The global Oncology Information Systems (OIS) market is on the rise, reaching $3.08 billion in 2020 and projected to hit $5.53 billion by 2030, with a 6.0% compound annual growth rate (CAGR) from 2021 to 2030. The increase in cancer cases and the adoption of advanced treatments are driving this growth, along with the rise in healthcare spending and disposable income.
The surge in cancer cases worldwide is a major driver of the OIS market. The World Health Organization (WHO) reports that cancer is a leading cause of death globally, with 70% of cancer-related deaths occurring in low and middle-income countries. By 2040, new cancer cases are expected to reach 29.5 million annually, with 16.4 million cancer-related deaths. This increase in cancer prevalence is expected to boost the demand for oncology information systems.
Technological advancements in OIS, such as patient portals, and the rise in disposable income among cancer patients are also contributing to market growth. Countries like India and China are increasing their healthcare expenditure, while software incorporating artificial intelligence is advancing. Additionally, OIS are being used to treat rare cancers, presenting new opportunities for market growth. However, the lack of healthcare IT professionals and the high costs associated with OIS are limiting factors.
The global OIS market is segmented based on product & services, application, end user, and region. The services segment is expected to have the highest CAGR of 6.4%, with medical oncology leading in application with a 6.6% CAGR. North America dominated the market in 2020, but Asia-Pacific is projected to have the highest CAGR of 7.4% during the forecast period.
Leading players in the market include Accuray Incorporated, BMSI Partners Inc., Cerner Corporation, CureMD Corporation, Elekta AB, F. Hoffmann LA Roche AG, Siemens AG, Koninklijke Philips N.V., McKesson Corporation, and Nasdaq Inc. To learn more about the market and its key players, visit the Allied Market Research website.
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