PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1235934
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1235934
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According to Stratistics MRC, the Global Cancer Registry Software Market is accounted for $59.72 billion in 2022 and is expected to reach $112.32 billion by 2028 growing at a CAGR of 11.1% during the forecast period. The cancer registry software automates data collecting for national and state registries, which aids in tracking the effectiveness of various treatment regimens. Furthermore, the data collected by the state registries aid in better understanding and treatment of the condition. The information gathered is critical in identifying risk factors such as tobacco usage, sun exposure, or environmental risks such as chemical and radiation exposure. This data is also required for determining where screening and treatment options should be tracked and improved. Furthermore, registry data can help research institutes measure the effectiveness of cancer management, treatment, and preventive programmes.
According to Proteus Breach, healthcare sector saw a massive 41.4 million patient records breached in 2019.
Breast, cervical, and prostate cancers are extremely common in the populations of the United States and Europe. To track trends and examine the possible causes of cancer, medical researchers require up-to-date data on cancer, such as the population diagnosed with cancer, patients undergoing treatment, and mortality rate. Healthcare professionals require cancer incidence statistics in order to make judgements about the amount of equipment and drugs to purchase for treatment and awareness. The increased usage of cancer registry systems for data collecting, storage, and management would have a favourable impact on the market focus during the projection period.
Data privacy and security issues, as the system collects highly personal data, will be a major barrier for the cancer registry software market over the projection period. Cancer registries collect information such as patient demographics, tumour features, treatment, and disease outcome. Government agencies are concentrating on the implementation of new regulations and laws to ensure the safe management of information. Various federal regulations are also listed in the Health Insurance Portability and Accountability Act and the US Department of Health and Human Services (HHS) for the protection and privacy of consumer health data.
Clinical trials are being conducted by pharmaceutical companies and research organisations in order to develop novel cancer treatment techniques. Clinical trials and in-depth analyses of registry data during clinical research aid in the identification of proper monitoring of cancer causes and therapies. Cancer registries are used by research institutes and pharmaceutical corporations as a follow-up source during phase III and phase IV clinical studies. The development of sophisticated cancer registry software assists public and private cancer registry organisations in improving data quality. This will help the market's expansion in the coming years.
The lack of connectivity between EHR systems and independent cancer patient registration software has impeded the development of novel alternatives. These types of data exchange problems are expected to continue to necessitate manual methods for importing or exporting patient records between different EHR systems until a universal health information exchange system is built throughout a country/region. As a result, broad adoption of EHRs that are not fully compatible poses a significant problem for cancer patient registry software suppliers.
Because of the COVID-19 pandemic, cancer diagnoses declined considerably during the pandemic, as did chemotherapy, surgery, and other supporting cancer treatments. Doctors were urged to postpone post-endoscopic resection, surgical resection of cancer, and post-polypectomy cancer. They also recommended that screening for high-risk cancer patients be postponed due to the risk of infection, which resulted in a reduction in treatment operations. A government commitment to fund future registry operations as a disease control asset, along with a shift towards electronic reporting systems, would help to secure the global sustainability of cancer surveillance.
The integrated software segment is estimated to have a lucrative growth, due to the increasing demand for integrating software with a regional oncology network. This will aid in tracking affected geographic locations and evaluating the treatment intervention. It will also contribute in the collection of data on illness burden and the success of treatment programmes. Furthermore, linkage with screening archives is required to identify screen-detected cancers and improve evaluation procedures. These factors are projected to drive the expansion of this segment in the next years.
The commercial database segment is anticipated to witness the fastest CAGR growth during the forecast period, due to its advantage of data safety as compared to the public database. The commercial database complies with most federal requirements and codes. The data is also well-structured and simple to follow. Commercial technologies enable data transmission among government research agencies such as the Centers for Disease Control and Prevention (CDC) and central cancer registries.
North America is projected to hold the largest market share during the forecast period owing to the presence of developed infrastructure. The region's advanced infrastructure and increased investment in research & development for innovation are important factors driving the growth of the cancer registry software market. Cancer is the second highest cause of mortality in the United States, according to the National Institutes of Health (NIH). The rising incidence of cancer in this region, owing to cigarette use and a lack of physical exercise, among other factors, is fuelling market expansion.
Asia Pacific is projected to have the highest CAGR over the forecast period, owing to increasing government initiatives being undertaken in this region. In Japan, the Ministry of Health, Labour, and Welfare has launched projects to strengthen the country's healthcare infrastructure. China has also unveiled its 12th Five-Year Plan to improve the country's Regional Healthcare Information Networks (RHINs). Furthermore, the movement of pharmaceutical businesses to low-cost manufacturing countries such as China and India is moving the Asia Pacific industry forward.
Some of the key players profiled in the Cancer Registry Software Market include: IBM Corporation, McKesson Corporation, Himagine Solutions Inc., CONDUENT Inc., C/Net Solutions, Elekta AB, Rocky Mountain Cancer Data Systems, Ordinal Data Inc., Electronic Registry Systems Inc., Onco Inc., F. Hoffmann-La Roche Ltd, Netdox Health Pvt. Ltd. and Centers for Disease Control and Prevention
In March 2022, Elekta stated that National Health Service Supply Chain (NHSSC) had ordered multiple licenses for Elekta's ProKnow software solution, which centralizes and analyzes radiotherapy data in a secure, scalable platform, accessible to the NHS England's (NHSE's) radiation oncology facilities throughout the country.
In November 2018, Onco upgraded the OncoLog Version 4.4.0 to include the newest requirements mandated by NAACCR, AJCC, CoC and SEER.
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