Product Code: RP-ID-10059488 |
Published Date: 21 Oct 2022 |
Region: NA |
Category: Healthcare & Pharmaceuticals |
Report ID: 10059488
Market Overview:
Global Oncology Information System Market Outlook 2030
The global oncology information system market will be worth ~ USD 3 billion by end of 2021, and it is expected to expand at a compound annual growth rate (CAGR) of ~8% from 2022 to 2030. In the field of oncology for cancer care and treatment, greater adoption of OIS solutions is expected to be one of the key drivers of market growth. A wide range of new technologies are being developed that have the potential to significantly change treatment options. The Oncology Information System (OIS) helps organizations and health centers manage cancer treatment. Therefore, it is expected that increased investment in oncology by the government and mature market participants will drive the market.In addition, the growing demand for OIS to simplify patient and data management has led to an increase in demand for various types of software. The companys increased investment in cancer research is driving the market. The tumor information system market is expected to experience considerable growth in the near future, and the company can invest in the development of new, innovative and technologically advanced products. It is recommended to invest at this time, because some governments are taking steps to increase investment in cancer research. As oncology is a rapidly developing field, the increase in investment by several major cancer research companies and the increase in R&D funding from cancer research institutions and centers have further promoted the development of the market.
In addition, the introduction of artificial intelligence in oncology is one of the factors driving the growth of the oncology information system market in the future. End-use facilities have a high demand for systems and software, which are mainly used by pharmaceutical companies and hospitals. In addition, major players are launching many new products, but innovation is limited. Therefore, investing in research and development to develop products with more functions than those on the market may be beneficial to the company. For example, in 2020, Varian Medical Systems, Inc. Announced an investment of approximately US$10 million and reached a strategic cooperation agreement with COTA, Inc., a curator of clinical data in the cancer field. Both companies will focus on providing decision support tools, data analysis and operational decisions for cancer clinics.
The oncology information system helps to effectively manage treatment plans, treatment implementation and planning, and also helps facilitate the flow of information between the radiotherapy (RT) department and healthcare companies. These OIS systems also assure doctors that they provide the right patient with the right procedure and treatment plan for the right cancer site, and ensure effective treatment by providing doctors with comprehensive information about radiation therapy and treatment results. Process to improve the quality of treatment.
In addition, the demand for future treatment planning systems will grow due to its advantages, such as storing large amounts of data and retrieving information when necessary, and helping clinicians arrange treatment for multiple patients. Companies such as Varian Medical Systems, Elekta AB, and Accuray Incorporated are some of the major players in this market.
PRODUCT AND SERVICE INFORMATION:
In 2020, the software sector will dominate the tumor information system market, accounting for the largest share of revenue at 74%. In addition, this market segment is expected to achieve the fastest growth during the forecast period. As healthcare providers increasingly adopt appropriate radiological data management, this market segment is dominating the market. The software helps capture the results reported by cancer patients and facilitates direct communication with patients and doctors, thereby driving the growth of this market segment. The growth of the software sector can also be attributed to multiple factors, such as the development of more advanced OIS software, which helps to better manage patient data and improve cancer treatment. The department is further divided into patient information system and treatment planning system, of which the treatment planning system department will account for the largest share of revenue in 2020.
However, due to the lack of well-trained professionals in hospitals and clinics, most hospitals and clinics outsource OIS services and therefore increasingly accept professional services. These services provide o
nline queries and personalized timetables and reports, thereby helping to improve the quality of care.
APPLICATION PROSPECTS:
Medical oncology occupies a dominant position in the tumor information system market, with the largest revenue share in 2020, at 60%. In addition, due to a variety of factors, the segment is expected to have the highest compound annual growth rate in the prognosis period, such as immunotherapy, hormone therapy and targeted therapy to effectively treat various cancers. In addition, major players are carrying out various initiatives related to cancer research, which have had a more positive impact on the growth of this segment.
However, within the expected few years, the surgical oncology segment is also expected to achieve significant growth in the tumor information system market. For decades, cancer care has developed rapidly. Surgery is no longer the treatment method for most solid malignant tumors, but the combination of surgery and multimodal therapy that mainly focuses on radiotherapy, targeted molecular therapy and chemotherapy is the preferred treatment method. Some operations, such as cytoreductive surgery, ex vivo limb infusion, laparoscopic cancer surgery, and sarcoma surgery, can be performed in highly specialized medical centers. Therefore, the increasing complexity of solid tumor surgical treatment is expected to drive the growth of this market segment.
REGIONAL OUTLOOK:
North America dominates the oncology information system market and will occupy the largest revenue share in 2020 at 37%. The key factors contributing to this growth include the presence of advanced medical infrastructure in the region and increased awareness of patient information management. In addition, cancer information systems are increasingly being used to track and record the treatment results of cancer patients, and EMR in The increasing importance of making better treatment decisions are some of the key factors driving the demand for tumor information in the cancer system. In addition, the increasing demand for managing treatment plans, dosages, and treatment plans is expected to increase the demand for OIS in the region. Some of the major players operating in North America are Accuray Incorporated; Senna; Varian Medical Systems; Maxson; and Epic Systems.
However, Asian countries are experiencing high demand for cancer information systems and are gradually developing due to increasing awareness of the benefits of OIS and government policy support. This area can be used as an income pool for players who want to tap the potential of the area. Therefore, participants who want to occupy a large share of this market must design specific pricing policies and marketing strategies developed specifically for the region to help them gain a foothold in these lucrative markets.
KEY COMPANIES AND MARKET SHARE PROSPECTS:
Key companies mainly focus on combining technological innovation with the introduction of network-based oncology solutions and artificial intelligence (AI)-based OIS solutions to improve treatment options, which are expected to have a positive impact on the market in the near future Future growth. Some of the major players in the Oncology Information System (OIS) market include: Elekta ABAccuray IncorporatedVarian Medical SystemsRaySearch LaboratoriesCerner CorporationBrainLabPhilips HealthcareProwess, Inc. DOSIsoft S.A.ViewRay Inc.MIM SoftwareFlatiron Health, Inc.
MARKET SEGMENTS COVERED BY THE REPORT:
The report forecasts global, regional, and national revenue growth, and analyzes the latest industry trends in each sub-segment from 2021 to 2030. For the purpose of this research, Kenneth Research has segmented reports on the global cancer information system market based on products and services, applications, and regions: Outlook products and services (revenue, millions of dollars, 2021 to 2030) patients Application prospects of software information system professional services for treatment planning systems (revenue, USD million, 2021 to 2030) Medical Oncology Radiation Oncology Surgical Oncology.
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