Real World Evidence Solutions Market Introduction and Overview
According to SPER Market Research, the Global Real World Evidence Solutions Market is estimated to reach USD 6.86 billion by 2033 with a CAGR of 15.43%.
The report includes an in-depth analysis of the Global Real World Evidence Solutions market, including market size and trends, product mix, distribution channels, and supplier analysis. Healthcare data obtained from a range of non-traditional clinical research settings, such as electronic medical records (EMRs), claims and billing information, product and illness registries, and information acquired by mobile devices and health applications, is referred to as real-world evidence. Administrative/claims data, clinical data, patient-generated or reported data, and emerging data sources including as social media and cross-industry data collaborations such as Project Data Sphere are the four main sources of real-time data collection.
- In December 2021, EVERSANA entered a deal with Janssen Research & Development LLC (Janssen) to promote evidence-based innovation in Janssen medicines, treatments, and support for patients models.
- The Real-World Evidence Transparency Initiative will launch the Real-World Evidence Registry in October 2021 in order to foster a culture of transparency in the analysis and reporting of Real-World Evidence in healthcare and health research. ISPOR, the International Society for Pharmacoepidemiology, the Duke-Margolis Center for Health Policy, and the National Pharmaceutical Council collaborated on the Real-World Evidence Transparency Initiative.
Market Opportunities and Challenges
The driving drivers behind Real World Evidence Solutions The rise in the prevalence of cancer and chronic diseases is driving up demand for the development of new pharmaceuticals and medical technologies around the world. Furthermore, an increase in the adoption of technologically advanced real-world evidence solutions, as well as an increase in the number of pipeline medications, are major factors driving market expansion. Furthermore, higher R&D activity rates, government initiatives, enhanced healthcare infrastructure, and greater financing for research projects around the world all contribute to the market's growth.
The market for real-world evidence (RWE), which uses data from real-world healthcare settings to supplement clinical trial data, confronts a number of important hurdles. One significant impediment is data quality and standardization. RWE sources include a wide range of electronic health records, insurance claims, and other real-world data, resulting in a wide range of data formats, quality, and completeness. It is vital to ensure that data from multiple sources is consistent, reliable, and interoperable in order to provide valuable insights. Another issue is patient privacy and data security. There are issues about safeguarding individuals' privacy while collecting valuable insights because RWE relies on sensitive patient information.
Market Competitive Landscape
The market for real-world evidence solutions is fragmented and competitive. The primary methods used by players to grow and expand their position in the real-world evidence solutions market are product launches, partnerships, collaborations, agreements, and market expansions. IQVIA, ICON, PAREXEL, Oracle Corporation, and Clinigen Group are some of the market's prominent companies.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Component, By Application, By End User
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| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe.
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| Companies Covered | IQVIA Holdings, IBM Corporation, OPTUM Inc, Icon Plc, Syneous Health Inc, Paraxel Health Inc, Paraxel International Corporation, Othres |
COVID-19 Impact on Global Real World Evidence Solutions Market
The COVID-19 epidemic has had a significant impact on the market for real-world evidence (RWE). On the one hand, it has emphasized the significance of using real-world data to assess the efficacy of treatments and interventions in a more immediate and practical setting. The pandemic's urgency has accelerated the need for immediate insights beyond standard clinical studies. As a result, there is a growing interest in using RWE to examine the effects of COVID-19 treatments and vaccines, as well as their real-world impact on a variety of patient populations. The pandemic, on the other hand, has posed new problems to the RWE scenario. Healthcare service disruptions, altering patient behaviors, and overburdened healthcare systems have resulted in changes in data collection and utilization.
