Oncology Information System Market By Products And Services (Software, Professional Services), Application (Radiation, Medical, Surgical), End-User (Hospitals & Diagnostic Imaging Centers, Government Institutions), & Region for 2024-2031
Report ID: 2297|No. of Pages: 202
Oncology Information System Market By Products And Services (Software, Professional Services), Application (Radiation, Medical, Surgical), End-User (Hospitals & Diagnostic Imaging Centers, Government Institutions), & Region for 2024-2031
Oncology Information System Market Valuation – 2024-2031
The increasing incidence of cancer cases worldwide is a major factor driving the market size to surpass USD 8.88 Billion in 2024 to reach a valuation of around USD 14.93 Billion by 2031.
Investments by companies in cancer research and development of innovative oncology information systems are expected to drive market growth. It enables the market to grow at a CAGR of 7.41% from 2024-2031.
Oncology Information System Market: Definition/ Overview
An Oncology Information System (OIS) is a specialized software solution designed to manage and streamline the complex array of clinical, administrative, and financial activities associated with cancer care. Unlike general hospital information systems that handle a broad range of medical conditions, an OIS focuses specifically on the unique requirements of oncology departments. It facilitates the documentation of patient histories, treatment responses, and medical prescriptions while also managing billing and administrative functions. By providing an integrated electronic health record tailored to oncology, OIS enhances care coordination among multidisciplinary teams, improves patient outcomes through better data management, and ensures compliance with regulatory standards.
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How does the Rising Prevalence of Cancer Impact the Growth of the Oncology Information System (OIS) Market?
The rising prevalence of cancer significantly impacts the growth of the oncology information system (OIS) market by driving demand for efficient data management and care coordination solutions tailored to cancer treatment. As reported, approximately 1,958,310 new cancer cases and 609,820 cancer deaths are projected to occur in the United States in 2023 alone, highlighting the urgent need for effective oncology care management tools. The increasing incidence of cancer coupled with an estimated 40.5% of individuals expected to be diagnosed with cancer at some point in their lives creates a pressing requirement for healthcare providers to adopt advanced OIS solutions that can streamline workflows, enhance patient outcomes, and ensure compliance with regulatory standards.
Furthermore, as the number of cancer survivors is projected to rise from 18.1 million in 2022 to 22.5 million by 2032, the demand for integrated systems that can manage long-term care and follow-up treatments is expected to grow correspondingly. Consequently, the OIS market is positioned for robust expansion as healthcare organizations seek to implement comprehensive solutions that effectively address the complexities of cancer care amidst this rising prevalence.
How does the High Cost of Implementing Oncology Information Systems Pose a Challenge to Market Growth?
The high cost associated with implementing oncology information systems poses a significant challenge to market growth. According to a study published in the JAMA Oncology journal, the global economic cost of cancer from 2020 to 2050 was estimated to be USD 25.2 Trillion, with the U.S. and China facing the largest economic burden. In this context, the substantial upfront investment required for adopting oncology information systems can be a deterrent, especially for smaller healthcare facilities. Integrating these systems with existing infrastructure, such as electronic health records (EHRs), laboratory information systems (LIS), and picture archiving & communication systems (PACS), often necessitates customization to fit specific workflows and requires significant financial resources, technical expertise, and time. Smaller healthcare providers may struggle to allocate the necessary resources for a smooth integration process, further restricting the growth of the oncology information systems market.
Additionally, the high cost of these systems can limit their adoption in low- and middle-income countries, where the burden of cancer is disproportionately high. As per the International Agency for Research on Cancer (IARC), the number of new cancer cases is expected to increase from 19.2 million in 2020 to 24.5 million by 2030, with mortalities rising from 9.9 million to 12.9 million during the same period. Addressing the cost barrier is crucial for ensuring equitable access to oncology information systems and enabling their widespread adoption to improve cancer care outcomes globally.
Category-Wise Acumens
How do Advancements in AI and Machine Learning in Software-Based Products Contribute to Better Cancer Care in the OIS market?
Advancements in artificial intelligence (AI) and machine learning (ML) within the oncology information system (OIS) market are revolutionizing cancer care by enhancing precision, efficiency, and patient outcomes. These technologies enable the analysis of vast amounts of clinical and genomic data, facilitating personalized treatment plans tailored to individual patient profiles. According to the National Cancer Institute (NCI), AI applications are increasingly being utilized for early detection and diagnosis, with over 20 FDA-approved AI models for mammography screening as of June 2023. These systems can detect subtle anomalies in medical images that may be overlooked by human eyes, thereby reducing false negatives and improving early cancer detection rates.
