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

The RWE Oncology Market is expected to grow at a CAGR of 14.2% from 2022–2029 to reach $1.65 billion by 2029. Real-world evidence (RWE) is clinical evidence gathered via RWD analysis on the use and potential benefits or risks of a medical product. RWE can be produced through various study designs or analyses, including but not limited to randomized trials, large simple trials, pragmatic trials, and observational studies (prospective or retrospective). RWE has several applications in oncology, including drug development life cycles, reducing development duration, reducing the costs of clinical trials, and improving the probability of technical and regulatory success. The growth of this market is driven by factors such as the rising prevalence of cancer, rapidly growing big data in healthcare, the shift from volume to value-based care, and the rising focus on personalized healthcare.

Impact of COVID-19 on the RWE Oncology Market

The outbreak of the COVID-19 pandemic exerted a tremendous burden on healthcare sectors worldwide. The RWE oncology solutions market experienced an initial market shrinkage due to the impacts of the COVID-19 pandemic. The market shrinkage was attributed to factors such as the restrictions imposed on travel in several countries, the shifting of resources toward COVID-19 treatments in healthcare settings (including cancer care settings), and limited access to hospitals that disrupted the delivery of oncology services, including delayed diagnosis & treatment and clinical trial interruptions. These factors affected the amount of real-world data generated globally. The unavailability of treatment, patients, and resources significantly impacted the cancer care sector.

However, after the initial market shrinkage, real-world evidence (RWE) is set to become the most influential emerging technology in cancer care. The FDA recognized the challenges posed by the COVID-19 pandemic to oncology trials. In September 2021, it issued a draft guidance on real-world data for evidence generation supporting regulatory decisions. This initiative promoted the adoption of RWE in clinical trials, and since then, RWD has been used increasingly in cancer progression mapping and patient profiling, clinical trials, drug development, post-market studies, treatment choice, dosing strategies, treatment sequencing, adverse event management, regulatory decision making, and financial burden associated with oncology treatment.

Thus, the COVID-19 pandemic negatively impacted the RWE oncology solutions market. However, RWD made a significant impact during the COVID-19 pandemic and continues to play a significant role in the treatment of cancer due to the initiatives taken by the FDA to promote RWE and support regulatory decision-making for drugs and biological products.

                                                                            Click here to : Request Sample of this Report 

Key Findings in the RWE Oncology Market Study

Real-world Datasets Generated Larger Proportion of Revenue Compared to RWE Consulting & Analytics Services

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.

Drug Development & Approvals Segment to Dominate the Market

In 2022, the drug development & approvals segment is estimated to account for the largest share of the RWE oncology solutions market. The large market share of this segment is attributed to the rising number of cancer cases, compelling 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, boosting the growth of this segment.

Pharmaceutical & Medical Device Companies Segment to Register Largest Share in the RWE Oncology Market by 2029

The pharmaceutical & medical device companies segment is estimated to account for the largest share of the RWE solutions market in 2022. The large market share of this segment is attributed to the 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.

North America to Dominate the Market

In 2022, North America is estimated to account for the largest share of the RWE oncology solutions market, followed by Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The high market growth in North America is attributed to the increasing number of cancer cases, stringent regulations for drug approvals, implementation of the 21st Century Cures Act, increased usage of electronic datasets, advanced healthcare industry, and the rising amount of big data in healthcare.

Additionally, the adoption of EHRs in hospitals and patient registries is boosting the RWE oncology solutions market in North America. Basic EHR adoption has increased since 2010 in the U.S., from 27.9% in 2010 to nearly 86% in 2017. As of 2021, 94% of the hospitals in the U.S. are in the process of adopting EHRs.

Key Players

The report includes a competitive landscape based on an extensive assessment of the key strategic developments of leading market participants over the past four years. The key players profiled in the RWE oncology solutions market report include 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.).

Scope of the Report:

RWE Oncology Solutions Market, by Component

• Real-world Datasets
  • Disparate Datasets
    • EMR/EHR/Clinical Data
    • Claims & Billing Data
    • Pharmacy Data
    • Cancer Registries
    • Other Disparate Datasets
  • Integrated Datasets
• Real-world Consulting & Analytics Services

(Note: Other Disparate Datasets include data generated from mobile applications, wearable devices, and social media).

RWE Oncology Solutions Market, by Application

• Drug Development & Approvals
• Market Access & Reimbursement/Coverage Decisions
• Post-market Surveillance
• Medical Device Development & Approvals
• Other Applications

(Note: Other Applications include regulatory and clinical decision-making).

RWE Oncology Solutions Market, by End User

• Pharmaceutical, Biotechnology, and Medical Device Companies
• Healthcare Payers
• Healthcare Providers
• Other End Users

(Note: Other end users include academic research institutions, patient advocacy groups, regulators, and health technology assessment agencies).

RWE Oncology Solutions Market, by Geography

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Rest of Europe (RoE)
• Asia-Pacific (APAC)
  • Japan
  • China
  • India
  • South Korea
  • Taiwan
  • Singapore
  • Rest of APAC (RoAPAC)
• Latin America
• Middle East & Africa

Key questions answered in the report: