The North America Oncology Information Systems Market would witness market growth of 6.7% CAGR during the forecast period (2022-2028).
The need for various types of OIS software has increased due to the increasing demand for OIS to streamline patient data and information management. The market is expected to rise as a result of corporations making more investments in cancer research. The market is anticipated to have significant expansion shortly, and businesses are investing more and more in the creation of cutting-edge products. Due to a significant increase in funds and budgets for the healthcare industry, particularly in the area of cancer, major businesses' investments in the development of OIS will present tremendous potential.
The Office for Life Sciences has been given millions of USD for cancer research and the government's Life Sciences Vision. The market expansion is anticipated to be fueled by such initiatives along with the introduction of new products and software by various firms. The need for paper-based therapies, medical records, etc. It has been abolished due to the development of blockchain technology and artificial intelligence, and managing patient data is now simple for both patients and caregivers. Additionally, one of the elements promoting the market's expansion is the use of AI in cancer. Since hospitals and pharmaceutical businesses employ systems and software the most, there is a significant need for them at end-user facilities.
North America spent 16.32 percent of its GDP on healthcare overall in 2019. The market is expanding as a result of factors like technical advancements and the accessibility of less invasive cancer treatment options in industrialized nations. According to the National Cancer Institute of the US Department of Health and Human Services, one in every sixteen Americans will be treated for lung cancer throughout their lifetime. In 2018, there were more than 228,000 cases of lung cancer in the United States, with a new case being discovered every 2.3 minutes.
In Canada, 26,900 women will be found to have breast cancer this year, and 5,000 deaths were anticipated. For Canadian women, breast cancer accounts for 13% of all cancer deaths and 25% of all new cancer diagnoses. 1 in 8 women will develop breast cancer at some point in their life, and 1 in 33 will pass away from it. The demand for a variety of cancer therapies will increase across the region in the upcoming years as a result of this increase in instances.
The US market dominated the North America Oncology Information Systems Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $908.8 Million by 2028. The Canada market is poised to grow at a CAGR of 9.1% during (2022 - 2028). Additionally, The Mexico market would display a CAGR of 8.2% during (2022 - 2028).
Based on Offering, the market is segmented into Solutions (Patient Information Systems and Treatment Planning Systems) and Professional Services. Based on Application, the market is segmented into Medical Oncology, Radiation Oncology, and Surgical Oncology. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Oncology Information Systems Market is Estimated to reach $3.4 Billion by 2028, at a CAGR of 7.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Oracle Corporation (Cerner Corporation), Koninklijke Philips N.V., Varian Medical Systems, Inc. (Siemens Healthineers), ViewRay, Inc., Accuray, Incorporated, Elekta AB, RaySearch Laboratories AB (Nasdaq, Inc.), Brainlab AG, DOSIsoft SA (Institut de cancérologie Gustave Roussy), and MIM Software Inc.
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