GLOBAL ONCOLOGY INFORMATION SYSTEMS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

The global oncology information systems market size is expected to reach US$ 13.85 Bn by 2030, from US$ 8.19 Bn in 2023, at a CAGR of 7.8% during the forecast period.

Oncology information systems are specialized healthcare IT solutions designed specifically for oncology departments and practices. They capture, store, and manage key information related to cancer patients at every stage of their care journey. Oncology information systems integrate with various technologies like EHRs (Electronic Health Record), radiology information systems, treatment planning systems, and revenue cycle management solutions to enable efficient workflows. The major drivers of the oncology information systems market include the rising prevalence of cancer, need for integrated healthcare IT systems, government initiatives for the adoption of EHR, and investments in healthcare IT infrastructure.

The global oncology information systems market is segmented into type, application, end user, and region. Based on type, the patient information systems segment accounted for the largest share of the market in 2022. Patient information systems store and manage patient health records and aid in treatment planning and clinical workflow optimization. Their adoption is driven by the need for accurate patient data tracking and care coordination across multidisciplinary teams.

Global Oncology Information Systems Market Regional Insights:

• North America is expected to be the largest market for the global oncology information systems market during the forecast period, accounting for over 39.3% of the market share in 2023. The growth of the market in North America is attributed to favorable government policies, high adoption of EHRs, advanced healthcare IT infrastructure, and high cancer prevalence.
• Europe is expected to be the second-largest market for the global oncology information systems market, accounting for over 28.2% of the market share in 2023. The growth of the market in is attributed to developed healthcare IT infrastructure, increasing cancer cases, and investments in oncology informatics.
• Asia Pacific is expected to be the fastest-growing market for the global oncology information systems market, with a CAGR of over 22.5% during the forecast period. The growth of the market in Asia Pacific is attributed to the improving healthcare infrastructure, rising disposable incomes, and increasing awareness about oncology information systems.

Figure 1. Global Oncology Information Systems Market Share (%), by Region, 2023

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Analyst’s Views:

The oncology information systems market is set to witness substantial growth in the coming years. This growth is primarily driven by the increasing prevalence of cancer globally and the growing need for efficient and effective systems to manage and streamline oncology treatment. The integration of advanced technologies such as Artificial Intelligence (AI) and Machine Learning (ML) in oncology information systems is revolutionizing cancer care, making treatment more personalized and precise. These advancements are expected to further propel the market growth. However, the market also faces challenges such as high costs associated with the implementation of these systems and a lack of skilled professionals to operate them. Additionally, issues related to data security and privacy could also hinder market growth. Despite these challenges, the trend of company acquisitions is providing a significant boost to the market. Large healthcare IT companies are acquiring smaller firms to enhance their product portfolio and expand their market presence. This trend is expected to continue, contributing to the market's expansion. In conclusion, the Oncology Information Systems Market holds promising potential, with technological advancements and strategic acquisitions paving the way for a more efficient and effective cancer care landscape.

Global Oncology Information Systems Market Drivers:

• Rising prevalence of cancer globally: The rising prevalence of cancer across the globe is a major factor driving the growth of the oncology information systems market. With increasing cancer incidence rates, the patient pool undergoing diagnosis and treatment for various cancers has expanded significantly. This has created an urgent need for robust oncology informatics platforms that can efficiently capture and manage information throughout the care continuum to improve outcomes. Oncology information systems aid in tracking real-time patient data, care coordination, treatment planning and clinical research in cancer care. Their adoption is rising rapidly in line with the growing cancer burden worldwide. According to the World Health Organization (WHO), cancer is the leading cause of death worldwide, accounting for over 10 million deaths in 2020, or nearly one in every six deaths According to the same source, new cases of breast cancer and 2.2 million new cases of lung cancer were reported in 2020.
• Need for integrated healthcare IT platforms: Healthcare providers are increasingly looking to integrate their disparate healthcare IT systems and medical devices onto unified platforms to enable seamless workflows and care coordination. Oncology information systems serve as centralized hubs that can consolidate key patient data from diverse systems including EHRs, RIS, PACS, monitoring devices, etc. By linking clinical, operational, administrative, and financial data, these systems provide a 360-degree view of patient information to optimize care delivery across multidisciplinary teams involved in cancer treatment. Their ability to unify data is driving adoption across cancer centers and hospitals.
• Favorable government policies: Government regulations and incentive programs to promote the adoption of advanced healthcare IT solutions are catalyzing the oncology information systems market growth. For instance, laws mandating or encouraging EHR implementation in many countries are providing impetus to these systems as they can integrate tightly with existing EHRs. Favorable reimbursement policies for cancer therapies supported by robust informatics are also driving the deployment of these solutions across clinical settings.
• Expanding personalized medicine: The emergence of precision medicine and molecular profiling is creating demand for advanced oncology informatics platforms. As cancer treatment becomes more targeted with the use of biomarkers and genomic testing, oncology information systems are required to collect, analyze and exchange high volumes of patient molecular data to enable personalized therapy decisions. Their workflow automation and analytics capabilities are invaluable in the expanding precision oncology space.

