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Redding, California - July 4, 2022

Real-World Evidence (RWE) Oncology Market Worth $1.65 Billion by 2029

RWE Oncology Market by Component (Datasets [EHR, Claims, Cancer Registries], Consulting & Analytics Services), Application (Drug Development, Approval, Market Access, Post-market Surveillance), End User (Pharma, Payer, Provider) - Global Forecast to 2029


Meticulous Research®—leading global market research company published a research report titled, ‘RWE Oncology Market by Component (Datasets [EHR, Claims, Cancer Registries], Consulting & Analytics Services), Application (Drug Development, Approval, Market Access, Post-market Surveillance), End User (Pharma, Payer, Provider) - Global Forecast to 2029.’

According to this latest publication from Meticulous Research®, the real-world evidence (RWE) oncology solutions market is expected to grow at a CAGR of 14.2% from 2022–2029 to reach $1.65 billion by 2029. The rising prevalence of cancer, rapidly growing big data in healthcare, shift from volume to value-based care, and rising focus on personalized healthcare are expected to drive the growth of the RWE oncology solutions market. However, a lack of standardized methodologies to develop RWE is a major challenge for the growth of this market.

The RWE oncology solutions market is segmented based on component (real-world datasets and RWE consulting & analytics services), application (drug development & approvals, market access & reimbursement/coverage decisions, post-market surveillance, medical device development & approvals, and other applications), end user (pharmaceutical, biotechnology, and medical device companies, healthcare payers, healthcare providers, and other end users), and geography. The study also evaluates industry competitors and analyzes the market at the regional and country levels.

Based on component, in 2022, the real-world datasets segment is estimated to account for the larger share of the RWE oncology solutions market. The large market share of this segment is attributed to the growing amount of medical data generated in hospitals, increasing dependence on outcome-based studies on real-world data, and the rising demand for information regarding drug safety among payers, regulatory bodies, and providers. In addition, the growing need for evidence generated from real-world data and a shift from volume to value-based care has resulted in an increased focus on cancer registries, a rise in the adoption of EHR/EMR in hospitals, and exponential growth in mobile health data and social media, leading to the generation of huge amounts of medical data.

Based on application, in 2022, the drug development & approvals segment is estimated to account for the largest share of the RWE oncology solutions market. Quality-of-life metrics and Patient-Reported Outcome Measures (PROMs) are becoming common elements in clinical trials for drug development. The evidence generated from real-world data is regularly utilized to inform aspects of drug development, such as the natural history and epidemiology of a disease, and provide data on treatment pathways and comparator interventions in clinical practice. The rising number of cancer cases has compelled pharmaceutical and biopharmaceutical companies to focus on drug development for cancer treatment. The effective deployment of RWE can significantly accelerate the pace of discovery, enable drug approvals, and help understand the impact of new oncology therapies, which is expected to drive the growth of this segment.

Based on end user, in 2022, the pharmaceutical & medical device companies segment is estimated to account for the largest share of the RWE oncology solutions market. The large share of this segment is attributed to the increasing importance of RWE studies in cancer drug development & approvals and the growing need to avoid costly drug recalls and assess drug performance in real-world settings. The healthcare landscape continues to shift from volume to value-based care and is continuously developing. Pharmaceutical companies are focusing on new ways to provide the best treatments for cancer patients. Real-world evidence enables health care professionals and pharmaceutical companies to understand real-life clinical practices and actual health outcomes of drugs. Thus, pharmaceutical and biotech companies are increasingly utilizing real-world evidence to collect real-time post-trial information about drugs, enabling healthcare providers and researchers to understand the negative reactions, side effects, and medication errors related to the drugs, thereby allowing them to control the potential harm caused by the drugs.

This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S., Canada), Asia-Pacific (Japan, China, India, South Korea, Taiwan, Singapore, and the rest of Asia-Pacific ), Europe (Germany, France, U.K., Italy, Spain, and the rest of Europe), Latin America, and the Middle East & Africa.

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The key companies operating in the RWE oncology solutions market are IQVIA Holdings Inc. (U.S.), ICON plc (Ireland), PPD, Inc. (U.S.), SYNEOS HEALTH, INC. (U.S.), CLARIVATE PLC (U.S.), Medpace Holdings Inc. (U.S.), Symphony Innovation, LLC (U.S.), Clinigen Group plc (U.K.), Cognizant Technology Solutions Corporation (U.S.), Oracle Corporation (U.S.), PAREXEL International Corporation (U.S.), PerkinElmer, Inc. (U.S.), SAS Institute Inc. (U.S.), UnitedHealth Group Incorporated (U.S.), and Flatiron Health (U.S.).

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