It also determines the outcomes based on much larger data samples, reduces costs, and improves the efficiency of clinical trials. Register in seconds and access exclusive features. 6.5.2.3 Asia Pacific FIGURE 25 RECOMMENDED INVESTMENT MODEL FOR RWD AND RWE - 122) TABLE 142 INDIA: REAL WORLD EVIDENCE SOLUTIONS MARKET, BY COMPONENT, 20202027 (USD MILLION) This has reduced the potential value of the information produced, thus reducing the incentive to generate it. 1.3 CURRENCY 6.4.5 INTENSITY OF COMPETITIVE RIVALRY Webinar White paper Factors such as the rising number of clinical trials, increasing government initiatives for the adoption of RWE studies, increasing incidences of chronic diseases, increasing demand for better healthcare services, and the rising geriatric population are supporting the growth of the RWE solutions market in the Asia Pacific region. 11.9.2 DEALS GWI projects that spa revenues will recover quickly to pre-pandemic levels and will reach $151 billion in 2025. TABLE 179 ORACLE CORPORATION: BUSINESS OVERVIEW 2.1 RESEARCH DATA 8.2.3.1 Growing prevalence of neurological disorders to drive growth Similarly, new solution launches & enhancements were the second most preferred strategy after partnerships, collaborations, and agreements in the market. TABLE 111 SPAIN: RWE MARKET, BY APPLICATION, 20202027 (USD MILLION) United States Real-World Evidence (RWE) Solutions Market Report 2022: Market is Expected to Grow at a CAGR of 13% from 2021 to 2028 to Reach $2.01 Billion by 2028 - ResearchAndMarkets.com March 11 . FIGURE 13 REAL WORLD EVIDENCE SOLUTIONS MARKET, BY APPLICATION, 2022 VS. 2027 (USD MILLION) 9.2 PHARMACEUTICAL & MEDICAL DEVICE COMPANIES Businesses require robust evidence lifecycle management skills to demonstrate value. 10.3.4 ITALY : COMPANY SNAPSHOT (2021) For example; if you. TABLE 173 OPTUM INC.: BUSINESS OVERVIEW The real estate market includes buying and selling of residential, commercial, and industrial properties such as flats, bungalows, offices and villas. TABLE 56 NORTH AMERICA: RWE SOLUTIONS IN DRUG DEVELOPMENT AND APPROVALS MARKET, BY TYPE, 20202027 (USD MILLION) They are derived from electronic health records (EHRs), claims and billing activities, product and disease registries, etc. The pharmaceutical, biotech, and medical device industries are facing a list of unprecedented challenges led by the global economic crisis, coronavirus pandemic, and concerns about escalating healthcare costs. TABLE 8 LIST OF PATENTS IN THE RWE SOLUTIONS MARKET, 20192022 It is the process of using data to generate revenue or create new revenue-generating streams. 9.2.1 INCREASED R&D EXPENDITURE IN INNOVATIVE MEDICINES TO DRIVE MARKET GROWTH Education. RWE data is needed for new drugs to successfully pass through clinical phases. The health care community is using these data to support coverage decisions and to develop guidelines and decision support tools for use in clinical practice. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. FIGURE 56 PERKINELMER INC.: COMPANY SNAPSHOT (2021) TABLE 100 ITALY: MACROECONOMIC INDICATORS TABLE 72 EUROPE: REAL WORLD EVIDENCE SOLUTIONS MARKET, BY COUNTRY, 20202027 (USD MILLION) Meticulous Research was founded in 2010 and incorporated as Meticulous Market Research Pvt. Additionally, countries such as Japan and China in the region have a well-established clinical trial infrastructure, a strong medical workforce, robust healthcare capabilities, and stringent quality standards, which are supporting market growth in Asia Pacific. 2.2 MARKET SIZE ESTIMATION: REAL WORLD EVIDENCE SOLUTIONS MARKET 5.2.3 OPPORTUNITIES Additionally, the adoption of RWE in the pharmaceutical industry continues to increase due to its use in meeting regulatory compliance requirements as well as payer demands related to HEOR. Poor data quality costs the US economy up to $3.1 trillion yearly. Over the next five years up to 2025,. Real-world evidence (RWE) is clinical evidence gathered via real-world data (RWD) analysis on a medical product's use and potential benefits or risks. 