Oncology Information Systems Market Size, Share & Trends Analysis Report By Products & Services (Solutions, Professional Services), By Application (Medical Oncology, Surgical Oncology), By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global oncology information systems market was valued at USD 2.5 billion in 2022 and is projected to expand at a compound annual growth rate (CAGR) of 7.9% from 2023 to 2030. Monumental growth of healthcare IT, the increasing global prevalence of cancer, increasing expenditure in development around treatments & solutions for cancer care, and increasing adoption of OIS solutions by healthcare facilities, are some of the key factors anticipated to drive the growth of the market. According to percancer.org, more than 1.9 million new cases of cancer were diagnosed in 2021, in the U.S. alone. A wide range of novel technologies is being developed, which have the potential to overhaul the treatment regime completely.

The OIS not only helps healthcare settings like hospitals, clinics, and research laboratories to manage and optimize cancer care solutions but also in the exchange of patient information across organizations to optimize treatment to improve patient safety and personalize treatments for patients for the best possible outcomes. Governments have been increasing their investments in research and development around oncology thus propelling the growth of the market. The National Cancer Institute received its budget from the United States Congress during the annual federal budgeting process, for the year 2022, the total amount was $6.9 billion, a $353 million increase from 2021.

Growing demand for OIS for streamlining patient information and data management has increased the demand for various kinds of OIS software. An increase in investments in cancer research by companies is forecasted to drive market growth. The market is expected to witness considerable growth in the near future and the companies are increasingly investing in the development of innovative and technologically advanced products. The investments by major players in the OIS development are going to be a massive opportunity due to a huge influx of funding and budgets for the healthcare sector, especially in the field of cancer. In the U.K., the government plans on spending $26 billion on research and development by 2024-2025.

USD 123.5 million have been allocated to the Office for Life Sciences for the government’s Life Sciences Vision and cancer research. Such initiatives coupled with new product and software launches by different companies are expected to fuel the market growth. The introduction of blockchain technology and Artificial Intelligence has eliminated the use of paper-based treatments, patient records, etc., and has made the management of patient data easy for both caregiver and patient. Moreover, AI in oncology is one of the factors driving the growth of the market. Systems and software generate high demands in the end-use facilities as they are mostly used by pharmaceutical companies and hospitals.

In addition, the key players are introducing new products in the same but with limited innovations. Hence, investment in R&D to develop products having more features might be beneficial for the companies. For instance, in 2020, Varian Medical Systems, Inc. announced an investment of around USD 10.0 million and a strategic collaboration agreement with COTA, Inc., a curator of clinical data in the oncology sector. Both the companies aim toward empowering cancer clinics with decision support tools, data analytics, operational decisions, and much more.OIS helps in efficiently managing the treatment schedules, treatment delivery, and plans, and further aid in promoting the information flow between the Radiation Therapy (RT) departments and the healthcare companies.

OIS also ensures that clinicians are providing treatment plans with the right procedures to the right patient, with the right cancer site, thereby guaranteeing an effective treatment by providing complete information about RT and the treatment results to clinicians whenever needed for the evaluation process and to enhance the treatment quality. Moreover, the demand for treatment planning systems will witness growth in the future owing to its advantages, such as storing large amounts of data and retrieving information as and when needed as well as helping doctors in scheduling the treatment of various patients. Companies, such as Varian Medical Systems, Elekta AB, and Accuray Inc., are a few big players operating in the market.

COVID-19 Impact on OIS market: 4.8% increase in revenue from 2019 to 2020

Key market players are focusing on launching new campaigns and strategic plans to increase their product visibility, along with increasing awareness of brands. A hybrid model of distribution through distribution networks and collaborations with OIS vendors has been supporting the market growth. The COVID-19 pandemic had an adverse effect on the market owing to the high disease burden due to the pandemic. The focus of all the healthcare systems was shifted to increasingly accommodate patients affected by COVID-19. Non-essential procedures and surgeries were postponed to maintain focus on the situation at hand; moreover, due to lockdowns across nations, the supply chain logistics for medical supplies and other products were severely affected, and hence the overall trade suffered significantly.

Products & Services Insights

On the basis of products & services, the global market has been bifurcated into solutions and professional services. In 2022, the solutions segment accounted for the largest share of 73.6% of the global revenue. The segment is also anticipated to register the fastest growth rate of 8.2% during the forecast period. This segment is dominating the market owing to the rising adoption by healthcare providers for the proper management of radiology imaging. These solutions help in capturing cancer patient-reported outcomes and facilitates direct communication with patients and doctors, leading to the growth of this segment.

