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Real-world Evidence Solutions Market by Component, Application, End User - Global Forecast to 2029

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    Report

  • 235 Pages
  • July 2022
  • Region: Global
  • Meticulous Market Research Pvt. Ltd.
  • ID: 4755940

Real-world Evidence (RWE) Solutions Market Worth $4.9 billion by 2029

Real-World Evidence (RWE) Solutions Market by Component (Datasets [Clinical, Claims, Pharmacy, Integrated], Services), Application (Market Access, Oncology, Neurology, Post Market Surveillance), End User (Pharma Companies, Providers) - Forecast to 2029

The RWE solutions market is expected to grow at a CAGR of 11.8% from 2022 to 2029 to reach $4.9 billion by 2029

Following a thorough primary and secondary research and in-depth analysis of the market scenario, the report carries out the key industry drivers, restraints, opportunities, and challenges.

Rapidly growing big data in healthcare, shift from volume to value-based care, and rising focus towards personalized healthcare are the key factors driving the growth of the global RWE solutions market. Further, significant growth opportunities for existing market players and new entrants are provided by emerging markets, rising focus on end-to-end RWE services, and the rising adoption of wearable devices and AI in RWE.

The RWE solutions market is segmented by component (datasets and consulting services), application (market access & reimbursement/coverage decisions, drug development & approvals, post market surveillance, medical device development & approvals, and other applications), end user (pharmaceutical, biotechnology, and medical device companies, healthcare payers, healthcare providers, and other end users) and Geography (North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa). The study also evaluates industry competitors and analyses their market shares at the global and regional levels.

Based on component, the datasets segment is expected to command the largest share of the global RWE solutions market in 2022 due to factors such as the rising dependence of outcome-based studies on real-world data, increasing need for additional insights on epidemiology, compliance, adherence, and costs in a realistic environment, the growing amount of medical data generated in hospitals, and the rising demand for information regarding drug safety among payers, regulatory bodies, and providers.

Based on application, the drug development & approvals segment is expected to witness the fastest growth rate during the forecast period. The increasing investments by pharma and biopharma companies in R&D, increasing demand for real-world data and real-world evidence for accelerating drug discovery and development, and the growing inclination of regulatory bodies towards the use of real-world evidence (RWE) are the factors contributing to the growth of this segment.

Based on end user, the pharmaceutical, biotechnology, & medical device companies segment is expected to witness the fastest growth rate during the forecast period. The increasing importance of RWE studies in drug development &approvals and the growing need to avoid costly drug recalls and assess drug performance in real-world settings are the factors contributing to the growth of this segment.

An in-depth analysis of the geographical scenario of the RWE solutions market provides detailed qualitative and quantitative insights about the five major geographies (North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa) along with the coverage of major countries in each region. North America is expected to command the largest share of the global RWE solutions market in 2022, followed by Asia-Pacific and Europe. However, Asia-Pacific is slated to register the fastest growth rate. The growth of this regional market is driven by the growing demand for data defining the value and effectiveness of medicines, the increasing need for conducting real-world studies in drug R&D, and the rising government initiatives for promoting the use of real-world studies for regulatory decision-making.

Some of the key companies operating in the global RWE solutions market are IQVIA Holdings Inc. (U.S.), ICON plc (Ireland), PPD, Inc. (U.S.), SYNEOS HEALTH, INC. (U.S.), CLARIVATE PLC (U.S.), Medpace Holdings Inc. (U.S.), Symphony Innovation, LLC (U.S.), Clinigen Group plc (U.K.), Cognizant Technology Solutions Corporation (U.S.), IBM Corporation (U.S.), Oracle Corporation (U.S.), PAREXEL International Corporation (U.S.), PerkinElmer, Inc. (U.S.), SAS Institute Inc. (U.S.), UnitedHealth Group Incorporated (U.S.), and Flatiron Health (U.S.).

Scope of the Report


Global RWE 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
  • Consulting & Analytics

Global RWE Solutions Market, by Application

  • Market Access & Reimbursement/Coverage Decisions
  • Drug Development & Approvals
  • Oncology
  • Neurology
  • Immunology
  • Cardiovascular Diseases
  • Other Therapeutic Areas
  • Post Market Surveillance
  • Medical Device Development & Approvals
  • Other Applications

Global RWE Solutions Market, by End User

  • Pharmaceutical, Biotechnology, and Medical Device Companies
  • Healthcare Payers
  • Healthcare Providers
  • Other End Users

Global RWE 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
  • India
  • South Korea
  • Taiwan
  • Singapore
  • Rest of APAC (RoAPAC)
  • Latin America
  • Middle East & Africa

