Growing Incidence Of Cancer Is Expected To Aid Cancer Registry Software Market Growth

The global cancer registry software market size is expected to reach USD 103.5 million by 2026, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 10.5%. Growing incidence of cancer is expected to aid growth over the forecast period. Currently, cancer is the second leading cause of death globally, and according to WHO, around 70% of the deaths occur in low- and middle-income countries.

Moreover, rising adoption of Electronic Health Records (EHRs) in developed countries and increasing need for cancer registries for post-marketing surveillance are among the factors further anticipated to boost the demand for cancer registry software in the coming years. Market players are constantly involved in software updation in an attempt to minimize security risks and provide efficient software, thereby increasing market visibility and adoption. For instance, in April 2018, Elekta invested in PalabraApps LLC to improve its MOSAIQ Oncology Information System software.

Increasing number of clinical trials being conducted by major pharmaceutical and biotechnological companies is expected to drive the market over the forecast period. Cancer registry data helps in tracking patients for clinical trials. Moreover, the affected locations for any specific type of cancer can be identified by using this software. Major pharmaceutical companies are increasingly preferring cancer registry software owing to less requirement of internal staff, increased cost-effectiveness, and efficient management of resources, which is further widening the scope for growth.

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Cancer Registry Software Market Report Highlights

• Increasing cancer burden in developing and developed countries is expected to create growth opportunities in the cancer registry software market
• Standalone segment accounted for the largest revenue share in 2018, as it allows multiple system usage and provides other advantages such as automatic upgrade and easy-to-use tools
• On basis of deployment model, on-premise segment held the largest share due to high data security and low risk of data breach
• On the basis of component, commercial database held the largest revenue share due to better compliance features than public database
• Government & third-party organizations accounted for the largest revenue owing to increasing adoption of this software by government agencies for east data tracking
• North America held the largest revenue share as of 2018 due to supportive government initiatives and presence of key industry players
• Asia Pacific is anticipated to witness lucrative growth due to increasing government initiatives and presence of untapped opportunities
• Some of the market key players are Elekta, C/NET Solutions, Electronic Registry Systems, Inc., Onco, Inc., McKesson Corporation, and Rocky Mountain.

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About Grand View Research        

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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