The Worldwide Oncology Information System Industry is Expected to Reach $9.5 Billion by 2025 – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Oncology Information System Market by Software (Patient Information System, TPS, RIS, PACS, Services), Application (Medical, Radiation, Surgical Oncology), Enduser (Hospitals, Cancer Care Centers, Government Institution, Academia) – Global Forecast to 2025” report has been added to ResearchAndMarkets.com’s offering.

The Oncology Information Systems Market is Projected to Reach USD 9.5 Billion by 2025 from USD 6.7 Billion in 2020, at a CAGR of 7.4%

Growth of the market is mainly attributed to the technological advancements; increasing incidences of cancer cases, and growing public and private investments, funding, and grants are driving the global oncology information systems market. However, complex regulatory frameworks that delay the approval of new oncology information systems is expected to challenge market growth to a certain extent.

In terms of products, Software segment to register significant growth during the forecast period.

Based on the product, the oncology information systems market is segmented into software, and professional services. Software products include patient information systems, treatment planning systems, and treatment management systems & medical image analysis systems. Significant growth of the orthopedic implants and devices segment is attributed to the ongoing product approval of oncology informatio solutions , increasing agreement between OIS vendors and multinational hospitals for the impementation of oncology information systems , and the increasing availability of these products in major markets. These software allow early recovery of the cancer patients and planned procedure which have led to the growth of this segment.

In terms application, radiation oncology segment to register significant growth during the forecast period.

Based on the application, the oncology information systems market is segmented into radiation oncology, medical oncology and surgical oncology. The radiation oncology segment accounted for a larger share of in the market in 2019. The increasing prevalence recurrence of secondary cancer cases , growing number of radiosurgery procedures and increasing customer base for oncology information systems for radiology are factors expected to drive the growth of this market segment in the coming years.

Hospitals & Diagnostic Imaging Centers segment is expected to account for the largest share of the oncology information systems market.

On the basis of end-users, the oncology information systems market has been segmented into hospitals & diagnostic imaging centers, ablation & cancer care centers, government institutions, and research facilities. The growth of this segment is attributed to the significant number of availability of state-of-the-art facilities for diagnosis, treatment, and disease management, as well as trained personnel, has ensured a steady demand for hospital-based care and the growing number of hospitals across major markets. The inflow of cancer patients is considerably higher in hospitals as compared to other healthcare settings, which is another key driver for market growth. More radiosurgery procedures are conducted in hospitals than in other medical facilities, contributing to the large share of this end-user segment.

Asia Pacific market is expected to grow at the highest CAGR during the forecast period.

The Asia Pacific market is estimated to grow at the highest CAGR during the forecast period majorly due to the heavy burden of cancer, rising healthcare expenditure, and increasing geriatric population prone to develop cancer. Apart from this, the rising number of hospitals and cancer care centers in the APAC region is expected to propel the market for foot and ankle devices.

Market Dynamics

Drivers

• Cost-Benefits of Ois Vis-A-Vis Rising Healthcare Expenditure
• Growing Adoption of Ehrs and Other Oncology Healthcare It Solutions to Improve Care Quality
• Increasing Incidence and Prevalence of Cancer
• Favorable Government Mandates and Support for Oncology Information Systems
• Potential Benefits of and Technological Advancements in Oncology Information Systems

Restraints

• Interoperability Issues
• High Cost of Oncology Information Systems

Opportunities

• Growing Healthcare IT Industry
• Integration of Emr with Treatment Planning Systems

Challenges

• Integration Between Various Oncology Information Systems Within the Healthcare Industry

Companies Profiled

• Mckesson Corporation
• Varian Medical Systems, Inc.
• Elekta Ab
• Siemens Healthineers
• Philips Healthcare
• GE Healthcare
• Cerner Corporation
• IBM
• Accuray Incorporated
• Epic Systems Corporation
• Allscripts Healthcare Solutions, Inc.
• F. Hoffmann-La Roche Ag
• Raysearch Laboratories Ab
• Curemd Healthcare
• Bogardus Medical Systems, Inc.
• Optum
• Mica Information Systems, Inc.
• Advanced Data Systems
• Endosoft, LLC
• Amerisourcebergen Corporation

For more information about this report visit https://www.researchandmarkets.com/r/mipjp4

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