Dublin, Aug. 04, 2022 (GLOBE NEWSWIRE) -- The "RWE Oncology Market by Component, Application, End User - Global Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The RWE oncology solutions market is expected to grow at a CAGR of 14.2% from 2022-2029 to reach $1.65 billion by 2029.
After a comprehensive primary and secondary research and an in-depth analysis of the market scenario, this report provides insights into key industry drivers, restraints, challenges, and opportunities of the RWE oncology solutions market.
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. Furthermore, emerging markets, rising focus on end-to-end RWE services, and rising adoption of mobile applications and wearable devices and AI in RWE are expected to provide significant growth opportunities for market players and new entrants in this market.
Based on component, in 2022, the real-world datasets 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 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.
Based on application, 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.
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 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.
In 2022, North America is expected to command the largest share of the global RWE oncology solutions market, followed by Europe and Asia-Pacific.
Market Insights
Drivers
- Growing Burden of Cancer
- Rising Focus Towards Personalized Healthcare
- Delays in Drug Development and the Subsequent Increase in Development Costs
- Shift Towards Value-based Care
- Rapidly Growing Big Data in Healthcare
Restraints
- Reluctance to Rely on Real-world Studies
Opportunities
- Emerging Economies
- Rising Focus on End-to-end RWE Services
- Rising Adoption of Wearable Devices, Mobile Apps, and Artificial Intelligence in RWE
Challenges
- Lack of Standardized Methodologies to Develop RWE
- Impact Assessment of COVID-19
Key Market Trends
- Growing Adoption of RWE in Drug Development and Commercialization
- Rising Number of Consolidations
- Improved Patient Outcomes and value Creation from Real-world Evidence
Company Profiles
- IQVIA Holdings Inc.
- ICON plc
- PPD Inc.
- SYNEOS HEALTH Inc.
- CLARIVATE PLC
- Medpace Holdings Inc.
- Symphony Innovation LLC
- Clinigen Group plc
- Cognizant Technology Solutions Corporation
- Oracle Corporation
- PAREXEL International Corporation
- PerkinElmer Inc.
- SAS Institute Inc.
- UnitedHealth Group Incorporated
- Flatiron Health
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
RWE Oncology Solutions Market, by Application
- Drug Development & Approvals
- Market Access & Reimbursement/Coverage Decisions
- Post-market Surveillance
- Medical Device Development & Approvals
- Other Applications
RWE Oncology Solutions Market, by End User
- Pharmaceutical, Biotechnology, and Medical Device Companies
- Healthcare Payers
- Healthcare Providers
- Other End Users
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
For more information about this report visit https://www.researchandmarkets.com/r/1ktt5j
