Oncology Information System Market Value is Likely to Soar Around US$3,293.8 Mn by 2022

The global Oncology Information System Market has mushroomed steadily out of the rising need to keep track of the various aspects of oncology treatments and the rising use of digital tools in healthcare for the purpose of data storage. Oncology information systems track patient information such as diagnostic details and patient history, as well as treatment patterns and prescriptions. The global oncology information system market is likely to exhibit smooth growth in the coming years due to a number of factors, as witnessed in the strong 7.6% CAGR projected for the market over the 2017-2022 forecast period.

According to Transparency Market Research, the global oncology information system market was valued at US$2,285.6 mn in 2017 and is likely to rise to a valuation of US$3,293.8 mn by 2022.

Hospitals, oncology clinics, and research centers are likely to remain crucial to the global oncology information system market over the coming years, with hospitals set to dominate the demand from the global market.

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The key service types offered in the global oncology information system market are patient information systems, treatment planning systems, consulting services, implementation services, and post-sale and maintenance services. Of these, patient information systems are likely to remain the dominant revenue generator for the global oncology information system market in the coming years.

The patient information systems segment accounted for 34.8% of the global oncology information system market in 2017, with a valuation of US$794.4 mn. The segment is expected to exhibit a strong 7.1% CAGR over the 2017-2022 forecast period to emerge with a valuation of US$1,117.7 mn by 2022. Nevertheless, the segment’s share in the global oncology information system market is expected to drop slightly to 33.9% over the 2017-2022 forecast period due to the growing demand for treatment planning systems and consulting services.

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Leading players in the global oncology information system market include Accuray Inc., Koninklijke Philips N.V., Cerner Corporation, Mckesson Corporation, Flatiron Health Inc., Raysearch Laboratories, Epic Systems Corporation, Verian Medical Systems Inc., and Elekta AB. The oncology information system market is set to be intensely competitive over the coming years due to the growing commercial promise of the market and the rising prevalence of cancer across the world, which has enabled growing awareness about the utility of oncology information systems.