GVR Report cover Oncology Information Systems Market Size, Share & Trends Report

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

  • Published Date: Apr, 2021
  • Base Year for Estimate: 2020
  • Report ID: GVR-3-68038-036-1
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2019
  • Number of Pages: 150

Report Overview

The global oncology information systems market size was valued at USD 2.6 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 7.5% from 2021 to 2028. The rapid growth of healthcare IT, growing cases of cancer, rising investments in the oncology segment for the treatment and cancer care, and increasing adoption of OIS solutions are among the key factors anticipated to drive the growth of the market. A wide range of novel technologies is being developed, which have the potential to change the treatment regime drastically. The Oncology Information System (OIS) helps organizations and healthcare centers in managing the treatment of cancer. Thus, increasing investments in oncology by governments and well-established market players are expected to drive the market.

U.S. OIS market size, by products & services, 2016 - 2028 (USD Million) 

Furthermore, the growing demand for OIS for streamlining patient and data management is resulting in an increase in the demand for various kinds of software. An increase in investments in cancer research by companies is driving the market. The market for oncology information systems is expected to witness considerable growth in the near future and the companies can invest in the development of new, innovative, and technologically advanced products. The investment at this point of time is recommended because governments of various countries are taking initiatives to increase investment in oncology research. Since oncology is a rapidly growing field, thus increasing investments by various key companies indulged in cancer research along with increasing research and development funding from cancer institutes and research centers has been further driving the market.

Additionally, the introduction of AI in oncology is one of the factors driving the growth of the market for oncology information systems in the future. Systems and software generate high demands in the end-use facilities since it is mostly used by pharmaceutical companies and hospitals. In addition, the key players are introducing many new products in the same but with limited innovations. Hence, investment in research and development to develop products having more features compared to the products in the market might be beneficial for the companies. For instance, in 2020, Varian Medical Systems, Inc. announced an investment of around USD 10.0 million and a strategic collaboration agreement with COTA, Inc., a curator of clinical data in the oncology sector. Both the companies will aim toward empowering cancer clinics with decision support tools, data analytics, and operational decisions.

COVID19 oncology information systems in healthcare market impact: 4.8% increase in market

Pandemic Impact

Post COVID Outlook

The oncology information systems market grew by 4.8% from 2019 to 2020, as per earlier projections the market was expected to be over USD 2.5 Billion in 2020.

The oncology information systems market is estimated to witness a y-o-y growth of approximately 7% in the next 5 years, owing increasing cancer prevalence.

As compared to previous estimates, a new acquisition of oncology information systems has declined in 2020 as healthcare facilities were primarily focused on the treatment of surging COVID-19 patients.

Increasing public and private sector investment on cancer related research & development, which has grown the adoption of digital technology in the market.

Favorable government policy and initiatives supported market growth.

Adoption of technologies, such as virtual communication, virtual care & treatment, remote patient monitoring, and artificial intelligence is estimated to drive adoption.

 

Oncology information systems help in efficiently managing the treatment schedules, treatment delivery, and plans, and further aids in promoting the information flow between the Radiation Therapy (RT) departments and the healthcare companies. These OIS systems also ensure clinicians that they are providing treatment plans with the right procedures to the right patient, with the right cancer site, thereby guaranteeing an effective treatment by providing complete information about radiation therapy and the treatment results to clinicians whenever needed for the evaluation process and to enhance the treatment quality.

Moreover, the demand for treatment planning systems will witness growth in the future owing to its advantages such as storing a large amount of data and retrieving information as and when needed as well as helping doctors in scheduling the treatment of various patients. Companies such as Varian Medical Systems, Elekta AB, and Accuray Incorporated are few big players operating in the market.

Products & Services Insights

In 2020, the software segment dominated the market for oncology information systems and accounted for the largest revenue share of 73.2%. The segment is further anticipated to register the fastest growth during the forecast period. This segment is dominating the market owing to rising adoption by healthcare providers for proper radiology data management. The software helps in capturing cancer patient-reported outcomes and facilitates direct communication with patients and doctors, leading to the growth of this segment. The growth of the software segment can be further attributed to various factors such as the development of more advanced OIS software, which aids in better patient data management and improves cancer treatment. The segment is further categorized into patient information systems and treatment planning systems, wherein the treatment planning systems segment accounted for the largest revenue share in 2020.

However, professional services are being increasingly accepted as most of the hospitals and clinics are outsourcing OIS services due to a lack of skilled professionals in hospitals and clinics. These services provide online consultation and customized schedules and reports, which in turn aids in improving the quality of care.

