PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1238837
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1238837
Real World Evidence Oncology Market size was valued at USD 890.6 Million in 2022, expanding at a CAGR of 19.6% from 2023 to 2030.
Real-world evidence (RWE) is medical data acquired through RWD analysis on a medical product's use and prospective benefits or dangers. Many study designs or analyses, such as randomized trials, big simple trials, pragmatic trials, and observational studies, among others, might result in RWE.
With the rise of precision medicine, oncologists are increasingly relying on genomic testing and other advanced diagnostic tools to tailor treatment plans to individual patients. RWE is essential in this process as it can help oncologists understand which treatments are most effective for specific patients based on their individual characteristics and medical history. These factors are expected to boost the growth of the real-world evidence oncology market. Further, the widespread adoption of EHRs has made it easier to collect and analyze RWE. This has allowed researchers and healthcare providers to access real-world data that can inform treatment decisions and drug development.
Furthermore, the growing importance patient reported outcome (PROs) is expected to fuel the market growth. Patients are increasingly taking an active role in their own care and are providing feedback on their treatment experience through PROs. RWE can help to capture and analyze this data, which can inform treatment decisions and improve patient outcomes. The oncology market has seen an explosion in new treatment options in recent years, including immunotherapies, targeted therapies, and combination therapies. RWE can help to inform the development and use of these treatments, as well as provide insights into their effectiveness and safety.
The Global Real World Evidence Oncology Market is segmented on the basis of Component, Application, End User, and Region.
The market is divided into three categories based on Component: datasets, consulting & analytics, and services. The datasets segment dominates the market. The increasing need for medical data handling with real-time data which is mainly contributing to segment growth.
The market is divided into four categories based on Application: drug development, approval, market access, and post market surveillance. The drug development segment dominates the market and is likely to maintain its dominance during the forecast period. This is partly due to an increase in the demand drug development in cancer treatment.
The market is divided into three categories based on End User: pharmaceutical & biotech, healthcare payers and others. The pharmaceutical & biotech segment dominates the market and is likely to maintain its dominance during the forecast period. This is partly due to an increasing demand for pharmaceutical & medical devices especially for drug development.
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
North America held the largest market share in 2021 and is projected to continue its dominance during the forecast period. The rising number for cancer cases and stiff regulations on drug approvals are contributing to market growth.
Due to the continued development in Real World Evidence Oncology technology in the coming years, the worldwide market for Real World Evidence Oncology is made of both international and local producers, making it one of the most competitive sectors in the world. Companies sell their products through a variety of channels, including corporate websites, e-commerce websites, retailers, distributors, and end consumers. Products makers compete on a variety of aspects, including component costs, performance, products making, end user, reputation, and availability. Some of the primary techniques used by corporations to strengthen their reach and expand their market share include new Component launches, distribution network development, R&D spending, and mergers and acquisitions. For instance, in 2021, IQVIA holding Inc., has investment significant amount of money in drug development for cancer care through RWE analysis.
This proposed research study on Real World Evidence Oncology market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2023-2030), considering 2022 as the base year
The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for Real World Evidence Oncology market
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the Real World Evidence Oncology market
Impact of COVID-19 on Real World Evidence Oncology market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on Real World Evidence Oncology market post-COVID will also be covered.
In order to give the users of this report a comprehensive view on the Real World Evidence Oncology market, we have also included competitive landscape and key innovator analysis for the Real World Evidence Oncology market.
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
The report offers detailed company profiling featuring major market participants which will help users to understand their financial information and strategic initiatives of players operating in the Real World Evidence Oncology market.
In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new launch, research & development, regional expansion of major participants involved in the market on global as well as regional level.
The global Real World Evidence Oncology market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
The scope of this report covers the market by its major segments, which include as follows: