Wilmington, Delaware, Sept. 15, 2023 (GLOBE NEWSWIRE) -- Global RWE Oncology Market was valued at US$ 720 million in 2023 and is expected to grow at a significant CAGR of over 13.2% over the forecast period of 2023-2030, according to the latest market report by RationalStat
Market Definition, Market Scope, and Report Overview
The term "RWE Oncology" often refers to Real-World Evidence in oncology. In healthcare, real-world evidence (RWE) refers to data and information derived from real-world clinical practice, patient experiences, and other non-clinical study contexts. RWE is critical in oncology for knowing how cancer medicines operate in real-world patient populations outside of the controlled environment of clinical trials.
Data analytics, machine learning, and artificial intelligence advancements have improved the ability to extract valuable insights from massive amounts of real-world patient data. The demand for real-world insights regarding the safety, efficacy, and value of cancer treatments is driving the RWE Oncology market. It supplements traditional clinical trials by offering a more comprehensive view of how therapies affect patients in real-world clinical practice, ultimately improving cancer care and treatment decision-making.
- According to a deep-dive market assessment by RationalStat, the global RWE oncology market has been analyzed on the basis of market segments, including component, application, end user and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the global RWE oncology market covers market sizes on the basis of market value (US$/EUR Million) and volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the global RWE oncology market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global RWE Oncology Market: Segmental and Market Share Analysis
- On the basis of component, the real-world datasets segment is expected to account for the majority of the RWE oncology solutions market in 2022. This segment's substantial market share can be attributable to the increasing amount of medical data created in hospitals, as well as the increasing reliance on outcome-based research based on real-world data.
- On the basis of application, The RWE oncology solutions market is expected to be dominated by the drug development and approvals segment. This segment's substantial market share can be due to the increasing number of cancer cases, as well as attractive pharmaceutical and biopharmaceutical businesses.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 720 million |
| Market Size Forecast | US$ 1,715 million |
| Growth Rate | 13.2% |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global RWE oncology market include,
- In October 2022, Ontada, a McKesson real-world evidence (RWE) company, and BeiGene, a biotech, have formed a new alliance. The collaboration will leverage Ontada's RWE experience to help BeiGene meet its objective of delivering ten medications to clinics each year. The two companies will also collaborate to strengthen the use of RWE in cancer regulatory decision-making.
- In September 2022, According to Verantos, a leader in high-validity real-world evidence (RWE), the Verantos Evidence Platform has officially debuted. Life sciences companies can use the Verantos Evidence Platform to create RWE that meets the highest evidentiary standards, including those stated in Food and Drug Administration (FDA) drafting guidance.
Some of the prominent players and suppliers operating and contributing significantly to the global RWE oncology market growth include 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, and Flatiron Health, among others.
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RationalStat has segmented the global RWE oncology market based on component, application, end user and region
- Global RWE Oncology Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Component
- Real-world Datasets
- Disparate Datasets
- EMR/HER/Clinical Data
- Claims & Billing Data
- Pharmacy Data
- Cancer Registries
- Other Disparate Datasets
- Integrated Datasets
- Disparate Datasets
- Real-world Consulting & Analytics Services
- Real-world Datasets
- Global RWE Oncology Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Application
- Drug Development & Approvals
- Market Access & Reimbursement/Coverage Decisions
- Post-market Surveillance
- Medical Device Development & Approvals
- Other applications
- Global RWE Oncology Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by End User
- Pharmaceuticals
- Biotechnology Industries
- Healthcare Service Providers
- Global RWE Oncology Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Region
- North America RWE Oncology Market
- US
- Canada
- Latin America RWE Oncology Market
- Brazil
- Mexico
- Rest of Latin America
- Western Europe RWE Oncology Market
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe RWE Oncology Market
- Russia
- Poland
- Hungary
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific RWE Oncology Market
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa RWE Oncology Market
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
- GCC
- North America RWE Oncology Market
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Key Questions Answered in the RWE Oncology Report:
- What will be the market value of the global RWE oncology market by 2030?
- What is the market size of the global RWE oncology market?
- What are the market drivers of the global RWE oncology market?
- What are the key trends in the global RWE oncology market?
- Which is the leading region in the global RWE oncology market?
- What are the major companies operating in the global RWE oncology market?
- What are the market shares by key segments in the global RWE oncology market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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About RationalStat LLC
RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
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