Furthermore, AI-driven tools are streamlining clinical workflows by automating tasks such as radiology image analysis and patient data management, which enhances the overall efficiency of oncology departments. As the healthcare landscape continues to evolve, the integration of AI and ML into oncology information systems is expected to play a pivotal role in advancing cancer care, ultimately leading to better health outcomes for patients while addressing disparities in access to quality treatment.
How does the Increasing Use of Radiation Therapy in Cancer Treatment Contribute to Radiation Oncology’s Dominance in the OIS Market?
The increasing use of radiation therapy in cancer treatment has significantly contributed to radiation oncology’s dominance in the oncology information system (OIS) market. It has been reported that approximately 50% of cancer patients require radiotherapy at some point during their treatment. The global radiation therapy market size was estimated at USD 7.47 Billion in 2023 and is expected to reach around USD 16.30 Billion by 2033, growing at a CAGR of 8.58% during the forecast period. This growth is attributed to the rising prevalence of cancer and the development of advanced radiation therapy technologies. Radiation oncology is anticipated to acquire the largest share of the global OIS market due to its unique ability to target tumor cells directly without affecting surrounding vital cells.
Moreover, radiation therapy has relatively minimal side effects compared to other oncology applications, leading to increased adoption of OIS for treatment planning, dose calculation, and overall efficiency enhancement. The integration of cutting-edge technologies such as artificial intelligence (AI) and machine learning (ML) in OIS is further driving the market growth by improving treatment decision-making and patient care outcomes in radiation oncology.
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Country/Region-wise Acumens
What Factors Contribute to the Rapid Growth of the OIS Market in the Asia Pacific Region?
The rapid growth of the oncology information system (OIS) market in the Asia Pacific region is influenced by several key factors. It has been reported that the incidence of cancer is increasing, with approximately 19.3 million new cases projected globally by 2020, and this number is expected to rise to 23 million by 2030. Government initiatives aimed at improving cancer care infrastructure are being implemented, such as India’s commitment to affordable cancer treatment through the Pradhan Mantri Jan Arogya Yojana (PMJAY), which aims to ensure financial protection for citizens in need.
Furthermore, investments in specialized training and equipment for radiation therapy are being made to address disparities in healthcare access across the region. These factors collectively contribute to a growing recognition of the need for efficient data management and treatment coordination solutions, thereby driving the adoption of oncology information systems in cancer care throughout Asia Pacific.
How does the High Prevalence of Cancer in North America Drive the Growth of the OIS Market?
The high prevalence of cancer in North America has been a significant driver for the growth of the oncology information system (OIS) market in the region. It has been estimated that in 2023, approximately 1,958,310 new cancer cases and 609,820 cancer deaths are projected to occur in the United States alone. The increasing incidence of cancer, coupled with the aging population, has led to a growing demand for efficient and effective cancer care solutions. As a result, the adoption of OIS has been on the rise in North America, as healthcare providers recognize the benefits of these systems in managing patient data, streamlining workflows, and improving treatment outcomes. The presence of advanced healthcare infrastructure and increased awareness about patient data management in the region have been key elements driving this expansion.
Furthermore, the increasing use of OIS to track and record cancer patients’ treatment outcomes, as well as the growing use of electronic medical records (EMR) in making better treatment decisions, are likely to drive regional market expansion. The North America oncology information systems market is expected to maintain its dominance during the forecast period, driven by the region’s high cancer prevalence and the increasing adoption of OIS solutions to enhance cancer care delivery.
Competitive Landscape
The competitive landscape of the oncology information system market is characterized by intense competition among key players, including established multinational corporations and innovative startups, striving to gain market share through product differentiation, technological innovation, strategic partnerships, and mergers and acquisitions.
Some of the prominent players operating in the oncology information system market include:
- Elekta AB
- Varian Medical Systems, Inc.
- Accuray Incorporated
- Epic Systems Corporation
- Cerner Corporation
- McKesson Corporation
- Philips Healthcare
- Siemens Healthineers
- RaySearch Laboratories
- IBM Watson Health
- GE Healthcare
- Elekta Oncology Systems
- IMPAC Medical Systems, Inc.
- RaySearch Americas, Inc.
- MIM Software, Inc.
- Flatiron Health, Inc.
- CureMD Healthcare
- Koninklijke Philips N.V.
- Medstreaming
- Agfa-Gevaert Group
Latest Developments
- In June 2024, At the ESTRO 2024 exhibition, Elekta launched its new market-leading CT-adaptive linac, named Elekta Evo. This product is designed to optimize radiation therapy delivery and improve patient care by enhancing treatment planning capabilities within the OIS framework.
