Latin America Oncology Information System Market

Latin America Oncology Information System Market Size (2024 to 2029)

The size of the Latin American oncology information system market has been projected to be valued at USD 325.75 million in 2024. It is further estimated to be growing at a CAGR of 7.86% and worth USD 475.5 million by 2029.

Y-O-Y rise in cancer incidence, increased acceptance of OIS, and an aging population globally are moving the Latin American oncology information system market forward. In developed countries, cancer is becoming more prevalent. For example, according to cancer.gov, in the United States, in 2020, 1,806,590 new cancer cases are predicted to be diagnosed, with 606,520 individuals dying. In addition, according to the 2019 Revision of World Population Prospects, by 2050, 16% of the global population will be over 65, up from 9% in 2019.

The Latin American oncology information system market is also expected to rise due to technology advancements and their associated benefits, as well as an increase in cancer across the continent. As people become more aware of the benefits of ISO, the Latin American oncology information system market is projected to grow faster. In addition, governments throughout the continent are also working on new legislation to encourage information technology, which is expected to boost corporate growth even more.

The market for oncology information systems in Latin America is being driven by technological advances in the area, the benefits of OIS over traditional record management, and the region's rising cancer prevalence. As more people become aware of the benefits of using OIS, the sector is also expected to grow.

High maintenance and servicing costs and a scarcity of healthcare IT personnel are all obstacles that limit this market. Furthermore, countries such as Mexico have difficulty getting budget clearance for IT solutions. In addition, the challenges of integrating different networks with healthcare setups and wireless connectivity alternatives limit the growth of the Latin American oncology information system market.

Covid-19's emergence has negatively influenced the pharmaceutical and life sciences industry. Because many hospitals were primarily focused on treating COVID-19 patients during the first quarter of 2020, oncology information systems' performance suffered. As a result, the non-availability of hospitals, employees, and operation facilities has made oncology treatment performance a challenge.

This research report on the Latin America oncology information system market has been segmented and sub-segmented into the following categories.

Latin America Oncology Information System Market By Application

• Surgical Oncology
• Medical Oncology
• Radiation Oncology

Latin America Oncology Information System Market By Products And Services: 

• Patient Information Systems
• Treatment Planning Systems
• Consulting/Optimization Services
• Implementation Services
• Post-Sale and Maintenance Services

Latin America Oncology Information System Market By End Users: 

• Hospitals & Physician’s Offices
• Research Centres
• Government Institutions

Latin America Oncology Information System Market By Country

• Mexico
• Brazil
• Argentina
• Chile
• Rest of Latin America

The Latin American oncology information system market is expected to rise steadily during the forecast period. The market's rise can be attributable to individuals becoming more aware of the various treatment options available. The Latin America area is predicted to increase substantially during the forecast period, owing to the rise of the medical tourism industry, a large population base, and government-sponsored cancer treatment programs. In addition, emerging countries such as Mexico and Brazil are adopting oncology information systems to record patient records and treatment regimens, boosting market expansion. Furthermore, expanding healthcare infrastructure facilities and increasing government and other organization investments in enhancing healthcare infrastructure are expected to drive market growth.

Mexico is expected to dominate the Latin American oncology information system market during the forecast period. The use of blockchain technology in oncology information systems is a key trend for medical ecosystems in cancer care, and it is predicted to fuel market expansion in this region.

The Latin American oncology information system market is likely to be dominated by Brazil after Mexico. The Brazilian oncology information system market is primarily driven by increasing R&D activities to build patient-centric oncology systems in this region, increase the prevalence of cancer cases, and advance oncology information system goods and methods.

KEY MARKET PLAYERS

Companies playing a key role in the Latin America oncology information system market profiled in the report are Accuray Incorporated (U.S.), Altos Solutions, Inc. (U.S.), Cerner Corporation (U.S.), Elekta AB (Sweden), Epic Systems Corporation (U.S.), Koninklijke Philips N.V. (The Netherlands), McKesson Corporation (U.S.), and Varian Medical Systems, Inc. (U.S.).