With COVID-19 resulting in the economic fallout, numerous economies are working on game-changing improvements to protect their employees and clients. While focusing on the ongoing challenges, the leaders are embracing new plans in order to manage and stay afloat in this competitive environment.
Global Cancer Informatics Market is a comprehensive information solution that explores the crucial technologies, informatics trends of applying computational biology to cancer research and care. In Cancer Informatics, computer & information science and healthcare interconnect to acquire, store and use information regarding cancer thoroughly & efficiently.
According to the MarkNtel Advisors’ research report, “Global Cancer Informatics Market Analysis, 2021,” the market is likely to grow at a CAGR of around 7.5% during 2021-26. The growth of the cancer informatics market attributes to the rising prevalence of cancer, surging costs of cancer treatment, and mounting focus on reducing medical errors & readmission rates. However, the high costs involved while installing these solutions are amongst the most prominent challenges for the market.
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The Final Report will cover the impact analysis of COVID-19 on this industry: Global Cancer Informatics Market and Revenue Analysis Insights by Latest Trends, Top Key Players, Future Growth, Revenue and Demand Forecast (2021-2026)
The outbreak of the COVID-19 pandemic has adversely affected cancer patients as most cancer patients are of older age and immunosuppressed. Additionally, lockdown imposition, social distancing measures, and the need for isolation in the pandemic-frenzied world have been convenient factors for delayed follow-up and postponement in routine screening procedures. However, the market players are focused on developing cloud and AI-based technologies to control the impact of the COVID-19 pandemic on the cancer informatics market.
Medical Application Accounted for the Largest Market Share
Based on the Application, the market classifies into medical, surgical, and radiation applications. The Medical application acquired the largest share in the global cancer informatics market in the previous year. The growth attributes to the rising usage of immunotherapy & chemotherapy and snowballing cancer informatics to manage & analyze patient information and predict treatment, thereby improving survival rates and presenting growth opportunities for the market, reveals MarkNtel Advisors in their research report, “Global Cancer Informatics Market Analysis, 2021.”
Electronic Health Records (EHRs) Dominated the Market
Electronic Health Records accounted for the largest market share in the global cancer informatics market in the previous few years. Electronic Health Records are electronic versions of a patient’s medical history consisting of their relevant clinical data under a particular provider. With the help of EHR, the medical record-keeping procedure becomes more centralized and easily accessible.
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The Final Report will cover the impact analysis of COVID-19 on this industry: Global Cancer Informatics Market and Revenue Analysis Insights by Latest Trends, Top Key Players, Future Growth, Revenue and Demand Forecast (2021-2026)
Additionally, EHR offers numerous other benefits, such as enhanced quality of patient care, reduced health care costs, and an easy transfer of a patient’s information among providers, thereby contributing to the growth of the cancer informatics market in the forecast period.
North America Grabbed the Largest Market Share
Region-wise, North America held the largest market share in the global cancer informatics market in the previous year due to the rising adoption of advanced technologies in the healthcare sector and mounting investments by pharmaceutical industries. The United States dominates the North American region due to the surging number of cancer patients and massive investments in cancer R&D.
Emerging Technological Advancements Drives the Market Growth
Soaring adoption of advanced technologies in healthcare leads to enhanced diagnostic methods for better treatment and reduced readmission rates. Further, the integrated diagnostic approach helps accurately formulate the way for precision medicine, which would also help provide appropriate treatments and reduce errors in the clinical workflow.
Competitive Landscape
According to MarkNtel Advisors, the major leading players in the global Cancer Informatics market are Elekta ab, Varian Medical Systems, Accuray Incorporated, Cerner Corporation, RaySearch Laboratories, Flatiron, Oncology Analytics, Inc, Hologic Inc., F.Hoffmann-La Roche Ltd., McKesson Corporation, etc.
Key Questions Answered in the Market Research Report:
1. What are the overall market statistics or market estimates (Market Overview, Market Size- By Value, Forecast Numbers, Market Segmentation, Market Shares) of the Global Cancer Informatics Market?
2. What are the region-wise industry size, growth drivers, and challenges?
3. What are the key innovations, opportunities, current & future trends, and regulations in the Global Cancer Informatics Market?
TABLE OF CONTENT
1. Introduction
1.1. Product Definition
1.2. Research Process
1.3. Market Segmentation
1.4. Assumptions
2. Preface
3. Executive Summary
4. Impact of COVID-19 on Global Cancer Informatics Market
5. Global Cancer Informatics Market Dynamics
5.1. Growth Drivers
5.2. Challenges
5.3. Impact Analysis
6. Global Cancer Informatics Market Policies and Product Standards
7. Global Cancer Informatics Market Trends & Insights
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