The segment growth can be further attributed to the development of more advanced OIS Solutions, which aids in better patient data management and improves cancer treatment. The solutions segment is further divided into patient information systems and treatment planning systems, wherein the treatment planning systems segment accounted for the largest share of the market in 2021. However, professional services are being increasingly accepted as most hospitals and clinics are outsourcing OIS services due to the lack of skilled professionals in hospitals and clinics. These services provide online consultation and customized schedules & reports, which, in turn, aid in improving the quality of care.

Application Insights

On the basis of applications, the global market has been further segmented into medical oncology, radiation oncology, and surgical oncology. The medical oncology segment accounted for the largest share of 61.5% of the global revenue in 2022. The medical oncology segment is further expected to grow at the fastest CAGR of 8.2% over the forecast period owing to the rapid advancements in immunotherapy, hormonal therapy, and targeted therapy for effectively treating various cancers. Moreover, several initiatives pertaining to cancer research are being undertaken by major players, which is further positively influencing the growth of the market.

The surgical oncology segment is also expected to witness significant growth during the forecast years. Cancer care has evolved rapidly over the decades. Surgery is no longer the treatment for most solid malignancies, but the combination of surgery and multi-modal therapies mostly focused on radiotherapy, targeted molecular therapies, and chemotherapy is the preferred treatment. Some procedures, such as cytoreductive surgery, isolated limb perfusion, laparoscopic cancer surgery, and sarcoma surgery can be performed in highly specialized healthcare centers. Thus, increasing complexity in surgical treatments for solid malignancies is expected to drive the growth of the market.

Regional Insights

The North America regional market accounted for the largest revenue share of 38.3% in 2022. Key factors responsible for this growth include the presence of sophisticated healthcare infrastructure and increasing awareness about patient information management in the region. Moreover, the growing adoption of OIS to track and record treatment results of cancer patients and the rising importance of EMR for making better treatment decisions are expected to boost the regional market growth. The rising need for treatment schedules management, dose management, and treatment planning is also expected to increase the demand for OIS in this region.

In addition, the strong presence of several global players in the region, such as Accuray Inc. Cerner Corp., Varian Medical Systems, Inc., McKesson Corp., and Epic Systems Corp., supports the market growth. Asia Pacific is anticipated to register the fastest growth rate of 8.9%. However, Asian countries are witnessing high demand for OIS and are gradually developing due to the supportive government policies and increasing awareness about the benefits of these systems. This region may serve as a hot revenue pocket for players wishing to tap the potential of this region. Therefore, players wishing to capture a large share in this market must design specific pricing policies and also marketing strategies developed specifically for this region that will help them gain a foothold in these lucrative markets.

Key Companies & Market Share Insights

Key companies are primarily focused on incorporating technological innovation with the introduction of web-based oncology solutions and Artificial Intelligence (AI)-based OIS solutions with a goal to enhance the treatment regime, thereby expected to positively impact the market growth in the near future. Some of the key market players operating in the global oncology information systems market include:

• Elekta AB

• Accuray Inc.

• Varian Medical Systems

• RaySearch Laboratories

• Cerner Corp.

• BrainLab

• Philips Healthcare

• Prowess, Inc.

• DOSIsoft S.A.

• ViewRay Inc.

• MIM Software

• Flatiron

• McKesson Corporation

• Siemens Medical Solutions, Inc.

Oncology Information Systems Market Report Scope

Global Oncology Information Systems Market Segmentation

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2030. For the purpose of this study, Grand View Research, Inc. has segmented the global oncology information systems market report on the basis of product & services, application, end-user and region:

• Product Outlook (Revenue, USD Million, 2016 - 2030)

  • Solutions

    • Patient Information Systems

    • Treatment Planning Systems

  • Professional Services

• Application Outlook (Revenue, USD Million, 2016 - 2030)

  • Medical Oncology

  • Radiation Oncology

  • Surgical Oncology

• End User Outlook (Revenue, USD Million, 2016 - 2030)

  • Hospitals & Diagnostic Imaging Centers

  • Ablation Care Centers and Cancer Care Centers

  • Government Institutions

  • Research Facilities

• Regional Outlook (Revenue, USD Million, 2016 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

  • Asia Pacific

    • Japan

    • China

    • India

    • Thailand

    • South Korea

  • Latin America

    • Brazil

    • Mexico

    • Argentina

    • Colombia

  • Middle East & Africa

    • Saudi Arabia

    • South Africa

    • UAE