Global Oncology Information Systems Market Opportunities:

• Cloud-based solutions: The availability of cloud-based oncology information system solutions has opened new growth opportunities in the market. Cloud-based systems offer various advantages like lower upfront costs, scalability, easier upgrades, and 24/7 accessibility to data. As healthcare providers of all sizes look to leverage the cloud’s economies of scale and agility, the adoption of cloud-based oncology informatics solutions is expected to rise. This provides significant growth opportunities for vendors in the space.
• Artificial intelligence: Incorporating AI and machine learning capabilities within oncology information systems unlocks new opportunities for data-driven insights and clinical efficiency. AI can automate mundane tasks, enable predictive analytics, personalized treatment recommendations and streamline reporting. As AI adoption gains momentum in healthcare, integration with oncology informatics platforms will become imperative. This creates substantial opportunities for advanced AI-powered solutions.
• Improving IT infrastructure in emerging markets: Emerging countries are currently investing heavily in health IT infrastructure development including implementation of EHR systems, data analytics tools, and care coordination platforms. This improving IT landscape coupled with rising cancer burden in developing economies is creating massive opportunities for oncology information system vendors. Local partnerships and tailored solutions focused on emerging markets will be key growth strategies.
• mHealth integration: Seamless integration with mHealth apps and wearable devices provides significant growth opportunities for oncology information systems. Patients can self-report symptoms, medication intake, vital parameters, etc. through mHealth solutions integrated with these systems, enabling remote patient monitoring. As telehealth gains momentum, integration opportunities will expand driving adoption of interoperable systems.

Global Oncology Information Systems Market Trends:

• Company Acquisitions: Market players operating in the market are focused on strategies, such as acquisitions, and this is expected to boost the growth of the market over the forecast period. For instance, on September 26, 2023, Varian Medical Systems, Inc., a healthcare technology company providing oncology information systems among other products, announced that it has acquired Aspekt Solutions, a healthcare company. Varian Medical System's Advanced Oncology Solutions (AOS) products will be expanded as a result of the acquisition of Aspekt Solutions.
• Patient engagement solutions: To improve care coordination and patient outcomes, oncology information systems are converging with patient engagement platforms, providing customized education, symptom tracking, remote access to records, self-scheduling, and others. Enabling patients’ active participation in their care through engagement solutions integrated with oncology informatics will be crucial.
• Interoperability focus: A major technology trend is the increased focus on interoperability and standards-based data sharing between oncology information systems and other hospital IT systems. Seamless bidirectional data exchange between oncology informatics, diagnostic systems, medical devices, research databases, registries, and EHRs are critical for coordinated care. Advancing interoperability is a key trend.
• Workflow automation: Oncology information systems are leveraging emerging technologies like AI, blockchain, and IoT (Internet of Things) to enable greater workflow automation - from clinical trial management to radiation dose tracking. By reducing administrative overheads and manual errors, workflow automation delivers productivity gains for healthcare organizations. It is a major technology trend in this space.

Global Oncology Information Systems Market Restraints:

• Data privacy and security concerns: Patient data privacy and security concerns associated with digital oncology records is a major restraint to adoption of these systems. As systems capture sensitive patient information, concerns around cyberattacks, data breaches, and unauthorized access persist. Lack of skilled staff and IT security infrastructure pose challenges for healthcare providers to fully embrace oncology informatics solutions.
• High upfront costs: The significant upfront costs of oncology information systems - including software, hardware, implementation, training and maintenance – make adoption prohibitive for many smaller clinics and healthcare centers. Many are reluctant to invest in these expensive solutions and prefer traditional paper-based records. Capital expenditure costs coupled with budget constraints impede the growth of the oncology information systems market.

Recent Developments:

Agreements & Acquisitions:

• In February 2023 , Varian Medical Systems, Inc., a global healthcare technology company developing and providing oncology information system, announced that it has entered into an agreement with Nova Scotia Health, a provincial health authority serving Nova Scotia, Canada to lead the health system's entire oncology service line's digital transformation. A unified, interconnected network of multidisciplinary oncology software and services supporting patient care across eight centers, including regional centers located all across the province, will be established as part of the five-year Oncology Transformation Project (OTP) which will build upon and integrate Nova Scotia Health's current Varian software capabilities.
• In February 2021, Elekta, a healthcare IT company, announced the acquisition of Kaiku Health, which will expand its emphasis on cancer care professionals and their patients. The Kaiku platform can be connected with Elekta's MOSAIQ Oncology Information System, which was a crucial component of the acquisition.

New Launches:

• In June, 2021, F. Hoffmann-La Roche Ltd, a global healthcare company, launched NAVIFY Oncology Hub. NAVIFY Oncology Hub provides a central workspace for clinicians to quickly access relevant patient data to optimize care decisions and enhance care coordination. It also aggregates and organizes patient data from disparate sources, providing a longitudinal view of the patient’s cancer care journey.
• In December 2020, McKesson Corporation, a global healthcare company, launched Ontada, an oncology technology and insights business designed to support innovation, acceleration, and evidence generation to drive better outcomes for patients with cancer.

Figure 2. Global Oncology Information Systems Market Share (%), by Application, 2023

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Top Companies in the Global Oncology Information Systems Market:

• Cerner Corporation
• Elekta
• Accuray
• RaySearch Laboratories
• Flatiron Health
• Koninklijke Philips N.V.
• McKesson Corporation
• Epic Systems Corporation
• CureMD
• Varian Medical Systems, Inc.
• Brainlab,
• Siemens Healthcare Private Limited
• Oracle
• Karkinos Healthcare Private Limited

Definition: Oncology information systems are specialized healthcare IT solutions designed specifically for oncology departments, practices, and research centers. They capture, store, and manage key clinical, administrative, and financial and research data related to cancer patients across the care continuum. Oncology information systems integrate with EHRs, medical imaging systems, and revenue cycle management platforms to optimize workflows. They aid in treatment planning, clinical documentation, care coordination, outcomes analysis, and cancer research. With rising cancer prevalence and emphasis on value-based patient-centric care, the adoption of oncology information systems is increasing globally.