Cancer Registry Software Market
Number of pages: 100 | Report Format: PDF | Published date: March 10, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
|
Report Attribute |
Details |
|
Market Size Value in 2022 |
US$ 76.41 million |
|
Revenue Forecast in 2031 |
US$ 181.65 million |
|
CAGR |
10.1% |
|
Base Year for Estimation |
2022 |
|
Forecast Period |
2023-2031 |
|
Historical Year |
2021 |
|
Segments Covered |
Type, Database, Functionality, Delivery, End-user, and Region |
|
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment by Growth Plus Reports, the global cancer registry software market was valued at US$ 76.41 million in 2022 and is expected to register a revenue CAGR of 10.1% to reach US$ 181.65 million by 2031.
Cancer Registry Software Market Fundamentals
Cancer registry software is a tool used by medical professionals to gather and manage data related to cancer patients. The software is designed to help clinicians keep track of patient demographics, medical history, diagnostic tests, treatments, and outcomes. The registry software is crucial in tracking and analyzing cancer cases to develop effective prevention, treatment, and control strategies.
The software enables healthcare professionals to identify and monitor trends in cancer incidence, mortality rates, and survival rates, providing insight into the effectiveness of treatments and interventions. Cancer registry software also facilitates research studies by providing researchers access to a comprehensive database of patient information. The software is essential in advancing cancer research and improving patient outcomes by enabling medical professionals to make informed decisions based on the data collected. Software plays a crucial role in improving cancer treatment and outcomes by providing a centralized repository of patient information that can be used to identify and analyze trends, track patient outcomes, and support research efforts.
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Cancer Registry Software Market Dynamics
The rising prevalence of cancer cases is one of the major drivers for the revenue growth of the global cancer registry software market. For instance, according to WHO’s February 2022 factsheet, cancer is one of the leading causes of death globally, killing approximately 10 million individuals in 2020, i.e., one in six deaths. Moreover, the global cancer registry software market is driven by the rise in the need for efficient data management. The software enables healthcare professionals to easily and quickly collect, store, and retrieve patient information; thus, reducing the time and resources required for data management. This allows healthcare professionals to focus on patient care and research rather than administrative tasks. By providing healthcare professionals access to comprehensive patient information, the software enables them to make informed decisions about patient care and develop personalized treatment plans. This can lead to improved patient outcomes, including better survival rates and quality of life, thus fueling the revenue growth of the global cancer registry software market.
However, cancer registry software contains sensitive patient information, and healthcare professionals must take appropriate measures to protect patient data from unauthorized access or disclosure. Failure to maintain data privacy and security could result in legal and ethical issues and loss of patient trust. Another restraint is the potential for data quality issues. The accuracy and completeness of cancer registry data depend on the quality of data collection and management. Data entry errors, missing data, or inconsistent data can compromise the reliability and usefulness of the registry data. Healthcare professionals must ensure that data collection and management processes are standardized, and that staff is appropriately trained in data entry and quality control. Additionally, the cost of the software and data privacy and security are some of the restraints impeding the overall cancer registry software market revenue growth.
Cancer Registry Software Market Ecosystem
The global cancer registry software market is analyzed from six perspectives: type, database, functionality, delivery, end-user, and region.
Cancer Registry Software Market by Type
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Based on the type, the global cancer registry software market is segmented into standalone software and integrated software.
The standalone software segment dominated the market with the highest revenue share in 2022, attributed to its advanced functionality and easy-to-use tools. Standalone cancer registry software is designed to function independent of other healthcare information systems. Unlike integrated cancer registry software, which is typically incorporated into an electronic health record (EHR) system, standalone software operates as a separate entity. The primary advantage of standalone cancer registry software is flexibility. As it is not integrated with other healthcare systems, standalone software can be customized to meet the healthcare organization’s specific needs. This can include the ability to collect data from various sources, such as pathology reports, clinical notes, and billing records. These advantages contribute to the revenue growth of the standalone software segment.
The integrated software segment is expected to be the fastest-growing segment throughout the forecast period. Integrated cancer registry software is a type of software that is designed to be integrated into an EHR system. Cancer registry data is stored within the same system as other patient health information, such as medical history, test results, and treatment plans. Automating data collection and management is one of the important advantages of integrated cancer registry software. As cancer registry data is integrated into the EHR system, healthcare professionals can automate data entry and management processes, reducing the risk of errors and saving time. These factors contribute to the revenue growth of the integrated software segment.
Cancer Registry Software Market by Database
Based on the database type, the global cancer registry software market is segmented into commercial and public.
