Meticulous Research®—leading global market research company
published a research report titled “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) - Global Forecast to 2029.”
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According to this latest publication from Meticulous
Research®, the real-world evidence (RWE) solutions market is expected to grow
at a CAGR of 11.8% from 2022–2029 to reach $4.9 billion by 2029. The rapid
growth of large data in healthcare, shift from volume to value-based care, and
rising focus towards personalized healthcare are expected to positively impact
the RWE solutions market. However, the lack of standardized methodologies to
develop RWE is a major challenge for the growth of this market.
The RWE solutions market study presents historical market
data in terms of values (2020 and 2021), estimated current data (2022), and
forecasts for 2029. The 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. The study also
evaluates industry competitors and analyzes their market shares at the global
and regional levels.
Based on component, the datasets segment is estimated to
account for a larger share of the RWE solutions market in 2022. The large share
of this segment is mainly attributed to the growing amount of medical data
generated in hospitals and the increasing dependence of outcome-based studies
on real-world data. EHRs are the most commonly used form of healthcare database
that helps in conducting outcome-based studies. EHR data is playing an
increasingly vital role in collecting and generating actionable information at
the FDA. Governments across the world are undertaking initiatives to increase
the adoption of EHR/EMR data. For instance, in September 2020, to digitalize
the entire healthcare ecosystem of India, the Ministry of Health and Family
Welfare (MoHFW) released a draft policy termed the Health Data Management
Policy.
Based on application, the market access &
reimbursement/coverage decisions segment is estimated to account for the
largest share of the RWE solutions market in 2022. The pharmaceutical, biotech,
and medical device industries face unprecedented challenges due to the global
economic crisis, COVID-19 pandemic, and concerns about escalating healthcare
costs. Due to rising therapy costs, healthcare payers are increasingly focused
on evidence of clinical value for making decisions associated with providing
coverage. RWE helps provide a means for demonstrating value, ranging from
confirming randomized trial benefits in real-world populations to a fuller
characterization of resource impacts. Real-world data (RWD) is being
increasingly considered by both industry and payers. Payers use the data to
support coverage decisions, develop guidelines and decision support tools for
use in clinical practice, generate estimates of the potential population they
cover that could require the treatment, and estimate potential costs and cost
offsets.
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Based on end user, the pharmaceutical & medical device
companies segment is estimated to account for a larger share of the RWE
solutions market in 2022. The large market share of this segment is mainly
attributed 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. The healthcare landscape continues to shift
from volume to value-based care and is continuously developing. Pharmaceutical
companies have been looking for new ways to provide the best treatments for
patients. Real-world evidence helps in understanding real-life clinical
practices and actual health outcomes of drugs. Pharmaceutical and biotech
companies are increasingly utilizing real-world evidence for collecting
real-time post-trial information about drugs, which helps healthcare providers
and researchers understand the negative reactions, side effects, and medication
errors related to the drugs, thereby enabling them to control the potential
harm caused by the drugs.
This research report analyzes major geographies and provides
comprehensive analysis for North America (U.S., Canada), Asia-Pacific (China,
Japan, India, Australia, and RoAPAC), Europe (Germany, France, U.K., Italy,
Spain, and Rest of Europe), Latin America, and the Middle East & Africa.
Key companies operating in the global RWE 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.), Oracle Corporation (U.S.), PAREXEL International Corporation (U.S.),
PerkinElmer, Inc. (U.S.), PPD, Inc. (U.S.), SAS Institute Inc. (U.S.),
UnitedHealth Group Incorporated (U.S.), and Flatiron Health (U.S.).
TOP 10 COMPANIES IN REAL-WORLD EVIDENCE (RWE) SOLUTIONS
MARKET >> https://meticulousblog.org/top-10-companies-in-real-world-evidence-solutions-market/?utm_source=article&utm_medium=social&utm_campaign=product&utm_content=07-05-2024
Related Report:
TOP 10 COMPANIES IN U.S. REAL WORLD EVIDENCE SOLUTIONS
MARKET >> https://meticulousblog.org/top-10-companies-in-u-s-real-world-evidence-solutions-market/?utm_source=article&utm_medium=social&utm_campaign=product&utm_content=07-05-2024
