The study draws a forecast of the growth of the Oncology Informatics market by evaluating
the market size, share, demand, trends, and gross revenue of the 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.
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.
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 Asia Pacific region is anticipated to be seeing
substantial growth as a result of changes in lifestyles. The increasing
incidence of cancer among people is anticipated to propel the cancer
immunotherapy market's growth on a global scale. The cancers with the highest
levels of mutations include melanoma, lung, bladder, stomach, and esophageal
cancer, and it is highly prevalent in the Asia Pacific region.
Key participants include 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., and McKesson Corporation, among others.
Regional
scope- North America; Europe; Asia Pacific; Central & South
America; MEA
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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