The commercial database segment dominated the market with the largest revenue share in 2022, attributed to its advantages of data safety compared to the public database. The commercial database includes software products designed to store and manage cancer patient data within a commercial database system. These products are typically developed and sold by software vendors for a profit. Healthcare organizations, research institutions, and government agencies may use them. It provides a reliable and scalable platform for managing large volumes of cancer patient data. Commercial database systems are often designed to handle complex data structures and can provide robust data analysis and reporting capabilities. Commercial database cancer registry software may also offer advanced security features, such as encryption and access controls, to protect sensitive patient data from unauthorized access or disclosure. These advantages contribute to the revenue growth of the commercial database segment.
Cancer Registry Software Market by Functionality
Based on the functionality, the global cancer registry software market is segmented into cancer reporting, patient care management, medical research, and product outcome evaluation.
The cancer reporting segment dominated the market with the principal revenue share in 2022, attributed to its cost-effectiveness and easy accessibility. The cancer reporting segment includes software products designed to help healthcare organizations and government agencies report and analyze cancer data. This may include features, such as automated data collection, cancer staging and classification, and reporting tools for generating cancer statistics and reports. It can provide users with powerful tools for analyzing and visualizing cancer data. This may help healthcare organizations and researchers identify trends and patterns in cancer incidence, mortality, and survival rates and evaluate the effectiveness of cancer prevention and treatment programs. These factors contribute to the revenue growth of the cancer reporting segment.
Cancer Registry Software Market by Delivery
Based on the delivery, the global cancer registry software market is segmented into on-premise and cloud.
The on-premise segment is a key player in the global market. Its largest revenue share in 2022 is attributed to enhanced data security and cost-effectiveness. On-premise includes software products installed and operated locally on the user’s servers and IT infrastructure. This contrasts with cloud-based or software-as-a-service delivery models, where the vendor hosts and manages software remotely. On-premise delivery cancer registry software provides users greater control and flexibility over their software and data. Users can customize the software to meet their needs and manage their data backups and security measures. It can also provide faster access to data and applications, as they are stored locally on the user’s servers. This can be particularly important for healthcare organizations requiring fast and reliable patient data access. These factors contribute to the revenue growth of the on-premise segment.
Cancer Registry Software Market by End-user
Based on the end-user, the global cancer registry software market is segmented into government organizations and third-party administration, pharmaceutical and biotechnology companies, hospitals and medical practices, private payers, and research centers.
The government organizations and third-party administration segment dominated the market with the largest revenue share in 2022. The government organizations and third-party include software products that are developed and maintained by government agencies or third-party organizations and made available to users for free or at a low cost. One of the key benefits of government and third-party cancer registry software is that it allows customers to obtain software and data at a lower price. This can be particularly important for smaller healthcare organizations or research institutions that may not have the resources to invest in expensive commercial software products. Additionally, government organizations and third-party cancer registry software are designed to comply with specific government or industry standards and regulations, such as those set forth by the National Cancer Institute or the Commission on Cancer. This can provide users greater confidence in the accuracy and completeness of the data the software manages. These factors contribute to the revenue growth of the government organizations and third-party segment.
Cancer Registry Software Market by Region
Geographically, the global cancer registry software market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America dominated the global cancer registry software market with the largest revenue share in 2022, attributed to the presence of key players, fast adoption of technology, and rising prevalence of chronic disorders. Additionally, companies across the region are continuously involved in partnerships, mergers, and acquisitions, which are also helping in the region’s revenue growth. For instance, in March 2021, Q-Centrix, a prominent player in clinical data management for the healthcare industry, announced its acquisition of CHAMPS Oncology, a software and services provider based in Cleveland. This move comes shortly after Q-Centrix purchased the Quantros Regulatory Reporting Manager (RRM) software division, a leading market player. Together with the development of the Q-Apps technology platform, the expansion of the Q-Centrix data warehouse, and previous acquisitions, these events suggest significant progress towards Q-Centrix’s goal of enabling hospitals to extract value from clinical data through the launch of the first SOC2 + HITRUST-certified enterprise-class clinical data management platform.
Cancer Registry Software Market Competitive Landscape
The prominent players operating in the global cancer registry software market are:
Cancer Registry Software Market Strategic Developments
The global cancer registry software market is expected to reach US$ 181.65 million by 2031.
The global cancer registry software market is projected to register a revenue CAGR of 10.1% during the forecast period from 2023 to 2031.
The rising prevalence of cancer cases and the need for efficient data management drive market growth.
In terms of revenue, North America accounts for the dominant market share. Moreover, Asia Pacific is experiencing the fastest revenue growth rate and is considered the primary growth region due to its rapidly evolving dynamics.
The prominent players operating in the global cancer registry software market are IBM Corporation, Ordinal Data, Inc, Siemens Healthcare Private Limited, NeuralFrame, Inc., and Omega Healthcare.
*Insights on financial performance are subject to the availability of information in the public domain