Application Insights

The medical oncology segment dominated the market for oncology information systems and accounted for the largest revenue share of 61.2% in 2020. The segment is further expected to witness the highest CAGR over the forecast period owing to various factors such as rapid advancements in immunotherapy, hormonal therapy, and targeted therapy for treating various cancers in an effective manner. Moreover, several initiatives pertaining to cancer research are being undertaken by major players, which are further positively influencing the growth of the segment.

Global OIS market share, by application, 2020 (%)

However, the surgical oncology segment is also expected to witness significant growth in the market for oncology information systems during the forecast years. Cancer care has evolved rapidly over the decades. Surgery is no longer the treatment for most solid malignancies, but the combination of surgery and multi-modal therapies mostly focused on radiotherapy, targeted molecular therapies, and chemotherapy is the preferred treatment. Some procedures such as cytoreductive surgery, isolated limb perfusion, laparoscopic cancer surgery, and sarcoma surgery can be performed in highly specialized healthcare centers. Thus, increasing complexity in surgical treatments for solid malignancies is expected to drive the growth of the segment.

Regional Insights

North America dominated the oncology information systems market and accounted for the largest revenue share of 38.7% in 2020. Key factors responsible for this growth include the presence of sophisticated healthcare infrastructure and increasing awareness about patient information management in the region. Moreover, the growing adoption of oncology information systems to track and record treatment results of cancer patients and the rising importance of EMR for making better treatment decisions are some of the key factors boosting the demand for oncology information systems. Moreover, the rising need to manage treatment schedules, dose management, and treatment planning are expected to increase the demand for OIS in this region. Some of the major players operating in North America are Accuray Incorporated; Cerner Corporation; Varian Medical Systems, Inc.; McKesson Corporation; and Epic Systems Corporation.

However, Asian countries are witnessing high demand for oncology information systems and are gradually developing due to increasing awareness of the benefits of the OIS and supportive government policies. This region may serve as a hot revenue pocket for players wishing to tap the potential of this region. Therefore, players wishing to capture a large share in this market must design specific pricing policies and also marketing strategies developed specifically for this region that will help them gain a foothold in these lucrative markets.

Key Companies & Market Share Insights

The key companies are primarily focused on incorporating technological innovation with the introduction of web-based oncology solutions and Artificial Intelligence (AI) based OIS solutions with a goal to enhance the treatment regime, thereby expected to positively impact market growth in the near future. Some of the prominent players in the oncology information system (OIS) market include:

  • Elekta AB

  • Accuray Incorporated

  • Varian Medical Systems

  • RaySearch Laboratories

  • Cerner Corporation

  • BrainLab

  • Philips Healthcare

  • Prowess, Inc.

  • DOSIsoft S.A.

  • ViewRay Inc.

  • MIM Software

  • Flatiron Health, Inc.

Oncology Information Systems Market Report Scope

Report Attribute

Details

Market size value in 2021

USD 2.8 billion

Revenue forecast in 2028

USD 4.7 billion

Growth Rate

CAGR of 7.5% from 2021 to 2028

Base year for estimation

2020

Historical data

2016 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD million and CAGR from 2021 to 2028

Report coverage

Revenue, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product & services, application, region

Regional scope

North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Country scope

U.S.; Canada; U.K.; Germany; Spain; France; Italy;  China; Japan; India; South Korea; Thailand; Brazil; Mexico; Argentina; Colombia; Saudi Arabia; South Africa; UAE

Key companies profiled

Elekta AB; Accuray Incorporated; Varian Medical Systems; RaySearch Laboratories; Cerner Corporation; BrainLab; Philips Healthcare; Prowess, Inc.; DOSIsoft S.A.; ViewRay Inc.; MIM Software; Flatiron Health, Inc.

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options


Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2028. For the purpose of this study, Grand View Research, Inc. has segmented the global oncology information systems market report on the basis of product and services, application, and region:

  • Products & Services Outlook (Revenue, USD Million, 2016 - 2028)

    • Software

      • Patient Information Systems

      • Treatment Planning Systems

    • Professional Services

  • Application Outlook (Revenue, USD Million, 2016 - 2028)

    • Medical Oncology

    • Radiation Oncology

    • Surgical Oncology

  • Regional Outlook (Revenue, USD Million, 2016 - 2028)

    • North America

      • U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

      • France

      • Italy

      • Spain

    • Asia Pacific

      • Japan

      • China

      • India

      • Thailand

      • South Korea

    • Latin America

      • Brazil

      • Mexico

      • Argentina

      • Colombia

    • Middle East & Africa

      • Saudi Arabia

      • South Africa

      • UAE

Frequently Asked Questions About This Report

gvr icn

GET A FREE SAMPLE

gvr icn

This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself...

gvr icn

NEED A CUSTOM REPORT?

We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities.

Contact us now to get our best pricing.

BBB icon D&B icon

We are GDPR and CCPA compliant! Your transaction & personal information is safe and secure.