The global oncology information systems market Growth Accelerated by Better Treatment Outcomes
Oncology information systems help in streamlining office operations and efficiently manage cancer care. They facilitate electronic health records, computerized physician order entry, and enhanced clinical decision support. Oncology information systems improve the quality of cancer care by providing access to up-to-date clinical information and treatment guidelines. They also help in better treatment planning and reducing medication errors.
The global Oncology Information Systems Market is estimated to be valued at US$ 8.19 Bn in 2024 and is expected to exhibit a CAGR of 5.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Cloud-based oncology information systems are gaining increased acceptance among healthcare providers as they eliminate the need for hardware installation and upfront capital costs for infrastructure. The hosted or cloud deployment model offers advantages such as automatic software updates, scalability, simplified data security & back-up, and reduced IT overhead costs. Leading players are focusing on deploying cloud-based oncology information solutions to benefit from the timely availability of information across different locations, enhanced collaboration between care teams, and streamlined workflows. The growing demand for easy-to-use, flexible, and affordable Oncology IS with advanced analytics is expected to drive the cloud-based deployment market during the forecast period.
Segment Analysis
The global oncology information systems market is dominated by the hospital oncology management information system sub-segment. This is because hospitals provide care to majority of cancer patients and oncology information systems help hospitals in efficient management of clinical, diagnostic, and treatment workflows through integrating data from multiple sources. Additionally, these systems enable hospitals to digitally maintain comprehensive electronic medical records of cancer patients which is useful for monitoring treatment outcomes as well as research.
Key Takeaways
The Global Oncology Information Systems Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The global Oncology Information Systems Market is estimated to be valued at US$ 8.19 Bn in 2024 and is expected to exhibit a CAGR of 5.8% over the forecast period 2023 to 2030.
Regional Analysis: North America holds the largest share of the oncology information systems market currently due to developed healthcare infrastructure and rising incidence of cancer in the region. However, Asia Pacific is expected to grow at the fastest pace owing to increasing healthcare spending, growing awareness regarding importance of cancer treatment management systems, and rising cancer burden in countries like China and India.
Key Players: Key players operating in the oncology information systems market are Varian Medical Systems, Elekta AB, F. Hoffmann-La Roche Ltd, Cerner Corporation, MD Anderson Cancer Center, Accuray Incorporated, Koninklijke Philips N.V, McKesson Corporation, Flatiron Health Inc, and RaySearch Laboratories AB. Varian Medical Systems dominates the market currently due to its wide product portfolio and global presence.
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