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TOP 10 COMPANIES IN REAL WORLD EVIDENCE SOLUTIONS MARKET
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Future Outlook: Real-World Evidence (RWE) Solutions Market to Witness Lucrative Growth during the Forecast Period (2019-2024)
In a report published today, Meticulous Research has stated that the size of the global Real-World Evidence (RWE) solutions market will reach an impressive $1.64 billion by 2024.
The researchers suggest that the growth of Real-World Evidence (RWE) solutions market will be driven by factors including the rising geriatric population and burden of chronic diseases, shift towards value-based care, increasing R&D expenditure by the life sciences industry, delays in drug development and the subsequent increase in development costs, and expanding use of RWE for regulatory decision making.
The report states that data sets currently account for the largest share of the total market and is expected to grow at a CAGR of 13.8% from 2019 to 2024. Meticulous Research identified as to why this segment will continue dominating over real-world evidence services: "Due to increasing need for additional insights on epidemiology, compliance, adherence and costs in a realistic environment; growing amount of medical data generated in hospitals; increasing dependence of outcome-based studies on real-world data; and rising demand for information by the payers, regulatory bodies and providers regarding drug safety."
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Based on application, drug development and approvals commanded the largest share in 2018 owing to significant demand of RWD and RWE to accelerate drug discovery and development, increasing investment by biopharmaceutical companies in R&D, and growing inclination of regulatory bodies towards RWE. However, adoption of RWE for market access and reimbursement/coverage decisions is expected to witness the fastest growth.
Pharmaceutical, biotechnology & medical device companies were the leading adopters of real-world evidence solutions in 2018 and are also expected to register the fastest growth during the forecast period. This is attributed to the increasing importance of RWE studies in drug development and approvals, growing focus to avoid costly drug recalls, increasing need to assess drug performance in real-world settings, and growing emphasis on drug safety and post-market surveillance.
The report further speculates that North America is currently home for most of the real-world evidence solutions providers and is the leading adopter of RWD and RWE. The largest, as well as fastest growth of this region, is supported by significant availability of real-world data sets, growing focus on value-based care, rising R&D expenditure by the biopharma companies, greater emphasis on early drug/device development and approvals, stringent regulations for drug approvals, and favorable government policies (implementation of 21st Century Cures Act (December 2016) and FDA's new 2019 strategic Framework for RWE (December 2018) in the U.S).
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Real-World Evidence (RWE) Solutions Market by Component (RWD, EMR, Claim, Patient Registry, Pharmacy, Service), Application (Oncology, CVD, Neuro, Infection, Regulatory), End-User (Pharma, Biotech, Medical Devices, Payers, Healthcare) - Global Forecast to 2024
The key players operating in the global real-world evidence (REW) solutions market 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., and Syneos Health among others.
TOP 10 COMPANIES IN REAL WORLD EVIDENCE SOLUTIONS MARKET
@ https://meticulousblog.org/top-10-companies-in-real-world-evidence-solutions-market/
Scope of the Report:
RWE Solutions Market, by Component
Data Sets
Disparate data sets
EMR/EHR/Clinical data
Pharmacy data
Product/disease registries
Claims & billing Data
Other data
Integrated data sets
Consulting/ Services
RWE Solutions Market, by Application
Drug development & approvals, by Therapeutic Area
Oncology
Cardiovascular Disease
Neurology
Immunology
Other Therapeutic Areas
Market access & reimbursement/coverage decisions
Medical device development & approvals
Clinical decision-making
Other applications
RWE Solutions Market, by End User
Pharmaceutical, biotechnology & medical device companies
Healthcare payers
Healthcare providers
Other End-users
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The name of our company defines our services, strengths, and values. Since the inception, we have endeavoured to research, analyze and present the critical market data with great attention to details.
Meticulous Research was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, with the help of its unique research methodologies, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa regions.
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