RWE Oncology Market Size to Surpass US$ 2,155.6 Million by 2031 - Growth Plus Reports

| Source: Growth Plus Reports Growth Plus Reports

Newark, New Castle, USA, July 05, 2023 (GLOBE NEWSWIRE) -- Growth Plus Reports have estimated that the global RWE oncology market was valued at approximately US$ 560.20 million in 2022. It is projected to experience significant growth with a revenue compound annual growth rate (CAGR) of 14.3% and is anticipated to reach a market value of around US$ 2,155.6 million by the end of 2031.

The global market for RWE oncology was analyzed and is expected to rise significantly in terms of revenue share during the forecast period. Real-world evidence (RWE), which is derived from RWD analysis, is clinical proof for the use and potential advantages or disadvantages of a medical product. Real-world data (RWD) is defined by the FDA as data relating to patient health status or the delivery of health care that is routinely collected from a variety of sources.

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                                               RWE Oncology Market Scope

Report AttributeDetails
Market Size Value in 2022US$ 560.20 million
Market Size Value in 2031US$ 2,155.6 million
Growth RateCAGR of 14.3% from 2023 to 2031
Base Year for Estimation2022
Forecast Period2023 to 2031
Historical Year2021
Segments CoveredComponent, Application, End User and Region
Regional ScopeNorth America, Europe, Asia Pacific, Latin America, and the Middle East & Africa


Key Takeaways:

  • The rising prevalence of cancer and oncology studies is driving the market revenue share.
  • Rapid advancement in big data in healthcare is driving the market demand.
  • Growing demand for customized healthcare is driving the market revenue share.

Recent Development in the Global RWE Oncology Market:

  • In October 2022, to increase patient access to cancer treatments, Ontada, a McKesson real-world evidence (RWE) firm, and BeiGene, a biotech, have launched a new partnership. The partnership will make use of Ontada's RWE expertise to assist BeiGene in achieving its goal of delivering ten drugs to the clinic each year. The two businesses will also work together to improve the use of RWE in regulatory decision-making for cancer.

Competitive Landscape

A list of the top market players operating in the global market for RWE oncology includes:

  • SYNEOS HEALTH INC.
  • CLARIVATE PLC
  • Medpace Holdings Inc.
  • IQVIA Holdings Inc.
  • Clinigen Group plc

Market Drivers and Restraints:

The global RWE oncology market revenue is driven by the rising prevalence of cancer and rising advancements in big data in healthcare. Furthermore, the increasing use of mobile phones is likely to contribute potential growth to the global market revenue.

However, following the initial market contraction, the market revenue growth is expected to be restrained.

Market Segmentation:

Segmentation By Component

Based on components, the global RWE oncology market is segmented into real-world datasets, real-world consulting & analytics services. Due to the increasing emphasis on outcome-based research using real-world data, a growing volume of medical data produced by hospitals, and rising demand for information on medication safety among payers and regulatory agencies, the real-world datasets segment accounts for the largest market revenue share. The real-world datasets are further sub-segmented into disparate datasets and integrated datasets.

Segmentation By Application

Based on the application, the global RWE oncology market is segmented into drug development & approvals, market access & reimbursement/coverage decisions, post-market surveillance, medical device development & approvals, and other applications. The drug development and approvals segment accounts for the largest revenue share due to the rise in cancer cases which has forced pharmaceutical and biopharmaceutical companies to concentrate on developing new cancer treatments.

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Segmentation By End User

Based on end-user, the global RWE oncology market is segmented into pharmaceutical, biotechnology, and medical device companies, healthcare payers, healthcare providers, and others. Due to the relevance of RWE studies in the development and approval of cancer medications, as well as the growing demand to reduce expensive drug recalls and evaluate therapeutic efficacy in real-world settings, pharmaceutical and medical device companies with the largest revenue share dominate the global market.

Regional Growth Dynamics

Based on the region, the global RWE oncology market is segmented into North America, Asia Pacific, Latin America, Europe, and the Middle East & Africa. Due to the rise in cancer cases, stricter rules for medication clearance, the 21st Century Cures Act, greater use of electronic datasets, the development of the healthcare industry, and the growing use of big data in healthcare, North America, with the largest revenue share dominates the global market.

Report Coverage

Growth Plus Reports studied the global market for RWE oncology in-depth. Basic market features, important investment segments, regional growth analytics, revenue projections, rival market participants, and mergers and acquisitions were all examined.

Table of Content

  1. INTRODUCTION
    1. Market Ecosystem
    2. Timeline Under Consideration
      1. Historical Years – 2021
      2. Base Year – 2022
      3. Forecast Years – 2023 to 2031
    3. Currency Used in the Report
  2. RESEARCH METHODOLOGY 
    1. Research Approach
    2. Data Collection Methodology
    3. Data Sources
      1. Secondary Sources 
      2. Primary Sources 
    4. Market Estimation Approach
      1. Bottom Up
      2. Top Down 
    5. Market Forecasting Model
    6. Limitations and Assumptions
  3. PREMIUM INSIGHTS
    1. Current Market Trends (COVID-19 Perspective)
    2. Key Players & Competitive Positioning (2022)
    3. Regulatory Landscape
  4. MARKET DYNAMICS
    1. Drivers
    2. Restraints/Challenges
    3. Opportunities
  5. GLOBAL RWE ONCOLOGY MARKET - ANALYSIS & FORECAST, BY COMPONENT
    1. Real-world Datasets
      1. Disparate Datasets
        1. EMR/EHR/Clinical Data
        2. Claims & Billing Data
        3. Pharmacy Data
        4. Cancer Registries
        5. Other Disparate Datasets
      2. Integrated Datasets
    2. Real-world Consulting & Analytics Services
  6. GLOBAL RWE ONCOLOGY MARKET - ANALYSIS & FORECAST, BY APPLICATION
    1. Drug Development & Approvals
    2. Post-market Surveillance
    3. Market Access & Reimbursement/Coverage Decisions
    4. Medical Device Development & Approvals
    5. Other Applications
  7. GLOBAL RWE ONCOLOGY MARKET - ANALYSIS & FORECAST, BY END USER
    1. Pharmaceutical, Biotechnology & Medical Device Manufacturers
    2. Payers
    3. Healthcare Providers
    4. Others

RWE ONCOLOGY MARKET TOC

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