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Cancer registry software assists in collecting data about cancer patients. It is a computerized database that uses software solutions to organize, manage and store data of cancer patients. Based on WHO report, cancer is the leading cause of death worldwide, accounting for nearly 10 million deaths in 2020, and 17 million new cases were diagnosed in 2018. The implementation of cancer registry software is anticipated to increase owing to numerous advantages such as efficient workflow management, automated case registries, the growing incidence of cancer. Also, many government organizations are taking initiatives, and providing support to build cancer registries is expected to boost the market growth.
Globally, high adoption of electronic health records (EHR) and other e-health solutions like ePrescribing, telemedicines, and others is the key factor promoting the expansion of the market. Combined with this, cloud-based patient registry solutions have emerged as an efficient tool with enhanced data accessibility and real-time analysis for end-users and are user-friendly.
On the other hand, concerns related to data security may pose a challenge to the market’s growth. According to Proteus Breach, healthcare sector saw a massive 41.4 million patient records breached in 2019. Such risk factors may hamper the market to a certain extent. Moreover, Governments of numerous countries are currently seeking to address and manage the combined needs of privacy and ease of use of information.
Key Market Driver -
Growing Adoption of EHRs (Electronic Health Records) and Other e-Health Solutions to Assist Market Growth
Key Market Restraint -
Privacy and Data Security Concerns to Hamper Market Growth
Globally, the cancer registry software market can be segmented into software, database, deployment, functionality, end-user, and region. Based on software type, the market can be divided into standalone software, integrated software. On the basis of a database, the market can be segmented into public data, commercial data. Based on deployment, the market has been segmented into cloud-based and on-premise, by functionality market is segmented into cancer reporting to meet federal regulations, patient care management, product outcome evaluation, medical research, and clinical studies. Based on end-user segmentation, the market can be categorized into government organizations, hospitals & medical practices, research centers, pharmaceutical, biotechnology companies, and private players. Geographically, the cancer registry software market can be segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
Some of the major companies that are present in the market are IBM Corporation, Conduent Inc, McKesson Corporation; IACR Official Website, Elekta AB, Rocky Mountain Cancer Data Systems, C/Net Solutions and others prominent players
Based on the segmentation of region, market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is anticipated to lead the market in 2020, and is estimated to retain its leading position over the forecast duration. Advanced infrastructure in the region, and growing investment in research and development for innovation are the key factors promoting the expansion of cancer registry software market . According to NIH(National Institutes of health), cancer is the second leading cause of death in the United States. The European region is estimated to secure the second leading position in the market due to factors such as availability of funding for research and strong research and development base. These aforementioned factors are collectively estimated to augment the market growth for Europe in the coming years.
Asia Pacific is projected to witness high market growth owing to shift of many pharmaceutical companies to lower cost manufacturing countries such as India and china. The market growth in the region is also supplemented by rising awareness about the benefits of EHRs, improvements in healthcare infrastructures. On the other hand, the market in countries of Latin America and Middle East and Africa are likely to grow at a slower rate as compared to other regions due to absence of number of healthcare facilities to utilize advanced software solutions due to weak infrastructure.
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