Global Oncology Information Systems Market Expected to Reach USD 4569 Million by 2025

The global oncology information systems market was valued at USD 2622 million in 2017 and is projected to reach USD 4569 million by 2025, growing at a CAGR of 7.1 percent from 2018 to 2025. The diabetes segment accounted for one-fifth share of the total market in 2017. The benefits of implementing oncology information systems over conventional methods of record keeping and treatment planning are expected to boost the growth of the oncology information systems market. The advantages of oncology information systems such as planned treatment, future-proofing, and remote access are expected to increase the demand for these systems and motivate the government organizations to upgrade their procedure from paper-based systems to paperless systems. Furthermore, the increase in disposable income among cancer patients, surge in prevalence of cancer cases, and technological advancements in these systems, such as incorporation of patient portals, are anticipated to fuel the market growth. Rise in healthcare expenditure in developing countries, such as India and China, advancement in software using artificial intelligence, and use of oncology information systems to treat rare cancers are expected to present multiple opportunities for market growth. However, this growth is restricted owing to lack of healthcare IT professionals and high capital costs associated with oncology information systems.

Among the product & service segment, software for patient information system was the largest revenue contributor in 2017 toward market growth, and is anticipated to remain dominant in the future. The patient information system software segment is anticipated to reach USD 2855.4 million by 2025, registering a CAGR of 6.8 percent. Advantages of using these systems as compared to conventional record maintenance methods such as planned treatment and remote access due to digital availability are expected to boost the growth of this segment. Medical oncology dominates the global oncology information systems market, accounting for USD 1153.5 million in 2017, and is anticipated to reach USD 2106.1 million by 2025, registering a CAGR of 7.7 percent. In medical oncology, the oncology information system (OIS) software manages, interprets, analyzes, and stores the patient information efficiently. In addition, as the software assists to predict the treatment outcome for patients, it helps to improve the survival rate of the patient and drives the growth of the oncology information systems market.

Key findings of the oncology information systems market

• The service segment accounted for one-fifth share of the total market and is expected to register a CAGR of 6.9 percent.
• Based on service, the implementation service segment accounted for about one-fourth share of the global market and is expected to register a high CAGR of 7.1 percent.
• US dominated the North America oncology information systems market and is projected to retain this trend.
• China is expected to exhibit the highest growth in the Asia-Pacific oncology information systems market, registering a CAGR of 14.1 percent.
• Saudi Arabia is expected to witness the highest growth in the LAMEA oncology information systems market, growing at a CAGR of 9.0 percent.

In 2017, North America was the highest contributor to the market in terms of revenue, owing to increase in cancer cases and the need for such information systems. However, Asia-Pacific is expected to witness the highest CAGR, owing to the presence of high populace countries such as India and China. – Allied Market Research