The study on the Global Oncology Informatics Market is the latest report covering the impact analysis of the currently ongoing COVID-19 pandemic. The pandemic has directly affected the market by causing disruptions in the global supply chains and indirectly by inducing financial difficulties. The Oncology Informatics Market has witnessed dynamic changes in trends and demands owing to the ongoing COVID-19 pandemic. The report provides a detailed outlook on how the pandemic has affected the key segments of the Oncology Informatics industry. The report includes an in-depth impact analysis of the COVID-19 pandemic on the overall Oncology Informatics industry
The global Oncology Informatics market is forecasted to be worth USD 8.01 Billion by 2027, according to a current analysis by Emergen Research. The oncology informatics market is growing due to an increase in the number of cancer patients and the rise in the adoption of advanced technologies. The integration of oncology informatics with Blockchain technology and increasing investment opportunities in the developing and developed nations such as Brazil, and China, coupled with advancement in the precision medicine technology, are some of the opportunities that will drive the market technology in the coming years. However, despite these benefits, some of the challenges of the market are the dearth of a medical oncologist, the high cost of installation and lack of interoperability. Concerns regarding the data security concerns will also hinder the demand for the product.
Informatics tools are proving to be of increased importance in both oncology research and practice. They are used by clinicians at the point-of-care and by ancillary services such as pathology and radiology. Development in artificial intelligence, decision support, information presentation and extraction, and predictive analytics will impact the market in the coming years. The growth in the trend of precision medicine in oncology will also positively impact the market.
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Some Key Highlights from the Report:
- In June 2020, Philips announced a collaboration with MD Anderson’s Precision Oncology Decision Support (PODS) system to allow the physicians globally to personalize therapy based on the patient’s genomic profile to improve patient care.
- PHM or population health management is applied to chronic disease management with extensive data analysis. The purpose of the process is to enhance the patient outcome and overall cost. The information helps in developing actionable treatment steps for individual or specific groups.
- Pharmaceutical organizations are primary end-users of the oncology informatics market due to the usage of the solutions, which will increase the workflow of the facilities and enhance the quality of care.
The leading market contenders listed in the report are:
Elekta AB, Hologic, Inc., Cerner Corporation, F. Hoffmann-La Roche Ltd., Inspirata, Inc., IBM Corporation, Laboratory Corporation of America , Holdings, Koninklijke Philips N.V., PerkinElmer, Inc., McKesson Corporation
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Market Segmentations of the Oncology Informatics Market
- Type Outlook (Revenue, USD Billion; 2017-2027)
- Population Health Management (PHM)
- Drug Discovery and Development Informatics
- Electronic Health Records (EHRs)
- Clinical Decision Support System (CDSS)
- Image Analytics
- End Users Outlook (Revenue, USD Billion; 2017-2027)
- Life Science Industry
- Academic Institutes and Research Centers
- Pharmaceutical Industry
- Contract Research Organizations (CROs)
- Others (Hospitals and Other Care Facilities)
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Regional Analysis:
The report sheds light on the region expected to dominate the Oncology Informatics market in the coming years. The report estimates the market size in terms of volume and value and offers an accurate estimate of the market share each region is anticipated to hold during the forecast period. The report analyzes the spread of the Oncology Informatics market in key geographies covering North America, Latin America, Europe, Asia Pacific, and Middle East Africa. The regional analysis offers an idea about the production and consumption pattern, import/export, supply and demand ratio, revenue contribution, market share and size, and the presence of prominent players in each region
Table of Contents
- Executive Summary
- Research Methodology
- Market Overview
- Regional Landscape
- Global Market Analysis and Forecast by Types
- Global Market Analysis and Forecast by Applications
- Global Market Analysis and Forecast by Regions
- North America Market Analysis and Forecast
- Europe Market Analysis and Forecast
- Asia Pacific Market Analysis and Forecast
- Latin America Market Analysis and Forecast
- Middle East Africa Market Analysis and Forecast
- Competitive Landscape
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