The anticipated size of the oncology information systems market in 2022 was USD 2,593.4 million and is estimated to be USD 2,753.8 million in 2023.
According to the Future Market Insights analysis report, the oncology information systems market is anticipated to expand at a CAGR of 7.8% between 2023 and 2033, totaling around USD 5,828 million by 2033. Some of the key factors expected to drive oncology information systems market growth include:
The growing demand for oncology information systems (OIS) software to help streamline patient information and data management has increased the demand for various types of oncology information systems (OIS) software. Furthermore, oncology information systems market companies' increased investments in cancer research are expected to drive oncology information systems market growth along with the oncology information systems market future trends.
Key oncology information systems market players are focusing on launching new campaigns and strategic plans to increase product visibility and brand awareness. A hybrid distribution model based on distribution networks and collaborations with oncology information systems market vendors has aided the oncology information systems market growth as well as the oncology information systems market key trends and opportunities.
The oncology information systems market is expected to grow significantly in the coming years, and companies are increasingly investing in the development of innovative and technologically advanced products positively impacting the oncology information systems market adoption trends.
Key players' investments in OIS development might be a massive oncology information systems market opportunity due to a large influx of funding and budgets for the healthcare sector.
AI in oncology is one of the factors driving the oncology information systems market growth. As systems and software are mostly used by pharmaceutical companies and hospitals, they have a high demand for oncology information systems and in turn surging the sales of demand for oncology information systems in end-use facilities.
Key oncology information systems market players are introducing new products in the same category but with limited innovation. Companies may benefit from research and development investments to develop products with more features.
| Attributes | Details |
|---|---|
| Projected Forecast Value (2022) | USD 2,593.4 million |
| Projected Forecast Value (2023) | USD 2,753.8 million |
| Projected Forecast Value (2033) | USD 5,828 million |
| Growth rate | 7.8% CAGR |
| Forecast period | 2023 to 2033 |
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The global oncology information systems market expanded at a CAGR of 5.1% between 2018 and 2022. Growth forecasts remain optimistic, with the market predicted to exhibit a CAGR of 7.8% between 2023 and 2033.
The market for oncology information systems is also rising as it has seen significant growth in recent years due to the rise in the prevalence of cancer, the need for better patient outcomes, and the rise in demand for cost-effective cancer care.
Rising Incidence of Cancer Cases
The rising incidence of cancer cases is one of the key factors driving the oncology information systems market growth. A wide range of novel technologies is being developed, with the potential to completely transform the treatment regime.
As a result of the increasing prevalence of cancer, there might be a great demand for oncology information systems to streamline patient information and data management. Consequently, it will eventually drive the oncology information systems market's future trends and the oncology information systems market's key trends and opportunities.
A few other factors are driving the oncology information system market forward, such as the growing need to reduce oncology care costs and the growing adoption of electronic health records (EHR) and other oncology information systems.
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Lack of Qualified Resources
The lack of qualified resources is a key hindrance to implementing oncology information systems solutions in hospitals. Currently, demand for oncology information systems mainly healthcare IT professionals outnumbers supply in both developing and developed markets, including the United States and Europe. Also, the growing number of healthcare IT initiatives adds to the overall burden.
Traditional Healthcare Delivery Model and Research Systems Influencing the Oncology Information
The healthcare IT industry of the oncology information systems market is divided into several sectors, including medical technology, healthcare, medical devices, and digital health. With the use of modern and advanced technologies, the oncology information systems market is disrupting the traditional healthcare delivery model and research systems influencing the oncology information systems market trends and forecasts.
An integrated healthcare IT environment aids in the identification of gaps in the oncology care continuum while reducing ineffective or unnecessary processing steps. Further, it contributes to the elimination of healthcare redundancy, allowing hospital systems to provide patient-centered care across and between healthcare providers which impacts oncology information systems market opportunities.
Healthcare organizations have reduced operational costs while improving care quality by deploying various healthcare IT solutions and treatment planning solutions. This is fueling demand for oncology information systems among key end-user segments constructively affecting oncology information systems market adoption trends.
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The oncology information systems market has been segmented into solutions and professional services based on products and services. The solutions segment accounted for 73.4% of global revenue.
The segment of the oncology information systems market is also expected to grow at a significant rate during the forecast period. Further, this segment is dominating the market due to increasing adoption by healthcare providers for proper radiology imaging management. These solutions aid in the capture of cancer patient-reported outcomes and facilitate direct communication between patients and doctors, resulting in the oncology information systems market growth of this segment.
The development of advanced oncology information systems (OIS) Solutions, which aid in better patient data management and improve cancer treatment, can also be attributed to segment growth. Additionally, the solutions segment of the oncology information systems market is further subdivided into patient information systems and treatment planning systems, with the latter accounting for the largest oncology information systems market share.
