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Growth Insights - Real World Evidence Analytics Solutions Market

  • ID: 4536340
  • Report
  • April 2018
  • Region: Global
  • 87 Pages
  • Frost & Sullivan
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Innovation and Changing End-user Needs Driving Market Growth


Over the last 3-5 years, growing cost pressure on healthcare and pharmaceutical companies and a significant shift towards outcome based healthcare approach have resulted in companies increasingly adopting real world data and evidence solutions to optimize their operation and cost using analytics. Earlier, applications of RWE were largely limited to HEOR/pricing analytics; however digitalization of healthcare services and increased database access has resulted in applications expansion in other part of the value chain, including clinical trials, drug discovery, and life cycle management.

During 2016–2021, global real world evidence analytics solutions market is expected to grow at ~16% CAGR to approximately 430 million by 2021. Favourable regulatory environment, preference of payers using RWD to understand the economic benefit outcomes, and achieved efficiency are some of the key market growth drivers.

At present, the RWE analytics solutions market is moderately fragmented with presence of a number of life science companies, and database service providers. In addition, CROs are increasingly expanding their analytics and informatics capability to provide integrated solutions to their pharmaceutical clients. Traditionally, most database vendors have had relatively limited data analytics expertise and hence role of analytics vendors have become important in the industry. During 2017-2018, the RWE market has witnessed a number of partnership and acquisition activities as a number of industry stakeholders are looking to strengthen their technical expertise. Given existing capability gap, this trend is ecpected to continue in near future.

So far, pharmaceutical companies have adopted a hybrid approach to manage real world evidence function. Most companies have invested in developing in-house teams and they partner with external vendors either on project basis or for specific therapeutic segments. This trend is ecpected to continue over the next 3-4 years as pharmaceutical companies will first look to establish processes and structures with in their organization, before relying on external vendors. Most vendors presently offer support based solutions, and cognitive and machine learning based DIY tools are still in work-in-progress, as different healthcare databases are still evolving and being explored. We expect a medium-moderate growth in adoption of DIY tools during the forecast period.

Key Issues Addressed

  • What are they key market opportunities that make this an attractive market with significant future revenue potential for companies?
  • How are different regional market positioned to realize the available opportunities/growth potential?
  • What is the total market size and projected growth of real-world evidence analytics solutions?
  • What are the key challenges being faced by the clients? What are the key success factors for companies to remain relevant and competitive in this crowded market?
  • How product offerings in this market are likely to emerge? How transition across the value chain is happening to solve the unmet needs from customers?
  • How are current business models being replaced by innovative approaches to overcome existing challenges?
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1. Executive Summary

  • Key Findings
  • Big Market Themes

2. Market Overview

  • Market Scope and Segmentation
  • Key Questions Addressed in this Study
  • Real World Evidence-Types of Data and Usage
  • RWE Generation from RWD
  • Sources of Patient-Level Real World Data
  • Application Areas Across the Pharmaceutical Value Chain
  • Adoption of RWE/RWD Across Countries
  • Regulatory Environment-United States
  • Regulatory Environment-Europe

3. Market and Technology Trends

  • Technology Trends Overview
  • Technology Trends Explained
  • Market Trends Explained
  • Regional Perspective-The United States
  • Regional Perspective-Europe
  • Regional Perspective-Japan

4. Drivers & Restraints

  • Key Market Drivers
  • Market Drivers Explained
  • Key Market Restraints
  • Market Restraints Explained

5. Growth Environment-Real World Evidence Analytics Solutions Market

  • Revenue Forecast Assumption
  • Revenue Forecast
  • Market Breakdown by Solutions
  • Revenue Forecast Discussion

6. Growth Environment-Competitive Playbook

  • Competitive Environment-Highlights
  • Competitive Factors and Assessment
  • Competitive Benchmarking
  • Capability Mapping-Database Providers
  • Competitive Mapping-Analytics/Tools Vendors
  • Key Companies to Watch

7. Adoption among Key Pharmaceutical Companies and Initiatives Taken by Key Customers

  • Current RWD/RWE Adoption Scenario in Pharmaceutical Companies
  • Strategies Adopted by Pharmaceutical Companies-Novartis
  • Strategies Adopted by Pharmaceutical Companies-Merck
  • Strategies Adopted by Pharmaceutical Companies-Others
  • Challenges Faced by Pharmaceutical Companies

8. Visioning Scenario

  • Real World Evidence Market-Macro to Micro Visioning

9. New Business Models

  • Emerging Business Models-Real-time Analytics
  • Emerging Business Models-Collaboration between Multiple Stakeholders
  • Emerging Business Models-Partnerships among Different Stakeholders to Develop Products and Solutions
  • Application of Genomics Data in RWE/RWD Applications
  • Real-time mHealth and Wearable Data for RWE Generation

10. Growth Opportunities, Strategies and Implementation Recommendation

  • Growth Opportunity 1-Cognitive Computing and Machine Learning Based Tools
  • Growth Opportunity 2-Application-Focused Analytics Tools/Platforms
  • Growth Opportunity 3-Tools/Platforms with Capability to Handle Multi-Omics Data
  • Growth Opportunity 4-RWE Platforms Dedicated to Support Drug Development Activities
  • Strategic Imperatives-RWE Analytics Solutions Providers

11. The Last Word

  • Key Predictions
  • Legal Disclaimer

12. Appendix

  • List of Exhibits
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  • Merck
  • Novartis
Note: Product cover images may vary from those shown