![Real-world Data (RWD) Market Size, Industry Analysis By Source (EMR, Claims, Pharmacy, Disease Registries), Application [Market Access, Drug Development & Approvals (Oncology, Neurology), Post Market Surveillance], End User (Pharma, Payers, Providers) – Global, Trends, Share And Forecast 2023-2030](https://www.infinitivedataexpert.com/assets/img/infinitive-Report-Cover.png)
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Forecasts place the value of the worldwide real world data (RWD) market at $4.09 billion in 2030, up from $1.59 billion in 2023, a compound annual growth rate (CAGR) of 15.5%. The expansion of the market is being fueled by the rising use of RWD in pharmaceutical R&D, FDA approvals, drug access, and post-market monitoring.
Computing devices, mobile phones, wearables, and other biosensors are being increasingly put to use to collect and store vast volumes of information on people's health. This information could be used to improve the planning and execution of clinical trials and studies in the healthcare setting, allowing researchers to more effectively address topics that were previously intractable. We can also better analyse these data and use the results of our analysis to apply to medical product development and approval as a consequence of the creation of sophisticated, new analytical capabilities.
The healthcare business is undergoing radical change as a result of real-world data collected by wearable gadgets, smartphone apps, and innovative clinical trials. Wearable devices are also becoming increasingly important for gathering field data. Medical professionals can benefit from the increased real-time, long-term, dynamic, and pathological process monitoring made possible by wearable technologies. The management of cardiovascular disease, sleep difficulties, and cognitive impairment, to name a few, can be simplified with these. There has been a recent uptick in the use of wearable health and wellness trackers to monitor things like exercise, sleep, temperature, and heart rate.
The major drivers for the real-world data (RWD) market are the rising prevalence of chronic diseases, delays in drug development and the resulting rise in development costs, the increasing emphasis on personalised healthcare, the transition to value-based care, and the rapidly expanding big data in the healthcare sector. However, business expansion is hindered by the absence of standardised approaches to creating solutions for data in the real world. The pharmacy data subsegment is expected to have the highest compound annual growth rate (CAGR) during the projection time frame. There is a growing realisation that data from pharmacies and electronic prescriptions can be used to inform sales and market access strategies, inform insurer and HTA decision-making, increase the likelihood of full coverage by payers, and ultimately enhance patient outcomes.
Due to the broad adoption of EHRs by healthcare providers, enormous amounts of patient data have been accumulated. Insights into real-world patient outcomes, treatment trends, and illness development can be gained from pooling and anonymizing this data. Evidence-based medicine, which is founded on RWE gleaned from RWD, is gaining popularity. Real-world data is being increasingly valued by healthcare stakeholders such as regulators, payers, and providers for determining treatment efficacy, comparative efficacy, safety, and cost-effectiveness. The Food and Drug Administration (FDA) and the European Medicines Agency (EMA) are just two of the regulatory bodies that have come to recognise the importance of real-world evidence in making regulatory decisions. Further fueling the demand for RWD is the fact that they have established recommendations and frameworks for the use of RWD and RWE in regulatory submissions, drug approvals, and post-market surveillance.
Drug development and clinical trial design can both be improved with the help of real-world data. Target populations can be determined, disease progression understood, treatment efficacy evaluated, and safety problems revealed with RWD. Research efficiency, patient recruitment, and study outcomes can all be improved by incorporating real-world knowledge into clinical trials. Comparative effectiveness study employs real-world data to evaluate the relative merits of several treatment choices in a clinical setting. Healthcare decision-makers can benefit greatly from RWD since it facilitates the evaluation of therapy efficacy, safety, and patient outcomes across a wide range of patient populations. Drug and medical device manufacturers can convince payers and health technology evaluation organisations of the value and cost-effectiveness of their products by presenting them with real-world evidence gleaned from RWD. This data can be used in market access and reimbursement talks, making it easier for novel therapies to be covered by health insurance.
Report Coverage
Global Real-world Data (RWD) research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Real-world Data (RWD) report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Real-world Data (RWD) competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Real-world Data (RWD) market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Real-world Data (RWD) market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Real-world Data (RWD) market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
IQVIA Holdings Inc., Optum, Inc. (a subsidiary of UnitedHealth Group), Cerner Corporation, Flatiron Health, Inc. (a subsidiary of Roche), IBM Corporation, Tempus Labs Inc., Syneos Health Inc., Evidera, Inc., Palantir Technologies Inc., SAS Institute Inc.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Real-world Data (RWD) market based on the below-mentioned segments:
Global Real-world Data (RWD) Market, By Source
EMR/EHR/Clinical Data
Claims & Billing Data
Pharmacy Data
Product/Disease Registries Data
Genomics Data
Other Datasets
Global Real-world Data (RWD) market, By Application
Market Access & Reimbursement/Coverage Decisions
Drug Development & Approvals
Post-market Surveillance
Medical Device Development & Approvals
Regulatory and Clinical Decision-Making
Global Real-world Data (RWD) Market, By End User
Pharmaceutical, Biotechnology, and Medical Device Companies
Healthcare Payers
Healthcare Providers
Other End Users
Global Real-world Data (RWD) market, Regional Analysis
Computing devices, mobile phones, wearables, and other biosensors are being increasingly put to use to collect and store vast volumes of information on people's health. This information could be used to improve the planning and execution of clinical trials and studies in the healthcare setting, allowing researchers to more effectively address topics that were previously intractable. We can also better analyse these data and use the results of our analysis to apply to medical product development and approval as a consequence of the creation of sophisticated, new analytical capabilities.
