Real World Evidence (RWE) Solutions Market to Grow at a Highest CAGR of 15.8% from 2023-2030 | by Component, Therapeutic Area, End User, Region, Competitive Landscape

Real World Evidence (RWE) Solutions Market: by Component (Dataset (Claims, Clinical, Pharmacy, Patient), Services), Therapeutic Area (Oncology, Cardiovascular, Neurology), End User (Pharma, Medtech, Payers, Providers) and Region (North America, Europe, Asia-Pacific, Middle East and Africa and South America)

Real World Evidence (RWE) Solutions Market research report helps in gathering and analysing useful insights such as global market size, forecast and Compound Annual Growth Rate (CAGR) of a particular industry. It also helps in determining the market status, future prospects, growth opportunity, main challenges about the market for any industry. Real World Evidence (RWE) Solutions Market research report also provides complete analysis of the industry, current market trend, overview of the established market players, competitor analysis, for effective decision-making capabilities of the debutant and established entrepreneurs. It helps in streamlining the plan of action, before any new product launch and formulating respective marketing strategies.

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Real World Evidence (RWE) Solutions Market Key Players:

IQVIA
IBM Corporation
ICON plc.
PAREXEL International Corporation
PPD
LLC
Optum, Inc.
Cognizant Technology Solutions Corporation
Oracle Corporation
SAS Institute Inc.
Syneos Health, Inc.
Anthem, Inc.
Clinigen Group plc.
Medpace Holdings Inc.
Flatiron Health, Inc.

In May 2021, Verantos signed up a partnership with Lundbeck with an aim of extensive study to enable RWE in support of migraine therapy.

In May 2021, Five organizations entered into an industry coalition which are Aetion, Flatiron Health, IQVIA, Syapse, and Tempus.

Global Market Trend:

Global Real-World Evidence (RWE) Solutions Market has reached a value of $1.5 billion in 2022. This market is expected to grow from $1.7 billion in 2023 to $4.85 billion in 2030 with a CAGR of 15.8% in the forecast of 2023-2030.

Real-world evidence (RWE) refers to data derived from various sources, such as electronic health records, medical claims and billing databases, patient-generated data, and social media, among others. This data is used to provide insights into the safety, effectiveness, and value of medical interventions in real-world clinical settings. Their applications have reached various segments of healthcare such as clinical trials, post-marketing surveillance, health economics & Outcome research, and real-time decision-making. Further, RWE solutions have the potential to transform healthcare by providing insights into the safety, efficacy, and value of medical interventions in real-world settings.

Need for Real-World Evidence Solutions:

The need for more comprehensive and accurate data about the safety and effectiveness of medical interventions with real-world data. Conventional clinical trials have limitations in terms of sample size, patient diversity, and generalizability, and may not reflect the real-world experience of patients. There arise ways to overcome these challenges that are provided by RWE solutions providing insights into how treatments work in the real world, beyond the controlled environment of clinical trials. This data can inform clinical decision-making, help pharmaceutical companies optimize drug development, and inform regulatory decisions.

During the COVID-19 pandemic, the requirement for RWE solutions has elevated, as healthcare providers and policymakers seek to understand how the virus affects patients and how best to treat it. RWE has been used extensively in COVID-19 research, from identifying risk factors for severe disease to evaluating the effectiveness of different treatments.

Overall, the increasing demand for RWE solution services is being driven by a growing recognition of the importance of real-world data in healthcare to make pragmatic decisions. As healthcare becomes more and more data-driven, the demand for RWE solutions is expected to continue to grow in the upcoming years.

Regional Analysis:

The North American region is experiencing significant growth in the healthcare market, driven by factors such as a favorable regulatory environment, a high number of real-world evidence (RWE) service providers, and a well-established pharmaceutical industry. The COVID-19 pandemic has highlighted the importance of real-world data in understanding and responding to diseases, and collaborations such as the one between the FDA and Aetion are expected to drive further growth in this area.

Additionally, the rising number of cancer cases in the United States is creating opportunities for market players, who are focusing on R&D activities to bring new therapies to the market. Real-world data is also being used to improve patient outcomes, from drug development to value-based care. Alberta, Canada, has one of the largest and most comprehensive healthcare data depositories, making it a potential global leader in real-world evidence generation. The formation of the Alberta RWE Consortium is expected to further drive the growth of the real-world evidence solutions market.

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Real World Evidence (RWE) Solutions Market: Table of Contents

Real World Evidence (RWE) Solutions Market is segmented into Component, Therapeutic Area, End User and Region.

On the basis of Component

Services
Data Sets
Clinical setting data
Claims data
Pharmacy data
Patient powered data

On the basis of Therapeutic Area

Oncology
Cardiovascular
Neurology
Immunology
Others

On the basis of End-User

Pharmaceutical and Medical Devices Companies
Healthcare Providers
Healthcare Payers
Other End Users

On the basis of Region

Asia Pacific
North America
Europe
South America
Middle East & Africa

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Innovaccer Announces Connected Digital Health Solution for Biopharma and Medtech.

According to new data from Target RWE's TARGET-PBC cohort, pruritis (itching) was reported in 81% of patients with Primary Biliary Cholangitis (PBC), with those reporting clinically significant pruritus (30%) scoring worse on each domain of the PBC-40 and 5-D itch, having cirrhosis more frequently, and having significantly higher levels of fatigue.

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