Global Real World Evidence (RWE) Oncology Market size is valued at USD 772.5 Mn in 2024 and is predicted to reach USD 2,373.9 Mn by the year 2034 at a 12.1% CAGR during the forecast period for 2025-2034.
Real-world evidence (RWE) is the term used in the healthcare industry to describe data and information obtained from patient experiences, real-world clinical practice, and other non-clinical study situations. For oncologists to understand how cancer medications function in actual patient populations outside the controlled setting of clinical trials, real-world evidence (RWE) is essential. Advances in data analytics, machine learning, and artificial intelligence have made it easier to glean insightful information from vast volumes of actual patient data.
The globally rising incidence and prevalence of cancer, the need for real-world evidence in drug development, the growing emphasis on value-based healthcare, regulatory support for real-world evidence (RWE) in healthcare decision-making, and advancements in data analytics and artificial intelligence technologies are the primary factors driving the market for RWE in oncology. The real-world evidence (RWE) oncology market is evolving due to the introduction of cloud-based RWE platforms, the integration of genetic and molecular data, the shift towards patient-centric healthcare models, and the adoption of real-time data gathering and analysis.
Furthermore, particularly in developed economies with sophisticated healthcare infrastructures, integration with precision medicine projects and the development of analytics solutions driven by artificial intelligence (AI) are receiving considerable attention. Moreover, there are many opportunities for significant growth in the real-world evidence (RWE) oncology market. For industry participants seeking to tap into new client bases, expansion into emerging markets presents essential opportunities.
Competitive Landscape
Some of the Major Key Players in the Real World Evidence (RWE) Oncology Market are:
- IQVIA Holdings Inc.
- IBM Corporation
- Oracle Corporation
- SAS Institute Inc.
- Veracyte Inc.
- Flatiron Health Inc.
- ICON plc
- Parexel International Corporation
- Syneos Health Inc.
- Anthem Inc.
- Clinigen Group pic
- PerkinElmer Inc.
- Cognizant Technology Solutions Corporation
- UnitedHealth Group Incorporated
- Tempus Labs Inc.
- Other Players
Market Segmentation:
The Real-World Evidence (RWE) Oncology market is segmented by component, application, and end-user. Based on component, the market is segmented into consulting services and datasets (disparate datasets {pharmacy data, EMR/EHR/clinical data, cancer registries, claims & billing data, others}, Integrated Datasets). By application, the market is segmented into drug development and approvals, post-market surveillance, market access and reimbursement/coverage decisions, medical device development and approvals, and others. By end-user, the market is segmented into pharmaceutical, biotechnology, and medical device companies, healthcare providers, healthcare payers, and others.
Based On The Component, The Datasets Segment Is Accounted As A Major Contributor To The Real World Evidence (RWE) Oncology Market
The datasets category is expected to hold a major global market share in 2021 mainly due to the growing need for thorough cancer data from all sources within the healthcare system, including integrated and disparate datasets (such as EMR/EHR/clinical data, claims & billing data, pharmacy data, and cancer registries]. Their extensive coverage, dependable data, and widespread use in various healthcare applications make them essential for pharmaceutical research, regulatory filings, and informed healthcare decision-making. There are datasets in a secondary format that are used for retrospective research to produce empirical evidence. This empirical data offers valuable insights into unmet requirements as well as the financial and clinical effects on patients and healthcare systems. Clinical studies are more efficient and less expensive, and the results are based on significantly larger data samples.
Drug Development & Approvals Segment To Witness Growth At A Rapid Rate
The market was dominated by the drug development and approvals segment, which was fueled by rising pharmaceutical investment in oncology research and the regulatory adoption of real-world evidence (RWE) in drug approval procedures. Pharmaceutical companies, healthcare providers, and payers can manage their operations more effectively and expedite the medication research and approval process by utilising real-world evidence (RWE) in oncology. This promotes the expansion of the real-world evidence (RWE) oncology market. Additionally, governments are implementing various programs to encourage the application of real-world evidence (RWE) in oncology for the creation and approval of medical devices.
In The Region, The North American Real World Evidence (RWE) Oncology Market Holds A Significant Revenue Share
The North American Real World Evidence (RWE) Oncology market is expected to hold the highest market share in revenue in the near future due to the region’s sophisticated healthcare system, robust RWE regulations, established pharmaceutical sector, favourable reimbursement practices, and abundance of well-established RWE solution suppliers. Furthermore, the real-world evidence (RWE) oncology market is greatly influenced by high cancer incidence rates and sophisticated data analytics skills. In addition, the Asia Pacific is projected to grow rapidly in the global Real World Evidence (RWE) Oncology market due to the increasing number of government programs encouraging the use of RWE oncology studies and the presence of several contract research and production firms in countries like China and India. The real-world evidence (RWE) in the oncology industry is expected to increase due to the rising demand for improved healthcare services.
Real World Evidence (RWE) Oncology Market Report Scope:
|
Report Attribute |
Specifications |
|
Market Size Value In 2024 |
USD 772.5 Mn |
|
Revenue Forecast In 2034 |
USD 2,373.9 Mn |
|
Growth Rate CAGR |
CAGR of 12.1% from 2025 to 2034 |
|
Quantitative Units |
Representation of revenue in US$ Mn and CAGR from 2025 to 2034 |
|
Historic Year |
2021 to 2024 |
|
Forecast Year |
2025-2034 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Form, Product, And Distribution Channel |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; South East Asia |
|
Competitive Landscape |
IQVIA Holdings Inc., IBM Corporation, Oracle Corporation, SAS Institute Inc., Veracyte Inc., Flatiron Health Inc., ICON plc, Parexel International Corporation, Syneos Health Inc., Anthem Inc., Clinigen Group pic, PerkinElmer Inc., Cognizant Technology Solutions Corporation, UnitedHealth Group Incorporated, and Tempus Labs Inc. |
|
Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing and Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Corporate
Office :
Office No.5170, 5th Floor Marvel Fuego, Magarpatta Rd, Pune, 411028
info@insightaceanalytic.com
