Market Overview

Oncology Information Systems Market Size Worth Around $4 Billion By 2026: Acumen Research and Consulting

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Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled "Oncology Information Systems Market (Products & Services: Software (Patient Information Systems, Treatment Planning Systems), Professional Services; Application: Medical Oncology, Surgical Oncology, Radiation Oncology) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2026".

LOS ANGELES, Feb. 15, 2019 (GLOBE NEWSWIRE) -- The global oncology information systems market is expected to reach the market value of around $4 billion by 2026 and is expected to grow at a CAGR of nearly 8% in terms of revenue during the period 2018 - 2026.

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Oncology information systems (OIS), also known as oncology information management systems (OIMS), which are mainly designed to help organize healthcare among providers. The factor that drives the growth of the market includes the availability of oncology information systems with improved features such as security improvements throughout the complete software solutions, improving operational efficiency, automates data exchange and maximizes system interoperability through the use of industry-standard protocols. In addition, an increase in the dominance of cancer cases is one of the major factor fuelling the growth of the oncology information systems market. Also, there are some advantages of oncology information systems over conventional record maintenance practices which are likely to boost the market growth. Furthermore, the growing opportunities for expanding the market are the use of artificial intelligence in oncology information systems and the available potential of emerging markets. However, the factor that is hampering market growth is a high cost associated with oncology information systems.

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Patient Information Systems Software Improving the healthcare sector

The global oncology information system market is envisaged to earn revenue from the sale of products in research centers, hospitals and oncology clinics. Adoption of oncology information system may be higher in hospitals. There are wide range of products and services offered in the global oncology information system market, such as maintenance services and post sale, implementation services, treatment planning systems software, consulting services, and patient information services. Among these, patient information systems accounted to be the larger demand in the global oncology information system market in recent years. Furthermore, this system has numerous benefits in health care sector such as

  • Reducing costs through decreased paperwork, enhanced safety, reduced replica of testing, and better health.
  • Enabling rapid access to patient records for more synchronized, efficient care
  • Enabling safer, more consistent prescribing
  • Helping providers more efficiently diagnose patients, reduce medical errors, and provide safer care
  • Helping providers improve efficiency and work-life balance
  • Helping promote comprehensible, complete documentation and accurate, streamlined coding and billing
  • Improving patient and provider interface and communication, as well as health care convenience
  • Securely sharing electronic information with patients and other clinicians
  • Enhancing privacy and security of patient data
  • Providing accurate, up-to-date, and complete information about patients at the point of care
  • Enabling providers to improve effectiveness and meet their business goals

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Regional Outlook

On the basis of region, North America is anticipated to dominate the oncology information systems market owing to numerous major market participants domiciles, the existences of developed healthcare infrastructure, a surge in the number of cancer cases, and high prevalence of technologically advanced devices or services. North America is followed by Europe in terms of revenue during upcoming years accounted to rising cancer incidence and increasing adoption and use of healthcare IT in European countries such as UK, Germany, Spain, France, and Italy. In Asia-Pacific market is likely to showcase higher CAGR during the forecast period owing to the frequency of geriatric population base, rising mortality burden of cancer and growing awareness about oncology information systems in China, Japan, India, and Australia. The Middle East & Africa has the least share of the global oncology information systems market due to improving quality healthcare. Moreover, in the Middle East, rapidly changing in the health sector and many opportunities were seen by the industry over the past few years. The quickly progressing technological landscape would maintain to shape healthcare in the near future.

Key Players

There are many players attracted by rising oncology information systems market and crucial existing demand, and are intensifying their business through advanced development in product. Some of the key players operating in the global oncology information systems market, profiled in the report include Elekta AB, Varian Medical Systems, Accuray Incorporated, Cerner Corporation, RaySearch Laboratories, Flatiron and among others.

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