5.2.2 RESTRAINTS TABLE 188 CEGEDIM HEALTH DATA: BUSINESS OVERVIEW 11.8.1 PROGRESSIVE COMPANIES Thus, stakeholders are reluctant to utilise evidence lacking a standard data generation procedure. 1.5 STAKEHOLDERS TABLE 177 THERMO FISHER SCIENTIFIC INC.: BUSINESS OVERVIEW Big Data Market Size, Global Industry Forecast. 6.10 KEY STAKEHOLDERS AND BUYING CRITERIA The world's patient population is experiencing a rapidly increasing frequency of drug shortages whereby patients cannot get access to the medicines they critically need. TABLE 139 CHINA: RWE SOLUTIONS IN DRUG DEVELOPMENT AND APPROVALS MARKET, BY TYPE, 20202027 (USD MILLION) Real World Evidence Solutions Market Size And Forecast Real World Evidence Solutions Market size was valued at USD 870.79 Million in 2020 and is projected to reach USD 2463.14 Million by 2028, growing at a CAGR of 13.92% from 2021 to 2028. Learn more about how Statista can support your business. TABLE 116 REST OF EUROPE: DISPARATE DATA SETS MARKET, BY TYPE, 20202027 (USD MILLION) 12.1.11 SAS INSTITUTE In order to prove value, companies need strong evidence of lifecycle management capabilities. TABLE 2 RISK ASSESSMENT: REAL WORLD EVIDENCE SOLUTIONS MARKET 5.2.4.1 Lack of universally accepted methodology standards and data processing infrastructure Most pharmaceutical, biopharmaceutical, and medical device companies continue to invest heavily in the development of novel drugs and devices. In addition to this, increasing focus on drug development and easy drug approval also drives the country's real-world evidence solutions market. TABLE 51 NORTH AMERICA: REAL WORLD EVIDENCE SOLUTIONS MARKET, BY COUNTRY, 20202027 (USD MILLION) SAN FRANCISCO, Feb. 17, 2022 /PRNewswire/ -- T he global real world evidence solutions market size is anticipated to reach USD 66.4 billion by 2028, according to a new report by Grand View. TABLE 180 ELEVANCE HEALTH: BUSINESS OVERVIEW 10.3.3 FRANCE As of 2021: Tier 1 = >USD 1 billion, Tier 2 = USD 500 million to USD 1 billion, and Tier 3 =. 6.3 ECOSYSTEM ANALYSIS A breakdown of the primary respondents is provided below: Note 1: C-level primaries include CEOs, COOs, CTOs, and VPs. For our commercial pharma clients we integrate their commercial datasets such as ex-factory, in market sales and activity data. 80% of fortune 2000 companies rely on our research to identify new revenue sources. 8.5 MARKET ACCESS AND REIMBURSEMENT/COVERAGE DECISION MAKING 10.2.1 US TABLE 90 UK: REAL WORLD EVIDENCE SOLUTIONS MARKET, BY APPLICATION, 20202027 (USD MILLION) Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and commercial study of the real world evidence solutions market. 11.8.3 RESPONSIVE COMPANIES 12.1.1 IQVIA HOLDINGS INC. The primary sources from the demand side included Directors, and strategy managers of pharmaceutical and medical device companies, insurance providers, healthcare providers, and department heads. TABLE 107 SPAIN: MACROECONOMIC INDICATORS The real-world data (RWD) market is expected to grow at a CAGR of 7.4% from 2022 to 2029 to reach $1.66 billion by 2029. As a Premium user you get access to the detailed source references and background information about this statistic. TABLE 152 REST OF ASIA PACIFIC: RWE SOLUTIONS IN DRUG DEVELOPMENT AND APPROVALS MARKET, BY TYPE, 20202027 (USD MILLION) In 2021, the market access & reimbursement/coverage decisions segment accounted for the largest share of the overall real-world evidence solutions market. TABLE 48 RWE SOLUTIONS MARKET FOR HEALTHCARE PROVIDERS, BY COUNTRY, 20202027 (USD MILLION) FIGURE 43 REAL WORLD EVIDENCE SOLUTIONS MARKET RANKING, BY KEY PLAYER, 2021 TABLE 84 GERMANY: RWE SOLUTIONS IN DRUG DEVELOPMENT AND APPROVALS MARKET, BY TYPE, 20202027 (USD MILLION) The increasing prevalence of chronic