Global Oncology Information Systems Market Size, Share & Industry Trends Analysis Report By Offering (Solutions and Professional Services), By Application, By Regional Outlook and Forecast, 2022 - 2028
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Market Report Description
The Global Oncology Information Systems Market size is expected to reach $3.4 billion by 2028, rising at a market growth of 7.4% CAGR during the forecast period.
The Oncology Information System assists healthcare facilities like hospitals, clinics, and research labs not only in managing and optimizing cancer care solutions, but also in the sharing of patient data across organizations to optimize treatment, enhance patient safety, and individually tailor treatments for each patient for the best results. Governments have been boosting their investments in oncology-related research and development, which is driving the market's expansion.
One of the most prominent causes of death and disability internationally is cancer. The enormous volume of clinical and non-clinical data associated with cancer patients is managed through oncology information systems. This system facilitates the integration of data during several phases, including screening, prevention, diagnosis, and treatment, among others. In the projected period, factors such as rising OIS solution use and an increase in cancer cases are expected to see a significant rise. For instance, according to the National Cancer Institute, by 2040, it is predicted that there would be 29.5 million more new instances of cancer and 16.4 million more cancer-related deaths annually.
Additionally, the major players are launching new items in the same categories but with few innovations. Therefore, corporations may benefit from investing in R&D to create products with greater features. For instance, COTA, Inc., a curator of clinical data in the cancer industry, and Varian Medical Systems, Inc. announced a strategic collaboration agreement and an investment of about USD 10.0 million in 2020. Both businesses strive to provide a decision support system, data analytics, operational choices, and much more to cancer clinics. OIS supports effective management of treatment plans, schedules, and delivery. It also supports information sharing across Radiation Therapy (RT) units and healthcare organizations.
COVID-19 Impact Analysis
Due to the significant disease burden brought on by the COVID-19 pandemic, the market was negatively impacted. All healthcare systems have changed their priorities to better serve COVID-19 patients. In late 2020, oncology research activity restarted in several regions of the world, which led to a modest increase in demand for software and professional services. The oncology information system market in North America and Europe had significantly recovered by August–September 2020. The APAC market, particularly in China and Korea, was still having trouble. However, the market is likely to recover entirely in the projection term as the growth drivers for the software and services are still intact.
Market Growth Factors
Rising cancer cases across the world
Cancer is the second-leading cause of death, accounting for a sizable portion of all fatalities. Compared to underdeveloped nations, affluent nations have a much higher cancer rate. Due to population expansion, age, and an increase in known risk factors, it is expected that known risk factors would be more prevalent in these underdeveloped countries. Only in industrialized nations is lung cancer the greatest cause of cancer-related death in men, while breast cancer is the main cause of cancer death in underdeveloped nations. Cancer has been associated with spontaneous gene mutations that alter the way the proteins they encode function.
Substantial financial commitment to cancer research
The market of oncology information system is expanding as a result of the increasing incidence of cancer. According to the World Health Organization, cancer was the second-leading cause of death in the world in 2018, accounting for approximately 9.6 million fatalities. A low intake of fruits and vegetables, a high body mass index, cigarette use, and insufficient physical activity, and alcohol consumption are five significant dietary and behavioral hazards that account for approximately one-third of cancer-related fatalities. As a result, numerous organizations are making significant investments in cancer research.
Market Restraining Factors
The absence of qualified professionals
The precision and specificity of tools and procedures are constantly being improved in the interventional oncology sector. But for a technique like interventional oncology, only full-time specialists can achieve and uphold high standards. Therefore, it is anticipated that a lack of trained Oncology Information System operators will hamper the interventional oncology sector. The accessibility of professionals is crucial since interventional oncology demands advanced knowledge to operate for greater efficiency and better results. In developing and underdeveloped areas, this factor will be more significant.
Based on Offering, the market is segmented into Solutions (Patient Information Systems and Treatment Planning Systems) and Professional Services. The professional services segment witnessed a significant revenue share in the oncology information systems market in 2021. Due to a shortage of experienced professionals in clinics and hospitals, professional services are becoming more widely recognized. These services offer online consultations as well as personalized schedules and reports, both of which help to raise the standard of care.
