Transparency Market Research Report Added "Oncology Information System Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024"Albany, NY -- (SBWIRE) -- 03/16/2017 -- Oncology information system is an image and information management system that allows to check all parts of oncology care for patients. Oncology information system combines medical, surgical, and radiation oncology information into a comprehensive, oncology electronic medical record that allows to manage patient's details from start of the patient's admission through diagnosis and follow-up details.

The factors driving the growth of the oncology information system market are increase in technological adaption and technological advancement. Increase in health care infrastructure in developing nations, growth in prevalence of secondary tumor, and rise in incidence of cancer are the other factors anticipated to propel the growth of the oncology information system market during the forecast period. According to the National Cancer Institute, cancer is among the leading causes of death worldwide; in 2012, there were 14 million new cases and 8.2 million cancer-related deaths worldwide. However, lack of health care IT professionals and strict regulation are likely to restrict the growth of the oncology information system market.

According to a report by the American Cancer Society, 50% of men and 30% of women are estimated to develop cancer in some form or the other in their lifetime. Increase in amount of cancer patients is a major driver of the sales of the oncology information system market. Additionally, rise in amount of tobacco consumption and increase in amount of carcinogens present in the polluted air or in any other form are projected to drive the oncology information system market in the near future. Some of the factors driving the growth of the market are rising disposable income, which enables patients to avail expensive treatments, easily available medical insurance policies, and growing medical tourism activities. Heavy investments in R&D further act as an opportunity for the growth of the market since innovative and technologically advanced products always have the capability of substituting its predecessors.

The oncology information system market has been segmented by product, application, end-user, and geography. Based on product, the oncology information system market is classified into patient information system, treatment planning system, consulting/optimization, implementation, maintenance, services, and others. Based on application, the market is segmented into care management, treatment management, and knowledge management. Based on end-user, the oncology information system market is segmented into hospital, government institution, research center, and others.

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Geographically, the oncology information system market in segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to account for a large market share in terms of revenue, followed by Europe. The oncology information system market in North America is expected to grow due to technological advancement and increase in demand for advanced product. The growing need to implement advanced systems in the health care sector in the region and, at the same time, deliver quality care to patients are the factors likely to drive the market in the near future.

Asia Pacific is expected to rise at a high CAGR owing to increase in adoption of technological advanced products, growth in disposable income, and rise in health care infrastructure in countries such as India, China, Australia, and other countries in the region. The Latin America oncology information system market is mainly driven by the increasing adoption of technological products in countries such as Brazil and Mexico. The Middle East & Africa oncology information system market is estimated to grow in the near future due to rise in incidence of cancer. According to World Health Organization, women in the African region had the highest incidence of cancer of the cervix uteri.

Major players operating in this market include CureMD Healthcare, Varian Medical Systems, Inc., Flatiron Health, Inc., Epic Systems Corporation, Bogardus Medical Systems, Inc., Cerner Corporation, McKesson Corporation, Koninklijke Philips N.V., Elekta AB, and Accuray Inc.

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OLDWICK, N.J.--(BUSINESS WIRE)--
AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a” (Excellent) of The Wawanesa Mutual Insurance Company (Wawanesa Mutual). At the same time, AM Best has affirmed the FSR of A (Excellent) and the Long-Term ICR of “a” (Excellent) of Wawanesa Life Insurance Company (Wawanesa Life). The outlook of these Credit Ratings (ratings) is stable. Both companies are domiciled in Winnipeg, Manitoba, Canada.

The ratings of Wawanesa Mutual reflect its balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management (ERM).

Wawanesa Mutual’s balance sheet strength is underpinned by its risk-adjusted capitalization, which was at the strongest level at year-end 2025, as measured by Best’s Capital Adequacy Ratio (BCAR). Wawanesa Mutual’s risk-adjusted capitalization reflects growth in its equity over the long-term. The company’s balance sheet strength is further supported by its conservative underwriting leverage, sound liquidity and a comprehensive reinsurance program. Offsetting balance sheet strength factors include areas of adverse reserve development and elevated common stock leverage. Wawanesa Mutual has a track record of adequate operating performance.

Viewed over a five-year period, Wawanesa Mutual has demonstrated improvement in underwriting, reporting four years of underwriting profitability. Underwriting performance in 2025 benefited from improvements in personal auto with positive trends in Ontario and Quebec. The underwriting performance turnaround in 2025 also reflects a series of targeted initiatives to improve claims and pricing. The company introduced a dedicated claims insights team and fraud analytics team, implemented management actions and process changes to stabilize reserve volatility, incorporated a wildfire grading index, and continued to invest heavily in pricing sophistication.

The ratings of Wawanesa Life reflect its balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate ERM.

Wawanesa Life’s balance sheet strength is reflective of the strongest level of risk-adjusted capitalization, as measured by BCAR, and supportive of its business, insurance and investment risks due to organic earnings growth, low use of reinsurance, and overall good credit quality of invested assets. Wawanesa Life has reported net income in four of the past five years; however, there is variability by business segment with individual life business providing stable, profitable earnings, while the group business has been more volatile. Performance differences between segments are notable with the individual products generating long term earnings, providing resilience and financial strength across market cycles, while the group insurance segment has been weaker and more volatile. Wawanesa Life receives rating enhancement given its strategic role in providing life, annuity, accident and sickness and disability insurance products, which complement Wawanesa Mutual’s property/casualty product offerings.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2026 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

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Source: AM Best