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Real World Evidence (RWE) Solutions Market by Component [Datasets, EMR, Services], Application [Drug Development and Approvals (Oncology, Neurology, Immunology), Market Access, Medical Device Development], End User - Forecast to 2027

  • ID: 4755940
  • Report
  • December 2020
  • Region: Global
  • 194 Pages
  • Meticulous Market Research Pvt. Ltd.

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Real-World Evidence (RWE) Solutions Market worth $1.64 billion by 2024

FEATURED COMPANIES

  • Anthem Inc. (U.S.)
  • Clinigen Group plc (U.K.)
  • IBM Corporation (U.S.)
  • ICON plc (Ireland)
  • IQVIA (U.S.)
  • Oracle Corporation (U.S.)
The real-world evidence solutions market is expected to grow at a CAGR of 16.5% from 2020 to 2027 to reach USD 3.13 billion by 2027.

Succeeding an extensive secondary and primary research and in-depth analysis of the market scenario, the report carries out the key industry drivers, restraints, challenges, and opportunities. The growth in the real-world evidence solutions market is mainly attributed to the rising geriatric population and burden of chronic diseases, the shift towards value-based care, growing focus on personalized healthcare, delays in drug development and the subsequent increase in development costs, and expanding use of RWE for regulatory decision making. Moreover, growth opportunities in emerging markets; rising focus on end-to-end RWE services; and emerging roles of wearable devices, social media, and AI in RWE provide growth opportunities for players operating in the real-world evidence solutions market.

Based on component, in 2020, the datasets segment is expected to account for the largest share due to the increasing need for additional insights on epidemiology; compliance, adherence, and costs in a realistic environment; rise in demand for information by the payers, regulatory bodies, and providers with regards to drug safety; growing amount of medical data generated in hospitals and healthcare facilities; and increasing dependence on outcome-based studies on real-world data.

Based on application, the drug development and approvals segment is estimated to account for the largest share of the market in 2020. An increase in the demand of RWD and RWE to accelerate drug discovery & development, increasing investment by biopharmaceutical companies in R&D, and growing inclination of regulatory bodies towards RWE are expected to propel the growth of this segment.

In terms of end-users of real-world evidence solutions, pharmaceutical, biotech & medical device companies tend to use them extensively. The increasing importance of RWE studies in drug development and approvals, growing focus to avoid costly drug recalls, and the increasing need to assess drug performance in real-world settings are the factors driving this end-user segment.

An in-depth analysis of the real-world evidence solutions market provides detailed qualitative and quantitative insights about the five major geographies (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa) and the coverage of major countries in each region. North America is estimated to account for the largest share of the real-world evidence solutions market in 2020, followed by Europe, Asia-Pacific, Latin America, and Middle East & Africa.

The key players operating in the real-world evidence solutions market are Anthem, Inc. (U.S.), Clinigen Group plc (U.K.), Cognizant Technology Solutions Corporation (U.S.), IBM Corporation (U.S.), ICON plc (Ireland), IQVIA (U.S.), Optum (A Subsidiary of United Health Group, Inc.) (U.S.), Oracle Corporation (U.S.), PAREXEL International Corporation (U.S.), PerkinElmer, Inc. (U.S.), PPD Inc., (U.S.), SAS Institute Inc. (U.S.), and Syneos Health, Inc. (U.S.), among others.

Scope of the report:

Real-world Evidence Solutions Market, by Component
  • Datasets
  • Disparate Datasets
  • EMR/EHR/Clinical data
  • Claims & Billing Data
  • Pharmacy Data
  • Product/Disease Registries Data
  • Other Disparate Datasets
  • Integrated Datasets
  • Services
Real-world Evidence Solutions Market, by Application
  • Drug Development & Approvals
  • Oncology
  • Cardiovascular Disease
  • Neurology
  • Immunology
  • Others Therapeutic Areas
  • Medical Device Development & Approvals
  • Market Access & Reimbursement/Coverage Decisions
  • Clinical Decision-Making
  • Other Applications
Real-world Evidence Solutions Market, by End User
  • Pharmaceutical, Biotechnology & Medical Device Companies
  • Healthcare Payers
  • Healthcare Providers
  • Other End Users
Real-world Evidence Solutions Market, by Geography
  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Rest of Europe (RoE)
  • Asia-Pacific (APAC)
  • Japan
  • China
  • Rest of APAC (RoAPAC)
  • Latin America
  • Middle East & Africa
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Anthem Inc. (U.S.)
  • Clinigen Group plc (U.K.)
  • IBM Corporation (U.S.)
  • ICON plc (Ireland)
  • IQVIA (U.S.)
  • Oracle Corporation (U.S.)
1. Introduction
1.1. Market Definition
1.2. Market Ecosystem
1.3. Currency
1.4. Key Stakeholders