Based on Application, the market is segmented into Medical Oncology, Radiation Oncology, and Surgical Oncology. The medical oncology segment garnered the highest revenue share in the oncology information systems market in 2021. Due to the quick improvements in targeted therapy, hormone therapy, and immunotherapy for the efficient treatment of many malignancies. Major players are also undertaking several efforts related to cancer research, which is further boosting the market's expansion.
|Market size value in 2021||USD 2.1 Billion|
|Market size forecast in 2028||USD 3.4 Billion|
|Historical Period||2018 to 2020|
|Forecast Period||2022 to 2028|
|Revenue Growth Rate||CAGR of 7.4% from 2022 to 2028|
|Number of Pages||212|
|Number of Tables||333|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling|
|Segments covered||Offering, Application, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. The North America region acquired the largest revenue share in the oncology information systems market in 2021. The region's enhanced medical infrastructure and growing understanding of patient information management are two important drivers of this progress. Additionally, the expanding use of OIS to monitor and record cancer patients' treatment outcomes and the increasing use of EMR for improving treatment decisions are anticipated to promote regional market expansion. The need for OIS in this region is also anticipated to rise because to the increasing requirement for dose management, treatment planning, and management of treatment schedules.
Free Valuable Insights: Global Oncology Information Systems Market size to reach USD 3.4 Billion by 2028
KBV Cardinal Matrix - Oncology Information Systems Market Competition Analysis
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Cerner Corp. (Oracle Corporation) are the forerunners in the Oncology Information Systems Market. Companies such as Koninklijke Philips N.V. (Philips Healthcare), Varian Medical Systems (Siemens Healthineers), Elekta AB are some of the key innovators in the Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Oracle Corporation (Cerner Corporation), Koninklijke Philips N.V., Varian Medical Systems, Inc. (Siemens Healthineers), ViewRay, Inc., Accuray, Incorporated, Elekta AB, RaySearch Laboratories AB (Nasdaq, Inc.), Brainlab AG, DOSIsoft SA (Institut de cancérologie Gustave Roussy), and MIM Software Inc.
Recent Strategies Deployed in Ultra-Mobile Devices Market
» Partnerships, Collaborations and Agreements:
- May-2022: Cerner Corporation partnered with Elligo Health Research, a healthcare-enabling research enterprise. This collaboration would enable a clinical trial through Cerner’s Learning Health Network to assist in promoting the early discovery of cancer. Moreover, The companies would utilize the real-world data, research-activated network of health systems, and Freenome’s multiomics technology to accelerate early cancer diagnosis.
- May-2022: RaySearch Laboratories joined hands with GE Healthcare, a supreme global medical technology, diagnostics, and digital solutions enterprise. Through this collaboration, the companies aimed to design a new radiation treatment simulation and therapy planning workflow solution, prepared to utilize the latest advances in treatment planning technology. Additionally, the companies aimed to integrate RaySearch's advanced treatment planning system RayStation within GE Healthcare's leading multi-modality simulator techniques to make cancer therapy quick and more accurate.
- May-2022: Kaiku Health subsidiary of Elekta came into a partnership with Roche, a leading global healthcare organization. Together, the companies aimed to implement digital devices to deliver real-time symptom management by Health Care Providers and patients, enhance patient support, and supply customized cancer care to cancer patients and clinics across the world.
- May-2022: Elekta formed a partnership with Netherlands Cancer Institute, a leading Dutch complete cancer center. Through this partnership, the companies aimed to deliver cutting-edge cancer remedy to patients and to cooperate on designing the next era of radiation treatment solutions. Additionally, both companies would together shape the future of radiation treatment through research and product development concerns.
- Apr-2022: Varian came into a partnership with Icon Group, an international leader in various commercializations for the health sector. With this partnership, companies would cooperate on new techniques and knowledge in radiation treatment to offer patient-centric solutions and boost the growth of market-ready products.
- Apr-2022: Elekta joined hands with GE Healthcare, a leading global medical technology, pharmaceutical diagnostics, and digital solutions. Under this collaboration, the companies aimed to allow providing hospitals with a complete portfolio across imaging and treatment for cancer patients directing radiation treatment. Moreover, Elekta and GE Healthcare focused on completing the essential requirement for radiotherapy solutions across both developing and developed industries.
- Oct-2021: Accuray Incorporated signed an agreement with Accuray Incorporated to improve the Accuray Radixact System's capabilities to cure breast cancer. Together, the companies would partner to supply consumers with a solution for deep inspiration breath hold utilizing the C-RAD Catalyst+ HD and Radixact System.
- Jun-2021: Elekta signed an agreement with Royal Philips, a Dutch multinational conglomerate corporation. Through this agreement, the companies aimed to exacerbate their current strategic partnership to offer complete and customized cancer care through accuracy oncology solutions. Additionally, with the cross-offering collaboration, the companies would leverage addition abilities to further enhance patient healthcare.
- Apr-2021: RaySearch Laboratories extended its partnership with Canon Medical Systems, provides a full range of diagnostic medical imaging solutions. This extended partnership would allow RaySearch’s U.S. salesforce to circulate Canon Medical’s Aquilion Large Bore CT and Celesteion PET/CT products. In Addition, the companies would deliver a combined radiation oncology offering to more U.S. consumers to improve the cure for cancer patients.