The healthcare business is undergoing radical change as a result of real-world data collected by wearable gadgets, smartphone apps, and innovative clinical trials. Wearable devices are also becoming increasingly important for gathering field data. Medical professionals can benefit from the increased real-time, long-term, dynamic, and pathological process monitoring made possible by wearable technologies. The management of cardiovascular disease, sleep difficulties, and cognitive impairment, to name a few, can be simplified with these. There has been a recent uptick in the use of wearable health and wellness trackers to monitor things like exercise, sleep, temperature, and heart rate.
The major drivers for the real-world data (RWD) market are the rising prevalence of chronic diseases, delays in drug development and the resulting rise in development costs, the increasing emphasis on personalised healthcare, the transition to value-based care, and the rapidly expanding big data in the healthcare sector. However, business expansion is hindered by the absence of standardised approaches to creating solutions for data in the real world. The pharmacy data subsegment is expected to have the highest compound annual growth rate (CAGR) during the projection time frame. There is a growing realisation that data from pharmacies and electronic prescriptions can be used to inform sales and market access strategies, inform insurer and HTA decision-making, increase the likelihood of full coverage by payers, and ultimately enhance patient outcomes.
Due to the broad adoption of EHRs by healthcare providers, enormous amounts of patient data have been accumulated. Insights into real-world patient outcomes, treatment trends, and illness development can be gained from pooling and anonymizing this data. Evidence-based medicine, which is founded on RWE gleaned from RWD, is gaining popularity. Real-world data is being increasingly valued by healthcare stakeholders such as regulators, payers, and providers for determining treatment efficacy, comparative efficacy, safety, and cost-effectiveness. The Food and Drug Administration (FDA) and the European Medicines Agency (EMA) are just two of the regulatory bodies that have come to recognise the importance of real-world evidence in making regulatory decisions. Further fueling the demand for RWD is the fact that they have established recommendations and frameworks for the use of RWD and RWE in regulatory submissions, drug approvals, and post-market surveillance.
Drug development and clinical trial design can both be improved with the help of real-world data. Target populations can be determined, disease progression understood, treatment efficacy evaluated, and safety problems revealed with RWD. Research efficiency, patient recruitment, and study outcomes can all be improved by incorporating real-world knowledge into clinical trials. Comparative effectiveness study employs real-world data to evaluate the relative merits of several treatment choices in a clinical setting. Healthcare decision-makers can benefit greatly from RWD since it facilitates the evaluation of therapy efficacy, safety, and patient outcomes across a wide range of patient populations. Drug and medical device manufacturers can convince payers and health technology evaluation organisations of the value and cost-effectiveness of their products by presenting them with real-world evidence gleaned from RWD. This data can be used in market access and reimbursement talks, making it easier for novel therapies to be covered by health insurance.
Report Coverage
Global Real-world Data (RWD) research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Real-world Data (RWD) report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Real-world Data (RWD) competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Real-world Data (RWD) market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | IQVIA Holdings Inc., Optum, Inc. (a subsidiary of UnitedHealth Group), Cerner Corporation, Flatiron Health, Inc. (a subsidiary of Roche), IBM Corporation, Tempus Labs Inc., Syneos Health Inc., Evidera, Inc., Palantir Technologies Inc., SAS Institute Inc. |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Real-world Data (RWD) Market from 2021 to 2030.
- Market Forecast for Real-world Data (RWD) Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Real-world Data (RWD) competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Real-world Data (RWD)
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Real-world Data (RWD) market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Real-world Data (RWD) market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
IQVIA Holdings Inc., Optum, Inc. (a subsidiary of UnitedHealth Group), Cerner Corporation, Flatiron Health, Inc. (a subsidiary of Roche), IBM Corporation, Tempus Labs Inc., Syneos Health Inc., Evidera, Inc., Palantir Technologies Inc., SAS Institute Inc.
Primary Target Market
- Market Players of Real-world Data (RWD)
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Real-world Data (RWD) market based on the below-mentioned segments:
Global Real-world Data (RWD) Market, By Source
EMR/EHR/Clinical Data
Claims & Billing Data
Pharmacy Data
Product/Disease Registries Data
Genomics Data
Other Datasets
Global Real-world Data (RWD) market, By Application
Market Access & Reimbursement/Coverage Decisions
Drug Development & Approvals
Post-market Surveillance
Medical Device Development & Approvals
Regulatory and Clinical Decision-Making
Global Real-world Data (RWD) Market, By End User
Pharmaceutical, Biotechnology, and Medical Device Companies
Healthcare Payers
Healthcare Providers
Other End Users
Global Real-world Data (RWD) market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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