North America is expected to command the largest share of the oncology information systems market.
Northbrook, IL 60062 -- (SBWIRE) -- 05/10/2022 -- MarketsandMarkets™ Research Report's View on Revenue Impact?
The Oncology Information System Market is projected to reach USD 9.5 billion by 2025, at a CAGR of 7.4% during the forecast period
Factors Responsible for Growth and In-Depth Analysis?
The Usage of blockchain technology in oncology information systems is a key trend for a medical ecosystem in cancer care, resulting in the elimination for the paper based records and treatment plans thus, it is the key factors supporting the growth of oncology information systems market.
The Major product manufacturers are undertaking strategic initiatives to increase their brand visibility and product awareness among key end users (such as medical professionals, patients, and oncologist) across major healthcare markets worldwide. Company operating in oncology information systems market are opting for hybrid distribution strategy as per which distribution takes place both by distribution channel and through partnership with global OIS vendors. Oncology information systems company has also adopted consignment model, according to which company places the tretament planning systems along with tretament delivery systems its customers and sales are made according to the implementation of medical devices. Such initiatives undertaken by major product manufacturers are expected to increase their brand awareness among target end-users as well as sensitize them about their role in preventive cancer care.
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Leading Key Players and Analysis:
The major players in the oncology information systems market are 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.
Geographical Analysis in Detailed?
The report covers the oncology information systems market across five major geographies, namely, Europe, North America, Asia Pacific, Latin America, and MEA. North America commanded the largest share of the oncology information systems market in 2019. The increasing R&D to develop patient centeric oncology information systems, rising prevalence of cancer, technological advancements in oncology information systems products and procedures are the key factors supporting market growth in North America.
Moreover, most of the prominent companies in the global market are headquartered in the region or have a strong presence in this market, such as Varian Medical Systems, Inc (US), Accuray Incorporated (US), McKesson Corporation (US), and GE Healthcare (US) Others have focused on expansion to increase their reach and capabilities. This is another key factor attributed to the prominent growth of the market.
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The radiation oncology products segment dominated the global oncology information systems market.
Based on the application, the oncology information systems market is segmented into radiation oncology, medical oncology and surgical oncology. The radiation oncology segment accounted for a larger share of in the market in 2019. The increasing installation base for radiotherapy devices, growing number of radiosurgery procedures related to fractures, rapid growth in the cancer affected population across the globe, and the development of advanced radiology information systems and radiation treatment planning systems are factors expected to drive the growth of this market segment in the coming years.
The hospital segment accounted for the largest share of the oncology information systems market.
Based on application, the oncology information systems market has been segmented into the hospitals & diagnostic imaging centers, ablation & cancer care centers, government institutions, and research facilities. Among these, the hospitals & diagnostic imaging centers segment accounted for the largest share of the market in 2019. The large share of this segment is attributed to the large target patient population base (especially in emerging countries) preferring hospitals, the growing procedural volume in hospital settings, rising emphasis on effective and early disease diagnosis in hospital, and the high budget of hospitals for introducing various technologically advanced oncology information systems products.
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