diseases, stringent regulations for drug approvals, implementation of the 21st Century Cures Act, availability of electronic datasets, advanced healthcare industry, and rising big data in healthcare are the major factors responsible for the largest market share of North America. Please create an employee account to be able to mark statistics as favorites. - 113) Given the low number of trials (57), it is difficult to reach a conclusion for each therapeutic area. TABLE 131 JAPAN: REAL WORLD EVIDENCE SOLUTIONS MARKET, BY APPLICATION, 20202027 (USD MILLION) ", IDC & Statista, Volume of data/information created, captured, copied, and consumed worldwide from 2010 to 2020, with forecasts from 2021 to 2025 (in zettabytes) Statista, https://www.statista.com/statistics/871513/worldwide-data-created/ (last visited March 02, 2023), Volume of data/information created, captured, copied, and consumed worldwide from 2010 to 2020, with forecasts from 2021 to 2025 (in zettabytes) [Graph], IDC, & Statista, June 7, 2021. TABLE 106 ITALY: RWE MARKET, BY END USER, 20202027 (USD MILLION) 13.3 CUSTOMIZATION OPTIONS [Online]. 6.1.3 RISE IN THE USE OF RWD AND RWE ACROSS THE PHARMACEUTICAL INDUSTRY Component, Application, End User & Region, North America, Europe, APAC, MEA, and Latin America. The industry insights chapters include value chain analysis, Porters five forces analysis, technology analysis, patent analysis, key conferences and events in 20222023, pricing analysis, and key stakeholders and buying criteria. 6.5.2.2 Europe For instance, although payers have started using RWE, they prefer to use randomised clinical trials (RCTs) instead of external observational data to inform drug coverage decisions. FIGURE 39 R&D SPENDING OF PHARMA MEMBER COMPANIES, 20112020 6.7.3 ASIA PACIFIC 6.5.2 HCIT EXPENDITURE/PRICING ANALYSIS IDC, & Statista. TABLE 148 REST OF ASIA PACIFIC: RWE SOLUTIONS MARKET, BY COMPONENT, 20202027 (USD MILLION) 12.1.9 ORACLE CORPORATION 12.2.2 DATAVANT 11.6 COMPANY FOOTPRINT In 2020, every person generated 1.7 megabytes in just a second. TABLE 77 EUROPE: RWE SOLUTIONS IN DRUG DEVELOPMENT AND APPROVALS MARKET, BY TYPE, 20202027 (USD MILLION) Annual size of real time data in the. The Big Data industry is driven by a sharp increase in data volume. 10.5 LATIN AMERICA Using the GlobalData Clinical Trials database, it was found that there are currently 194 real-world evidence trials, the highest annual number recorded so far, followed by 2019, which had 160 trials. How to Determine Market Size To calculate your market size, you'll either be looking for data on the number of potential customer, or number of transactions each year. 11.6.2 PRODUCT FOOTPRINT OF COMPANIES FIGURE 59 CEGEDIM HEALTH DATA: COMPANY SNAPSHOT (2021) Hence, the rising emphasis on using comprehensive RWE data is propelling the markets growth.Market Restraining FactorsMedical professionals and researchers reluctance to depend on real-world studiesNon-randomized observational studies have historically not been seen as appropriate for evaluating novel medical interventions or treatments due to methodological and research design concerns, such as the possibility of confounding and bias. RWE can assist and advance several processes, including determining which patient group will benefit from an intervention the most, assisting with regulatory approvals and completing data from randomized controlled trials, and assisting with reimbursement efforts and expanding usage indications.Therapeutic Area OutlookBased on Therapeutic Area, the Real World Evidence Solutions Market is segmented into Oncology, Cardiology, Neurology, Diabetes, Respiratory, and Others. Further, with the spread of the COVID-19 pandemic, immediate and long-term consequences have been both for people and health systems worldwide. A paid subscription is required for full access. 