Oncology Information System Market Size
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
CAGR | 8.50 % |
Fastest Growing Market | Asia-Pacific |
Largest Market | North America |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Oncology Information System Market Analysis
The oncology information system market is projected to register a CAGR of 8.5% over the forecast period.
- The healthcare system witnessed enormous challenges as a result of the COVID-19 pandemic. All outpatient treatments were postponed or restricted during the COVID-19 pandemic to reduce the risk of viral transmission, as most chronic therapies were regarded as non-urgent. According to the study published in the Clinical Journal of Oncology Nursing in July 2022, technology has improved the cancer care continuum for patients, providers, and the system as a whole, notably by allowing nurses to extend their reach and improve their ability to offer care.
- During the epidemic, nurses learned to rely on digital health tools to safely communicate with patients and caregivers, many of whom had previously received care on-site. Patients and nurses benefited from the quick transition to telehealth since it reduced unwanted exposure. Also, according to the IAEA Bulletin, February 2022, there has been a rise in the use of online platforms, such as the Asia-Pacific Radiation Oncology Network (ASPRONET) and the Africa Radiation Oncology Network (AFRONET), to share information and connect peer support radiation oncology departments regionally. Thus, such instances positively impacted market growth during a pandemic. However, in the coming years, the use of oncology information technology is expected to increase as the cancer burden grows at a rapid pace. Hence the market is expected to project stable growth.
- The major factors attributing to the growth of the oncology information systems market include the rising incidence of cancer cases worldwide. For instance, according to the Breast Cancer Factsheet Now 2021, around 55,000 women and 370 men in the United Kingdom are diagnosed with breast cancer every year. Breast cancer has claimed the lives of an estimated 600,000 people in the United Kingdom. This figure is expected to climb to 1.2 million by 2030. The huge prevalence of cancer cases around the world is likely to increase the utilization of oncology information systems to handle large volumes of patient data. Thus, the studied market is expected to grow significantly over the forecast period.
- Furthermore, growing government initiatives to increase cancer awareness are expected to support market expansion over the forecast period. For instance, In October 2021, the government of the Australian Capital Territory had launched National Cervical Cancer Awareness Week 2021, which was held on November 8-14, 2021. The theme of the week, "Time to Catch Up," had built on last year's message and had encouraged women aged 25-72 to prioritize their cervical health by getting screened regularly. Throughout the week, various events and initiatives had taken place across the territory to promote awareness and education about cervical cancer, including free screening services, public talks, and social media campaigns. The government had emphasized the importance of early detection and prevention in reducing the incidence and mortality rates of cervical cancer in Australia.
- With this, the government is trying to raise awareness that will build on the World Health Organization's vision of a world where cervical cancer is eliminated as a public health problem by 2030. Such initiatives boost awareness and thus drive the growth of the market.
- In August 2022, the Koita Centre for Digital Oncology (KCDO) was founded by the National Cancer Grid (NCG) to encourage the use of digital technology and tools to enhance cancer care throughout India. The Koita Foundation had made contributions to the Center's establishment, and they had committed to doing so for the next five years. At the Tata Memorial Hospital in Mumbai, the Tata Memorial Centre and Koita Foundation had signed an MoU to formally establish their partnership.
- Such initiatives were expected to add to the growth of the market and improve cancer care in India. The KCDO aimed to provide a platform for collaboration and knowledge-sharing among healthcare professionals, researchers, and innovators in the field of oncology. The Center had also planned to develop and implement digital solutions to improve cancer screening, diagnosis, and treatment outcomes.
- The rise in the adoption of oncology information systems is also contributing to the growth of the market. For instance, in August 2021, Icon Group reported the adoption of the ARIA oncology information system (OIS) with new multi-disciplinary functionality. Such activities are expected to boost the growth of the market under consideration.
- Thus, all the aforementioned factors, such as the growing prevalence of cancer and the rising adoption of OIS systems, are expected to propel the growth of the market. However, the high costs involved in cancer therapies and the dearth of skilled professionals are expected to slow down the market's growth over the forecast period.
