Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
The Global Oncology Informatics market is bolstering the growth owing to technological advancement and the need for reducing medical cost
The global oncology informatics market has the potential to grow with USD 8.24 billion with propelling CAGR in the forecast period from 2020-2027. Factors driving the market demand for oncology informatics are increasing cardiovascular diseases, increases medical treatment costs, and moving technology is driving the healthcare industry.
Cancer treatment is a medical field that requires the integration of large amounts of data in the decision-making process. Data integration faces many challenges, including risk assessment, tumor staging, and coordination among specialists in the team.
Therefore, in the coming years, computer analysis and modeling tools can be used to integrate data in multiple formats provided by high-throughput technologies (such as genomics, proteomics) to avoid overtreatment and achieve personalized disease management.
Moreover, the comparison of multiple data sources in the clinical workflow can improve the accuracy of diagnosis and treatment and optimize cost-effectiveness. Oncology informatics helps in advancing the development of cardiovascular and cancer medicine requires intelligent IT tools and interdisciplinary data processing strategies.
Type overview in the Global Oncology Informatics Market
Based on the type, the global oncology informatics market segmented into Electronic Health Records (EHRs), Population Health Management (PHM), Clinical Decision Support System (CDSS), Drug Discovery and Development Informatics. The clinical decision support system segment accounted for the largest share in the global oncology informatics market. It is mainly to the field of cardiovascular medicine, and integrated decision support tools can not only improve diagnosis and treatment results and work efficiency but also save costs. Also, the number of patients with cardiovascular diseases is increasing, and the related knowledge base and the disease data that doctors need to deal with are also growing. Thus, CDSS will help in analyzing patient disease better and improves its treatment and recovery process.
Application overview in the Global Oncology Informatics Market
Based on the application, the global oncology informatics market segmented into Breast Cancer, Prostate Cancer, Colorectal Cancer, Cervical Cancer, Others. Colorectal cancer dominates the most significant share for the market oncology informatics. With the advancement of technology and integrated diagnostic methods helps in treating the inter and intratumor levels caused by colorectal cancer.
End-Users overview in the Global Oncology Informatics Market
Based on the end-user, the global oncology informatics market classified into Pharmaceutical Industry, Life Science Industry, Contract Research Organizations (CROs), Academic Institutes and Research Centers, Others. The research centers segment has dominated the largest share in the global oncology informatics market. The enhancement of medical treatment methods and integration of analytic tools helps in fueling the pharmaceutical sector, and investment in research and development of research centers is bolstering the market of the oncology informatics market.
Region overview in the Global Oncology Informatics Market
Based on geography, the global oncology informatics market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. Asia Pacific region is dominating the market share of the global oncology informatics market. It is mainly due to the rising development in the healthcare industry, the advancement of new technology, and analytics tools for treating cancer patients and improve their treatment process and recovery as well.
Global Oncology Informatics Market: Competitive Landscape
Companies such as Cerner Corporation, Change Healthcare, Elekta AB, F.Hoffmann-La Roche Ltd., Hologic Inc., IBM Corporation, Inspirata Inc., Koninklijke Philips N.V., Laboratory Corporation of America Holdings, McKesson Corporation, MIM Software, Inc. Oncology Analytics, Inc., PerkinElmer, Inc., RELX Group, Sirenas LLC, UnitedHealth Group, Inc., and Varian Medical Systems, Inc, and others are key players in the global oncology informatics market.