24*7 real-time access to a vast global inventory of hotel rooms, cars, airlines, buses, tours and other travel-related items. RWE is regularly utilized in the drug development & approval process to inform aspects of drug development, such as the natural history and epidemiology of a disease, and provide data on treatment pathways and comparator interventions in clinical practice. TABLE 176 PAREXEL INTERNATIONAL CORPORATION: BUSINESS OVERVIEW 7.3.1.5.1 Increasing number of disease registries is driving the demand for registry-based data sets in evidence generation TABLE 62 US: RWE SOLUTIONS MARKET, BY APPLICATION, 20202027 (USD MILLION) 5.2 MARKET DYNAMICS TABLE 76 EUROPE: RWE MARKET, BY APPLICATION, 20202027 (USD MILLION) R&D is very important in the pharmaceutical business in particular. TABLE 134 CHINA: MACROECONOMIC INDICATORS The rise in the need to convert data into actionable evidence increased the need to reduce drug development delays, and the availability of a large volume of healthcare data is one of the major factors driving the growth of this market segment. 7.3.1.2 Claims data set - 181) R&D is particularly important in the pharmaceutical industry. RWE can be produced through various study designs or analyses, including but not limited to randomized trials, large simple trials, pragmatic trials, and observational studies (prospective or retrospective). The growth of this market is primarily driven by the increasing growth in clinical trials and the shift from volume-based to value-based care. The 21st Century Cures Act, passed in 2016, places additional focus on the use of these types of data to support regulatory decision making, including approval of new indications for approved drugs. Through this acquisition, the company aimed at adding new capabilities to its decentralized clinical trial solutions. TABLE 109 SPAIN: RWE SOLUTIONS DATA SETS MARKET, BY TYPE, 20202027 (USD MILLION) Information about your device and internet connection, like your IP address, Browsing and search activity while using Yahoo websites and apps. FIGURE 38 ANNUAL DRUG APPROVALS BY CDER (FDA), 20112021 FIGURE 41 ASIA PACIFIC: REAL WORLD EVIDENCE SOLUTIONS MARKET SNAPSHOT FIGURE 49 ICON PLC. 12.1.15 PERKINELMER INC. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Global top 2000 strategist rely on us for their growth strategies. 13.4 RELATED REPORTS The Americas contributed 40.2% of the overall market size estimate. In addition, with the development of sophisticated, new analytical capabilities, we are better able to analyze these data and apply the results of our analyses to medical product development and approval. FIGURE 46 IQVIA HOLDINGS INC: COMPANY SNAPSHOT (2021) Congress defined RWE as data regarding the usage, or the potential benefits or risks, of a drug derived from sources other than traditional clinical trials. 9.3.1 INCREASED FOCUS ON OUTCOME-BASED PAYMENT MODELS TO DRIVE DEMAND TABLE 58 US: MACROECONOMIC INDICATORS Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Market forecast and expert KPIs for 600+ segments in 150+ countries, Insights on consumer attitudes and behavior worldwide, Business information on 60m+ public and private companies, Detailed information for 35,000+ online stores and marketplaces. TABLE 166 OVERVIEW OF STRATEGIES ADOPTED BY PLAYERS IN THE REAL WORLD EVIDENCE SOLUTIONS MARKET TABLE 39 DRUG DEVELOPMENT AND APPROVALS MARKET IN IMMUNOLOGY, BY COUNTRY, 20202027 (USD MILLION) 11.7 COMPANY EVALUATION QUADRANT TABLE 143 INDIA: RWE SOLUTIONS DATA SETS MARKET, BY TYPE, 20202027 (USD MILLION) 8.3.1 INCREASING RESEARCH IN MEDICAL DEVICE DEVELOPMENT TO DRIVE DEMAND Furthermore, it would enable the company to bring new therapies to market by leveraging these studies.Sep-2018: PAREXEL came into partnership with Datavant, a healthcare technology company focused on enabling the secure de-identification and linking of healthcare datasets. You only have access to basic statistics. . 