Major players in the community oncology services market are Community Care Physicians P. C. , Nebraska Cancer Specialists, US Oncology, Inc. (McKesson Corporation), Tufts Medical Center, Doctors Medical Center, Oncology Specialists, S.
New York, Sept. 27, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Community Oncology Services Global Market Report 2021: COVID-19 Growth And Change To 2030" - https://www.reportlinker.com/p06151621/?utm_source=GNW
C., and Baptist Cancer Center.
The global community oncology services market is expected to decline from $70.98 billion in 2020 to $70.78 billion in 2021 at a compound annual growth rate (CAGR) of -0.3%. The slow decline is attributed to COVID-19 restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $69.97 billion in 2025 at a CAGR of -0.2%.
The community oncology services market consists of sales of community oncology services by entities (organizations, sole traders and partnerships) of health practitioners who practice community oncology as a private physician-owned business not part of a hospital or academic or medical teaching institution.The community oncology practice may be only a single oncologist, with one office and a support staff of physician extenders, nurses, pharmacists, or pharmacy technicians and other staff.
Only goods and services traded between entities or sold to end consumers are included.
The community oncology services market covered in this report is segmented by type into small community oncology clinics, medium community oncology clinics, large community oncology clinics; cancer type into breast cancer, lung cancer, kidney cancer, liver cancer, ovarian cancer, prostate cancer, skin cancer, pancreatic cancer, blood cancer, colorectal cancer, others.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Coronavirus outbreak is likely to act as a major restraint for the growth of the community oncology services market during the forecast period.The World Health Organization (WHO) declared the COVID-19 outbreak as pandemic on March 11, 2020.
Coronavirus has created a significant risk of mortality for cancer patients worldwide.COVID-19 is predicted to have a long-term impact on oncology practices.
According to a survey conducted by the Medical Group Management Association in April 2020, the healthcare practices recorded a decline of 55% in the revenue and a 60% decline in the patient volume since the beginning of the COVID-19 pandemic.Moreover, according to a survey of 51 USA oncologists conducted by MJH Life Sciences during May 2020, 73% of the oncologist limited their surgeries to urgent cases, 53% modified dosing regimens to reduce in-patient visits, and 71% had canceled routine office visits of the patients.
Therefore, the coronavirus outbreak has caused a rapid decline in overall oncology in-person services, subsequently impacting the community oncology services market.
In May 2019, Amgen announced its decision to collaborate with community oncology service providers such as US Oncology Research and TRIO-US to enhance access by community centers to innovative oncology clinical research. This collaboration is expected to allow Amgen to significantly expand its clinical research footprint to more than 200 patient care sites across the U.S. and help community centers reach more than 900,000 new patients each year with investigational medicines.
The lower-cost care in community oncology centers is anticipated to boost the demand for the community oncology service market.The cancer care services are considered to be cost-effective in community oncology centers as compared to hospitals.
According to the Community Oncology Alliance’s report published in October 2018, the cost of cancer care per patient per month for various tumors in community-based clinics (CCs) was approximately $12,000 whereas the cost of cancer care in hospital-based oncology clinics (HCs) was about $20,000.Furthermore, the cost per patient per month for treatment of chemotherapy in a community setting was nearly $5,000 compared to around $8,500 in hospital-based clinics.
Hence, the low cost of community oncology settings or community oncology centers is expected to drive the demand for the community oncology services market over the forecast years.
Major companies are undergoing various acquisition and research collaboration in the community oncology services market to expand their services and offerings, which is gaining significant popularity over the 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% during 2018 and 2020. For instance, in August 2020, The Community Cancer Center, a US-based clinic engaged in providing community-based cancer care, was acquired by Carle Health. Carle Health is a US-based hospital and healthcare company with more than 9,500 employees in its five hospitals and associated healthcare business. In addition to this, in May 2019, Amgen Inc., a US-based biopharmaceutical company, announced the 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 oncology clinical research for community centers.
The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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