What Has Been The Historical And Current Growth Of The Oncology Information Systems Market?
The oncology information systems market has seen considerable growth due to a variety of factors.
• The market size of oncology information systems has experienced robust expansion in recent times. The market size is forecasted to advance from $3.05 billion in 2024 to $3.27 billion in 2025, with a compound annual growth rate (CAGR) of 7.3%. Factors contributing to this growth during the historical period include a rise in cancer cases, an increasing focus on precision medicine and value-based care, compliance and reporting mandates, a surge in cancer research and clinical trials, as well as an emphasis on workflow optimization.
What Are The Predictions for The Oncology Information Systems Market By 2029?
The Oncology Information Systems market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the oncology information systems market size is slated to experience significant expansion. Forecasted to reach $4.72 billion by the year 2029 with a 9.6%.
compound annual growth rate (CAGR), its progress during the forecast period is credited to the fusion with genomic data, the application of population health management initiatives, emphasis on cybersecurity within the healthcare sector, the utilization of patient engagement and educational resources, as well as regulatory transitions and health reforms. Predicted trends during the forecast period encompass developments in medical imaging technologies, the integration of electronic health records, the use of artificial intelligence (AI) in oncology, remote monitoring of patients and telemedicine, enhancement of cybersecurity within healthcare, and the coupling with wearable health technologies.
Which Drivers Are Accelerating Growth In The Oncology Information Systems Market?
The escalating worldwide incidence of cancer is envisioned to boost the expansion of the oncology information systems market. The term cancer prevalence signifies the count of individuals surviving with cancer. Data management and patient details are streamlined by the oncology information system, which also keeps track and records various facets of cancer care and manages cancer-related data in hospitals. For instance, as reported by the American Cancer Society, a philanthropic cancer advocacy organization based in the United States, the count of cancer incidences escalated from 1,898,160 in 2021 to 1,958,310 in 2023 in January, indicating an increase of 3.16%. Thus, the escalating worldwide incidence of cancer is steering the expansion of the oncology information systems market.
What Are The Core Segments Of The Global Oncology Information Systems Market?
The oncology information systems market covered in this report is segmented –
1) By Product: Solutions, Professional Services
2) By Application: Medical Oncology, Radiation Oncology, Surgical Oncology
3) By End User: Hospitals And Diagnostic Imaging Centers, Ablation Care Centers And Cancer Care Centers, Government Institutions, Research Facilities
Subsegments:
1) By Solutions: Electronic Health Records (EHR), Treatment Planning Systems, Oncology Data Management Systems, Patient Management Systems, Revenue Cycle Management Solutions, Telemedicine Solutions
2) By Professional Services: Consulting Services, Implementation Services, Training And Support Services, Maintenance And Upgradation Services
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Which Emerging Trends Are Reshaping The Oncology Information Systems Market Size?
Prominent corporations within the oncology information systems market are leveraging collaborations aimed at devising a novel radiation therapy simulation and treatment planning workflow solution. The ultimate goal is to generate customized treatment strategies that can maximize radiation therapy efficiency while reducing its impact on healthy tissues. This collaboration chiefly revolves around formulating a novel solution for radiation therapy simulation and treatment planning workflow, amalgamating RaySearch's RayStation treatment planning system with GE Healthcare's multi-modality imaging systems (CT, MR, and molecular imaging). The aim is to heighten the preciseness and efficacy of cancer treatment. For example, in May 2022, GE HealthCare Technologies, Inc., an American medical technology firm, formed an alliance with RaySearch Laboratories AB, a Swedish company known for offering radiation therapy software. The purpose of this alliance is to concoct a workflow that is both integrated and interoperable, simplifying the simulation process overall. Both GE Healthcare and RaySearch aim to enhance clinical planning and operational results for hospitals and cancer treatment centers.
Who Are the Key Players In The Oncology Information Systems Market?
Major companies operating in the oncology information systems market include:
• Koninklijke Philips NV
• Varian Medical Systems Inc.
• McKesson Corporation
• Siemens Medical Solutions USA Inc.
• Elekta AB
• Cerner Corporation
• Flatiron Health Inc.
• Accuray Incorporated
• CureMD Corporation
• RaySearch Laboratories
• Advanced Data Systems Corporation
• Optum Inc.
• Allscripts Healthcare Solutions Inc.
• Altos Solutions Inc.
• AmerisourceBergen Corporation
• athenahealth Inc.
• Candelis Inc.
• Carestream Health Inc.
• Change Healthcare
• Computer Programs and Systems Inc.
• Epic Systems Corporation
• GE Healthcare
• IBM Corporation.
What Are The Regional Insights Into The Oncology Information Systems Market?
North America was the largest region in the oncology information system market in 2024. Asia-Pacific is expected to be the fastest-growing region in the oncology information system market report during the forecast period. The regions covered in the oncology information systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
