The cancer patient registry software market is projected to reach USD 91 million by 2024 from USD 55 million in 2019, at a CAGR of 10.4%
NEW YORK, April 2, 2019 /PRNewswire/ -- Cancer patient registry software market projected to grow at a CAGR of 10.4%
The cancer patient registry software market is projected to reach USD 91 million by 2024 from USD 55 million in 2019, at a CAGR of 10.4%. Factors such as the growing prevalence of cancer, favorable government initiatives, rising adoption of EHRs, growing use of cancer patient registry data for post-marketing surveillance, and rising pressure to improve the quality of care and reduce healthcare costs are driving the growth of this market. However, privacy and data security-related concerns may restrain the growth of this market to a certain extent.
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The on-premise model segment accounted for the largest share of the cancer patient registry software market, by deployment model, in 2018
Based on deployment model, the cancer patient registry software market is segmented into on-premise and cloud-based models.The on-premise model segment dominated this market in 2018 primarily due to the higher adoption of on-premise solutions among end users as a result of advantages such as high security, low risk of external attacks and data breaches, and control over software upgrades.
Also, this model enables flexibility of the connection bandwidth—a very important feature in cases where a client is dealing with heavy data file transfers.
Commercial databases accounted for the largest share of the cancer patient registry software market, by database type, in 2018
Based on the type of database, the cancer patient registry software market is segmented into commercial and public databases.The commercial databases segment dominated this market in 2018 owing to the ease of expansion of these databases, which allows a large user base to access, add, or modify information simultaneously.
Also, owing to the advantages offered by commercial databases, a large number of pharmaceutical and medical device companies are opting for these databases.
The medical research & clinical studies segment to witness the highest growth in the cancer patient registry software market, by functionality, during the forecast period
Based on functionality, the cancer patient registry software market is segmented into cancer reporting to meet state and federal regulations, patient care management, product outcome evaluation, and medical research & clinical studies. The ability of cancer registries to provide data complementary to that obtained from trials for supporting medical research and clinical studies is one of the major factors driving the demand for cancer patient registry software for medical research and clinical studies.
North American market to witness high growth during the forecast period
In 2018, North America was the largest regional market for cancer patient registry software.This market is also estimated to grow at a higher CAGR during the forecast period.
The high growth of this regional market can be attributed to the high burden of cancer, government funding initiatives to encourage the development of cancer registries, high investments in healthcare IT, presence of major cancer registry software-developing players, and the high adoption rate of these solutions in the region.
The primary interviews conducted for this report can be categorized as follows:
• By Company Type: Tier 1 - 28%; Tier 2 - 19%; and Tier 3 - 53%
• By Designation: C-level - 51%; D-level - 28%; and Others - 21%
• By Region: North America - 70%; Europe - 30%
List of companies profiled in the report
• Elekta (Sweden)
• Electronic Registry Systems, Inc. (US)
• Onco, Inc. (US)
• C/NET Solutions (US)
• Rocky Mountain Cancer Data Systems (US)
• McKesson Corporation (US)
Research Coverage
This report aims at estimating the size and future growth potential of the market across different segments, such as type, deployment model, database, functionality, end user, and region. Furthermore, the report also includes an in-depth competitive analysis of the key market players, along with their company profiles, recent developments, and key market strategies.
Key Benefits of Buying the Report
This report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall cancer patient registry software market and its subsegments.Also, this report will help stakeholders to better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies.
It will also enable stakeholders to understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.
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