#Real-World Evidence (RWE) Solutions Market Growth

[health-views-updates]

Real-World Evidence (RWE) Solutions Market 2024 Share, Trend and Segmentation Forecast 2032

The Real-World Evidence/RWE Solutions Market Revenue is projected to experience exponential growth as healthcare systems, pharmaceutical companies, and regulatory bodies increasingly recognize the value of real-world data in enhancing patient outcomes, streamlining drug approvals, and optimizing treatment approaches. According to the latest report by SNS Insider, the RWE solutions market is set to expand significantly, driven by advancements in data analytics, artificial intelligence, and the adoption of electronic health records (EHR).

The market's rapid growth is underpinned by the need for robust and actionable insights derived from real-world data to inform clinical decision-making and policy development. Key players in the pharmaceutical and biotech sectors are leveraging RWE to support value-based healthcare models, enhance drug safety monitoring, and assess real-world efficacy of therapies. This data is also critical for understanding long-term patient outcomes, especially for chronic diseases, by providing insights beyond controlled clinical trials. The shift toward value-based healthcare, coupled with increasing healthcare expenditures and a growing prevalence of chronic diseases, makes RWE solutions an indispensable component of modern healthcare.

Technological innovation is another major driver in the RWE solutions market, with artificial intelligence, machine learning, and big data analytics enabling deeper and faster analysis of vast data pools. These technological advancements facilitate the real-time processing and analysis of large datasets, making RWE solutions more effective and accessible for healthcare providers and stakeholders. With the continued growth of wearable devices and health monitoring applications, the industry is expected to witness a steady rise in real-time, patient-generated data, which will further fuel the demand for RWE solutions.

Get Free Sample Report@ https://www.snsinsider.com/sample-request/1787

Moreover, increasing investments in healthcare technology and rising demand for personalized medicine are expected to drive further advancements in the RWE solutions market. Pharmaceutical companies are heavily investing in RWE to support research and development and to address the specific needs of individual patients. This is essential for the success of precision medicine, where treatments are tailored to the unique characteristics of each patient. As a result, RWE solutions are becoming critical in identifying the most effective therapies and managing costs by preventing ineffective treatments.

In the context of regulatory policies, there is a growing acceptance of RWE data by agencies such as the FDA and EMA, who see its potential to complement traditional clinical trials and accelerate drug approvals. The regulatory landscape is evolving to allow for broader use of RWE in clinical and post-market studies, thereby significantly reducing the time and cost required for drug development. The increased regulatory endorsement of RWE data is anticipated to propel market growth further by reducing barriers and encouraging the use of RWE in various aspects of drug lifecycle management.

Key Findings and Trends:

Data Integration Across Platforms: RWE solutions are leveraging data from multiple sources including claims data, EHRs, patient registries, and pharmacy records, integrating it into cohesive systems for more holistic insights.

AI and Machine Learning: Advanced analytics tools are transforming the way RWE is utilized, enabling faster and more accurate interpretation of complex datasets and enhancing predictive capabilities.

Expansion of Value-Based Healthcare: As healthcare providers pivot toward patient-centered care models, the demand for real-world data to substantiate treatment outcomes and reimbursement models is on the rise.

Regional Outlook

The United States currently leads the RWE solutions market, given its advanced healthcare infrastructure and high levels of healthcare expenditure. With an increasing emphasis on personalized medicine and the significant presence of global pharmaceutical companies, North America is expected to retain its position as a market leader. The Asia-Pacific region is also anticipated to witness substantial growth, driven by rising investments in healthcare, rapid adoption of digital health technologies, and increasing support for innovative healthcare policies.

Future Outlook

Looking ahead, the RWE solutions market is poised to transform the healthcare landscape by providing stakeholders with comprehensive and reliable insights derived from real-world data. As the healthcare sector continues to adapt to the digital era, RWE solutions will play a pivotal role in fostering a more efficient, effective, and patient-centered approach to healthcare delivery.

The continued integration of cutting-edge technologies and the rising need for data-driven healthcare decisions are expected to cement the role of RWE in the global healthcare ecosystem. Companies investing in this market are likely to benefit from the growing emphasis on personalized medicine and the increasing reliance on real-world data by healthcare providers, pharmaceutical companies, and regulatory bodies alike.

About Us:

SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.