- In March 2024, Varian Medical Systems, introduced Ethos AI-powered adaptive therapy, which integrates with its OIS to enable real-time treatment adaptation based on daily changes in patient anatomy. This technology aims to improve the precision and effectiveness of radiation therapy.
Report Scope
| Report Attributes | Details |
|---|---|
| STUDY PERIOD | 2021-2031 |
| Growth Rate | CAGR of ~7.41% from 2024 to 2031 |
| Base Year for Valuation | 2024 |
| Historical Period | 2021-2023 |
| Forecast Period | 2024-2031 |
| Quantitative Units | Value (USD Billion) |
| Report Coverage | Historical and Forecast Revenue Forecast, Historical and Forecast Volume, Growth Factors, Trends, Competitive Landscape, Key Players, Segmentation Analysis |
| Segments Covered |
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| Regions Covered |
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| Key Players | Elekta AB, Varian Medical Systems, Inc., Accuray Incorporated, Epic Systems Corporation, Cerner Corporation, McKesson Corporation, Philips Healthcare, Siemens Healthineers, RaySearch Laboratories, IBM Watson Health, GE Healthcare, Elekta Oncology Systems, IMPAC Medical Systems, Inc., RaySearch Americas, Inc., MIM Software, Inc., Flatiron Health, Inc., CureMD Healthcare, Koninklijke Philips N.V., Medstreaming, Agfa-Gevaert Group |
| Customization | Report customization along with purchase available upon request |
Oncology Information System Market, By Category
Products and Services:
- Software
- Professional Service
Application:
- Radiation Oncology
- Medical Oncology
- Surgical Oncology
End-User:
- Hospitals & Diagnostic Imaging Centers
- Ablation Care Centers and Cancer Care Centers
- Government Institutions
- Research Facilities
Region:
- North America
- Europe
- Asia-Pacific
- South America
- Middle East & Africa
Research Methodology of Verified Market Research
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Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 6-month post-sales analyst support
Customization of the Report
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Frequently Asked Questions
1 INTRODUCTION OF GLOBAL ONCOLOGY INFORMATION SYSTEM MARKET
1.1 Overview of the Market
1.2 Scope of Report
1.3 Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH
3.1 Data Mining
3.2 Validation
3.3 Primary Interviews
3.4 List of Data Sources
4 GLOBAL ONCOLOGY INFORMATION SYSTEM MARKET OUTLOOK
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 GLOBAL ONCOLOGY INFORMATION SYSTEM MARKET, BY PRODUCT AND SERVICES
5.1 Overview
5.2 Software
5.3 Professional Services
6 GLOBAL ONCOLOGY INFORMATION SYSTEM MARKET, BY APPLICATION
6.1 Overview
6.2 Medical Oncology
6.3 Surgical Oncology
6.4 Radiation Oncology
7 GLOBAL ONCOLOGY INFORMATION SYSTEM MARKET, BY END USER
7.1 Overview
7.2 Hospitals & Physician’s Offices
7.3 Government Institutions
7.4 Research Centers
8 GLOBAL ONCOLOGY INFORMATION SYSTEM MARKET, BY GEOGRAPHY
8.1 Overview
8.2 North America
8.2.1 U.S.
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 U.K.
