Oncology Information System Market worth $9.5 billion by 2025 - Exclusive Report by MarketsandMarkets™
CHICAGO, Feb. 17, 2021 /PRNewswire/ -- According to the new market research report "Oncology Information System Market by Software (Patient Information System, TPS, RIS, PACS, Services), Application (Medical, Radiation, Surgical Oncology), Enduser (Hospitals, Cancer Care Centers, Government Institution, Academia) - Global Forecast to 2025", published by MarketsandMarkets™, the Oncology Information Systems Market is projected to reach USD 9.5 billion by 2025 from USD 6.7 billion in 2020, at a CAGR of 7.4% during the forecast period.
Browse in-depth TOC on "Oncology Information System Market"
193 – Tables
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The growth of this market is mainly driven by the growing number of hospitals across major markets, increasing awareness about complication related to oncoogy treatment coupled with the increasing adoption of treatment planning systems. Moreover, rising R&D investments by the key players operating in the market to develop advanced oncology information systems coupled with growing funding & grants for commercialization and development of oncology information systems are other important factors to drive the market growth in the near future.
The radiotherapy treatment planing system subsegment of treatment planning systems products to hold major market share by 2025
Based on the product, the oncology information systems market is segmented software, and professional services. The software products segment is further divided into patient information systems, treatment planning systems,and treatment management systems & medical image analysis systems. Among the treatment planning systems products, the radiotherapy treatment planni ng systems segment held a major share of the market in 2019. The increase in the number of research activities focusing on the development of advanced radiotherapy delivery systems is a key factor encouraging the adoption of radiotherapy treatment planning systems. The integration of radiotherapy delivery systems with radiotherapy planning systems is enabling treatment delivery with high precision.
Thus advantages offered by radiotherapy treatment planning software in radiation oncology are a major factor contributing to the growth of this market segment.
Based on application, the radiation oncology segment is expected to account for the largest share of the market in 2019
Based on application, the oncology information systems market has been segmented into theradiation oncology, medical oncology, and surgical oncology. Among these, the radiation oncology sub-segment dominated the market in 2019. The major share of the segment is attributed to the growing number of radiation treated cancer surviors The number of radiation-treated cancer survivors is expected to reach 4.17 million worldwide, by 2030.
The hospital segment is expected to register the highest growth rate during the forecast period
Based on end user, the oncology information systems market has been segmented into the hospitals & diagnostic imaging centers, ablation & cancer care centers, government institutions, and research facilities. Significant market growth and large share of hospitals & diagnostic imaging centers segment can primarily be attributed to the presence of advanced radiology wards in hospitals and the increasing number of ablation and radiosurgery procedures.
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North America is expected to dominate the global oncology information systems market in 2019
North America, comprising the US and Canada, accounted for the largest share of the market in 2019. Increasing number of clinical trials validating oncology information systems and a growing number of approvals for oncology information systems are the major factors driving market growth in North America. Customers in North America are moving towards cancer care centers, which is increasing demand for oncology information systems. This trend will have a positive impact on the market.
Koninklijke Philips N.V. (Netherlands), Varian Medical Systems, Inc (US), McKesson Corporation (US), Siemens Healthineers (Germany), Elekta AB (Sweden), Epic Systems Corporation (US), IBM (US), Cerner Corporation (US), Advanced Data Systems (US), Bogardus Medical Systems, Inc (US), F. Hoffmann-La Roche AG (Switzerland), AmerisourceBergen Corporation (US), GE Healthcare (US), Accuray Incorporated (US), OPTUM (a part of UnitedHealth Group) (US), Allscripts Healthcare Solutions, Inc. (US), MICA Information Systems, Inc. (US), CureMD Healthcare (US), EndoSoft LLC (US), and RaySearch Laboratories AB (Sweden), among others are some of the major players operating in the global oncology information systems market.
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