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At a CAGR of 9.2% between 2023 and 2030, the global real world evidence solutions market is forecast to expand from its 2022 valuation of $2.49 billion. Market expansion is predicted to be driven by rising R&D spending and regulatory support for Real World Evidence Solutions (RWE). The expansion should also be helped along by the transition from volume to value-based care. Disruptions to normal business operations were experienced by numerous market participants as a result of the COVID-19 epidemic.
Patient outcomes are analysed using real-world data, too, so that patients can get the best care possible. EHR, healthcare billing and claims systems, registries, patient-provided data, mobile device, and other data sources are analysed to create RWE. It might come from either purely observational or purely experimental sources, as well as from databases. When clinical evaluations do not take into consideration the full patient group with the ailment, real world evidence solutions are applied. The solutions to these issues and a more comprehensive evaluation of the pharmaceutical effects can be found in real-world evidence.
The rising global incidence of cancer and other chronic diseases is a major element fueling the Real World Evidence Solutions Market, as is the need for novel medication and medical device development. The industry is also being bolstered by the increasing number of pipeline medications and the rising popularity of technologically superior real-world evidence solutions. Increases in research and development (R&D) activities, government efforts, advances in healthcare infrastructure, and funding for research projects around the world all contribute to the expansion of the industry. The real-world evidence solutions market is growing because of several factors. These include an increase in the number of key competitors and the tactics implemented by them, as well as an increase in the need for technologically advanced medical devices used to conduct real-time surveys and clinical trials.
In addition, the increasing demand for EHR is fueling the expansion of the real world evidence solutions industry. Electronic health records (EHRs) are the most common source of healthcare data useful for conducting outcome-based investigations. The information the FDA may get and use from EHRs is growing in significance. More and more government agencies throughout the world are implementing initiatives to promote the utilisation of electronic health record and medical record data. For instance, in order to digitalize India's whole healthcare ecosystem, the Ministry of Health and Family Welfare (MoHFW) issued a drafting policy in September 2020 called the Health Data Management Policy.
The majority of pharmaceutical, biopharmaceutical, and medical device corporations maintain significant spending on new product research. The pharmaceutical sector places a premium on research and development. Pharmaceutical and biopharmaceutical businesses are increasingly turning to fully integrated or functional outsourcing services, from the early development stage all the way through to the late stage, in order to keep up with the growing needs of drug discovery and development. The pharmaceutical industry invests the biggest share of its revenue in R&D compared to all other industries. The rising cost of drug development is fueling an increase in research and development spending, which in turn is driving demand for a wide range of preclinical and clinical services.
Although RWE has been widely adopted, there are still others who are hesitant to rely on real-world studies. In the case of drug coverage choices, for instance, payers have started employing RWE but favour using data from randomised clinical trials (RCTs) over external observational studies. The availability of different norms and techniques for evaluating evidence from actual clinical practise is a crucial factor in favour of this option. In addition, there is a great deal of heterogeneity in the procedures and data utilised by different payers when determining which drugs will be covered. When it comes to the pharmaceutical technology assessment (PTA), these variances might affect reimbursement, patient access, and even healthcare outcomes among different health plans. Therefore, stakeholders are hesitant to use evidence without a consistent method of data gathering.
Report Coverage
Global Real World Evidence Solutions 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 Evidence Solutions report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Real World Evidence Solutions 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 Evidence Solutions 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 Evidence Solutions market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Real World Evidence Solutions 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
IBM Corporation (U.S.), IQVIA (U.S.), Parexel International Corporation (U.S.), Optum, Inc. (U.S.), PerkinElmer Inc. (U.S.), ICON plc (Ireland), Oracle (U.S.), Cognizant (U.S.), Syneos Health (U.S.), Anthem Insurance Companies, Inc. (U.S.), Clinigen Limited (U.K.), SAS Institute Inc. (U.S.), Deloitte Touche Tohmatsu Limited (U.K.), Quantzig (India), Cardinal Health (U.S.), AmerisourceBergen Corporation (U.S.), Clarivate plc, Thermo Fisher Scientific Inc. (U.S.), Medpace Holding Corporation, Perkin Elmer Inc, Flatiron Health, Elevance Health Inc, Symphony Innovation LLC
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 Evidence Solutions market based on the below-mentioned segments:
Global Real World Evidence Solutions Market, By Component
Data Sets
Clinical Settings Data
Claims Data
Pharmacy Data
Patient-powered Data
Services
Global Real World Evidence Solutions market, By Application
Market Access and Reimbursement Coverage Decisions
Drug Development and Approvals
Post Market Surveillance
Medical Device Development and Approvals
Others
Global Real World Evidence Solutions Market, By End User
Pharmaceutical and Medical Device Companies
Healthcare Payers
Healthcare Providers
Other End Users
Global Real World Evidence Solutions market, Regional Analysis
Patient outcomes are analysed using real-world data, too, so that patients can get the best care possible. EHR, healthcare billing and claims systems, registries, patient-provided data, mobile device, and other data sources are analysed to create RWE. It might come from either purely observational or purely experimental sources, as well as from databases. When clinical evaluations do not take into consideration the full patient group with the ailment, real world evidence solutions are applied. The solutions to these issues and a more comprehensive evaluation of the pharmaceutical effects can be found in real-world evidence.
