Cancer registry software market size will reach US$117.65 billion

London, April 14, 2022 (GLOBE NEWSWIRE) — Precedence Research, a newly released report on “Cancer Registry Software Market – Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook and Forecast 2022-2030”.

Cancer registry software is a database or information system that helps in collecting data about cancer patients. One of the major drivers of the global cancer registry software market is the rising incidence of cancer across the world. Cancer registry software helps in tracking and monitoring the health of cancer patients. Researchers and healthcare professionals can use the data produced by cancer registry software to create therapies for the treatment of cancer. As a result, over the next few years, the global cancer registry software market is expected to grow. Additionally, during the forecast period, the expanding geriatric population would drive the growth of the cancer registry software market.

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Regional overview

North America is the largest cancer registry software market segment in terms of region. The United States dominates the cancer registry software market in the North America region. Major industry players operating in the cancer registry software market are found in the North American region. Due to the increasing incidence of cancer in this region, the cancer registry software industry is growing. Additionally, cancer registry software is in high demand in North America due to large technology investments.

Asia-Pacific is the fastest growing region in the cancer registry software market. Emerging countries like Japan and China are working hard to develop cancer registry software industry. Additionally, major companies in the market are partnering with government agencies to grow the healthcare industry. The Asia-Pacific cancer registry software market is growing due to this aspect.

Scope of the Cancer Registry Software Market

Report attributes Details
Market size in 2021 $53.76 billion
Rate of growth 9.1% CAGR
Fastest growing region Asia Pacific
Biggest earner North America
Year of reference 2021
Forecast data 2022 to 2030
Companies covered Rocky Mountain Cancer Data Systems, Onco Inc., Elekta AB, IBM Corporation, C/Net Solutions, Ordinal Data Inc., McKesson Corporation, Himagine Solutions Inc., Registry Electronic Systems Inc., CONDUENT Inc.

Report Highlights

  • Based on software, the standalone segment holds the largest market share in the global cancer registry software market. The standalone cancer registry software has the latest and most sophisticated features. It is very simple to configure and use. Standalone cancer registry software also saves money on overhead.
  • Based on the deployment model, the on-premises segment holds the largest market share in the global cancer registry software market. The onsite cancer registry software is mainly used by research institutes that do cancer research. Advanced features are integrated with the on-site cancer registry software, simplifying data registration.
  • On the basis of components, the commercial segment holds the largest market share in the global cancer registry software market. Unlike a public database, data stored in a commercial database is much more secure. Trade database data can be tracked easily.
  • Based on end-use, government and third-party segment holds the largest market share in the global cancer registry software market. Cancer registry software is widely adopted by governments in both developed and developing countries. This program helps in the follow-up and monitoring of cancer patients in their region.

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Market dynamics

Drivers

Growth cancer prevalence

Cancer is considered a very serious disease that can lead to the death of the person. According to the World Health Organization (WHO), the number of cancer patients is increasing at a rapid rate. To stem the effects of this disease, researchers are constantly working to discover new treatments and diagnostics. Thus, the increasing prevalence of cancer is driving the growth of cancer registry software market.

Constraints

Lack of software integration

Integration of cancer registry software in hospitals and health centers is quite difficult. Hospitals use traditional type systems to record and track the health and well-being of patients. Therefore, for them, it is difficult to adopt the latest technology and advanced software. As a result, the lack of software integration is limiting the growth of the global cancer registry software market over the forecast period.

Opportunities

Growing government initiatives

Governments around the world are taking constant initiatives against cancer. Every year, cancer kills many people. The government is also collaborating with health centers and research centers to develop therapies for the treatment of cancer. This leads to growth prospects for the market. Thus, growing government initiatives are creating lucrative opportunities for expanding the cancer registry software market.

Challenges

Data security and privacy issues

The cancer registry software contains a wide range of information about the patient who is suffering from cancer. Hackers can easily hack information through a particular system or software. Leakage of confidential information can have adverse consequences for the healthcare sector. Thus, data security and privacy concerns are a major challenge for the market.

RECENT DEVELOPMENTS

  • The Lung Cancer Foundation and the American Lung Association partnered in February 2018 to develop the Lung Cancer Patient Registry, which allows users to save extensive patient information.
  • The Kentucky Cancer Registry entered into an agreement with the National Cancer Institute in June 2018 and received $2.6 million for its commitment to the National Cancer Institute’s SEER program.

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Market Segmentation

By software

  • Interdisciplinary
  • Specific

By deployment model

By component

By end use

  • Government and third parties
  • Private payers
  • Hospital and doctor’s office
  • Pharmaceutical biotechnology and medical device companies
  • Research institutes

By feature

  • Cancer reporting compliant with state and federal regulations
  • Patient Care Management
  • Evaluation of product results
  • Medical research and clinical studies

By geography

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa (MEA)

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