Contact Us:

Akash Anand – Head of Business Development & Strategy info@snsinsider.com Phone: +1-415-230-0044 (US) | +91-7798602273 (IND)

[healthcaremarketanalysis]

Healthcare Data Monetization Market worth $0.9 billion by 2028

Healthcare Data Monetization Market in terms of revenue was estimated to be worth $0.4 billion in 2023 and is poised to reach $0.9 billion by 2028, growing at a CAGR of 18.5% from 2023 to 2028 according to a new report by MarketsandMarkets™. Factors such as exponentially increasing data volume and generation of large and complex healthcare datasets, the need to curtail escalating healthcare costs, expanding partnerships and collaborations among players, and growing investments in the adoption of EHR systems primarily drive the growth of this market. Furthermore, the rising adoption of AI in precision medicine and the growing demand for real-world evidence (RWE) would provide lucrative opportunities to solution providers.

Download an Illustrative overview:

Browse in-depth TOC on "Healthcare Data Monetization Market"

217 - Tables

60 - Figures

292 – Pages

Healthcare Data Monetization Market Dynamics

DRIVERS

Growing use of external data sources

Increasing adoption of electronic health records (EHRs)

Growing volume of large and complex healthcare datasets

Rising need to curtail escalating healthcare costs

RESTRAINTS

Lack of data standardization and interoperability

Regulatory constraints

 OPPORTUNITIES

Rising demand for real-world evidence

Emergence of personalized medicine and genomics

CHALLENGES

Security concerns

Key Market Players:

Major players operating in the healthcare data monetization market are Oracle Corporation (US), Microsoft Corporation (US), Google (US), Salesforce, Inc. (US), SAS Institute Inc. (US), SAP SE (Germany), TIBCO Software Inc. (US), Sisense Inc. (US), Snowflake Inc. (US), QlikTech International AB (US), HealthVerity, Inc. (US), Accenture (Ireland), Availity, LLC (US), Domo, Inc. (US), Komodo Health, Inc. (US), ThoughtSpot Inc. (US), Datavant (US), Verato (US), Infor, Inc. (US), Virtusa (US), Infosys (India), Particle Health, Inc. (US), Innovaccer, Inc. (US), H1 (US), and Medoble Inc. (US).

North America is expected to account for the largest share in healthcare data monetization market in 2023

The global market has been segmented based on region: North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. In 2023, North America is expected to account for the largest market share followed by Europe. The large share of North America in the global healthcare analytics market can be attributed to the implementation of federal health mandates that encourage the adoption of HCIT solutions, an increasing focus on population health management, a significant amount of VC investments, growing pressure to reduce healthcare costs, technological advancements, and high product & service availability in this region. Moreover, most of the leading players in the healthcare analytics market have their headquarters in North America.

Recent Developments

In October 2022, Oracle Corporation introduced a planning solution for the healthcare industry as part of its Fusion Cloud Enterprise Performance Management (EPM) offering. The solution aims to help healthcare organizations improve financial performance and patient care by enabling them to model scenarios, optimize resources, and make better finance, workforce, and patient care decisions.

In April 2023, Microsoft Corporation and Epic Systems expanded their collaboration to integrate generative AI into healthcare by combining Azure OpenAI Service with Epic's electronic health record (EHR) software. The collaboration aimed to enhance patient care, increase productivity, and improve financial integrity in health systems globally.

In February 2023, Redox and Google Cloud partnered to simplify the exchange of healthcare data, enabling better and faster decision-making for healthcare organizations. Redox's platform would be replicated on Google Cloud, offering customers access to Redox's products and services.

In April 2023, Salesforce announced new Customer 360 for Health capabilities aimed at enhancing personalized patient experiences and reducing operational costs for healthcare providers. These innovations leverage real-time data, AI, and automation to address the challenges faced by healthcare organizations in meeting customer expectations.

In May 2023, HTEC Group joined the SAS IoT Partner Ecosystem to partner on delivering innovative solutions in industries such as healthcare, life sciences, logistics, and more. The partnership aimed to develop joint offerings that enable global enterprise companies to apply cutting-edge data-driven, IoT, edge, and cloud-enabled solutions to their business challenges.

