Meticulous Research®, a 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 Meticulous Research®'s most recent study, the real-world evidence (RWE) oncology solutions market is predicted to develop at a 14.2% CAGR between 2022 and 2029, reaching $1.65 billion by 2029. The rising prevalence of cancer, quickly developing big data in healthcare, change from volume to value-based treatment, and increased emphasis on personalized healthcare are projected to drive the RWE oncology solutions market. However, the lack of defined procedures for developing RWE poses a significant impediment to the market's growth.

 

The RWE oncology solutions market is divided into four segments: component (real-world datasets and RWE consulting and analytics services), application (drug development and approvals, market access and reimbursement/coverage decisions, post-market surveillance, medical device development and approvals, and other applications), end user (pharmaceutical, biotechnology, and medical device companies, healthcare payers, healthcare providers, and other end users), and geography. The report also assesses industry competitors and examines the market at the regional and national levels.

 

In 2022, the real-world datasets category is expected to account for the largest share of the RWE oncology solutions market. This segment's substantial market share is due to the increasing volume of medical data created in hospitals, the increased reliance on outcome-based research on real-world data, and the growing demand for drug safety information among payers, regulatory bodies, and providers. Furthermore, the growing demand for evidence derived from real-world data, as well as a shift from volume to value-based care, has resulted in a greater emphasis on cancer registries, increased adoption of EHR/EMR in hospitals, and exponential growth in mobile health data and social media, resulting in the generation of massive amounts of medical data.

 

Based on application, the drug development & approvals sector is expected to dominate the RWE oncology solutions market in 2022. Quality-of-life metrics and Patient-Reported Outcome Measures (PROMs) are increasingly being used in drug development trials. Evidence derived from real-world data is frequently used to guide parts of medication research, such as disease natural history and epidemiology, as well as to give data on treatment paths and comparator interventions in clinical practice. The increased number of cancer cases has prompted pharmaceutical and biotech companies to prioritize cancer medication development. The efficient deployment of RWE can greatly speed the pace of discovery, facilitate drug approvals, and help comprehend the impact of novel oncology therapies that are expected.

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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