- Apr-2021: Varian joined hands with Google Cloud, a suite of cloud computing services. Together, the companies aimed to launch deployment journey, utilizing Neural Architecture Search technology through Google Cloud AI Platform, to develop AI models for organ classification, a critical and labor-intensive move in radiation oncology that can be a backup in the cancer therapy clinical functionality.
- Nov-2020: Varian teamed up with COTA, a Boston-based curator of clinical data in oncology. Together, the companies aimed to authorize cancer hospitals with decision support and data analytics tools, utilizing real-world proof to assist guide clinical and operational conclusions along with driving more economical supervision. Additionally, COTA would permit Varian form better Intelligent Cancer Care equipments for decision asset using real-world proof.
- Jun-2020: Royal Philips joined hands with Texas MD Anderson Cancer Center, a comprehensive cancer center. This collaboration would provide oncologists worldwide with proff based cancer treatment guidance and clinical trials knowledge based on a patient’s genomic profile through Philips’ oncology informatics platform hooked into the Precision Oncology Decision Support system at MD Anderson. Furthermore, It delivers doctors with a checklist of authorized treatments and checks the patient to available clinical tests based on the hereditary profile of
- May-2020: Varian partnered with National University Cancer Institute, a national proficient center under the National University Health System. Together, the entities aimed to develop permit to cancer solutions within Singapore in the fight against cancer. In Addition, this partnership would bring superior quality radiation treatment integrated with corresponding cancer care solutions.
- May-2020: RaySearch Laboratories AB signed an interoperability agreement with Varian Medical Systems, an American radiation oncology treatments, and software designer. This agreement would enable the RayCare oncology information system to join with Varian TrueBeam linear accelerators. In Addition, a reliable interface has been developed which allows Varian TrueBeam and RayCare to transmit the data required for an combined workflow.
» Product Launches and Product Expansions:
- Jun-2022: RaySearch Laboratories introduced RayCare 6A, a new version of RayCare. The new version adjoin crucial improvements to all main areas of the product, and presents improved connectivity with other hospital information systems, enhancing outpour of data between systems. Additionally, the RayCare 6A also delivers enhanced connectivity and option for seamless combination to different hospital information systems by the inclusion of exterior interfaces for transmitting and receiving treatment.
- Oct-2021: Cerner unveiled Cerner EnvizaSM, a new functioning unit. The new Cerner EnvizaSM delivers research services and data-driven solutions to assist in providing transparency to multi-dimensional data through real-world insights and proof. Additionally, the new feature boost the development, discovery, and delivery of unique insights and treatments to enhance daily health for people across the world.
» Acquisitions and Mergers:
- Nov-2021: Royal Philips signed an agreement to acquire Cardiologs, a France-based medical technology corporation. This acquisition would reinforce Philips’ cardiac diagnostics and monitoring portfolio with electrocardiogram analysis, creative software technology, and reporting services.
- Apr-2021: Cerner Corporation completed the acquisition of Kantar Health, a unit of Kantar Group. Through this acquisition, Kantar Health’s rich life sciences expertise would be integrated within Cerner’s robust collection of real-world data and technology to propel creation in life sciences research and enhance patient effects across the world. Additionally, the highly skilled groups at Kantar Health would convey a deep insight of the essentials in the life sciences and pharmaceutical sectors.
- Mar-2021: Brainlab took over Mint Medical, a Heidelberg-based company that produces image reading and reporting software for clinical research and routine. With this acquisition, Brainlab emphasizes the importance of digital health and focused on enhancing the structured detection , analysis, and therapy of cancer and further diseases to manage the needs of advance medicine and customized therapies.
- May-2020: Elekta completed the acquisition of Kaiku Health, a Helsinki-based startup. This acquisition would enable patients to track manifestation over a period and can alert physicians or researchers with updates, which would be combined into Elekta’s Mosaiq Oncology Information System.
Scope of the Study
Market Segments Covered in the Report:
- Patient Information Systems
- Treatment Planning Systems
- Professional Services
- Medical Oncology
- Radiation Oncology
- Surgical Oncology
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Oracle Corporation (Cerner Corporation)
- Koninklijke Philips N.V.
- Varian Medical Systems, Inc. (Siemens Healthineers)
- ViewRay, Inc.
- Accuray, Incorporated
- Elekta AB
- RaySearch Laboratories AB (Nasdaq, Inc.)
- Brainlab AG
- DOSIsoft SA (Institut de cancérologie Gustave Roussy)
- MIM Software Inc.
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