The North American oncology information system market is estimated to grow at a CAGR of 7.9% during the forecast period to reach nearly $1.5 billion in 2025 from $800 million in 2018. The growth of the market is attributed to the increasing prevalence of cancer and significant awareness regarding the early diagnosis and treatment of the condition in the region. There is a significant rise in the cancer incidences in the region. As per the World Health Organization (WHO), in 2018, the number of new cancer incidences in the region reported was nearly 2.4 million, which accounted for 13.2% of the global cancer incidences. North American population has significant awareness regarding cancer and favorable reimbursement and insurance policies are supporting to drive the demand for early diagnosis and treatment in the region. For instance, Medicare Part B covers several medically important cancer-associated services and treatments offered on an outpatient basis.
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The North American Oncology Information System market is segmented on the basis of oncology type and end-user. On the basis of oncology type, the market is segmented into medical oncology, radiation oncology, and surgical oncology. Medical oncology segment dominated the market in 2018 and is further estimated to continue the same trend over the forecast period. Medical oncology includes immunotherapy, chemotherapy, targeted therapy, and hormonal therapy. With the increasing number of cancer cases, the use of these therapies increases, which in turn, drives the segmental growth of the market. In addition, the key players such as Elekta AB, Verian Medical Systems, Inc., and Cerner Corp., contribute significantly to the segmental growth of the market. For instance, MOSAIQ Medical Oncology system offered by Elekta AB efficiently manage all the chemotherapy program, ranging from diagnosis to treatment post-follow-up. Additionally, it manages medical record of patient for multiple treatment types and reduces errors and inefficiencies. Furthermore, based on the end-user, the market is classified into hospitals and clinics, diagnostic centers, and others.
The North American Oncology Information System market is characterized with the presence of various players operating in the market. Some of the prominent players that contribute significantly in the market include Elekta AB, Cerner Corp., Koninklijke Philips N.V., Verian Medical Systems, Inc., Mckesson Corp., IBM Corp. and others. These players operate in very highly competitive environment and thus adopts various strategies to stay competitive in the market. Mergers and acquisitions, new product launch, geographical expansion, manufacturing capability expansion are some of the majorly adopted strategies by these market players. For instance, in July 2018, AdvancedMD, Inc. acquired Marietta, Georgia-based Nuesoft Technologies “NueMD”, a SaaS platform providing practice management, clinical and medical billing applications to simplify all aspects of running an independent practice. This acquisition was done to increase the company’s geographical presence in North America.
North American Oncology Information System Market Segmentation
By Oncology Type
- Medical Oncology
- Surgical Oncology
- Radiation Oncology
By End-User
- Hospitals & Clinics
- Diagnostic Centers
- Others (Research Institute)
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North American Oncology Information System Market Regional Analysis
- US
- Canada
