Oncology Information Systems Market to Reach Valuation of USD 5.53 Billion at 6% CAGR from 2024-2030
oncology-information-system-market
PORTLAND, OREGON, UNITED STATES, June 21, 2024 /EINPresswire.com/ -- As per the report published by Allied Market Research, the global oncology information system market1 generated $3.08 billion in 2020, and is expected to reach $5.53 billion by 2030, registering a CAGR of 6.0% from 2021 to 2030.
Rise in prevalence of cancer cases and various treatment patterns coupled with availability of several OIS with improved features have boosted the growth of the global oncology information system market. However, high cost associated with the system and lack of trained workforce for handling healthcare management and information technology systems hinder the market growth. On the contrary, surge in use of artificial intelligence and development of plethora of products would open new opportunities in the future.
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The growth of the global OIS market is attributed to rise in cancer cases and increase in adoption of technologically advanced treatments. Moreover, increase in healthcare expenditure and rise in disposable income are expected to drive the market growth during the forecast period.
The benefits of implementing OIS over conventional methods of record keeping and treatment planning are expected to boost the growth of the oncology information systems market. The advantages of OIS such as planned treatment, future-proofing, and remote access are expected to increase the demand for these systems and motivate the government organizations to upgrade their procedure from paper-based systems to paperless systems.
Key Takeaways:
By product & services, services segment was the highest contributor to the market in 2020.
As per application, medical oncology segment was the highest contributor to the market in 2020.
According to end user, hospitals & oncology clinics segment was the highest contributor to the market in 2020.
Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.
The major factor that drives the OIS market is surge in the cancer cases. According to the World Health Organization (WHO), cancer is a leading cause of death across the globe, and approximately 70% of deaths due to cancer occur in low and middle income countries. By 2040, the number of new cancer cases per year are expected to rise to 29.5 million and the number of cancer-related deaths are expected to be 16.4 million. Thus, rise in prevalence of cancer is anticipated to drive the oncology information systems market.
On the basis of application, the medical oncology segment is projected to manifest the highest CAGR of 6.6% during the forecast period. Furthermore, the segment held the lion’s share in 2020, accounting for more than two-fifths of the market.
The report offers an analysis of the global oncology information system market across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America dominated in 2020, holding more than one-third of the market. However, the market across Asia-Pacific is projected to showcase the highest CAGR of 7.4% during the forecast period.
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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 2021 to 2030 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:
Software:-
Patient Information Systems
Treatment Planning Systems
Services:-
Consulting Services
Implementation Services
Maintenance Services
By APPLICATION:
Radiation Oncology
Medical Oncology
Surgical Oncology
By END USER:
Hospitals & Oncology Clinics
Research Centers
By Region:
North America (U.S., Canada, Mexico)
Europe (UK, Germany, France, Italy, Rest of Europe)
Asia-Pacific (China, Japan, India, Australia, Rest of Asia-Pacific)
LAMEA (Brazil, South Africa, Turkey, Saudi Arabia, Rest of LAMEA)
Key Market Players:
Koninklijke Philips N.V., CureMD Corporation, Nasdaq Inc. (RaySearch Laboratories AB), Elekta AB, BMSI Partners Inc., (Bogardus Medical Systems, Inc.), Cerner Corporation, Siemens AG (Siemens Healthnieers), F. Hoffmann LA Roche AG (Flatiron Health, Inc.), Accuray Incorporated, McKesson Corporation
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
David Correa
Allied Market Research
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