February 19, 2025
Oncology Information Systems Market

Advancements In Oncology Informatics To Drive Growth Of The Global Oncology Information Systems Market

The global Oncology Information Systems Market is estimated to be valued at US$ 8.19 Bn in 2023 and is expected to exhibit a CAGR of 7.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

An oncology information system (OIS) is a software system designed to manage medical and clinical oncology data. It is used in oncology practices, cancer clinics, radiation oncology centers, medical oncology centers and surgical oncology centers for the purpose of data capture, data storage, treatment planning, order entry management, integrated treatment planning and results management. An OIS enables healthcare providers to manage health records of cancer patients and supports clinical workflows for early detection, diagnosis and treatment of cancer. It maintains accurate and complete medical records of all cancer patients for supporting clinical decisions. OIS also helps in management of cancer registry data for public health monitoring and cancer research.

Market key trends:

Growing prevalence of cancer globally is expected to drive the adoption of oncology information systems. According to the World Health Organization, cancer is among the leading cause of death worldwide. In 2018, around 9.6 million deaths occurred due to cancer. Implementation of oncology information system helps healthcare providers streamline workflows and provides patients access to personalized treatment plans. Technological advancements in OIS with integration of artificial intelligence and machine learning is also expected to boost the market growth. Integration of predictive analytics, artificial intelligence and population health tools in OIS helps patients and physicians to select treatment plans based on individual patient characteristics. Cloud based OIS is gaining popularity due to benefits such as scalability, mobility and 24/7 patient data access from anywhere. Increasing awareness regarding the benefits of OIS and favorable government initiatives in developed economies is further expected to spur the market growth over the forecast period.

Porter’s Analysis

Threat of new entrants: Low. The oncology information systems market requires high initial investments and the presence of established vendors makes market entry difficult for new players.

Bargaining power of buyers: Moderate. The significant costs associated with oncology information systems increases the bargaining power of buyers. However, the need for these systems limits switching.

Bargaining power of suppliers: Low. The oncology information systems market has several established vendors leading to low threat from suppliers.

Threat of new substitutes: Low. There are no cost-effective substitutes for oncology information systems currently.

Competitive rivalry: High. The global oncology information systems market is highly competitive due to the presence of numerous international and regional vendors.

Key Takeaways

The Global Oncology Information Systems Market Size is expected to witness high growth, exhibiting CAGR of 7.8% over the forecast period, due to increasing adoption of digital technologies in cancer diagnosis and treatment.

Regional analysis:

North America dominated the oncology information systems market in 2023 and is expected to continue its dominance over the forecast period, owing to the rising cancer prevalence and developed healthcare infrastructure in the region. Asia Pacific is anticipated to exhibit the fastest growth rate over the forecast period.

Key players: Key players operating in the oncology information systems market are Cerner Corporation, Elekta, Accuray, RaySearch Laboratories, Flatiron Health, Koninklijke Philips N.V., McKesson Corporation, Epic Systems Corporation, CureMD Healthcare, Varian Medical Systems, Inc. Cerner Corporation and McKesson Corporation captured majority market share in 2023 due to their diverse oncology information systems product portfolio.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it

Money Singh
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Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. 

Money Singh

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. 

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