Exploring the Dynamics and Future Growth Prospects of Global Oncology Information Systems Market 2024 | Flatiron Health

oncology information systems market size is expected to reach US$ 13.85 Bn by 2030, from US$ 8.19 Bn in 2023, at a CAGR of 7.8% during the forecast period.

BURLINGAME, CALIFORNIA , UNITED STATES, May 21, 2024 /EINPresswire.com/ -- Market Overview:

Oncology information systems are software solutions that help in maintaining electronic health records of oncology patients, scheduling appointments, tracking treatment plans, patient outcomes and costs. They provide data analytics and help medical professionals in clinical decision making.

Market Dynamics:

Rise in cancer incidence rates globally is expected to drive the demand for oncology information systems. According to the World Health Organization (WHO), cancer is the second leading cause of death worldwide and was responsible for nearly 10 million deaths in 2020. The growth in cancer cases has increased the workload on healthcare providers and created need for integrated oncology information systems for better management of patient health records and care. These systems allow exchange of critical patient information between healthcare teams and facilities, improving efficiency of cancer treatment. Furthermore, they help in reducing medical errors and treatment costs by aiding clinical decision making through analytics of large patient data sets. This is expected to significantly contribute to the market growth over the forecast period.

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List of TOP Players in Market Report are: –

◘ Cerner Corporation
◘ Elekta
◘ Accuray
◘ RaySearch Laboratories
◘ Flatiron Health
◘ Koninklijke Philips N.V.
◘ McKesson Corporation
◘ Epic Systems Corporation
◘ CureMD
◘ Varian Medical Systems Inc., Brainlab, Siemens Healthcare Private Limited, Oracle, and Karkinos Healthcare Private Limited

Note: Major Players are sorted in no particular order.

Market Detailed Segmentation:

By Type: Patient Information Systems, Treatment Planning Systems, Task & Workflow Management Systems, Clinical Trial Management Systems, Others (Dose Calculation Systems, etc.)
By Application: Radiation Oncology, Medical Oncology, Surgical Oncology
By End User: Oncology Centers, Hospitals & Clinics, Diagnostic Laboratories, Physician Offices, Others (Research Centers, etc.)

Growing adoption of various technologies in the healthcare sector is driving the global oncology information systems market

The healthcare industry is increasingly adopting various digital technologies like artificial intelligence, machine learning, big data analytics etc. to improve efficiency and provide better patient care. Oncology information systems allow healthcare providers to digitally manage complex patient data related to cancer treatment. This helps in maintaining accurate electronic health records, treatment plans, radiology images etc. of cancer patients in one centralized system. This has significantly improved healthcare delivery and monitoring of cancer patients. Many hospitals and oncology clinics are now implementing such integrated software solutions to gain benefits like improved treatment planning and outcomes, better collaboration between medical staff, reduced medical errors etc. According to studies, use of oncology information systems can boost practice revenue by around 15-20% by increasing clinical documentation and coding. Growing need for integrated healthcare delivery and technological advancements are major factors propelling the adoption of oncology information systems worldwide.

Needing healthcare IT infrastructure upgrade is a major challenge faced by some healthcare providers

While digital transformation of the healthcare sector provides numerous advantages, many smaller hospitals and clinics still lack adequate investment in healthcare IT infrastructure. Upgrading existing legacy systems or implementing new advanced oncology information systems require significant capital expenditure which may not be feasible for all providers. This poses a major challenge, especially for those located in developing regions with limited budgets for healthcare IT. High initial costs associated with purchasing licenses, installing and integrating new software solutions, along with ongoing maintenance costs can be a deterrent. Lack of in-house IT expertise is another concern for smooth implementation and management of such complex systems. This infrastructure gap negatively impacts wider adoption of oncology information systems in some parts of the world. However, growing support from governments and vendors offering flexible payment and deployment models is helping to address this challenge to some extent.

