Overview

Real-World Evidence Solutions Market is poised to value over USD 3.16 billion by 2028 end with a CAGR of over 14.9% during the forecast period 2021 to 2028.

Randomised Controlled Trial are used to obtain results over a small patient set in a highly contained environment in a short time and across clinical trial centres that are dispersed. The life science companies have cited the potential of real-world data which is why they are emphasizing on evaluating the cost efficiency of drugs in real time and understanding their effect on the quality of healthcare. To fulfil the rising needs of the healthcare industry, there is a surging insistence for real-world proofs that rely on patient data registered by the administrators and practitioners during daily course. The data is collected from different sources and are used for making decisions, developing drugs and devices, reducing costs, improvements in the coordination of care and post-market monitoring.

Market Segmentation:
By Component
•   Data Sets
   o Clinical Settings Data
o Claims Data
o Pharmacy Data
o Patient-Powered Data
•   Services
By Therapeutic area
•   Oncology
•   Cardiovascular Disease
•   Neurology
•   Immunology
•   Others
By End User
•   Pharmaceutical and Biopharmaceutical Companies
•   Healthcare Payers
•   Healthcare Providers
•   Other End Users
By Region
•   North America
•   Europe
•   Asia-Pacific
•   Latin America
•   Middle East and Africa

The market is divided into component, Therapeutic area, end user and region. The component segment is fragmented into data sets and consulting. The data sets segment is fragmented into disparate data sets and integrated data sets. The data sets segment is predicted to hold the largest real-world evidence solutions market share owing to an increase in the amount of medical data that is generated in hospitals, rising dependence of studies based on outcomes on the basis of real world data, increased insistence for regulatory providers and bodies and payer information pertaining to drug safety. The application segment is categorised into oncology, CVD, neurology, infection, drug development and regulatory. The drug development and approvals segment dominated the market, and this can be credited to surging demand of RWE and RWD to boost the drug development and discovery, rising investments made by the biopharma companies in research and development activities. The end user segment is fragmented into pharmaceutical and biopharma companies, healthcare payers, healthcare providers and other end users. The pharmaceutical and biopharma companies lead the market, and this can be credited to the rising importance of studies pertaining to RWE in drug approvals and development, increased emphasis in avoiding expensive drug recalls.

Regional Analysis:

The North America region is predicted to dominate the market and this can be credited to the availability of data sets that are real-world, rising emphasis on care based on values, increased expenditure on research and development by biopharma companies, increased focus on early device and drug approvals and development and a strong presence of key market players in the region. Furthermore, strict rules and regulation for approving drugs and bolstering policies of the government.

Competitive Landscape:

Some of the prominent players included are Anthem, Inc., Clinigen Group plc, Cognizant, IBM Corporation, ICON plc, IQVIA, Optum,Inc., Oracle Corporation, PAREXEL International Corporation, PerkinElmer Inc., Pharmaceutical Product Development LLC., SAS Institute Inc., Syneos Health.

FutureWise Key Takeaways:

• Growth prospects
• SWOT analysis
• Key market trends
• Key data-points affecting market growth

Objectives of the Study:

• To provide with an exhaustive analysis on the global real-world evidence solutions market by component, by therapeutic area, by end user and by region
• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions (along with countries)— North America, Europe, Asia Pacific, Latin America and Middle East and Africa
• To record, evaluate and analyze competitive landscape mapping- product launches, technological advancements, mergers and expansions

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