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Increase in number of therapies to treat cancer

originally published at Health - Trend Magazine

Oncology information systems (OIS) enable management of patient profiles by combining surgical, radiation, and medical oncology information in one system.

PORTLAND, OREGON, UNITED STATES, March 15, 2022 / — The benefits of implementing oncology information systems over conventional methods of record keeping and treatment planning are expected to boost the growth of the oncology information systems market. The advantages of oncology information systems such as planned treatment, future-proofing, and remote access are expected to increase the demand for these systems and motivate the government organizations to upgrade their procedure from paper-based systems to paperless systems. Furthermore, the increase in disposable income among cancer patients, surge in prevalence of cancer cases, and technological advancements in these systems, such as incorporation of patient portals, are anticipated to fuel the market growth. Rise in healthcare expenditure in developing countries, such as India and China, advancement in software using artificial intelligence, and use of oncology information systems to treat rare cancers are expected to present multiple opportunities for market growth. However, this growth is restricted owing to lack of healthcare IT professionals and high capital costs associated with oncology information systems.

According to the report published by Allied Market Research, the global oncology information systems market size was valued at $3,082.3 Million in 2020, and is estimated to reach $5,538.66 Million by 2030, growing at a CAGR of 6% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.

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Onkar Sumant, a Manager, Healthcare at Allied Market Research, stated, “The growth of the global OIS market is attributed to rise in cancer cases and increase in adoption of technologically advanced treatments. Moreover, increase in healthcare expenditure and rise in disposable income are expected to drive the market growth during the forecast period”.

COVID-19 scenario:

In addition, the COVID-19 outbreak is anticipated to have a negative impact on the oncology information systems market. A huge number of clinics and hospitals across the globe were restructured to increase the hospital capacity for patients diagnosed with COVID-19. Nonessential procedures took a potential backlog due to rapid rise in COVID-19 cases. The lockdown led to disruption of manufacturing and transportation of healthcare essentials. The demand for OIS solutions declined during the pandemic, owing to shut down of many hospitals and oncology clinics. However, increase in vaccination rate is expected to stabilize the market.

Medical oncology dominates the oncology information systems market. In medical oncology, oncology information systems software manages, interprets, analyzes, and stores the patient information efficiently. In addition, as the software assists to predict the treatment outcome for patients, it helps to improve the survival rate of the patient and drives the oncology information systems market growth.

Region wise, North America accounted for a majority of the global oncology information systems market share in 2020, and is anticipated to remain dominant during the forecast period. This is attributed to increase in cancer cases and adoption of technologically advanced treatments. However, Asia-Pacific is anticipated to witness notable growth, owing to increase in disposable income and rise in investment in healthcare sector.

Key Market Players:

Accuray Incorporated
BMSI Partners Inc., (Bogardus Medical Systems, Inc.)
Cerner Corporation
CureMD Corporation
Elekta AB
F. Hoffmann-LA Roche Ag (Flatiron Health, Inc.)
Siemens AG (Siemens Healthnieers)
Koninklijke Philips N.V.
McKesson Corporation
Nasdaq Inc. (RaySearch Laboratories AB).

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About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.

David Correa
Allied Analytics LLP
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originally published at https://thetrendmag.comHealth - Trend Magazine