Currently, the number of real-world evidence trials has increased for 2021. the market is growing at a steady rate and with the rising adoption of strategies by. 6.4.3 BARGAINING POWER OF BUYERS The global real world evidence solutions market size was valued at USD 42.4 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 8.2% from 2023 to 2030. TABLE 76 EUROPE: RWE MARKET, BY APPLICATION, 20202027 (USD MILLION) RWE experts communicate and collaborate with the subject matter experts of the pharmaceutical and medical device companies to offer services to develop intelligent RWE strategies (consulting services) and use the analytical capabilities to provide meaningful statistical insights. Data monetization is the sharing of data between companies. TABLE 72 EUROPE: REAL WORLD EVIDENCE SOLUTIONS MARKET, BY COUNTRY, 20202027 (USD MILLION) TABLE 163 MIDDLES EAST & AFRICA: RWE SOLUTIONS MARKET, BY APPLICATION, 20202027 (USD MILLION) 12.1.18 CEGEDIM HEALTH DATA TABLE 171 IQVIA HOLDINGS INC.: BUSINESS OVERVIEW TABLE 124 ASIA PACIFIC: REAL WORLD EVIDENCE SOLUTIONS MARKET, BY APPLICATION, 20202027 (USD MILLION) Here is the list of the top 10 industries using big data applications: Banking and Securities. The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely. Sign up today for your free Reader Account. February 22, 2023 08:06 ET 6.1.4 INTERNAL VS. OUTSOURCED RWE ANALYTICS APPROACH One of its mandates was for the US FDA to develop a framework to evaluate how data from sources other than clinical trials can be used to support drug approvals. Healthcare Providers. TABLE 35 DRUG DEVELOPMENT AND APPROVALS MARKET IN ONCOLOGY, BY COUNTRY, 20202027 (USD MILLION) . TABLE 187 CLINIGEN: BUSINESS OVERVIEW TABLE 8 LIST OF PATENTS IN THE RWE SOLUTIONS MARKET, 20192022 A series of well-publicized recalls, and regulatory settlements have left policymakers and consumers questioning the safety of medical products and their trust in manufacturers. 6.1.1 EMERGING ROLE OF WEARABLE DEVICES After arriving at the market size, the total market was divided into several segments and subsegments. TABLE 64 US: REAL WORLD EVIDENCE SOLUTIONS MARKET, BY END USER, 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 . Real-world data refer to observational data as opposed to data gathered in an experimental setting such as a randomized controlled trial (RCT). The worldwide market size of BI & analytics software applications could reach $17.6 billion by 2024. As a Premium user you get access to background information and details about the release of this statistic. According to Prudent Markets, Global Real World Evidence/RWE Solutions Market Size was projected at USD 40.1 billion in 2021, and is expected to increase at a CAGR of 7.8% from 2022 to 2028 . 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. The desire to drastically accelerate R&D, reinforced by a greater understanding of data science, has made the healthcare community more receptive to expanding the use of RWE beyond traditional safety-related applications. Real-world data are the data relating to patient health status and/or the delivery of health care routinely collected from a variety of sources. U.S. The figures from 2021 to 2025 were calculated by Statista based on the 2020 forecast figure and the five-year compound annual growth rate (CAGR) of 23 percent provided by the source. 12.1.11 SAS INSTITUTE For example, although payers have begun employing RWE, they opt to use internal observational data from randomized clinical trials (RCTs) to influence drug coverage choices. 7.3.2 INTEGRATED DATA SETS TABLE 63 US: RWE SOLUTIONS IN DRUG DEVELOPMENT AND APPROVALS MARKET, BY TYPE, 20202027 (USD MILLION) TABLE 31 INTEGRATED DATA SETS MARKET, BY COUNTRY, 20202027 (USD MILLION), 8 REAL WORLD EVIDENCE SOLUTIONS MARKET, BY APPLICATION (Page No. 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 79 GERMANY: MACROECONOMIC INDICATORS In September 2021, U.S. FDA released a guidance document for accessing EHR and medical claims data using real-world data to support regulatory decision-making for drug and biological products would promote the adoption of RWE even further. TABLE 37 DRUG DEVELOPMENT AND APPROVALS MARKET IN CARDIOVASCULAR DISEASE, BY COUNTRY, 20202027 (USD MILLION) The diabetes segment witnessed a significant revenue share in the real world evidence solutions market in 2021. TABLE 30 INTEGRATED DATA SETS OFFERED BY KEY MARKET PLAYERS 12.2.2 DATAVANT This includes implementing an effective governance strategy, taking help from technologies such as cloud and self-service analytics, and acquiring the ability to integrate data sets and understand the appropriate resources for the necessary analytics (and tactical issues around data access and quality). 