Siemens healthineer (Germany) and Koninklijke Philips N.V. (The Netherland) are Leading Players in the Oncology Information System Market
The global oncology information system market is estimated to grow at a CAGR of 7.6 % during the forecast period. The market is projected to reach USD 11.1 billion by 2027 from USD 7.7 billion in 2022. The growth of this market is primarily driven by factors such as increasing need to curtail oncology care cost, growing adoption of electronic health records (EHR) and other oncology healthcare IT solutions to improve care quality, increasing incidence and prevalence of cancer, favorable government mandates and support for oncology information systems, potential benefits of and technological advancements in oncology information systems.
Prominent players in the oncology information system market are Koninklijke Philips N.V. (Netherlands), McKesson Corporation (US), Siemens Healthineers (Germany), Elekta AB (Sweden), Epic Systems Corporation (US), IBM (US), Cerner Corporation (US), Advanced Data Systems (US), Bogardus Medical Systems, Inc (US), F. Hoffmann-La Roche AG (Switzerland), Altai Oncology, LLC. (US), GE Healthcare (US), Accuray Incorporated (US), OPTUM (a part of UnitedHealth Group) (US), Allscripts Healthcare Solutions, Inc. (US), MICA Information Systems, Inc. (US), CureMD Healthcare (US), EndoSoft LLC (US), MIM Software Inc. (US) and RaySearch Laboratories AB (Sweden).
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Siemens healthineer (Germany) will held leading position in oncology information system market. In April 2021, Siemens Healthineers completed the acquisition of all shares in Varian Medical Systems, Inc. and Varian is a world leader in the field of cancer care, with innovative solutions especially in radiation oncology and related digital solutions and applications. Varian has offered a complement to Siemens Healthineers’ leading position in oncology information system market. Since closing of the acquisition, Varian‘s business constitutes a separate segment within Siemens Healthineers portfolio. The company’s high-quality oncology information solutions and its presence across the globe help sustain its leading position in the oncology information systems market.
Koninklijke Philips N.V. (The Netherland) will have significant share in oncology information system market. The company provides a wide range of solutions under its Diagnosis & Treatment business segment. The company provides oncology information system solutions and related services across a globe. For instance, in 2021, Philips provided its Oncology solution to a newly established top-tier private hospital Yili Chuanxin Oncology hospital in Xinjiang, in China. The solution includes IntelliSpace Digital Pathology and IntelliSpace Portal for advanced visualization and analysis. The company is mainly focusing on organic strategies such as product launches to maintain and improve its share in the market. For instance, in November 2020, the company launched a Medical Image Analysis System IntelliSpace Portal 12, which is an advanced radiology visualization platform and Next-generation AI powered Digital Pathology Suite - IntelliSite to enable precision diagnosis for oncology. Koninklijke Philips N.V. also pursues the inorganic strategies such as partnerships and collaborations. In this regard, in June 2021, the company announced partnership with Elekta for the development of advance comprehensive and personalized cancer care through precision oncology solutions.
Elekta (Sweden) offers an extensive range of products, including radiosurgery & brachytherapy solutions and radiotherapy systems. Elekta offers its radiotherapy delivery systems and radiotherapy planning systems to more than 6,000 hospitals worldwide. The company caters to various end users, such as hospitals and cancer research institutes. It has a strong presence and wide industry coverage in North America, Europe, and other regions. The company has a sound customer services support set up, which helps it to strengthen its customer relationships and presence in the market. During the last three years, the company has significantly invested in R&D activities. Elekta focuses on both organic and inorganic growth strategies to enhance its footprint in the global oncology information systems market. Elekta is a global leader in radiotherapy solutions, at present Elekta has an installed base of more than 6650 systems globally.
Related Reports:
Oncology Information System Market by Product and Service, Application, End User (Hospitals & diagnostic imaging centers, Ablation & Cancer Care Centers, Government Institutions and Research Facilities) - Global Forecast to 2027
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