Key players in the community oncology services market are Community Care Physicians PC, Nebraska Cancer Specialists, US Oncology, Inc. (McKesson Corporation), Tufts Medical Center. , Doctors Medical Center, Specialists in Oncology, S.
New York, 17 Feb. 2022 (GLOBE NEWSWIRE) — Reportlinker.com Announces Release of “Community Oncology Services Global Market Report 2022” – https://www.reportlinker.com/p06229175/?utm_source=GNW
C. and Baptist Cancer Center.
The global community oncology services market is expected to grow from $70.06 billion in 2021 to $70.56 billion in 2022 at a compound annual growth rate (CAGR) of 0.7%. The slow decline is attributed to restrictive COVID-19 containment measures involving social distancing, remote working and the closure of business activities which have resulted in operational challenges. The market is expected to reach $74.87 billion in 2026 at a CAGR of 1.5%.
The community oncology services market includes sales of community oncology services by entities (organizations, sole proprietorships, and partnerships) of healthcare practitioners who practice community oncology as a private physician-owned business not part of a hospital or an academic or medical teaching institution. The community oncology practice may be a single oncologist, with an office and support staff of extensor physicians, nurses, pharmacists or pharmacy technicians, and other staff.
Only goods and services exchanged between entities or sold to final consumers are included.
The main types of community oncology services are small community oncology clinics, medium-sized community oncology clinics, and large community oncology clinics. pharmacy technicians and other staff.
The different types of cancers include breast cancer, lung cancer, kidney cancer, liver cancer, ovarian cancer, prostate cancer, skin cancer, pancreatic cancer, blood cancer, colorectal cancer, others and involves various therapies such as medical oncology, radiation oncology, surgical oncology, others.
Lower cost care in community oncology centers is expected to drive the demand for community oncology services market. Cancer care services are considered cost-effective in community cancer centers compared to hospitals.
According to the report published by the Community Oncology Alliance, the cost of cancer care per patient per month for various tumors in community clinics (CC) was around $12,000 while the cost of cancer care in hospital-based oncology (HC) clinics was approximately $20,000. Additionally, the cost per patient per month for chemotherapy treatment in the community setting was nearly $5,000 compared to approximately $8,500 in hospital clinics.
Hence, the low cost of community oncology facilities or community oncology centers is expected to drive the demand for community oncology services market over the forecast years.
The coronavirus outbreak is likely to act as a major drag on the growth of the community oncology services market during the forecast period. The World Health Organization (WHO) declared the COVID-19 outbreak a pandemic on March 11, 2020.
The coronavirus has created a significant mortality risk for cancer patients worldwide. COVID-19 is expected to have a long-term impact on oncology practices.
According to a survey conducted by the Medical Group Management Association in April 2020, healthcare practices have seen a 55% drop in revenue and a 60% drop in patient volume since the start of the COVID-19 pandemic. Additionally, according to a survey of 51 U.S. oncologists conducted by MJH Life Sciences in May 2020, 73% of oncologists limited their surgeries to urgent cases, 53% changed dosing regimens to reduce inpatient visits, and 71% had canceled routine patient visits. .
Consequently, the coronavirus outbreak has caused a rapid decline in overall in-person oncology services, subsequently impacting the community oncology services market.
Major companies are undergoing various acquisitions and research collaborations in the community oncology services market to expand their services and offerings, which are gaining popularity in recent years. According to a report published by Community Oncology Alliance in April 2020, the rate of community oncology practices acquired by hospitals increased by 9.7% in 2018 and 2020. For example, in August 2020, The Community Cancer Center, a clinic based in the United States providing community cancer care, was acquired by Carle Health. Carle Health is a US-based hospital and healthcare company with more than 9,500 employees across its five hospitals and associated healthcare operations. Additionally, in May 2019, Amgen Inc., a US-based biopharmaceutical company, announced new research collaborations with community oncology networks. Amgen Inc. also launched Amgen Community Oncology Research Collaborators (ACORC), a new initiative to improve access to innovative clinical oncology research for community centers.
In May 2019, Amgen announced its decision to collaborate with community oncology service providers such as US Oncology Research and TRIO-US to improve community center access to innovative clinical oncology research. This collaboration is expected to allow Amgen to significantly expand its clinical research footprint to more than 200 patient care sites across the United States and help community centers reach more than 900,000 new patients each year with medicines. experimental.
Regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the Community Oncology Services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea South, the United Kingdom and the United States.
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