12.1.12 AETION INC. Similarly, new solution launches & enhancements were the second most preferred strategy after partnerships, collaborations, and agreements in the market. As of 2021: Tier 1 = >USD 1 billion, Tier 2 = USD 500 million to USD 1 billion, and Tier 3 =. TABLE 183 TRINETX LLC: BUSINESS OVERVIEW FIGURE 59 CEGEDIM HEALTH DATA: COMPANY SNAPSHOT (2021) The global Real World Evidence Solutions Market size was valued at $1.4 billion in 2021, and is projected to reach $5 billion by 2031, growing at a CAGR of 13.7% from 2022 to 2031. A database of the key industry leaders was also prepared using secondary research. TABLE 21 CLAIMS DATA SETS OFFERED BY KEY MARKET PLAYERS 12.1.15 PERKINELMER INC. Real-world evidence (RWE) is clinical evidence gathered via RWD analysis on the use and potential benefits or risks of a medical product. Get full access to all features within our Business Solutions. 1.3 CURRENCY 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. Real World Data (RWD), patient data that originates from real world settings delivers powerful insights to healthcare stakeholders Podcast Leveraging insights made possible by AI technology, Medical Affairs professionals are fostering better connections with healthcare professionals. In 2021, the real-world datasets segment accounted for the larger share of the overall real-world evidence solutions market. 9.4 HEALTHCARE PROVIDERS - 81) 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. To know about the assumptions considered for the study, download the pdf brochure. TABLE 119 REST OF EUROPE: REAL WORLD EVIDENCE SOLUTIONS MARKET, BY END USER, 20202027 (USD MILLION) What are the features and benefits of GDS? This insight, in clinical settings, can be gained by combining data from randomized controlled trials with evidence from real-world settings.Regional OutlookBased on Region, the Real World Evidence Solutions Market is segmented into North America, Europe, Asia Pacific, and LAMEA. TABLE 80 GERMANY: REAL WORLD EVIDENCE SOLUTIONS MARKET, BY COMPONENT, 20202027 (USD MILLION) 11.4 MARKET RANKING ANALYSIS Over the next five years up to 2025,. The global big data analytics market size was valued at USD 240.56 billion in 2021. RWE data is needed for new drugs to successfully pass through clinical phases. TABLE 176 PAREXEL INTERNATIONAL CORPORATION: BUSINESS OVERVIEW (IDC, 2020) $72.8 billion - the projected worldwide AR/VR market size in 2024. TABLE 174 ICON PLC. 6.3 ECOSYSTEM ANALYSIS 12.1 KEY PLAYERS An official website of the United States government, : The GDS software can easily be integrated on Android, iOS, and Web platforms. Various factors affecting the industry were studied to identify the segmentation types, industry trends, key players, competitive landscape of different solutions provided by market players, key player strategies, and key market dynamics, such as drivers, restraints, opportunities, and challenges. Mr.Khushal BombeMeticulous Market Research Inc.1267WillisSt,Ste200 Redding,California,96001, U.S.USA: +1-646-781-8004Europe : +44-203-868-8738APAC: +91 744-7780008Email-[emailprotected]Visit Our Website:https://www.meticulousresearch.com/Connect with us on LinkedIn-https://www.linkedin.com/company/meticulous-researchMeticulousBolg:Content Source: https://www.meticulousresearch.com/pressrelease/238/real-world-evidence-solutions-market-2028, SOURCE Meticulous Market Research Pvt. