Global Cancer Informatics Market Research Report: Forecast (2021-2026)

Market Overview

Cancer Informatics is a comprehensive information solution that explores the crucial technologies, informatics trends of applying computational biology to cancer research and care. In Cancer Informatics, computer & information science and healthcare interconnect to acquire, store and use information regarding cancer thoroughly & efficiently.

According to the MarkNtel Advisors' research report, "Global Cancer Informatics Market Analysis, 2021," the market is likely to grow at a CAGR of around 7.5% during 2021-26. The growth of the cancer informatics market attributes to the rising prevalence of cancer, surging costs of cancer treatment, and mounting focus on reducing medical errors & readmission rates. However, the high costs involved while installing these solutions are amongst the most prominent challenges for the market.  

Impact of COVID-19

The outbreak of the COVID-19 pandemic has adversely affected cancer patients as most cancer patients are of older age and immunosuppressed. Additionally, lockdown imposition, social distancing measures, and the need for isolation in the pandemic-frenzied world have been convenient factors for delayed follow-up and postponement in routine screening procedures. However, the market players are focused on developing cloud and AI-based technologies to control the impact of the COVID-19 pandemic on the cancer informatics market.

Medical Application Accounted for the Largest Market Share

Based on the Application, the market classifies into medical, surgical, and radiation applications. The Medical application acquired the largest share in the global cancer informatics market in the previous year. The growth attributes to the rising usage of immunotherapy & chemotherapy and snowballing cancer informatics to manage & analyze patient information and predict treatment, thereby improving survival rates and presenting growth opportunities for the market, reveals MarkNtel Advisors in their research report, "Global Cancer Informatics Market Analysis, 2021."

Electronic Health Records (EHRs) Dominated the Market

Electronic Health Records accounted for the largest market share in the global cancer informatics market in the previous few years. Electronic Health Records are electronic versions of a patient’s medical history consisting of their relevant clinical data under a particular provider. With the help of EHR, the medical record-keeping procedure becomes more centralized and easily accessible.

Additionally, EHR offers numerous other benefits, such as enhanced quality of patient care, reduced health care costs, and an easy transfer of a patient’s information among providers, thereby contributing to the growth of the cancer informatics market in the forecast period.

Regional Landscape

North America Grabbed the Largest Market Share

Region-wise, North America held the largest market share in the global cancer informatics market in the previous year due to the rising adoption of advanced technologies in the healthcare sector and mounting investments by pharmaceutical industries. The United States dominates the North American region due to the surging number of cancer patients and massive investments in cancer R&D.

Market Driver

Emerging Technological Advancements Drives the Market Growth

Soaring adoption of advanced technologies in healthcare leads to enhanced diagnostic methods for better treatment and reduced readmission rates. Further, the integrated diagnostic approach helps accurately formulate the way for precision medicine, which would also help provide appropriate treatments and reduce errors in the clinical workflow.

Competitive Landscape

According to MarkNtel Advisors, the major leading players in the global Cancer Informatics market are Elekta ab, Varian Medical Systems, Accuray Incorporated, Cerner Corporation, RaySearch Laboratories, Flatiron, Oncology Analytics, Inc, Hologic Inc., F.Hoffmann-La Roche Ltd., McKesson Corporation, etc.

Key Questions Answered in the Market Research Report:

1. What are the overall market statistics or market estimates (Market Overview, Market Size- By Value, Forecast Numbers, Market Segmentation, Market Shares) of the Global Cancer Informatics Market?
2. What are the region-wise industry size, growth drivers, and challenges?
3. What are the key innovations, opportunities, current & future trends, and regulations in the Global Cancer Informatics Market? 
4. Who are the key competitors, their key strengths & weaknesses, and how do they perform in Global Cancer Informatics Market based on a competitive benchmarking matrix?
5. What are the key results derived from the market surveys conducted during the Global Cancer Informatics Market study?

Market Outlook, Segmentation and Statistics

• Impact of COVID-19 on Global Cancer Informatics Market
• Market Size & Analysis
  • By Revenue
• Market Share & Analysis
  • By Product
    • Electronic Health Records (EHRs)
    • Population Health Management (PHM)
    • Clinical Decision Support System (CDSS)
    • Drug Discovery and Development Informatics (DDDI)
  • By Application
    • Medical Application
    • Surgical Application
    • Radiation Application 
  • By Cancer Type
    • Breast Cancer
    • Prostate Cancer
    • Colorectal Cancer
    • Cervical Cancer
    • Other
  • By End-Users
    • Life Science industry
    • Academic Institutes and Research Centres
    • Pharmaceutical Companies
    • Contract Research Organizations (CROs)
    • Others (Hospitals and Other Care Facilities)
  • By Region
    • North America
    • Latin America
    • Europe
    • Middle East & Africa
    • Asia-Pacific
  • By Competitors
    • Competition Characteristics
    • Market Share & Analysis
    • Competitive Metrix
• Global Cancer Informatics Market Hotspots & Opportunities
• Global Cancer Informatics Market Regulations & Policy
• Key Strategic Imperatives for Success and Growth
• Global Competition Outlook
  • Competition Matrix
  • Company Profile