Market propositions for oncology information systems stemmed from the role of electronic health records has begun to occupy in improving effectiveness of practice standards in cancer care. Health care providers, system administrators, and patients pin tall hopes on oncology information systems to address the wide variation of practice standards. They are gradually leveraging the potential of these systems for improving outcomes assessment. The adoption of such information systems to keep track of ever rising volumes of clinical and patient data in cancer care is a key trend shaping evolution of oncology information system (OIS) market.
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Focus on Patient-centered Care in Oncology Bolstering Prospects of OIS
Growing role of oncology information systems in supportive care options is expected to expand horizon of the oncology information system market. Advances in data mining technologies are helping proponents broaden their scope consistently. With patient-centered care in oncology gathering momentum, the oncology information system market is expected to see new investments from players, note the analysts at Transparency Market Research (TMR). Increasing integration of health information technology in the overall healthcare systems is helping stakeholders understand complexities of treatment in oncology information systems. Over the years, research in cancer care in developing and developed regions have unrivalled complexity in cancer care, as the practice are increasingly varied.
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Growing realization about the benefits of oncology information systems across national, regional, and local health care authorities is boosting the oncology information system market. A collaborative information-sharing strategy is crucial for them to adopt a patient centric cancer care. Canada, the U.K., the U.S, and Germany are showing stupendous growth in the oncology information system market.
The global oncology information systems market is anticipated to rise at 7.6% CAGR during 2017 - 2022. In 2017, the market stood at US$2,285.6 million and by the end of this period, the market is expected to reach worth of US$3,293.8 million.
Institutionalized healthcare providers are increasingly taking intense interest in patient-centered care, thereby opening investment avenues in oncology information system market.
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Asia Pacific with Incredible Opportunities
Among the various regions, the oncology information system market has been witnessing new opportunities in Asia Pacific. On the other hand, the dominant regional market of North America is expected to continue witness considerable advancements in cancer information systems. The regional market is expected to witness worth of US$1,411.5 mn by 2022-end. Another key region standing as a prominent revenue generator is Europe.
However, it is Asia Pacific which presence incredible scope of new opportunities. Research in practice pattern variation in oncology by numerous cancer companies is fueling strides in the regional market. Growing adoption of treatment planning systems is boosting the market.
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Increasing Collaboration Among Various Players Pave Way to New Implementation Approaches
Increasing collaboration among various players have led to the advent of new implementation approaches. These players are investing sizable amount in developing technologically advanced cancer care for patients and clinicians. On the other hand, strategic collaborations, deals, and new partnerships have kicked in. Top players are increasingly putting hopes on these to consolidate their positions in the oncology information system market. Collaborative between medical and radiation oncology solution providers is expected to expand the horizon in the oncology information system market.
Some of the key players in the oncology information system market are Epic Systems Corporation, Elekta AB, Varian Medical Systems Inc., Flatiron Health Inc., Accuray Inc., Raysearch Laboratories, Mckesson Corporation, and Cerner Corporation.
The study presented here is based on a report by Transparency Market Research (TMR) titled “Oncology Information System Market (Type - Patient Information Systems, Treatment Planning Systems, Consulting Services, Implementation Services, Post-sale and Maintenance Services; Application - Medical, Surgical, Radiation; End Use - Hospitals, Oncology Clinics, Government Institutions, Research Centers) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2022”
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