The global oncology information system market was valued at USD 6.3 Billion in 2020 and is anticipated to grow at USD 10.73 Billion till 2027 recording a CAGR of 7.9% during the forecast period 2021-2027. The report provides in-depth analysis of the impact of COVID-19 on the market, along with revised market numbers due to the effects of the coronavirus.
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Oncology information system includes the information exchanged between overall healthcare venture and radiotherapy department. This system is utilized to manage data about oncology patient treatment schedules, treatment results, treatment plans and summary and results of the treatment. For the purpose of medical safety demographic as well as treatment information of patients is stored to these systems. These information systems are connected to other information systems too.
A significant market driving factor that is anticipated to impel the growth of the oncology information systems market is numerous advantages offered by this type of information system rather than conventional methods to protect the data and plan the treatment. Increasing cancer patients is another market driving factor. Approximately 8.8 Mn deaths were recorded globally because of cancer according to World Health Organization WHO. On the other hand, high price involved in the implementation of oncology information systems, dearth of awareness and lack of experts are the major factors hindering the oncology information systems market.
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Some of the major players of the global oncology information system market include Varian Medical Systems, Inc. (U.S.), Elekta AB (Sweden), Accuray Incorporated (U.S.), Koninklijke Philips N.V. (Netherlands), Cerner Corporation (U.S.), Altos Solutions, Inc. (U.S.) and Epic Systems Corporation iU.S.). Key players of the market are focusing chiefly on following efficient strategies to retain their position in the market. Acquisitions, mergers and collaborations are the strategies followed by the key players of the market. Key players also try to expand their product portfolio in the market. Manipal Hospitals Introduced a cognitive computing platform called IBM Watson for oncology to provide insights.
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