FREMONT, California, Jan. 7, 2020 /PRNewswire/ -- According to the new market intelligence report by BIS Research, "Global Oncology Informatics Market – Analysis and Forecast, 2019-2025", the global oncology informatics market generated revenue of $4.23 billion in 2018 and is expected to grow over $6.94 billion by the end of 2025. The market is projected to grow at a CAGR of 7.03%, during the forecast period from 2019 to 2025. There are multiple factors that drive the market such as increasing adoption of oncology EHRs, emphasis on reduction in medical errors in cancer care, rising cost of cancer care, and various government initiatives.
Browse 59 Market Data Tables and 90 Figures spread through 271 Pages and in-depth TOC on "Global Oncology Informatics Market"
Pharmaceutical companies and life science companies are the major end users of the oncology informatics market in terms of revenue share. However, the usage of the solutions is expected to increase in hospitals and research centers in order to streamline the workflow of the facilities and improve the quality of care.
Among the different products used in cancer care, EHR is expected to hold the largest market share during the forecast period, 2019-2025. Other solutions specifically being used for oncology include clinical decision support system (CDSS), population health management system (PHM), drug discovery and development informatics solutions, and image analytics solutions.
BIS Research Report: https://bisresearch.com/industry-report/oncology-informatics-market.html
According to Abdul Wahid, Principal Analyst, BIS Research, "Pharmaceutical companies would hold the largest share of the market during the forecast period. In terms of growth rate, the academic institutes and research centers are likely to grow at the highest CAGR during the forecast period. In terms of product type, oncology image analytics solutions are expected to grow at the highest CAGR during the forecast period. This growth rate is primarily due to rising incidences of cancer and the need for high speed and accurate analysis of medical images to improve the swiftness of cancer care."
- The use of oncology informatics solutions in drug discovery and development can significantly improve the candidate selection process and the data analysis process.
- North America is expected to be the major market share holder of the market, followed by Europe, Asia-Pacific, and Rest-of-the-World. While Asia-Pacific is likely to see the highest growth rate, the CAGR for Rest-of-the-Word is anticipated to be extremely close to Asia-Pacific. The usage of oncology informatics solutions in North America is foreseen to be limited to hospitals and research centers.
- The market is a homogenous blend of giants such as F. Hoffmann-La Roche Ltd. and IBM and emerging companies such as Tempus and Cota. Core players such as Elekta AB and Varian Medical Systems, Inc. are expected to continue to lead the market.
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This market intelligence report provides a multidimensional view of the global oncology informatics market in terms of market size and growth potential. This research report aims at addressing various aspects of the global oncology informatics market with the help of key factors driving the market, threats that can possibly inhibit the overall market growth, and growth opportunities that are going to shape the future trajectory of the market expansion. The study considers the growth-share matrix model for a comprehensive study of the global oncology informatics market and assesses the factors governing the same.
Furthermore, the competitive landscape chapter in the report explicates the competitive nature of the global market and enables the reader to get acquainted with recent market activities such as product launches, partnerships, collaborations, funding, as well as mergers and acquisitions. The research report provides a comprehensive analysis of product providers and platform providers, trend analysis by segments, and demand by regions.
This study is a meticulous compilation of research on more than 20 players in the market ecosystem and draws upon insights from in-depth interviews with key opinion leaders of more than 20 leading companies, market participants, end users, and vendors. The report also profiles 17 key companies, namely Cerner Corporation, Change Healthcare, Elekta AB, F.Hoffmann-La Roche Ltd., Hologic, Inc., IBM Corporation, Inspirata, Inc., Koninklijke Philips N.V., Laboratory Corporation of America Holdings, McKesson Corporation, MIM Software, Inc., Oncology Analytics, Inc., Perkinelmer, Inc., RELX Group, Sirenas LLC, United Health Group, and Varian Medical Systems, Inc.
Key Questions Answered in the Report:
- How are oncology informatics solutions positioned to save healthcare expenditure annually? How can these solutions help in reducing healthcare expenditure for developed economies such as North America and Europe?
- How are oncology informatics solutions help in changing the business model of healthcare delivery?
- What are the major developments such as product launches, mergers and acquisitions, collaborations, and partnerships taking place in the market, and how are they changing the dynamics of the global oncology informatics solutions market?
- How the market is projected to during the forecast period, 2019-2025, based on different segments of the market, such as
- type, including electronic health records (EHRs), population health management (PHM), clinical decision support system (CDSS), drug discovery and development informatics, and image analytics
- end user, including pharmaceutical industry, life science industry, contract research organizations (CROS), academic institutes and research centers, and others (hospitals and other care facilities)
- region, including North America, Europe, Asia-Pacific, Rest-of-the-World
- What are the major pricing strategies employed by the vendors that can significantly put pricing pressure on the competitors?
- What is the current user base for the leading oncology informatics solutions vendors in the market?
- What are the technological and regional trends pertaining to the global oncology informatics market?
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