global Oncology Information Systems Market
The advent of the Covid-19 pandemic had immense pressure on the healthcare industry and introduced a slightly decelerating effect on the Oncology Information Systems Market in recent years. Back when the governments of different countries imposed stringent movement restrictions & lockdowns to curb the spread of this dreadful disease, the patient pool for Covid-19 had all the attention.
This focus shifts of the healthcare industry to address immediate needs concerning pandemics affected & sidelined the requirement for Oncology information systems temporarily. Considering it non-essential at the moment, the demand for these systems came to a halt as the Covid-19 crisis took over the health sector. In fact, many surgeries or treatments also experienced delays.
Yet, such fluctuations were not prolonged. With the gradual control of the pandemic and upliftment of restrictions by the governments, the demand for Oncology information systems revived steadily and is still on the track of regaining its usual pace in the industry. Additionally, several leading players in the market are actively participating in meeting the demands for these systems across facilities and leading the Oncology Information Systems Market to recover from the loss in the coming years.