The rising global incidence of cancer and other chronic diseases is a major element fueling the Real World Evidence Solutions Market, as is the need for novel medication and medical device development. The industry is also being bolstered by the increasing number of pipeline medications and the rising popularity of technologically superior real-world evidence solutions. Increases in research and development (R&D) activities, government efforts, advances in healthcare infrastructure, and funding for research projects around the world all contribute to the expansion of the industry. The real-world evidence solutions market is growing because of several factors. These include an increase in the number of key competitors and the tactics implemented by them, as well as an increase in the need for technologically advanced medical devices used to conduct real-time surveys and clinical trials.
In addition, the increasing demand for EHR is fueling the expansion of the real world evidence solutions industry. Electronic health records (EHRs) are the most common source of healthcare data useful for conducting outcome-based investigations. The information the FDA may get and use from EHRs is growing in significance. More and more government agencies throughout the world are implementing initiatives to promote the utilisation of electronic health record and medical record data. For instance, in order to digitalize India's whole healthcare ecosystem, the Ministry of Health and Family Welfare (MoHFW) issued a drafting policy in September 2020 called the Health Data Management Policy.
The majority of pharmaceutical, biopharmaceutical, and medical device corporations maintain significant spending on new product research. The pharmaceutical sector places a premium on research and development. Pharmaceutical and biopharmaceutical businesses are increasingly turning to fully integrated or functional outsourcing services, from the early development stage all the way through to the late stage, in order to keep up with the growing needs of drug discovery and development. The pharmaceutical industry invests the biggest share of its revenue in R&D compared to all other industries. The rising cost of drug development is fueling an increase in research and development spending, which in turn is driving demand for a wide range of preclinical and clinical services.
Although RWE has been widely adopted, there are still others who are hesitant to rely on real-world studies. In the case of drug coverage choices, for instance, payers have started employing RWE but favour using data from randomised clinical trials (RCTs) over external observational studies. The availability of different norms and techniques for evaluating evidence from actual clinical practise is a crucial factor in favour of this option. In addition, there is a great deal of heterogeneity in the procedures and data utilised by different payers when determining which drugs will be covered. When it comes to the pharmaceutical technology assessment (PTA), these variances might affect reimbursement, patient access, and even healthcare outcomes among different health plans. Therefore, stakeholders are hesitant to use evidence without a consistent method of data gathering.
Report Coverage
Global Real World Evidence Solutions 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 Evidence Solutions report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Real World Evidence Solutions 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 Evidence Solutions 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 | IBM Corporation (U.S.), IQVIA (U.S.), Parexel International Corporation (U.S.), Optum, Inc. (U.S.), PerkinElmer Inc. (U.S.), ICON plc (Ireland), Oracle (U.S.), Cognizant (U.S.), Syneos Health (U.S.), Anthem Insurance Companies, Inc. (U.S.), Clinigen Limited (U.K.), SAS Institute Inc. (U.S.), Deloitte Touche Tohmatsu Limited (U.K.), Quantzig (India), Cardinal Health (U.S.), AmerisourceBergen Corporation (U.S.), Clarivate plc, Thermo Fisher Scientific Inc. (U.S.), Medpace Holding Corporation, Perkin Elmer Inc, Flatiron Health, Elevance Health Inc, Symphony Innovation LLC |
| 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 Evidence Solutions Market from 2021 to 2030.
- Market Forecast for Real World Evidence Solutions 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 Evidence Solutions competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Real World Evidence Solutions
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Real World Evidence Solutions market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Real World Evidence Solutions 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
IBM Corporation (U.S.), IQVIA (U.S.), Parexel International Corporation (U.S.), Optum, Inc. (U.S.), PerkinElmer Inc. (U.S.), ICON plc (Ireland), Oracle (U.S.), Cognizant (U.S.), Syneos Health (U.S.), Anthem Insurance Companies, Inc. (U.S.), Clinigen Limited (U.K.), SAS Institute Inc. (U.S.), Deloitte Touche Tohmatsu Limited (U.K.), Quantzig (India), Cardinal Health (U.S.), AmerisourceBergen Corporation (U.S.), Clarivate plc, Thermo Fisher Scientific Inc. (U.S.), Medpace Holding Corporation, Perkin Elmer Inc, Flatiron Health, Elevance Health Inc, Symphony Innovation LLC
Primary Target Market
- Market Players of Real World Evidence Solutions
- 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 Evidence Solutions market based on the below-mentioned segments:
Global Real World Evidence Solutions Market, By Component
Data Sets
Clinical Settings Data
Claims Data
Pharmacy Data
Patient-powered Data
Services
Global Real World Evidence Solutions market, By Application
Market Access and Reimbursement Coverage Decisions
Drug Development and Approvals
Post Market Surveillance
Medical Device Development and Approvals
Others
Global Real World Evidence Solutions Market, By End User
Pharmaceutical and Medical Device Companies
Healthcare Payers
Healthcare Providers
Other End Users
Global Real World Evidence Solutions 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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