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Industry-specific and extensively researched technical data (partially from exclusive partnerships). As soon as this statistic is updated, you will immediately be notified via e-mail. Real-world data (RWD) is data that relates to patient health status and/or the delivery of health care routinely collected from a variety of sources. The acquisition would enhance Syneos Healths ability to provide technology-enabled, insight-powered solutions. * The data was taken from various publications released over several years: Forecast for the years 2018 and 2019 as of 2018; Forecast for 2020 as of May 2021; Forecast for 2021 to 2025 as of March 2021 based on figure for 2020 provided by the source. When clinical trials cannot adequately represent the whole patient population for a given disease, real-world evidence is required.Patients who did not take part in any clinical trials, have comorbid conditions, reside in a remote location, or are older than the recommended age range may not react to the medication in consideration as expected. Methods: This review explores how hybrid study designs that include features of RCTs and studies with real-world . TABLE 181 SAS INSTITUTE: BUSINESS OVERVIEW Government. Businesses require robust evidence lifecycle management skills to demonstrate value. FIGURE 33 KEY BUYING CRITERIA FOR TOP 3 APPLICATIONS 6.1.5 INCORPORATION OF ARTIFICIAL INTELLIGENCE IN RWD MANAGEMENT FIGURE 5 SUPPLY-SIDE MARKET SIZE ESTIMATION: REVENUE SHARE ANALYSIS TABLE 59 US: RWE SOLUTIONS MARKET, BY COMPONENT, 20202027 (USD MILLION) TABLE 130 JAPAN: DISPARATE DATA SETS MARKET, BY TYPE, 20202027 (USD MILLION) At Pitt . 8.2.3 NEUROLOGY 6.10 KEY STAKEHOLDERS AND BUYING CRITERIA You can only download this statistic as a Premium user. FIGURE 42 REVENUE ANALYSIS OF KEY PLAYERS IN THE REAL WORLD EVIDENCE SOLUTIONS MARKET 1.2.3 YEARS CONSIDERED FOR THE STUDY TABLE 105 ITALY: RWE SOLUTIONS IN DRUG DEVELOPMENT AND APPROVALS MARKET, BY TYPE, 20202027 (USD MILLION) 6.8 PATENT ANALYSIS TABLE 170 OTHER DEVELOPMENTS, 20192022, 12 COMPANY PROFILES (Page No. Based on stated demand for carbon credits, demand projections from experts, and the volume of negative emissions needed to reduce emissions in line with the 1.5-degree warming goal, annual global demand for carbon credits could reach up to 1.5 to 2.0 gigatons of carbon dioxide by 2030 and up to 7 to 13 gigatons by 2050.The market size in 2030 . Looking forward, IMARC Group expects the market to reach US$ 2.7 Billion by 2028, exhibiting a growth rate (CAGR) of 8.57% during 2023-2028. Real-World Evidence (RWE) Solutions Market by Component [Datasets (Clinical, Claims, Pharmacy, Integrated), Services], Application (Market Access, Oncology, Neurology, Post Market. TABLE 152 REST OF ASIA PACIFIC: RWE SOLUTIONS IN DRUG DEVELOPMENT AND APPROVALS MARKET, BY TYPE, 20202027 (USD MILLION) TABLE 95 FRANCE: RWE SOLUTIONS DATA SETS MARKET, BY TYPE, 20202027 (USD MILLION) TABLE 135 CHINA: REAL WORLD EVIDENCE SOLUTIONS MARKET, BY COMPONENT, 20202027 (USD MILLION) You need a Statista Account for unlimited access. FIGURE 36 NUMBER OF CLINICAL TRIALS (COMPLETED), BY CONDITION/DISEASE, SEPTEMBER 2022 TABLE 147 INDIA: REAL WORLD EVIDENCE SOLUTIONS MARKET, BY END USER, 20202027 (USD MILLION) 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. TABLE 73 EUROPE: RWE SOLUTIONS MARKET, BY COMPONENT, 20202027 (USD MILLION) FIGURE 32 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP 3 APPLICATIONS 6.8.3 JURISDICTION ANALYSIS: TOP APPLICANTS (COUNTRIES) FOR PATENTS IN THE REAL WORLD EVIDENCE SOLUTIONS MARKET Because of these benefits, the use of real-world evidence solutions is increasing in drug and medical device R&D activities. TABLE 9 REAL WORLD EVIDENCE SOLUTIONS MARKET: DETAILED LIST OF CONFERENCES AND EVENTS 2.6 RISK ASSESSMENT 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). 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. Payers infrequently used real-world evidence (RWE), or information on how treatments work in the real world, to guide their medication coverage and reimbursement decisions. Real-world evidence (RWE) solutions vendors may have more opportunities to increase their investments during the medication development cycle due to the growing demand for comprehensive evidence services all throughout the product lifetime.Application OutlookBased on Application, the Real World Evidence Solutions Market is segmented into Drug Development & Approvals, Medical Device Development & Approvals, Reimbursement/Coverage & Regulatory Decision Making, and Post Market Safety & Adverse Events Monitoring. With the given market data, MarketsandMarkets offers customizations as per your companys specific needs. 