Oncology Information System Market Trends
Software Segment is Expected to Hold the Largest Market Share in the Oncology Information System Market
- The software segment has dominated the market owing to the increase in cancer patients globally and the tests associated with the examination and treatment of cancer patients. Software is a set of instructions, data, or programs used to operate computers and execute specific tasks. The use of software systems in cancer management can aid in controlling the rising oncology care costs and improving the efficiency of oncology care services by reducing medical errors, which will significantly benefit the market.
- Oncology Information System (OIS) is a software solution that manages departmental, administrative, and clinical activities. It aggregates information into a complete oncology-specific electronic medical record to support medical information management. Thus, due to the benefits associated with oncology information software, the demand for it is expected to increase over the forecast period.
- According to the REDECAN study published in November 2022, breast cancer is the most frequent cancer and the primary cause of cancer-related death in women in Spain, with an estimated 34,750 women diagnosed with the disease in Spain in 2022. Additionally, there were expected to be 30,948 new cases of lung cancer diagnosed in Spain in 2022.
- Further, the same source mentioned above reported that in 2022, 22,316 men and 8,632 women were diagnosed with lung cancer. Thus, the growing prevalence of cancer and the need for early diagnostics are expected to increase, supporting segment expansion over the forecast period. The high number of people in the population affected by cancer results in an increasing demand for cancer management systems, which is expected to boost growth over the forecast period.
- Product launches by key market players are also helping to drive the growth of the studied market. For instance, in December 2021, Roche launched the NAVIFY Oncology Hub, one of the latest digital solutions, to further enhance clinical decision support and workflow optimization for oncologists and oncology care teams. navify Oncology Hub presents the information as a longitudinal timeline view of the patient's full oncologic history, combined with a concise snapshot of the individual's current status. The rise in interest in the digitization of oncology services is expected to contribute to market growth over the forecast period.
- Thus, the increased use of software in the management of cancer is expected to propel the growth of the segment over the forecast period.
North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period
- North America is expected to dominate the overall oncology information system market throughout the forecast period. This is owing to factors such as the rising prevalence of cancer and the availability of advanced healthcare infrastructure among the major factors.
- According to Cancer Facts and Figures 2023, published in January 2023 by the American Cancer Society, an estimated 1.9 million new cancer cases will be diagnosed in 2023, among which prostate cancer is estimated to be 288,300, followed by 238,340 cases of lung cancer, and 300,590 cases of female breast cancer.
- Furthermore, according to statistics published by the Government of Canada and released in May 2022, about 233,900 Canadians were diagnosed with cancer in 2022, and prostate cancer is expected to remain the most diagnosed cancer. According to the same source, breast cancer affects one out of every eight women at some point in their lives. Hence, the prevalence of cancer in the country is anticipated to create more opportunities for the development of oncology information systems in the country by supporting the process of data integration in different phases, such as screening, prevention, diagnosis, and treatment. This is likely to boost the growth of the market.
- Furthermore, an increase in awareness initiatives for cancer is expected to propel the growth of the market. For instance, every year in September, cancer awareness month is observed in the United States. During National Breast Cancer Awareness Month government renewed its commitment to assisting patients and their families, increasing access to care, and raising awareness about the life-saving value of early detection. Such initiatives may increase awareness of the ailment and support market expansion over the forecast period.
- Additionally, various organic and inorganic strategies adopted by the market players are expected to boost the market over the forecast period. For instance, in March 2021, McKesson launched ScriptPAS, a pharmacy management solution for oncology practices powered by Biologics by McKesson specialty pharmacy. Additionally, in April 2021, Siemens Healthineers AG completed the acquisition of Varian medical systems, Inc, an American radiation oncology treatments and software maker based in Palo Alto, California.
- Thus, all aforementioned factors, such as the growing burden of cancer and government initiatives with product launches, are expected to boost market growth in the North American region over the forecast period.
Oncology Information System Industry Overview
The oncology information system market is moderately competitive and consists of several major players. In terms of market share, a few of the major players are currently dominating the market. And some prominent players are vigorously making acquisitions and joint ventures with other companies to consolidate their market positions across the globe. The major players are Cerner Corporation, Elekta AB, CureMD Corporation, McKesson Corporation, Varian Medical Systems, and among others.
