Oncology Information System Market Expected to Reach $3,755 Million, Globally, by 2022

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Global Oncology Information System Market: Snapshot

The global oncology information system market has mushroomed steadily out of the rising need to keep track of the various aspects of oncology treatments and the rising use of digital tools in healthcare for the purpose of data storage. Oncology information systems track patient information such as diagnostic details and patient history, as well as treatment patterns and prescriptions. The global oncology information system market is likely to exhibit smooth growth in the coming years due to a number of factors, as witnessed in the strong 7.6% CAGR projected for the market over the 2017-2022 forecast period.

According to Transparency Market Research, the global oncology information system market was valued at US$2,285.6 mn in 2017 and is likely to rise to a valuation of US$3,293.8 mn by 2022.

Patient Information Systems Likely to Dominate Revenue in Oncology Information System Market

The key service types offered in the global oncology information system market are patient information systems, treatment planning systems, consulting services, implementation services, and post-sale and maintenance services. Of these, patient information systems are likely to remain the dominant revenue generator for the global oncology information system market in the coming years.

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The patient information systems segment accounted for 34.8% of the global oncology information system market in 2017, with a valuation of US$794.4 mn. The segment is expected to exhibit a strong 7.1% CAGR over the 2017-2022 forecast period to emerge with a valuation of US$1,117.7 mn by 2022. Nevertheless, the segment’s share in the global oncology information system market is expected to drop slightly to 33.9% over the 2017-2022 forecast period due to the growing demand for treatment planning systems and consulting services.

North America to Dominate Demand from Oncology Information System Market

Geographically, North America is the leading contributor to the global oncology information system market and is likely to retain the position over the 2017-2022 forecast period. The North America oncology information system market was valued at US$933.7 mn in 2017 and is expected to rise to a valuation of US$1,411.5 mn by 2022 at a robust 8.6% CAGR therein. The rising presence of advanced cancer research facilities in North America and the steady acceptance of technological innovations in the healthcare sector is likely to remain a key driver for the North America oncology information system market in the coming years.

Asia Pacific except Japan is likely to emerge as a leading regional entity for the global oncology information system market over the 2017-2022 forecast period, with the regional market expected to gain 100 BPS in its global market share over the period. The APEJ market for oncology information systems is likely to account for more than 16% of the global oncology information system market’s revenue by the end of 2017, enabling smooth growth over the 2017-2022 forecast period.

Hospitals to Remain Leading End User

Hospitals, oncology clinics, and research centers are likely to remain crucial to the global oncology information system market over the coming years, with hospitals set to dominate the demand from the global market.

Competitive Dynamics

Leading players in the global oncology information system market include Accuray Inc., Koninklijke Philips N.V., Cerner Corporation, Mckesson Corporation, Flatiron Health Inc., Raysearch Laboratories, Epic Systems Corporation, Verian Medical Systems Inc., and Elekta AB. The oncology information system market is set to be intensely competitive over the coming years due to the growing commercial promise of the market and the rising prevalence of cancer across the world, which has enabled growing awareness about the utility of oncology information systems.

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