Professional services, on the other hand, are becoming widely accepted, as most hospitals and clinics outsource oncology information systems (OIS) services due to a shortage of skilled professionals in hospitals and clinics. These services offer online consultation as well as customized schedules and reports, which help to improve the quality of care.
The medical oncology segment is estimated to account for 61.2% of global revenue. Due to rapid advancements in immunotherapy, hormonal therapy, and targeted therapy for effectively treating various cancers, the medical oncology segment is expected to expand at a significant CAGR over the forecast period.
Several initiatives about cancer research are being undertaken by the leading players, which are positively influencing the oncology information systems market growth as well as the demand for oncology information systems.
North America’s regional oncology information systems market had the significant revenue oncology information systems market at 38.5% with the United States forecasted at a market share of 36%. Moreover, the presence of sophisticated healthcare infrastructure and increased awareness about patient information management in the region are key factors driving oncology information systems market growth along with sales of oncology information systems.
The increasing demand for oncology information systems to track and record cancer patients' treatment outcomes, as well as the growing importance of EMR in making better treatment decisions, are expected to drive regional oncology information systems market growth. Additionally, the increasing demand for treatment schedule management, dose management, and treatment planning is expected to drive up demand for oncology information systems and sales of oncology information systems in this region.
A strong presence of several global players in the region aids the oncology information systems market growth. Countries in Asia like India are forecasted to expand at a CAGR of 7.8% and Japan is forecasted to capture a value share of 4%. These countries are experiencing high demand for oncology information systems and are gradually developing as a result of supportive government policies and increased awareness about the benefits of these systems.
This region may serve as a hot revenue pocket for oncology information systems market players looking to capitalize on the region's potential. As a result, players seeking a large share of the oncology information systems market must develop specific pricing policies as well as marketing strategies tailored to this region to gain a foothold in these leading oncology information systems markets.
Key oncology information systems market companies are primarily focused on incorporating technological innovation with the introduction of web-based oncology solutions and AI-based oncology information systems market solutions. Also, the goal of improving the treatment regime of these companies is expected to positively impact the oncology information systems market growth in the forthcoming years.
The oncology information systems market's key players account for a sizeable portion of the oncology information systems market share and are widely recognized. Moreover, small-to-midsized players are also present in the oncology information systems market. They provide a limited selection of oncology information systems and primarily cater to sales of oncology information systems to local clients.
Since most of these well-known companies have extensive global distribution networks to reach their sizable customer bases, their influence on the oncology information systems market is quite significant.
The leading players in the oncology information systems market are concentrating on strategic initiatives like product launches, acquisitions, collaborations, participation in events, and expansions to boost revenue oncology information systems market growth and solidify their positions in the oncology information systems market,
Recent Developments
| Report Attributes | Details |
|---|---|
| Growth Rate | CAGR of 7.8% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Product Type, Application, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; The Middle East and Africa |
| Key Countries Profiled | The United States, Canada, Brazil, Mexico, Rest of Latin America, Germany, The United Kingdom, France, Spain, Italy, Rest of Western Europe, Poland, Russia, Czech Republic, Romania, Rest of Eastern Europe, India, Bangladesh, Australia, New Zealand, Rest of South Asia and the Pacific, China, Japan, South Korea, GCC countries, South Africa, Israel, Rest of the Middle East and Africa |
| Key Companies Profiled | Elekta AB; Accuray Inc.; Varian Medical Systems; RaySearch Laboratories; Cerner Corp.; BrainLab; Philips Healthcare; Prowess, Inc.; DOSIsoft S.A.; ViewRay Inc.; MIM Software; Flatiron |
| Customization | Available Upon Request |
North America and Europe are projected to emerge as lucrative markets for oncology information systems.
The growth potential of the oncology information systems market is 7.8% through 2033.
The high cost of adoption and lack of awareness about oncology information systems are likely to limit market growth.
North America is likely to generate 35% revenue in 2023.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product 5.1. Solutions 5.1.1. Patient Information Systems 5.1.2. Treatment Planning Systems 5.2. Professional Services 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 6.1. Medical Oncology 6.2. Radiation Oncology 6.3. Surgical Oncology 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. South Asia and Pacific 7.6. East Asia 7.7. Middle East and Africa 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Elekta AB 17.2. Accuray Inc. 17.3. Varian Medical Systems 17.4. RaySearch Laboratories 17.5. Cerner Corp. 17.6. BrainLab 17.7. Philips Healthcare 17.8. Prowess, Inc. 17.9. DOSIsoft S.A. 17.10. ViewRay Inc. 17.11. MIM Software 17.12. Flatiron 18. Assumptions & Acronyms Used 19. Research Methodology
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Oncology Information Systems Market