Key Target Audience
- Pharmaceutical and Biotechnology Companies
- Medical Device Manufacturers
- Healthcare Providers and Systems
- Payers and Insurers
- Academic and Research Institutions
- Health Technology Assessment (HTA) Bodies
- Others
Our in-depth analysis of the Real World Evidence Solutions Market includes the following segments:
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By Component:
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Services
Data Sets
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By Application:
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Drug Development and Approvals
Post-Market Surveillance
Market Access Reimbursement/Coverage Decision Making
Clinical and Regulatory Decision-Making
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By End User:
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Pharmaceutical & Medical Device Companies
Healthcare Providers
Healthcare Payers
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Key Topics Covered in the Report:
- Global Real World Evidence Solutions Market Size (FY’2023-FY’2033)
- Overview of Global Real World Evidence Solutions Market
- Segmentation of Global Real World Evidence Solutions Market By Component (Services, Data Sets)
- Segmentation of Global Real World Evidence Solutions Market By Application (Drug Development and Approvals, Post-Market Surveillance, Market Access Reimbursement/Coverage Decision Making, Clinical and Regulatory Decision-Making)
- Segmentation of Global Real World Evidence Solutions Market By End User (Pharmaceutical & Medical Device Companies, Healthcare Providers, Healthcare Payers, Other)
- Statistical Snap of Global Real World Evidence Solutions Market
- Expansion Analysis of Global Real World Evidence Solutions Market
- Problems and Obstacles in Global Real World Evidence Solutions Market
- Competitive Landscape in the Global Real World Evidence Solutions Market
- Impact of COVID-19 and Demonetization on Global Real World Evidence Solutions Market
- Details on Current Investment in Global Real World Evidence Solutions Market
- Competitive Analysis of Global Real World Evidence Solutions Market
- Prominent Players in the Global Real World Evidence Solutions Market
- SWOT Analysis of Global Real World Evidence Solutions Market
- Global Real World Evidence Solutions Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Real World Evidence Solutions Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Real World Evidence Solutions Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Real World Evidence Solutions Market
7. Global Real World Evidence Solutions Market, By Component (USD Million)
7.1. Global Real World Evidence Solutions Market Value Share and Forecast, By Component, 2023-2033
7.2. Services
7.3. Data Sets
7.3.1. Disparate Data Sets
7.3.1. Clinical Settings Data
7.3.1. Claims Data
7.3.1. Pharmacy Data
7.3.1. Patient-Powered Data
7.3.1. Registry-Based Data Sets
7.3.2. Integrated Data Sets
8. Global Real World Evidence Solutions Market, By Application (USD Million)
8.1. Global Real World Evidence Solutions Market Value Share and Forecast, By Application, 2023-2033
8.2. Drug Development and Approvals
8.2.1. Oncology
8.2.2. Neurology
8.2.3. Immunology
8.2.4. Cardiovascular Disease
8.2.5. Others
8.2.6. Medical Device Development and Approvals
8.3. Post-Market Surveillance
8.4. Market Access Reimbursement/Coverage Decision Making
8.5. Clinical and Regulatory Decision-Making
9. Global Real World Evidence Solutions Market, By End User (USD Million)
9.1. Global Real World Evidence Solutions Market Value Share and Forecast, By End User, 2023-2033
9.2. Pharmaceutical & Medical Device Companies
9.3. Healthcare Providers
9.4. Healthcare Payers
9.5. Others
10. Global Real World Evidence Solutions Market Forecast, 2019-2033 (USD Million)
10.1. Global Real World Evidence Solutions Market Size and Market Share
11. Global Real World Evidence Solutions Market, By Component, 2019-2033 (USD Million)
11.1. Global Real World Evidence Solutions Market Size and Market Share By Component (2019-2026)
11.2. Global Real World Evidence Solutions Market Size and Market Share By Component (2027-2033)
12. Global Real World Evidence Solutions Market, By Application, 2019-2033 (USD Million)
12.1. Global Real World Evidence Solutions Market Size and Market Share By Application (2019-2026)
12.2. Global Real World Evidence Solutions Market Size and Market Share By Application (2027-2033)
13. Global Real World Evidence Solutions Market, By End User, 2019-2033 (USD Million)
13.1. Global Real World Evidence Solutions Market Size and Market Share By End User (2019-2026)
13.2. Global Real World Evidence Solutions Market Size and Market Share By End User (2027-2033)
14. Global Real World Evidence Solutions Market, By Region, 2019-2033 (USD Million)
14.1. Global Real World Evidence Solutions Market Size and Market Share By Region (2019-2026)
14.2. Global Real World Evidence Solutions Market Size and Market Share By Region (2027-2033)
14.3. Asia-Pacific
14.3.1. Australia
14.3.2. China
14.3.3. India
14.3.4. Japan
14.3.5. South Korea
14.3.6. Rest of Asia-Pacific
14.4. Europe
14.4.1. France
14.4.2. Germany
14.4.3. Italy
14.4.4. Spain
14.4.5. United Kingdom
14.4.6. Rest of Europe
14.5. Middle East and Africa
14.5.1. Kingdom of Saudi Arabia
14.5.2. United Arab Emirates
14.5.3. Rest of Middle East & Africa
14.6. North America
14.6.1. Canada
14.6.2. Mexico
14.6.3. United States
14.7. Latin America
14.7.1. Argentina
14.7.2. Brazil
14.7.3. Rest of Latin America
15. Company Profile
15.1. IQVIA Holdings
15.1.1. Company details
15.1.2. Financial outlook
15.1.3. Product summary
15.1.4. Recent developments
15.2. IBM Corporation
15.2.1. Company details
15.2.2. Financial outlook
15.2.3. Product summary
15.2.4. Recent developments
15.3. OPTUM Inc.
15.3.1. Company details
15.3.2. Financial outlook
15.3.3. Product summary
15.3.4. Recent developments
15.4. Icon Plc
15.4.1. Company details
15.4.2. Financial outlook
15.4.3. Product summary
15.4.4. Recent developments
15.5. Syneous Health Inc.
15.5.1. Company details
15.5.2. Financial outlook
15.5.3. Product summary
15.5.4. Recent developments
15.6. Parexel International Corporation
15.6.1. Company details
15.6.2. Financial outlook
15.6.3. Product summary
15.6.4. Recent development
15.7. Others
16. List of Abbreviations
17. Reference Links
18. Conclusion
19. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
