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

Global Oncology Information Systems Market Size and Trends

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.

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.