Oncology Information System Market - Growth, Trends, and Forecasts (2020 - 2025)

The major factors attributing to the growth of the oncology information systems market include the rising incidence of cancer cases worldwide. A rise in the geriatric population is also propelling the demand for oncology information systems and driving the market growth.

Owing to the increasing number of specific therapies in the oncology pipeline, the number of late-stage pipeline therapies rose from 711 in 2017 to 849 in 2018 - an increase of 19% and the use of information systems help in managing the data of these therapies between the healthcare organization and treatment providers/patients are boosting the market growth.

There are few more factors which are playing crucial roles in taking the oncology information system market to the next level, among them OIS technological developments, including OIS benefits over traditional record-keeping, and on-going drug developments for new treatments, which are expected to further propel the growth of oncology information system market.

Key Market Trends

Software Segment is Expected to Hold the Largest Market Share in the Oncology Information System Market

The software segment has dominated the market owing to the increase in cancer patients globally and the tests associated with the examination and treatment of cancer patients. As per the statistics from GLOBOCAN 2018, there is an estimated 2,129,118 number of incident cases in the United States, in 2018, which is expected to grow by 2040 and reach a number of 3,096,944 cases. As the number of people with cancer will increase, keeping track of patient data and coordinating treatment plans is challenging for doctors and medical professionals. Softwares of oncology information systems can help medical professionals in keeping the track of all the information related to patient and their treatment. The oncology information system software helps physicians to improve the management of patient information.

North America Dominates the Market and is Expected to do Same in the Forecast Period

North America is expected to dominate the overall oncology information system market, throughout the forecast period. This is owing to factors such as the rising prevalence of cancer and the availability of advanced healthcare infrastructure among the major factors.
In North America region, the United States holds the largest market share owing to the factors such as increasing number of population suffering from cancer, along with the rising geriatric population and developments related to cancer therapy and rising government initiative for the awareness of cancer in the country, is anticipated to further drive the oncology information system market in this region.

Asia Pacific is also anticipated to register the fastest CAGR due to the high prevalence of cancer coupled with government initiatives and expenditure in the healthcare sector.

Competitive Landscape

The oncology information system market is moderately competitive and consists of several major players. In terms of market share, few of the major players are currently dominating the market. And some prominent players are vigorously making acquisitions and joint ventures with the other companies to consolidate their market positions across the globe.

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