Oncology Information System Market Leaders
Elekta AB
CureMD Corporation
McKesson Corporation
Siemens Healthineers AG (Varian Medical Systems)
Oracle Corporation (Cerner Corporation)
*Disclaimer: Major Players sorted in no particular order
Oncology Information System Market News
- May 2022: GE Healthcare entered into an agreement with RaySearch Laboratories AB, a radiation oncology software provider, to develop a new radiation therapy simulation and treatment planning workflow solution designed to simplify how radiation will be targeted to shrink a tumor.
- May 2022: Berry Oncology, a company for genetic testing and early screening of tumors, launched a HIFI system consisting of HIFI-det liquid biopsy technology and the corresponding HIFI-cal series of algorithms.
Oncology Information System Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising incidence of Cancer Worldwide
4.2.2 Growing Government Initiatives for Cancer Awareness
4.3 Market Restraints
4.3.1 High Cost of Cancer Therapies
4.3.2 Dearth of Skilled Professionals
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - in USD Millions)
5.1 By Product & Service
5.1.1 Software
5.1.2 Service
5.2 By Application
5.2.1 Medical Oncology
5.2.2 Radiation Oncology
5.2.3 Surgical Oncology
5.3 By End-User
5.3.1 Hospitals
5.3.2 Research Centers
5.3.3 Specialty Clinics
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Italy
5.4.2.5 Spain
5.4.2.6 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 South Korea
5.4.3.6 Rest of Asia-Pacific
5.4.4 Middle East and Africa
5.4.4.1 GCC
5.4.4.2 South Africa
5.4.4.3 Rest of Middle East and Africa
5.4.5 South America
5.4.5.1 Brazil
5.4.5.2 Argentina
5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Oracle Corporation (Cerner Corporation)
6.1.2 Siemens Healthineers AG (Varian Medical Systems)
6.1.3 Elekta AB
6.1.4 CureMD Corporation
6.1.5 McKesson Corporation
6.1.6 F. Hoffmann-La Roche Ltd (Flatiron Health, Inc.)
6.1.7 Accuray Incorporated
6.1.8 RaySearch Laboratories AB
6.1.9 Optum Inc.
6.1.10 BMSI Partners, Inc.
6.1.11 EndoSoft LLC
6.1.12 MIM Software Inc.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Oncology Information System Industry Segmentation
As per the scope of the report, the oncology information system is used for data management as part of hospital oncology care plans, treatment plans, provision of medication, analysis, and treatment outcomes. Oncology information systems include the exchange of information between both the radiotherapy unit and the healthcare organization.
The oncology information system market is segmented by product & service (software and services), application (medical oncology, radiation oncology, and surgical oncology), end-user (hospitals, research centers, and specialty clinics), and geography (North America, Europe, Asia-Pacific, Middle East, and Africa and South America). The market report also covers the estimated market sizes and trends of 17 countries across major regions globally.
The report offers the value in USD (USD million) for the above segments.
By Product & Service | |
Software | |
Service |
By Application | |
Medical Oncology | |
Radiation Oncology | |
Surgical Oncology |
By End-User | |
Hospitals | |
Research Centers | |
Specialty Clinics |
Geography | ||||||||
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Oncology Information System Market Research FAQs
What is the current Oncology Information System Market size?
The Oncology Information System Market is projected to register a CAGR of 8.5% during the forecast period (2024-2029)
Who are the key players in Oncology Information System Market?
Elekta AB, CureMD Corporation, McKesson Corporation, Siemens Healthineers AG (Varian Medical Systems) and Oracle Corporation (Cerner Corporation) are the major companies operating in the Oncology Information System Market.
Which is the fastest growing region in Oncology Information System Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Oncology Information System Market?
In 2024, the North America accounts for the largest market share in Oncology Information System Market.
What years does this Oncology Information System Market cover?
The report covers the Oncology Information System Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Oncology Information System Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Oncology Information Systems Industry Report
Statistics for the 2024 Oncology Information Systems market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Oncology Information Systems analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.