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2019 Real-World Evidence (RWE) solutions Market A Highest CAGR of 19.21% With Leading Players | SAS, Syneos Health, PAREXEL, Optum, Cognizant, Oracle

Real-World Evidence (RWE) solutions

Real-World Evidence (RWE) solutions

In 2017, North America accounted for the largest share of the market, followed by Europe and Asia Pacific. Presence of a favorable regulatory environment, high number of RWE service providers, the presence of a well-established pharmaceutical industry in the region, coupled with the high R&D expenditure, are the major factors responsible for the large share of North America in the global real world evidence market.

The Real-World Evidence (RWE) solutions market is expected to grow at a CAGR of 19.21% from 2019 to reach $2.34 billion by 2024.

The significant potential in emerging markets, the rising focus on end-to-end RWE services, and emerging roles of wearable devices and AI in RWE represent high-growth opportunities for players operating in real-world evidence solutions market.
Real-world data sets are widely adopted by end-users for RWE for various applications such as drug development & approvals, market access & reimbursement/coverage decisions, clinical decision-making, and medical device development & approvals, among others.

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The key players covered in this study
• Iqvia
• IBM
• Pharmaceutical Product Development
• Parexel
• United Health Group
• Perkinelmer
• Icon
• Oracle
• Cognizant
• Syneos Health
• Anthem
• Clinigen
• SAS Institute

Competitive Landscape

The ethical use of real-world data is a challenge and many countries like Denmark are developing a national database for disclosing information. While in the UK and US the major concern is about the data privacy and accountability for giving access to information. There is no defined standard on how much data disclosure is sufficient and for what purposes, is necessary to ensure confidence in RWE

The US Lead the Real World Evidence Solutions Market in North America Region

In the United States, the 21st Century Cures Act passed in 2016 that establishes public-private partnerships in data collection to gain insights on diseases that help in targeted drug development and clinical trials design. The act ensures trusted exchange of electronic health information securely that promotes patient safety and ensures data integrity

Regulators like FDA use Real World Evidence data for monitoring post-market safety and make decisions such as approving a new indication for a previously approved drug. The FDA also wants to evaluate real-time evidence from individual EHR of at least 10 million individuals across all healthcare setting

Market segment by Type, the product can be split into
• Clinical Setting Data
• Claims Data
• Pharmacy Data
• Patient Powered Data

Market segment by Application, split into
• Pharmaceutical and Medical Device Companies
• Healthcare Payers
• Healthcare Providers
• Others

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Region Coverage (Regional Production, Demand & Forecast by Countries etc.):

• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
• Asia-Pacific (China, India, Japan, Southeast Asia etc.)
• South America (Brazil, Argentina etc.)
• Middle East & Africa (Saudi Arabia, South Africa etc.)

Study Objectives of Real World Evidence Solutions Market:

• To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the Real World Evidence Solutions market.
• To provide insights about factors affecting the market growth.
• To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World (ROW).
• To provide country level analysis of the market with respect to the current market size and future perspective.
• To provide country level analysis of the market for segmentation on the basis of charging technology and application.
• To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for Real World Evidence Solutions
• To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the Real World Evidence Solutions

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