Meticulous Research®—a premier global market research firm—has unveiled its latest report titled, Oncology Information Systems Market by Offering (Software {Patient Information, Treatment Planning}, Services), Application (Medical, Surgical, Radiology Oncology), End User (Hospital, Diagnostic Imaging Center, Cancer Care Center) - Global Forecast to 2030.
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Market Growth Projections
The report highlights that the oncology information systems market is projected to reach $4.45 billion by 2030, growing at a compound annual growth rate (CAGR) of 7.4% from 2023 to 2030. Key drivers of this growth include the escalating prevalence of cancer, increased digitalization in cancer treatment, the pressing need to reduce oncology care costs, widespread adoption of electronic health records (EHR), and a rising demand for efficient patient information and data management. Additionally, the integration of precision medicine in cancer treatment, particularly in emerging markets, is expected to create significant growth opportunities.
Market Challenges
Despite the promising growth, the market faces challenges such as the high cost of oncology information systems and concerns over data security and privacy. Other barriers include obstacles to adoption and implementation, alongside the necessity for extensive training and education on these systems.
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Key Market Players : Prominent players in the oncology information systems market include:
Accuray Incorporated (U.S.), Brainlab AG (Germany), DOSIsoft SA (France), Elekta AB (Sweden)
Koninklijke Philips N.V. (Netherlands), MIM Software Inc. (U.S.), Oracle Corporation (U.S.), Prowess Inc. (U.S.), RaySearch Laboratories (Sweden) , Siemens Healthcare GmbH (Germany),
McKesson Corporation (U.S.), Altai, Inc. (Turkey), ViewRay Inc. (U.S.)
Market Segmentation and Outlook
The oncology information systems market is segmented by offering, application, end user, and geography.
Offering: The software segment is anticipated to hold the largest market share in 2023, driven by the high adoption rate of software solutions in hospitals, the increasing need for cancer data management, and the optimization benefits in treatment planning and delivery.
Application: Medical oncology is expected to dominate the application segment in 2023, owing to a substantial patient population and the advantages of oncology information systems in managing clinical, administrative, and departmental activities.
End User: Hospitals are projected to account for the largest market share by end user in 2023, attributed to the rising adoption of digital solutions, growing awareness among healthcare professionals, and an increasing patient base.
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Geographic Analysis
The report provides an extensive analysis of the market across major regions, including:
North America: Expected to hold the largest market share in 2023, driven by advanced healthcare infrastructure, high acceptance of advanced technologies, and a significant number of cancer patients.
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