The oncology information system market is expected to expand at a 7.8% CAGR. The oncology information system market is expected to grow from $2.59 billion in 2022 to $5.48 billion by 2032

Image courtesy of Philips Healthcare 


July 26, 2022 — The oncology information system market is expected to expand at a 7.8% CAGR. The oncology information system market is expected to grow from $2.59 billion in 2022 to $5.48 billion by 2032. 

The increasing incidence and prevalence of cancer, as well as the growing need to reduce the cost of cancer care, are driving the oncology information system market growth, as are the potential benefits offered by oncology information systems in cancer treatment, management, and planning. 

The oncology information system market includes software and services used for comprehensive information and image management, which aids in the management and optimization of cancer patient profiles and treatment. 

Leading oncology information system market players' sales and operating incomes have decreased as a result of COVID-19. Inventory was reduced as a result of tight production controls. 

The rising incidence of cancer cases is one of the major factors driving the oncology information system market growth. There are a few other factors driving the oncology information system market key trends and opportunities, such as the growing need to reduce oncology care costs and the growing adoption of oncology information system along with electronic health records (EHR) and other oncology information systems. 

A major impediment to implementing OIS solutions in hospitals is a lack of qualified resources influencing the oncology information system market future trends along with oncology information system market opportunities. Currently, the demand for healthcare IT professionals outnumbers supply in both developing and developed oncology information system market, including the United States and Europe. 

Asia Pacific accounted for 17.8% of the oncology information system market. The Asia Pacific oncology information system market is expanding due to several factors, including rising cancer prevalence and increased investment in the implementation of IT solutions in healthcare settings which h influences the oncology information system market adoption trends.   

KEY TAKEAWAYS: 

·       The oncology information system market has been divided into two segments: solutions and professional services. The solutions segment accounted for the majority of revenue i.e. 73.4%. 

·       The solutions segment is further subdivided into patient information systems and treatment planning systems, with the latter accounting for the lion's oncology information system market share. 

·       Medical oncology accounted for the largest oncology information system market share of global revenue, accounting for 61.4% of total revenue. 

·       In 2021, the North America regional oncology information system market had the highest oncology information system market share’s revenue of 38.5%. 

·       The software segment accounted for 83.6% of the product and service oncology information system market. 

·       Radiation oncology accounted for 53.8% of the oncology information system market. 

·       Asia Pacific accounted for 17.8% of the oncology information system market.


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