Table of Contents

1. Introduction
1.1. Market Definition
1.2. Market Ecosystem
1.3. Currency
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. Market Overview
4.2. Drivers
4.2.1. Rising Focus on Personalized Healthcare
4.2.2. Delays in Drug Development and the Consequent Increase in Development Costs
4.2.3. Growing Incidence of Chronic Diseases
4.2.4. Shift Toward Value-based Care
4.2.5. Rapidly Growing Big Data in the Healthcare Sector
4.3. Restraints
4.3.1. Reluctance to Rely on Real-World Studies
4.4. Opportunities
4.4.1. Emerging Economies
4.4.2. Rising Focus on end-to-end RWE Services
4.5. Challenges
4.5.1. Lack of Standardized Methodologies for Developing RWE
4.6. Key Market Trends
4.6.1. The Incorporation of Artificial Intelligence (AI) in the RWE Industry
4.6.1.1. The Adoption of AI Technologies is Growing in the Following Areas:
4.6.1.1.1. Clinical Trials Design
4.6.1.1.2. Modeling and Forecasting Patient Enrichment & Recruitment
4.6.1.1.3. Selecting Investigator Site
4.6.1.1.4. Patient Monitoring & Managing and Medication Adherence & Retention
4.6.1.1.5. AI-enabled Clinical Trial Analytics
4.6.1.1.6. Outsourcing Essential AI Solutions Via Strategic Partnerships & Collaborations
4.6.1.1.7. Market Access Using AI Solutions
4.6.1.1.8. Post-market Surveillance Using AI Solutions
4.6.1.2. Case Studies for AI-based RWE Solutions
4.6.1.2.1. AI-based RWE Solutions for Medical Device Post-market Studies - Huma.AI (U.S.)
4.6.1.2.2. AI-enabled RWE Solutions to Support Clinical Decision-making in Drug Research and Development - Owkin, Inc. (France)
4.6.1.2.3. AI-integrated RWE Solutions for Market Access - Medaffcon Oy (Finland)
4.6.1.2.4. Leveraging Real-world Data Insights Using AI and Machine Learning Algorithms - Aetion, Inc. (U.S.) & Quinten Health (France)
4.6.1.2.5. AI-powered Real-world Medical Imaging - Life Image Inc. (U.S.)
4.6.1.2.6. AI-powered RWE Platform to Track Adverse Events - Data2life (Israel)
4.6.1.2.7. AI-powered RWE Solutions to Predict Patients' Health at Critical Care Units - Phastar (U.K.)
4.6.2. Growing Adoption of RWE in Drug Development and Commercialization
4.6.3. Rising Number of Consolidations
4.6.4. Improved Patient Outcomes and Value Creation From Real-world Evidence
4.7. The Impact of COVID-19
5. Real-world Evidence (RWE) Solutions Market: 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 (Emr/Genomic/Integrated Datasets)
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. 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. Other Disparate Datasets
7.2.2. Integrated Datasets
7.3. Consulting & Analytics
8. Real-world Evidence Solutions Market, by Application
8.1. Introduction
8.2. Market Access & Reimbursement/Coverage Decisions
8.3. Drug Development & Approvals
8.3.1. Oncology
8.3.2. Neurology
8.3.3. Immunology
8.3.4. Cardiovascular Diseases
8.3.5. Other Therapeutic Areas
8.4. Medical Device Development & Approvals
8.5. Post-market Surveillance
8.6. Clinical & Regulatory Decision-making
9. Real-world Evidence Solutions Market, by End User
9.1. Introduction
9.2. Pharmaceutical, Biotechnology, and Medical Device Companies
9.3. Healthcare Payers
9.4. Healthcare Providers
9.5. Other End Users
10. 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. U.K.
10.3.2. Germany
10.3.3. France
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. India
10.4.4. South Korea
10.4.5. Taiwan
10.4.6. Singapore
10.4.7. 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
11.4. Market Share Analysis (2021)
11.4.1. IQVIA Holdings, Inc. (U.S.)
11.4.2. ICON Plc (Ireland)
11.4.3. PPD Inc. (U.S.)
12. Company Profiles (Business Overview, Financial Overview, Product Portfolio, Strategic Developments)
12.1. IQVIA Holdings Inc.
12.2. PPD Inc.
12.3. ICON Plc
12.4. Parexel International Corporation
12.5. UnitedHealth Group Incorporated
12.6. Flatiron Health, Inc.
12.7. Oracle Corporation
12.8. SAS Institute, Inc.
12.9. Anthem, Inc.
12.10. Clinigen Group Plc
12.11. Cognizant Technology Solutions Corporation
12.12. PerkinElmer, Inc.
13. Appendix
13.1. Questionnaire
13.2. Available Customization

Samples

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Companies Mentioned

  • Anthem Inc.
  • Clinigen Group plc
  • Cognizant Technology Solutions Corporation
  • IBM Corporation
  • ICON plc
  • IQVIA
  • Oracle Corporation
  • PAREXEL International Corporation
  • PerkinElmer Inc.
  • PPD Inc.
  • SAS Institute Inc.
  • UnitedHealth Group Incorporated
  • Flatiron Health