8.3.3 France
8.3.4 Rest of Europe
8.4 Asia Pacific
8.4.1 China
8.4.2 Japan
8.4.3 India
8.4.4 Rest of Asia Pacific
8.5 Rest of the World
8.5.1 Latin America
8.5.2 Middle East and Africa
9 GLOBAL ONCOLOGY INFORMATION SYSTEM MARKET COMPETITIVE LANDSCAPE
9.1 Overview
9.2 Company Market Ranking
9.3 Key Development Strategies
10 COMPANY PROFILES
10.1 Koninklijke Philips N.V.
10.1.1 Overview
10.1.2 Financial Performance
10.1.3 Product Outlook
10.1.4 Key Developments
10.2 Varian Medical Systems, Inc
10.2.1 Overview
10.2.2 Financial Performance
10.2.3 Product Outlook
10.2.4 Key Developments
10.3 McKesson Corporation
10.3.1 Overview
10.3.2 Financial Performance
10.3.3 Product Outlook
10.3.4 Key Developments
10.4 Siemens Healthineers
10.4.1 Overview
10.4.2 Financial Performance
10.4.3 Product Outlook
10.4.4 Key Developments
10.5 Elekta AB
10.5.1 Overview
10.5.2 Financial Performance
10.5.3 Product Outlook
10.5.4 Key Developments
10.6 Epic Systems Corporation
10.6.1 Overview
10.6.2 Financial Performance
10.6.3 Product Outlook
10.6.4 Key Developments
10.7 IBM
10.7.1 Overview
10.7.2 Financial Performance
10.7.3 Product Outlook
10.7.4 Key Developments
10.8 Cerner Corporation
10.8.1 Overview
10.8.2 Financial Performance
10.8.3 Product Outlook
10.8.4 Key Developments
10.9 Advanced Data Systems
10.9.1 Overview
10.9.2 Financial Performance
10.9.3 Product Outlook
10.9.4 Key Developments
10.10 Bogardus Medical Systems, Inc
10.10.1 Overview
10.10.2 Financial Performance
10.10.3 Product Outlook
10.10.4 Key Developments
11 Appendix
11.1 Related Research
Report Research Methodology
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This additionally supports the market researchers in segmenting different segments of the market for analysing them individually.
We appoint data triangulation strategies to explore different areas of the market. This way, we ensure that all our clients get reliable insights associated with the market. Different elements of research methodology appointed by our experts include:
Exploratory data mining
Market is filled with data. All the data is collected in raw format that undergoes a strict filtering system to ensure that only the required data is left behind. The leftover data is properly validated and its authenticity (of source) is checked before using it further. We also collect and mix the data from our previous market research reports.
All the previous reports are stored in our large in-house data repository. Also, the experts gather reliable information from the paid databases.
For understanding the entire market landscape, we need to get details about the past and ongoing trends also. To achieve this, we collect data from different members of the market (distributors and suppliers) along with government websites.
Last piece of the ‘market research’ puzzle is done by going through the data collected from questionnaires, journals and surveys. VMR analysts also give emphasis to different industry dynamics such as market drivers, restraints and monetary trends. As a result, the final set of collected data is a combination of different forms of raw statistics. All of this data is carved into usable information by putting it through authentication procedures and by using best in-class cross-validation techniques.
Data Collection Matrix
| Perspective | Primary Research | Secondary Research |
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Econometrics and data visualization model
Our analysts offer market evaluations and forecasts using the industry-first simulation models. They utilize the BI-enabled dashboard to deliver real-time market statistics. With the help of embedded analytics, the clients can get details associated with brand analysis. They can also use the online reporting software to understand the different key performance indicators.
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The collected data includes market dynamics, technology landscape, application development and pricing trends. All of this is fed to the research model which then churns out the relevant data for market study.
Our market research experts offer both short-term (econometric models) and long-term analysis (technology market model) of the market in the same report. This way, the clients can achieve all their goals along with jumping on the emerging opportunities. Technological advancements, new product launches and money flow of the market is compared in different cases to showcase their impacts over the forecasted period.
Analysts use correlation, regression and time series analysis to deliver reliable business insights. Our experienced team of professionals diffuse the technology landscape, regulatory frameworks, economic outlook and business principles to share the details of external factors on the market under investigation.
Different demographics are analyzed individually to give appropriate details about the market. After this, all the region-wise data is joined together to serve the clients with glo-cal perspective. We ensure that all the data is accurate and all the actionable recommendations can be achieved in record time. We work with our clients in every step of the work, from exploring the market to implementing business plans. We largely focus on the following parameters for forecasting about the market under lens:
- Market drivers and restraints, along with their current and expected impact
- Raw material scenario and supply v/s price trends
- Regulatory scenario and expected developments
- Current capacity and expected capacity additions up to 2027
We assign different weights to the above parameters. This way, we are empowered to quantify their impact on the market’s momentum. Further, it helps us in delivering the evidence related to market growth rates.
Primary validation
The last step of the report making revolves around forecasting of the market. Exhaustive interviews of the industry experts and decision makers of the esteemed organizations are taken to validate the findings of our experts.
The assumptions that are made to obtain the statistics and data elements are cross-checked by interviewing managers over F2F discussions as well as over phone calls.
Different members of the market’s value chain such as suppliers, distributors, vendors and end consumers are also approached to deliver an unbiased market picture. All the interviews are conducted across the globe. There is no language barrier due to our experienced and multi-lingual team of professionals. Interviews have the capability to offer critical insights about the market. Current business scenarios and future market expectations escalate the quality of our five-star rated market research reports. Our highly trained team use the primary research with Key Industry Participants (KIPs) for validating the market forecasts:
- Established market players
- Raw data suppliers
- Network participants such as distributors
- End consumers
The aims of doing primary research are:
- Verifying the collected data in terms of accuracy and reliability.
- To understand the ongoing market trends and to foresee the future market growth patterns.
Industry Analysis Matrix
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