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.
Here, Software is anticipated to dominate the Global Oncology Information Systems Market with the largest share in the coming years. This dominance attributes to the extensively rising cases of cancer worldwide, propelling the need for constant monitoring & tests and driving the demand for Oncology Information Software to act as an interface between the medical database & patient/treatment providers.
Besides, with digital storage & handling of medical data, this software is becoming indispensable for the healthcare industry and are even categorized as Patient Information Systems Software & Treatment Planning Systems Software.
Between these fragmentations, the Patient Information Systems account for a larger share in the market, backed by their capability to facilitate the storage of patients' clinical information based on various examinations & tests. These processed & manipulated data may be required by the doctors & other hospital staff to offer the appropriate medical care to cancer patients.
Among all, Radiation Oncology is anticipated to acquire the largest share of the Global Oncology Information System Market during the forecast period. It owes principally to the unique characteristic of this oncology to target the tumor cell directly without affecting the vital cells around.
Besides, since radiation therapy has relatively minimal side effects for other applications like surgical & medical oncology, in the procedure, the utilization of Oncology information systems is gaining swift momentum for such applications in the industry through 2027.
Moreover, to catalyze the overall treatment planning and speed up the dose calculation speed, the Oncology Information System with radiotherapy is required and is popularly witnessing swift adoption globally and contributing to the overall market expansion in the future.
Geographically, the Global Oncology Information Systems Market expands across:
Here, North America acquired the largest market share in recent years and is anticipated to prevail in the same dominance during the forecast period. It owes principally to the massive investments by the governments of different countries in the region in the healthcare sector, including the oncology department, and conducting numerous research & development activities to bring innovations in the diagnosis, treatment, and care of cancer patients.
Besides, since the region has the most significant number of cancer patients, the adoption of Oncology information systems is elevating rapidly and generating growth opportunities for the leading players to increase their offerings and cater to the burgeoning requirements. Furthermore, exhibiting large-scale investment to develop patient-oriented oncology systems, the region is all set to have an advanced healthcare infrastructure in the future and hints toward a lucrative outlook for the market.
The rising prevalence of cancers globally is a prominent aspect contributing to the expansion of the Oncology Information System Market & generating lucrative growth opportunities for the leading players to increase their service offering through these solutions. Such participation is principal to assist the healthcare professionals and enable them to make informed choices while dealing with cancer patients. Moreover, the governments of different countries are encouraging Public-Private partnerships in the healthcare industry with a keenness to assist the exponential patient pool in every possible way and minimize the severity.
Key Questions Answered in the Global Oncology Information Systems Market Research Report:
Frequently Asked Questions
A. The Global Oncology Information Systems Market is projected to grow at a CAGR of around 11% during 2022-27.
A. Hassle-free handling and AI solutions in keeping a track of the medical records for better treatment & care using these systems are driving the demand & popularity of Oncology Information Systems and contributing to the market expansion through 2027.
A. Software is anticipated to emerge as an area of remunerative opportunities for the leading players in the Global Oncology Information Systems Market during the forecast period.