SAN FRANCISCO, May 27, 2021 /PRNewswire/ — The global oncology information systems market size is expected to reach USD 4.7 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.5% from 2021 to 2028. The increasing prevalence of cancer and rising product development pertaining to cancer research undertaken by key players are driving the market growth. According to estimates published by GLOBOCAN in 2020, 19.3 million new cancer cases were diagnosed, and 10.0 million cancer-related mortalities were recorded. The growing cancer burden is expected to boost the demand for advanced oncology therapies with accurate and efficient results, thereby aiding the market growth.
Key suggestions from the report:
- The market is expected to witness significant growth over the forecast period owing to various technological advancements in OIS and the increasing prevalence of cancer
- The software segment dominated the market in 2020 owing to the increasing penetration of these software solutions across all healthcare settings including hospitals, ASCs, and cancer research centers and clinics. Additionally, these solutions aid in streamlining the patient management and data management processes
- The medical oncology segment dominated the market in 2020 and is expected to register the highest CAGR among the application segment owing to the increasing adoption of chemotherapy, hormonal therapy, and targeted therapy
- North America dominated the market in 2020 owing to improved healthcare infrastructure and rising product innovation by key players operating in the region
Read 150 page research report with ToC on “Oncology Information Systems Market Size, Share & Trends Analysis Report By Products & Services, By Application (Medical Oncology, Surgical Oncology, Radiation Oncology), By Region, And Segment Forecasts, 2021 – 2028″ at: https://www.grandviewresearch.com/industry-analysis/oncology-information-systems-market
Increasing investment in the field of oncology is one of the key factors expected to boost market growth over the forthcoming years. Market players are collaborating to enhance product development and expand their business footprint. For instance, in 2020 Accuray Inc. collaborated with Brainlab, a German digital surgery company, to expand Accuray’s CyberKnife platform treatment abilities for the neuro-radiosurgery sector. Similarly, in 2020 ViewRay Inc collaborated with VieCure, an AI informatics company, to develop solutions to enhance the adoption of personalized cancer care. These factors are expected to drive the oncology information system (OIS) market growth.
Moreover, key players are focused on developing more advanced OIS with an aim to improve cancer treatment. Companies are either solely or partnering with other key players to accelerate product development. For instance, in April 2019 Accuray Inc launched Synchrony Motion Tracking and Correction technology for its Radixact system. Similarly, in January 2018 Elekta collaborated with IBM Watson Health to develop and improve Elekta’s cancer care systems. In 2020 Varian Medical Systems invested USD 10.0 million in COTA Inc. and entered a strategic collaboration with the company to strengthen its position in the oncology sector. Such initiatives are expected to boost the growth and development of OIS during the forecast period.
Grand View Research, Inc. has segmented the global oncology information systems market on the basis of products and services, applications, and region.
- OIS Products & Services Outlook (Revenue, USD Million, 2016 – 2028)
- Patient Information System
- Treatment Planning System
- Professional Services
- OIS Application Outlook (Revenue, USD Million, 2016 – 2028)
- Medical Oncology
- Radiation Oncology
- Surgical Oncology
- OIS Regional Outlook (Revenue, USD Million, 2016 – 2028)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
List of Key Players of Oncology Information System (OIS) Market
- Elekta AB
- Accuray Incorporated
- Varian Medical Systems
- RaySearch Laboratories
- Cerner Corporation
- Philips Healthcare
- Prowess, Inc.
- DOSIsoft S.A.
- ViewRay Inc.
- MIM Software
- Flatiron Health, Inc.
Find more research reports on Healthcare IT Industry, by Grand View Research:
- Radiation Oncology Market–The global radiation oncology market size was valued at USD 6.8 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 7.0% from 2021 to 2028.
- U.S. Radiation Oncology Market–The U.S. radiation oncology market size was valued at USD 2.6 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 5.0% from 2020 to 2027. One of the major drivers for the market for radiation oncology is the growing adoption of radiotherapy.
- Cancer Immunotherapy Market–The global cancer immunotherapy market size was valued at USD 58.1 Billion in 2018. Growing adoption of advanced cancer therapeutic options coupled with rising cancer incidence has been one of the primary growth stimulants for the market.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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