2. Research Methodology
2.1. Research Process
2.2. Data Collection & Validation
2.2.1. Secondary Research
2.2.2. Primary Research
2.3. Market Assessment
2.3.1. Market Size Estimation
2.3.1.1. Bottom-Up Approach
2.3.1.2. Top-Down Approach
2.3.1.3. Growth Forecast
2.3.2. Market Share Analysis
2.4. Assumptions for the Study
2.5. Limitations for the Study

3. Executive Summary

4. Market Insights
4.1. Introduction
4.2. Drivers
4.2.1. Growing Burden of Chronic Diseases in Geriatric Population
4.2.2. Delays in Drug Development and the Subsequent Increase in Development Costs
4.2.3. Rising Focus Towards Personalized Healthcare
4.2.4. Shift Towards Value-Based Care
4.2.5. Impact Assessment of COVID-19
4.2.6. Rapidly Growing Big Data in Healthcare
4.3. Restraints
4.3.1. Reluctance to Rely on Real-World Studies
4.4. Challenges
4.4.1. Lack of Standardized Methodologies to Develop RWE
4.5. Opportunities
4.5.1. Emerging Economies
4.5.2. Rising Focus on End-to-End RWE Services
4.5.3. Rising Adoption of Wearable Devices and Artificial Intelligence in RWE

5. Regulatory Analysis
5.1. Introduction
5.2. North America
5.3. Europe
5.4. Asia-Pacific
5.5. Rest of the World

6. Pricing Models
6.1. Introduction
6.2. Pay Per Patient Record (Volume-Based Pricing)
6.3. Pay Per Usage (Value-Based Pricing)
6.4. Annual Subscription

7. Global Real-World Evidence Solutions Market, by Component
7.1. Introduction
7.2. Datasets
7.2.1. Disparate Datasets
7.2.1.1. EMR/EHR/Clinical Data
7.2.1.2. Claims & Billing Data
7.2.1.3. Pharmacy Data
7.2.1.4. Product/Disease Registries Data
7.2.1.5. Others
7.2.2. Integrated Datasets
7.3 Services

8. Global Real-World Evidence Solutions Market, by Application
8.1. Introduction
8.2. Drug Development & Approvals
8.2.1 Oncology
8.2.2 Cardiovascular Disease
8.2.3 Neurology
8.2.4 Immunology
8.2.5 Others Therapeutic Areas
8.3. Medical Device Development & Approvals
8.4. Market Access & Reimbursement/Coverage Decisions
8.5. Clinical Decision-Making
8.6. Other Applications

9. Global Real-World Evidence Solutions Market, by End User
9.1. Introduction
9.2. Pharmaceutical, Biotechnology & Medical Device Companies
9.3. Healthcare Payers
9.4. Healthcare Providers
9.5. Other End Users

10. Global Real-World Evidence Solutions Market, by Geography
10.1. Introduction
10.2. North America
10.2.1. U.S.
10.2.2. Canada
10.3. Europe
10.3.1. Germany
10.3.2. France
10.3.3. U.K.
10.3.4. Italy
10.3.5. Spain
10.3.6. Rest of Europe
10.4. Asia-Pacific
10.4.1. Japan
10.4.2. China
10.4.3. Rest of Asia-Pacific
10.5. Latin America
10.6. Middle East & Africa

11. Competitive Landscape
11.1. Introduction
11.2. Key Growth Strategies
11.3. Competitive Benchmarking
11.3.1. Competitive Benchmarking, by Methodology
11.4. Market Share Analysis (2019)

12. Company Profiles
12.1. IQVIA Holdings Inc. (U.S.)
12.2. ICON plc (Ireland)
12.3. Parexel International Corporation (U.S.)
12.4. PPD Inc. (U.S.)
12.5. International Business Machines Corporation (U.S.)
12.6. UnitedHealth Group Incorporated (U.S.)
12.7. Oracle Corporation (U.S.)
12.8. SAS Institute Inc. (U.S.)
12.9. Anthem Inc. (U.S.)
12.10 Clinigen Group plc (U.K.)
12.11 Cognizant Technology Solutions (CTS) Corporation
12.12. PerkinElmer, Inc. (U.S.)

13. Appendix
13.1. Questionnaire
13.2. Available Customization
Note: Product cover images may vary from those shown

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  • Anthem Inc. (U.S.)
  • Clinigen Group plc (U.K.)
  • Cognizant Technology Solutions Corporation (U.S.)
  • IBM Corporation (U.S.)
  • ICON plc (Ireland)
  • IQVIA (U.S.)
  • Optum (A Subsidiary of United Health Group Inc.) (U.S.)
  • Oracle Corporation (U.S.)
  • PAREXEL International Corporation (U.S.)
  • PerkinElmer Inc. (U.S.)
  • PPD Inc.(U.S.)
  • SAS Institute Inc. (U.S.)
  • Syneos Health Inc. (U.S.)
Note: Product cover images may vary from those shown
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