Oncology Information Systems Market is Anticipated to Grow at an Impressive CAGR During 2022-2028

February 27th,2023/ IndustryNewsGlobal/ -- The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Oncology Information System Market.

Oncology Information System Market report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

Oncology Information System Market was estimated at US$ 2.73 billion in 2021 and is expected to grow at a CAGR of 7.68% during 2022-2028 to reach US$ ~6.66 billion in 2028.

The oncology information systems assist healthcare facilities like hospitals, clinics, and research labs not only in managing and optimising cancer care solutions, but also in the sharing of patient data across organisations to optimise treatment, enhance patient safety, and tailor treatments for each patient to achieve the best results. Governments have been boosting their investments in oncology-related research and development, which is driving the market's expansion. The National Cancer Institute's budget was approved by the US Congress as part of the yearly federal budgeting process in 2022. The total amount was USD 6.9 billion, an increase of USD 353 million from 2021.

Segment Analysis

The market is segmented based on offering, application, end user, and geography. On the basis of offering, the segment is bifurcated into solutions and professional services. The solutions segment is further segmented into patient information system and treatment information system. The solutions segment constituted the greatest portion of worldwide sales in 2021. Owing to the rising acceptance of proper management of radiology imaging by healthcare providers, this category is now leading the market. These products promote direct connection between patients and physicians helping in the collection of cancer patient-reported outcomes.

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On the basis of application, the segment is divided into medical oncology, radiation oncology, and surgical oncology. By giving clinicians complete information about RT and the treatment results whenever necessary for the evaluation process and to improve the treatment quality, OIS makes sure that clinicians provide treatment plans with the right procedures to the right patient, with the right cancer site. The need for treatment planning systems will also increase in the future due to their benefits, which include helping doctors schedule the treatment of varied patients and storing and retrieving vast volumes of data.

Based on end user, the market is divided into hospitals & diagnostic imaging centers, ablation care centers and cancer care centers, research facilities, and others. Over the years, cancer care has advanced significantly. The majority of solid tumours are no longer treated surgically; instead, the ideal method of care is a mix of surgery and multi-modal therapies with a primary focus on radiation, targeted molecular therapies, and chemotherapy. Some operations can be carried out in highly specialised healthcare facilities, including sarcoma surgery, isolated limb perfusion, laparoscopic cancer surgery, and cytoreductive surgery. Consequently, the market is anticipated to rise as surgical therapies for solid tumours become more difficult.

The oncology information systems market is broken down geographically into areas like North America, Europe, Asia-Pacific, and the Rest of the World (RoW). The regional market for North America had the biggest revenue share in 2021. The region's sophisticated healthcare 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 demand 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.

Features of the Report

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.

The Oncology Information System Market analysis report discusses the following heads in great detail:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• COVID-19 Impact Assessment
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

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