The global oncology information systems market size was valued at $3,082.3 Million in 2022, and is estimated to reach $5,538.66 Million by 2032, growing at a CAGR of 6% from 2023 to 2030. Oncology information system (OIS) is a comprehensive information and image management solution that facilitates in the management and optimization of cancer patient profiles & treatment. Patient portfolios are managed by software known as OIS in healthcare settings such as clinics, hospitals, and research laboratories.
The global oncology information systems (OIS) market declined in 2022 due to the global economic recession led by the COVID-19 pandemic. The non-essential procedures took a potential backlog due to the rapid rise in COVID-19 cases. The demand for OIS solutions declined during the pandemic, owing to shut down of many hospitals and oncology clinics. Thus, the outbreak of COVID-19 has negatively impacted the OIS market.
Furthermore, this software is used to predict treatment outcomes, plan treatment, and exchange cancer patient information across healthcare organizations. These benefits improve the safety and efficacy of cancer treatment for patients. OIS assists physicians and surgeons in selecting the most appropriate therapy to improve the survival ratesof cancer patients.
Request a Sample@ https://www.qyresearchmedical.com/sample/119538
The growth of the oncology information systems market is majorly driven due to increase in prevalence of cancer cases and plethora of treatment patterns that have enforced healthcare givers to adopt a comprehensive data management system for maintaining large data sets, including patient records and treatment practices. These data management systems or OIS are designed for proper documentation of patient record, maintenance of patient treatment patterns, maintenance of electronic health record (EHR)/electronic medical record (EMR), and treatment prediction. These features offer scope for automation, accessing, and maintaining patient records through a single interface and workflow. Hence, rise in cancer prevalence is anticipated to augment the growth of the OIS market during the forecast period.
In addition, availability of various OIS with improved features drives the market growth. OIS has gradually replaced manual and paper medical records, owing to digitalization. These systems are designed to conveniently manage patient treatment plans, treatment schedules, treatment delivery, treatment summaries, and test results. The inbuilt software in these systems simplifies and streamlines the workflow, which aids in providing quality care for patients. OIS provides complete and precise information about personal & medical histories, clinical diagnoses, actual & planned treatment regimens, and post-treatment outcomes. These systems monitor various modalities of oncology care for patients.
However, high costs associated with the systems and dearth of trained workforce for handling healthcare management and information technology systems are expected to restrain the growth of the market. Conversely, development of plethora of products, various strategies among the key players, and increase in use of artificial intelligence are expected to provide great opportunity for the key players to invest.
What is the Impact of COVID-19 Pandemic on the Oncology Information Systems Market?
In addition, the COVID-19 outbreak is anticipated to have a negative impact on the oncology information systems market. A huge number of clinics and hospitals across the globe were restructured to increase the hospital capacity for patients diagnosed with COVID-19. Nonessential procedures took a potential backlog due to rapid rise in COVID-19 cases. The lockdown led to disruption of manufacturing and transportation of healthcare essentials. The demand for OIS solutions declined during the pandemic, owing to shut down of many hospitals and oncology clinics. However, increase in vaccination rate is expected to stabilize the market.
Oncology Information Systems Market Segmentation
The OIS market is segmented into product & services, application, end user, and region. Based on product & service, it is bifurcated into software and services.
The software segment is further divided into patient information systems and treatment planning systems, while the services segment is segmented into consulting/optimization services, implementation services, and maintenance services. By application, it is fragmented into radiation, medical, and surgical oncology. On the basis of end user, it is classified into hospitals & oncology clinics and research centers.
Region wise, the oncology information systems market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, and rest of Europe), Asia-Pacific (Japan, China, India, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Turkey, Saudi Arabia, and rest of LAMEA).
Depending on product & services, the services segment dominated the market in 2022, and is expected to remain dominant during the forecast period, owing to increase in utilization of wide range of services and personalization of treatments offered.
As per application, the medical oncology segment dominated the market in 2022, and is expected to remain dominant during the forecast period as the OIS software manages, interprets, analyses, and stores the information of patient efficiently. In addition, as the software assists to predict the treatment outcome for patients, which, in turn, helps to improve the survival rate of the patient.
On the basis of end user, the hospitals & oncology clinics segment dominated the oncology information systems market in 2022, and is expected to remain dominant during the forecast period, owing to increase in number of cancer cases and patients visits to the hospitals as well as the clinic.
Region wise, North America has the major share in the global oncology information systems market in 2022, and is anticipated to remain dominant during the forecast period. This is attributed to prevalence of cancer, adoption of technologically advanced products, and rise in healthcare expenditure. However, Asia-Pacific is anticipated to witness notable growth, owing to rise in disposable income, increase in government initiatives to modernize healthcare infrastructure, and rise in healthcare expenditure. Moreover, India and China are expected to grow at high CAGR in Asia-Pacific OIS market.
Key Benefits for Stakeholders
- The study provides an in-depth analysis of the oncology information systems market, current trends, and future estimations to elucidate the imminent investment pockets.
- It presents a quantitative analysis of the market from 2023 to 2032 to enable stakeholders to capitalize on the prevailing oncology information systems market opportunities.
- Extensive analysis of the market based on procedures and services assists to understand the trends in the industry.
- Key players and their strategies are thoroughly analyzed to understand the competitive outlook of the oncology information systems market.
Oncology Information Systems Market Report Highlights
|BY PRODUCT AND SERVICES||
|BY END USER||
|Key Market Players||Accuray Incorporated, BMSI Partners Inc., (Bogardus Medical Systems, Inc.), Cerner Corporation, CureMD Corporation, Elekta AB, F. Hoffmann LA Roche AG (Flatiron Health, Inc.), Siemens AG (Siemens Healthnieers), Koninklijke Philips N.V., McKesson Corporation, Nasdaq Inc. (RaySearch Laboratories AB)|
Buy quantitative research Report at discounted price – USD 1500 https://www.qyresearchmedical.com/report/checkout/119538/
You can place an order or ask any questions, please feel free to contact [email protected] | +1 9197 992 333
QYResearch Medical has more than 4000 global well-known customers, covering more than 30 industries including pharmaceuticals, medical technology & devices, healthcare services etc. Company services cover one-stop solution as Data-Analysis-Suggestion-Consulting Implementation. Research regions cover North America, Europe, Latin America, Middle East and Africa, Asia- Pacific.
For Latest Update Follow Us:
URL – http://www.qyresearchmedical.com/