8.6.1 LIMITED VALIDITY OF RANDOMIZED CONTROLLED TRIALS DRIVING THE USE OF RWE SOLUTIONS IN THE SEGMENT TABLE 77 EUROPE: RWE SOLUTIONS IN DRUG DEVELOPMENT AND APPROVALS MARKET, BY TYPE, 20202027 (USD MILLION) 2.1.1 SECONDARY DATA TABLE 2 RISK ASSESSMENT: REAL WORLD EVIDENCE SOLUTIONS MARKET FIGURE 26 INTERNAL VS. OUTSOURCED RWE ANALYTICS APPROACH To meet the demands for both drug discovery and development, pharmaceutical and biopharmaceutical companies are opting for fully integrated or functional outsourcing services, from the early development stage to the late-stage development phase. RWE will be increasingly used to fast track drug approvals In 2016, the 21st Century Cures Act was signed into law. For instance, in April 2020, ICON plc (Ireland) signed a three-year agreement with Pfizer Inc. (U.S.), under which ICON provides expertise in the planning, execution, management, and conduct of clinical trials. The healthcare landscape is continuously developing and shifting towards value-based care from volume-based care. TABLE 34 LIST OF PIPELINE DRUGS FOR ONCOLOGY (2018) TABLE 134 CHINA: MACROECONOMIC INDICATORS TABLE 109 SPAIN: RWE SOLUTIONS DATA SETS MARKET, BY TYPE, 20202027 (USD MILLION) TABLE 10 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP 3 APPLICATIONS The report presents a detailed assessment of the real world evidence solutions market, along with qualitative inputs and insights from MarketsandMarkets. TABLE 93 FRANCE: MACROECONOMIC INDICATORS Visual Data Discovery Market Size: Overview, Share, Trends with Current Market Scenario, 2027 Published: Feb. 23, 2023 at 1:20 a.m. 5.2.3 OPPORTUNITIES TABLE 83 GERMANY: RWE SOLUTIONS MARKET, BY APPLICATION, 20202027 (USD MILLION) 2.5 ASSUMPTIONS FOR THE STUDY 4.2 ASIA PACIFIC: RWE SOLUTIONS MARKET, BY END USER AND COUNTRY (2021) TABLE 186 COGNIZANT TECHNOLOGY SOLUTIONS CORPORATION: BUSINESS OVERVIEW The oncology segment dominates owing to the rising prevalence of cancer and the increasing number of clinical trials and studies focused on cancer treatment and prevention. Register in seconds and access exclusive features. 6.2 Real-World Data Sources Table 4 Indicative List of National Databases in Developed Countries 6.3 Ecosystem Analysis Figure 27 Ecosystem Coverage: Parent Market (Healthcare It Solutions) . 6.7.1.1 Case examples RWE can be produced through various study designs or analyses, including but not . - 28) 10.4 ASIA PACIFIC This data holds potential to allow us to better design and conduct clinical trials and studiesin the health care setting to answer questions previously though infeasible. Click Manage settings for more information and to manage your choices. TABLE 78 EUROPE: RWE SOLUTIONS MARKET, BY END USER, 20202027 (USD MILLION) The real estate market includes buying and selling of residential, commercial, and industrial properties such as flats, bungalows, offices and villas. FIGURE 21 EMERGING MARKETS TO REGISTER HIGHER GROWTH RATES DURING THE FORECAST PERIOD, 5 MARKET OVERVIEW (Page No. TABLE 143 INDIA: RWE SOLUTIONS DATA SETS MARKET, BY TYPE, 20202027 (USD MILLION) 5 Introduction Randomized and observational. New solution launches & enhancements enabled companies to broaden their product portfolios, advance the capabilities of existing products and services, and cater to the changing demands of users to ensure a competitive edge in the market. Coming Soon listings are homes that will soon be on the market. FIGURE 46 IQVIA HOLDINGS INC: COMPANY SNAPSHOT (2021) With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. FIGURE 58 CLINIGEN: COMPANY SNAPSHOT (2021) The Americas contributed 40.2% of the overall market size estimate. TABLE 75 EUROPE: DISPARATE DATA SETS MARKET, BY TYPE, 20202027 (USD MILLION) 13.2 KNOWLEDGE STORE: MARKETSANDMARKETS SUBSCRIPTION PORTAL TABLE 175 SYNEOS HEALTH INC.: BUSINESS OVERVIEW TABLE 85 GERMANY: RWE MARKET, BY END USER, 20202027 (USD MILLION) 5.2.2 RESTRAINTS 7.3.1.2.1 Growing need to understand the economic benefits of drug reimbursement by payers to drive growth The Foreign Direct Investment (FDI) inflows are vital for the economic development of one country, yet the COVID-19 impacted the FDI inflows throughout the world; Malaysia is no exception which makes the global FDI market has become extremely competitive. 