Global Cancer Registry Software Market - 2021-2028

Market Overview

The global cancer registry software market size was valued US$ XX billion in 2019 and is estimated to reach US$ XX billion by 2028, growing at a CAGR of XX % during the forecast period (2021-2028).

A cancer registry software is an information system or computerized database to manage and collect the data associated with cancer patients. This data helps in the evaluation of trends and eventually enhances cancer patient care. As per the World Health Organization, cancer killed about 9.6 million people in 2018. The data demonstrates the need for cancer registry software and has facilitated the expansion of the global cancer registry software market in the forecast period. Initiatives taken by governments to increase the use of cancer registries have also augmented the market's frontiers.

Market Dynamics

The cancer registry software market growth is driven by increasing prevalence of cancer and favorable government initiatives, rising pressure to improve the quality of care and reduce healthcare costs, increasing adoption of EHRs, and growing use of cancer patient registry data for post-marketing surveillance.

Rise in the adoption of electronic health records (EHR) has driven the market

The surge in the adoption of electronic health records (EHR) is the critical constituent promoting the development of the cancer registry software market. Moreover, healthcare professionals are focusing on increasing the quality of concern for cancer patients. It will only be accomplished by analyzing the trends repeatedly and taking actions accordingly, thereby increasing cancer registry software.

Governments of numerous countries are taking initiatives to encourage the adoption of the cancer registry software. In addition to this, customization of standard software for patient registries facilitating automatic upgradation and multiple system usage has spiked the global cancer registry system's market. The development of new cancer registry software has further supported the market's growth.

For instance, Elekta has developed a novel cancer registry data administration software called METRIC. It displays various functions such as workflow management, remote abstracting, data validation, and population and careful analysis. These functions are carried out in a 24/7 guarded data center using 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 that includes status updates, history, schedules, control lists, and letters. Moreover, it has significantly reduced operating costs with the help of efficient workflow tools..

The availability of free software programs for cancer registry is driving the market growth

The availability of free software applications for cancer registries plays a crucial role in increasing the global cancer registry software market. Registry Plus is a suite of such free cancer registry software programs for individual or routine data collection. It includes a central registry database program called the CRS plus and a web application that collects cancer data across the internet. Moreover, it is submissive to the national standards, which has helped extensive adoption of this product.

Safety and privacy of the data may pose a challenge to the market's growth

Cancer patient registries include health report data that may include a broad array of demographic data and personal characteristics such as socioeconomic and marital status, formal education, developmental disabilities, cognitive capacities, emotional stability, gender, age, and race. Also, health data generally covers information about the patients' family members. As a result, in the circumstances of a data breach, the individual, confidential information of patients and third parties can come into the wrong hands. In the healthcare industry, ~30% of data breaks result in medical identity theft, mainly due to a lack of internal control over patient information, top management assistance, obsolete policies and schemes, non-adherence to existing ones, and inadequate resources personnel training. Governments of many countries in developed markets are currently trying to address and coordinate the consolidated needs of privacy and freedom of information.

COVID-19 Impact Analysis

Due to COVID, all the hospitals are given preference to the affected patients. Also, many hospitals are full due to the COVID-affected patients. The medical staff and paramedics are also busy in the treatment of COVID-positive patients. Thus there is a minimum use or no use of this software in the present situation. This factor will hamper the market growth in the forecast period.

Segment Analysis

By type, the cancer registry software market is classified into standalone software and integrated software.

Standalone Software segment is expected to grow at the fastest CAGR during the forecast period (2021-2028)

Standalone Software summarizes medical records into an electronic report of cancer diagnosis and treatment. It supports the abstraction of all data items in national standard data sets, including all text fields and any state-specific data items. Its output is an electronic abstract in the North American Association of Central Cancer Registries (NAACCR) data exchange layout format.

Central cancer registries can customize Abstract Plus to be used centrally and by hospitals, clinics, laboratories, and other cancer data sources. Clients should not make any changes (additions, modifications, deletions) to the database schema objects without written approval from CDC.

On the basis of database, the the cancer registry software market is classified into commercial databases amd public databases.

The commercial databases segment are expected to dominate the cancer registry software market during the forecast period

Commercial databases for cancer is has the larger share in the forecast period. The database sourced from hospital registry data that are collected in more than 1,500 Commission on Cancer (CoC)-accredited facilities. NCDB data are used to analyze and track patients with malignant neoplastic diseases, their treatments, and outcomes. Data represent more than 70 percent of newly diagnosed cancer cases nationwide and more than 34 million historical records. Online reporting tools are available to provide your program with comparative benchmarks for similar programs aggregated throughout your state, region, and across CoC-accredited programs as a whole. Additional reporting tools provide quality related performance measures in comparison to aggregated CoC-accredited programs, including quality improvement, quality assurance, and surveillance measures.

Geographical Analysis

North America region holds the largest market share in the global cancer registry software market

North America region is dominating the global cancer registry software market accounted for the largest market share in 2020. Factors such as the high burden of cancer, government funding initiatives to encourage the development of cancer registries, high investments in healthcare IT, the presence of significant cancer registry software development market players, and the high adoption rate of these solutions in the region are contributing to the larger share of North America in the cancer registry software market.

In the US, federal agencies such as the NIH, CDC, CMS, and AHRQ, along with several state agencies, are focusing on developing cancer patient registries to determine the long-term outcomes of agents, devices, groups of drugs, or procedures. The National Program of Cancer Registries (NPCR), administered by the US CDC, funded 50 cancer registries in the US in 2018 to promote the monitoring of the cancer burden at the state and national levels and evaluating activities in cancer prevention and control.

Competitive Landscape

The cancer registry 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 Siemens Healthineers , Onco, Inc, C/Net Solutions, Elekta AB, Rocky Mountain Cancer Data Systems, Electronic Registry Systems, Inc, Mckesson Corporation, Ordinal Data, Inc, Conduent, Inc, IBM, Himagine solutions inc among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the cancer registry software market globally.

Siemens Healthineers

Overview: Siemens Healthineers is a Germany-based company that provides technology to the healthcare sector companies. The Company has a wide range of products and services in laboratory and point of care diagnostics, diagnostic and therapeutic imaging and molecular medicine. It supplies medical technology and software solutions and clinical consulting services. Additionally, the Company is expanding its digital health and business services through increasing precision medicine, transforming care delivery, improving patient experience, and digitalizing healthcare to enable healthcare providers to increase value.

Product Portfolio: The Company's portfolio comprised of medical imaging, laboratory diagnostics, point-of-care testing, and Healthcare IT, accessories and equipment's, and other areas.

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• Visualize the composition of the cancer registry software market segmentation by type, deployment model, database and end user highlighting the key commercial assets and players.
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