Oncology EMR Software Market is Segmented By Type (Cloud-based EMR Software, Web-based EMR Software), By Application (Radiation Oncology, Chemotherapy Oncology), By End-user(Hospital, Physician Offices. Others ) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Report Overview
Oncology EMR Software Market is expected to reach at a CAGR of 7.7% during the forecast period (2024-2031).
Oncology EMR Software is a digitized version of paperwork in an oncologist’s office. They contain the medical and treatment history of patients at a practice. EMR Software helps clinicians track historical data, identify patients who are due for checkups, check on patients’ health levels (such as blood pressure or vaccinations), and monitor and improve the quality of care in practice.
Market Summary
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Metrics |
Details |
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Market CAGR |
7.7% |
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Segments Covered |
By Type, By Application, and By Region |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
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Fastest Growing Region |
Asia Pacific |
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Largest Market Share |
North America |
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Market Dynamics
Oncology EMR Software Market growth is driven by the increasing use of Oncology EMR Software in Chemotherapy Oncology, Radiation Oncology, technological advancements and low maintenance and wider accessibility.
Increasing usage of electronic medical record in healthcare industry is expected to drive the growth in the forecast period
Electronic medical record (EMR) systems are becoming increasingly popular as the healthcare industry moves toward digitization. Many government initiatives, such as encouraging physicians to adopt electronic health records, investing in training the healthcare information technology workers and establishing regional extension centers to provide technical and other advice, trigger the EMR market’s growth. For instance, in March 2021, the European Commission recommended a European electronic health record exchange format to unlock the flow of health data across borders. This policy helps European citizens securely access and exchange their health data wherever they are in Europe.
Moreover, Elekta has developed a novel cancer registry data administration software called METRIC. It displays workflow management, remote abstracting, data validation, population and careful analysis. These functions are carried out in a 24/7 guarded data center using an abstract configuration follow-up manager. This tool has gained immense popularity in the global cancer registry market, mainly due to its ease of use. It offers simple navigation and efficient follow-up, including status updates, history, schedules, control lists, and letters. Moreover, it has significantly reduced operating costs with the help of efficient workflow tools.
Data security and privacy concerns is likely to hinder the market growth
A major concern related to cloud solutions is that the data hosted by vendors is not as secure as data stored on-premise. Patient information is considered sensitive, and a high degree of privacy needs to be maintained so that this information is accessible to authorized users only. Though the cloud offers various benefits and security measures, the data stored on the cloud is still prone to cyber-attacks. With the growing volume of patient data and rising initiatives towards digital transformation in healthcare, data security and privacy concerns are increasing rapidly. Moreover, patients themselves are concerned about the security of their data, which adds to the necessity of maintaining security standards for data protection. Public clouds face similar security issues as traditional IT systems and are thus not preferred. Although private clouds offer more secure access protocols and systems, the healthcare industry is still skeptical about the data security of a private cloud.
COVID-19 Impact Analysis
The main challenge for the healthcare system in many countries was to limit the spread of the COVID-19 among people and provide the best care to infected patients and decrease the number of possible deaths. A profound impact on the electronic medical records market was observed as well. Electronic medical record systems have been designed to track and bill patients versus providing optimal care, which is the need of an hour due to the rising number of COVID-19 patients. Thus, several companies are offering new electronic medical records-based products. For instance, in March 2020, Health Gorilla, a leader in clinical data interoperability, announced that COVID-19 test ordering is now available through its platform. Healthcare providers using Gorilla's web application, a Health Gorilla-partnered developer, or a Health Gorilla-integrated EMR can place COVID-19 test orders and receive test results from LabCorp and Quest.
Market Segment Analysis
The cloud-based EMR software segment is expected to hold the largest share in this market segment
The cloud-based solution is a comparatively newer approach. It is mostly used by organizations that lack the internal infrastructure to support them. The installation cost for these systems is lower than the client server-based systems. Moreover, this software eradicates the need for in-house maintenance, which is likely to be the prime factor driving their increasing demand. The cloud-based model makes the software extremely flexible regarding scalability (pay-as-you-go storage utilization). It simplifies and consolidates storage resources to reduce costs and enhance workflow by eliminating departmental silos of clinical information.
Large and reputed vendors are entering the cloud market. The cloud infrastructure also guarantees true disaster recovery and business continuity solutions to support the quality of patient care. Hence, cloud-based EHR is expected to register good growth in the market.
Additionally, the increasing volume of data and growing demand for cloud storage due to COVID-19 are also expected to augment the demand globally. In July 2020, Allscripts and Microsoft Corp. extended their long-standing strategic alliance to enable the expanded development and delivery of cloud-based health IT solutions. The five-year extension will support Allscripts’ cloud-based Sunrise electronic health record. Hence, the factors mentioned above are expected to drive segment growth over the forecast period.
Market Geographical Share
North America region holds the largest market share of global oncology EMR software market
Some of the factors which are driving the market growth in North American region include technological advancements, high investments in healthcare by the government and private sector and the presence of key market players.
The healthcare IT market in the United States is one of the most established markets, compared to other geographical regions. Additionally, most hospitals and clinics in the region have widely implemented EHR solutions, due to stringent regulatory norms. Canada and the United States are the leading countries in this region that have implemented EHR systems. For instance, in March 2021, TELUS Health revealed the next advancement in the digital integration of its employer-focused virtual care service, Akira by TELUS Health, with its electronic medical records (EMRs).
Furthermore, several companies are starting various strategies like collaboration, new product launch, merger and acquisition in order to maintain and increase their market share. For instance, in February 2021, Northern Inyo Healthcare District collaborated with Cerner Corporation to transform its Electronic Health Record (EHR). The collaboration involves Northern Inyo Healthcare District moving to an updated electronic system that supports physicians, nurses, and clinicians to share data across the district’s multiple offices.
Market Competitive Landscape
The global oncology EMR software market is moderately competitive with presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include TouchWorks EHR, Centricity EMR, PointClickCare, MDVision PM EMR, Amazing Charts, Cerner Corporation, NextGen Healthcare, InteGreat HER, CampDoc and InSync EMR.
Key Companies to Watch
Cerner Corporation
Company Overview: Cerner Corporation is an American supplier of health information technology services, devices, and hardware. As of February 2018, its products were in use at more than 27,000 facilities around the world. The company had more than 29,000 employees globally, with over 13,000 in Kansas City, Missouri.
Product Portfolio: It includes product like Lights on Network EHR.