10.3.3.1 High number of oncology clinical trials in France to drive market growth 6.7.2 EUROPE 12.1.16 COGNIZANT TECHNOLOGY SOLUTIONS CORPORATION 10.3.1 GERMANY There has been a consecutive trend for the rise in RWE trials, except . With the given market data, MarketsandMarkets offers customizations as per your companys specific needs. 12.1.4 ICON PLC. TABLE 10 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP 3 APPLICATIONS TABLE 52 NORTH AMERICA: RWE SOLUTIONS MARKET, BY COMPONENT, 20202027 (USD MILLION) FIGURE 51 THERMO FISHER SCIENTIFIC, INC.: COMPANY SNAPSHOT (2021) 12.1.2 IBM CORPORATION (IBM) The drug development and approvals segment is further sub-segmented into oncology, cardiovascular disease, neurology, immunology, and other therapeutic areas. TABLE 32 RWE SOLUTIONS MARKET, BY APPLICATION, 20202027 (USD MILLION) The PKeye platform enables the user to monitor the moving of samples efficiently through extraction, quality management, and liquid handling procedures.Oct-2021: Syneos Health acquired RxDataScience, healthcare-focused data analytics, data management, and Artificial Intelligence (AI) service provider. TABLE 80 GERMANY: REAL WORLD EVIDENCE SOLUTIONS MARKET, BY COMPONENT, 20202027 (USD MILLION) 4.3 RWE SOLUTIONS MARKET: GEOGRAPHIC GROWTH OPPORTUNITIES : BUSINESS OVERVIEW FIGURE 40 NORTH AMERICA: RWE SOLUTIONS MARKET SNAPSHOT The site is secure. Because of these benefits, the use of real-world evidence solutions is increasing in drug and medical device R&D activities. TABLE 4 INDICATIVE LIST OF NATIONAL DATABASES IN DEVELOPED COUNTRIES At USD 4.6 trillion this was an increase of 12.9% from 2020. Location: New York, New York Aetion operates as a real-world evidence and analysis platform to assist the healthcare industry. FDA has expanded on this definition as discussed below. - 59) 10.3.5.1 Rising R&D expenditure to propel market growth in Spain 7.3.1.3.1 Increasing adoption of e-prescribing systems to drive growth The new edition of the report includes profiles for Thermo Fisher Scientific Inc. (US), Elevance Health Inc. (US), Cegedim Health Data (France), LabCorp Holdings (US), HealthVerity Inc. (US), and Datavant (US). Real-world data (RWD) has become a powerful tool in the life sciences industry by pharmaceutical, biotechnology, & medical device companies; healthcare payers; healthcare providers; and other end users (academic research institutions, patient advocacy groups, regulators, and health technology assessment agencies) to add value at every stage of According to the Center for Drug Evaluation and Research (CDER), on average, 37 novel drugs per year were approved (including novel drugs, biosimilar, new formulations, and new dosage forms) between 2010 and 2019. Additionally predicted to drive market growth is rising consumer desire for better healthcare services.The market research report covers the analysis of key stake holders of the market. What are the features and benefits of GDS? The global real world evidence solutions market in terms of revenue was estimated to be worth $1.5 billion in 2022 and is poised to reach $2.9 billion by 2027, growing at a CAGR of 15.2% from 2022 to 2027. RWD can come from a number of sources, for. As of December 1, 2022, there was nearly one job opening for every active applicant on LinkedIn. The economic and investment reach of those assets are felt by millions of Americans all across the country. Similarly, RWE can accelerate label expansion and decrease the overall cost of the evidence needed for filing. According to estimates, cancer, obesity, cardiovascular diseases, and diabetes, all of which are on the rise, are responsible for over half of all fatalities from chronic diseases. Defend your Market Share or Win Competitors. Thus, a tendency toward patient-centered virtual care and digitalization is being observed in the industry. 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