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Opportunity for software vendors to offer comprehensive cloud-based oncology solutions

With the digital transformation of the healthcare industry, there is a growing demand for flexible, scalable and cost-effective cloud-based solutions. Cloud platforms have tremendous potential to overcome infrastructure barriers faced by some healthcare providers. They allow universal access to advanced oncology information systems without large upfront capital investments. Vendors can leverage cloud infrastructure to develop and deliver comprehensive software-as-a-service (SaaS) offerings targeted at both large hospitals as well as small/independent oncology practices. Web/mobile-based clinical solutions hosted on the cloud give remote access to patient data from any location. This helps enable better collaboration between multidisciplinary cancer care teams. There is huge scope for software vendors to offer pay-per-use subscription models and tailor-made cloud packages as per client needs and budgets. With advantages like easy integration, automatic updates and reduced IT support requirements, cloud-hosted oncology solutions are expected to witness faster adoption rates globally in the coming years.

Growing incidence of cancer cases worldwide is driving increased demand for more advanced oncology information systems

According to global cancer statistics, cancer burden is steadily increasing worldwide with over 19 million new cases reported annually. Various factors like growing elderly population, lifestyle changes, environmental pollutants etc. have contributed to rising cancer prevalence globally. Developing countries are expected to account for around 70% of the world's cancer cases in the coming decades. This rising disease load has created increased demand for more advanced healthcare IT solutions across the oncology care continuum, from cancer screening and clinical decision support to survivorship management. Newer features like population health analytics, precision medicine tools, genomics data integration etc. are being incorporated in leading oncology information systems. Vendors are also focusing on upgrading systems with improved clinical workflows, more intuitive interfaces, enhanced interoperability capabilities and predictive analytics. Such data-driven innovations are aimed at facilitating more personalized cancer care approaches and accurate monitoring of outcomes at a population level. The growing cancer caseload underscores the need for healthcare providers to adopt comprehensive oncology information systems to efficiently manage the increasing volume and complexity of oncology patient data.

Furthermore, the years considered for the study are as follows:

Historical data - 2016-2022
The base year for estimation - is 2022
Estimated Year - 2024
Forecast period** - 2024 to 2031

This Global Oncology Information Systems Market Research/Analysis Report Contains Answers to your following Questions:

◈What are the current global trends in the Global Oncology Information Systems market, and will the market experience an increase or decrease in demand in the upcoming years?

◈ What is the expected demand for various product types within the Global Oncology Information Systems market, and what are the emerging Market applications and trends?

◈ What are the projections for the global Global Oncology Information Systems Market in terms of capacity, production, production value, cost, profit, market share, supply, consumption, import, and export?

◈ How will strategic developments shape the Market trajectory in the medium to long term?

◈ What factors contribute to the final price of Global Oncology Information Systems , and what are the raw materials used in its manufacturing?

◈ What is the market's growth potential, particularly with the increasing adoption of Global Oncology Information Systems in mining?

◈ What is the current and 2022 value of the global market, and who are the leading companies in this market?

◈ What recent Market trends can be leveraged to create additional revenue streams?

◈ What entry strategies, economic impact mitigation measures, and marketing channels should be considered for the Global Oncology Information Systems Market?

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Summarized Extracts from TOC of Market Study

Chapter 1 Global Oncology Information Systems Introduction and Market Overview

1.1 Objectives of the Study

1.2 Overview of Global Oncology Information Systems

1.3 Scope of The Study

1.3.1 Key Market Segments

1.3.2 Players Covered

1.3.3 COVID-19’s impact on the Global Oncology Information Systems industry

1.4 Methodology of The Study

1.5 Research Data Source

Chapter 2 Executive Summary

Chapter 3 Industry Chain Analysis

Chapter 4 Market, by Type

Chapter 5 Market, by Application

Chapter 6 Market Analysis by Regions

Chapter 7 North America Market Analysis by Countries

Chapter 8 Europe Global Oncology Information Systems Market Analysis by Countries

Chapter 9 Asia Pacific Global Oncology Information Systems Market Analysis by Countries

Chapter 10 Middle East and Africa Global Oncology Information Systems Market Analysis by Countries

Chapter 11 South America Global Oncology Information Systems Market Analysis by Countries

Chapter 12 Competitive Landscape

Chapter 13 Industry Outlook

Chapter 14 Market Forecast

Chapter 15 New Project Feasibility Analysis

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