Oncology Information System Market Regional Analysis:
North American Market Insights
North America region is likely to hold more than 35% market share by 2035. The growth of the market can be attributed majorly to the availability of advanced healthcare infrastructure, and the rapidly growing elderly population in the region. As per the Rural Health Information Hub, as of June 2019, 46 million adults aged 65 years and above were living in the United States. By 2050, the number is calculated to reach a value of almost 90 million. In addition, escalating research and development activities for developing patient-centric oncology information systems are also predicted to aid the region’s market growth. Moreover, the presence of a strong healthcare facility in the North American region coupled with the availability of major key players is also estimated to positively contribute towards market growth in the next few years.
APAC Market Insights
Asia Pacific region is estimated to capture over 29% oncology information system market share by 2035. The primary reason for market growth in the region is the escalation in the occurrence of cancer and tumors among the population which needs proper treatment and efficient management of documentation and information. The National Library of Medicine stated that the occurrence of cancer in Asia Pacific was calculated to be 169.1 per 1,00,000, which is equivalent to almost 49.3% of the global cancer incidence in 2020. The most common cancer was lung (13.8%), followed by breast (10.8%), and colorectal (10.6) respectively. Apart from the other factors, the rising favorable initiatives to promote digital health and proper hospital information system is also anticipated to impetus robust revenue generation in the region.
Europe Market Insights
Further, European region is estimated to hold significant revenue share by 2035. The continuous technological advancement is promoting the usage of electronic medical records to use health information and manage big amounts of data related to patients is considered to be the major factor for the market expansion in the region. In addition, the increased healthcare expenditure owing to the surge of disposable income along with the rising focus to modernize healthcare infrastructure is projected to bring favorable opportunities for market growth.