6.5 PRICING ANALYSIS 11.9.3 OTHER DEVELOPMENTS REITs own approximately $4.5 trillion in gross real estate assets, with more than $3 trillion of that total from public listed and non-listed REITs and the remainder from privately held REITs. - 98) These companies are majorly focused on partnerships, collaborations, and agreements to accelerate the delivery of RWE datasets and consulting & analytics services and explore how real-world evidence can provide information for health technologies and improve clinical and cost-effectiveness. Chart. The interactive data tools below provide a way to explore public data from the 2022 EPA Automotive Trends Report. TABLE 67 CANADA: RWE SOLUTIONS DATA SETS MARKET, BY TYPE, 20202027 (USD MILLION) The healthcare companies segment witnessed the maximum revenue share in the real world evidence solutions market in 2021. . Poor data quality costs the US economy up to $3.1 trillion yearly. This research study involved the use of comprehensive secondary sources; directories; databases such as Bloomberg Business, Factiva, and Dun & Bradstreet; white papers; annual reports; companies house documents; investor presentations; and SEC filings of companies. TABLE 5 PORTERS FIVE FORCES ANALYSIS 10.4.1.1 Stringent regulatory scenario in Japan to restrain market growth Speak to our Analysts to Understand the Impact of COVID-19 on Your Business:https://www.meticulousresearch.com/speak-to-analyst/cp_id=4954. 11.1 OVERVIEW To profile the key players and comprehensively analyze their core competencies2 in terms of key developments, solution portfolios, and recent financials, To track and analyze competitive developments such as acquisitions, product launches, partnerships, and expansions in the real world evidence solutions market, Detailed analysis and profiling of additional market players (up to 5), Further breakdown of the RoAPAC market into Australia, South Korea, New Zealand, Hong Kong, Singapore, and other countries, Further breakdown of the RoE market into Switzerland, Russia, the Netherlands, Nordic countries, and other countries, Further breakdown of the Latin America market into Brazil, Mexico, and the Rest of Latin America, Get Data as per your Format and Definition, Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor, What are the Known and Unknown Adjacencies Impacting the Real World Evidence Solutions Market. 11.7.3 PERVASIVE PLAYERS TABLE 16 DATA SETS MARKET, BY COUNTRY, 20202027 (USD MILLION) FIGURE 25 RECOMMENDED INVESTMENT MODEL FOR RWD AND RWE This is because pharmaceuticals and biotech companies are becoming more aware of the potential value of RWE in life-cycle management and drug development, as well as how it can lower the cost of clinical trials and boost innovation efficiency.COVID-19 Impact AnalysisThe infectious coronavirus could economically impact most industries, including the pharmaceutical sector. Further understanding of the efficacy and safety of medications for diabetes and certain other diseases for which diabetes can be an underlying causative factor is necessary. 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. - 59) Manufacturing and Natural Resources. A five-year forecast of the market and noted trends. - 257) FIGURE 41 ASIA PACIFIC: REAL WORLD EVIDENCE SOLUTIONS MARKET SNAPSHOT 11.8 COMPANY EVALUATION QUADRANT FOR START-UPS/SMES 1.1 OBJECTIVES OF THE STUDY Location: New York, New York Aetion operates as a real-world evidence and analysis platform to assist the healthcare industry. In July 2022, TriNetX LLC announced the collaboration with Pediatric Medical Centers (US), to help Pediatric Medical Centers including Childrens National Hospital (US), WVU Medicine Childrens (US), and John Hopkins All Children Hospitals (US), to improvise the investor-initiated research utilizing the pediatric real-world data. TABLE 86 UK: MACROECONOMIC INDICATORS 5.2.1.1 Rise in the geriatric population and the subsequent increase in the prevalence of chronic diseases FIGURE 27 ECOSYSTEM COVERAGE: PARENT MARKET (HEALTHCARE IT SOLUTIONS) 6.4.4 THREAT OF SUBSTITUTES TABLE 131 JAPAN: REAL WORLD EVIDENCE SOLUTIONS MARKET, BY APPLICATION, 20202027 (USD MILLION) The global real world evidence solutions market is projected to grow at a Compound Annual Growth Rate (CAGR) of 15.2% from 2022 to 2027. This has reduced the potential value of the information produced, thus reducing the incentive to generate it. 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