SAN FRANCISCO, Feb. 5, 2019 /PRNewswire/ -- The global oncology information systems market size is expected to reach USD 3.4 billion by 2026, according to a new report by Grand View Research, Inc. It is anticipated to register a CAGR of 8.4% during the forecast period. Increasing prevalence of cancer and several initiatives pertaining to cancer research taken by major players are among the key driving factors for market growth.
Key suggestions from the report:
- In terms of revenue, software segment is estimated to expand at the highest CAGR over the forecast period, attributed to the benefits offered by software, such as streamlining and fine-tuning the patient management and data management processes
- Medical oncology is expected to register highest CAGR among application segment over the forecast period owing to the factors, such as increasing usage of chemotherapy, targeted therapy, and hormonal therapy
- Asia Pacific is expected to witness the fastest CAGR over the forecast period. Various government initiatives and increasing healthcare expenditure are anticipated to drive the regional growth
- Few key players operating in the oncology information systems market are Elekta AB, Varian Medical Systems, Accuray Incorporated, Cerner Corporation, RaySearch Laboratories and Flatiron.
Read 82 page research report with TOC on "Oncology Information Systems Market Size, Share & Trends Analysis Report By Products & Services (Software, Professional Services), By Application (Medical, Surgical, Radiation), And Segment Forecasts, 2019 - 2026" at: https://www.grandviewresearch.com/industry-analysis/oncology-information-systems-market
Increasing investment in the field of oncology are among the factors expected to drive the oncology information system market over the forecast period. For instance, in 2018, Varian announced the acquisition of Noona Healthcare. Noona's patient software application will help in capturing cancer patient-reported outcomes and facilitate direct communication with the patients. This acquisition will help Varian to boost its oncology software services. General Atlantic a Connecticut based company invested around USD 200 million for launching OneOncology, a company designed for helping community oncology practices with the technology data, innovation and research by leveraging the scale. Thus, these factors are expected to drive the OIS market growth.
Key players are also taking initiatives for developing more advanced OIS with an aim for bringing improvement in the cancer treatment. For instance, Elekta announced investment in PalabraApps LLC for the development of advanced Elekta Clinical workflow mobility and productivity tools. The tools developed through these investments will provide the customers with solutions, which are fully integrated with the Elekta's Mosaiq OIS for addressing the growing need of enhanced clinical efficiency and quality control. Such initiatives are anticipated to propel the oncology information system market during the forecast period.
Grand View Research has segmented the global oncology information systems market on the basis of products and services, application, and region:
- Oncology Information Systems Products and Services Outlook (Revenue, USD Billion, 2014 - 2026)
- Patient Information Systems
- Treatment Planning Systems
- Professional Services
- Oncology Information Systems Application Outlook (Revenue USD Billion; 2014 - 2026)
- Medical Oncology
- Radiation Oncology
- Surgical Oncology
- Oncology Information Systems Regional Outlook (Revenue, USD Billion; 2014 - 2026)
- North America
- Latin America
- Saudi Arabia
- South Africa
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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