Healthcare Data Monetization Market - Key Stakeholders:

Healthcare Data Monetization Solution Providers

Platform Providers

Technology Providers

AI System Providers

Raw Data Providers

Data Buyers

Data Sellers

Healthcare Providers

Healthcare Payers

Pharmaceutical & Biotechnology Companies

Medical Technology Companies

Physician Groups and Organizations

Universities and Research Organizations

Forums, Alliances, and Associations

Academic Research Institutes

Healthcare Institutions

Distributors

Venture Capitalists

Government Organizations

Institutional Investors and Investment Banks

Investors/Shareholders

Consulting Companies in the Data Monetization Sector

Raw Materials and Component Manufacturers

https://www.prnewswire.com/news-releases/healthcare-data-monetization-market-worth-0-9-billion--marketsandmarkets-301849179.ht

[linda0609barron]

Advancements in Healthcare Data Analytics: Pioneering Innovations Shaping the Future of Medicine

Title: Advancements in Healthcare Data Analytics: Pioneering Innovations Shaping the Future of Medicine

In today's world, the provision of adequate healthcare facilities stands as a cornerstone for societal well-being, ensuring populations thrive while mitigating the impact of diseases and pain. Moreover, beyond mere health benefits, robust healthcare systems also contribute significantly to economic growth through revenue generation, particularly in sectors like pharmaceuticals. For instance, in 2022 alone, the pharmaceutical industry amassed a staggering revenue of 1.48 trillion USD, with a considerable portion, 244 billion USD, allocated to pharmaceutical research and development (R&D) projects worldwide. These figures underscore the critical importance of continual innovation in healthcare, particularly in the realm of data analytics, to drive further advancements.

Healthcare analytics, a burgeoning field, encompasses the utilization of data-driven insights to optimize various aspects of medical practice, from disease diagnosis to treatment tracking, clinical trial reporting, and outcome forecasting. This analytical approach not only aids in enhancing patient care but also empowers medical researchers to uncover vital patterns within healthcare records, spanning epidemics, genetic anomalies, allergic reactions, emotional states, and rare diseases.

The future landscape of healthcare data analytics is poised for significant transformation, driven by innovative initiatives spearheaded by forward-thinking minds. Here, we delve into the key trends shaping the evolution of healthcare analytics:

Automated Research: Traditional methods of healthcare research, reliant on manual data analysis, are increasingly deemed outdated and inefficient in today's fast-paced landscape. In response, healthcare institutions are turning to automated solutions powered by artificial intelligence (AI) to streamline data aggregation and verification processes. By leveraging AI algorithms, data analysts can delve deeper into optimizing problem definitions, expanding market analyses, and devising clinical trial strategies. This automated approach not only enhances efficiency but also enables a more comprehensive evaluation of healthcare trends, from dietary impact assessments to detecting research fraud or data manipulation.

Machine-to-Machine (M2M) Communication: The proliferation of technologies such as Bluetooth, 5G networks, and machine learning algorithms has facilitated enhanced connectivity and data gathering in healthcare settings. M2M communication enables seamless data exchange between devices, ranging from accessibility aids to medical sensors, paving the way for more efficient healthcare analytics. By harnessing M2M capabilities, healthcare professionals can gather real-time insights into patient behavior, device usability, and performance metrics. Moreover, M2M systems hold the potential to revolutionize accessibility insights, informing the design of more ergonomic and user-friendly medical devices.

Real-World Evidence and Real-Time Visualization: Real-world data (RWD) presents a rich source of information for healthcare analytics, offering insights beyond the confines of traditional randomized controlled trials (RCTs). Through the analysis of RWD, healthcare stakeholders can derive real-world evidence (RWE), informing decision-making processes across various domains, including treatment efficacy, disease transmission dynamics, and insurance risk profiling. Advanced visualization tools further enhance data interpretation, providing dynamic insights into evolving healthcare outcomes in real-time. By leveraging RWE, healthcare practitioners and policymakers can make more informed decisions, leading to improved patient care and optimized resource allocation.

Big Data in Healthcare Analytics and Research: The advent of big data has revolutionized healthcare analytics, enabling the processing and analysis of vast datasets sourced from diverse channels, including electronic health records (EHRs), wearable devices, clinical trials, and social media platforms. Through sophisticated analytics techniques, healthcare professionals can extract valuable insights from unstructured and semi-structured data, driving informed decision-making and strategy development. Furthermore, the integration of big data analytics with cloud computing infrastructure enhances data security and accessibility, facilitating seamless collaboration and knowledge sharing across healthcare ecosystems.

In conclusion, the future of healthcare analytics is characterized by a convergence of technological innovation and data-driven insights, reshaping the landscape of medical practice and research. From AI-powered automated research to real-time visualization of healthcare outcomes, these advancements hold the promise of revolutionizing patient care and driving continuous improvement in healthcare delivery. As the demand for expertise in healthcare data analytics continues to grow, collaboration among stakeholders, including medical professionals, researchers, and industry partners, will be essential in realizing the full potential of these transformative technologies.

[worldwideanalysis]

APAC will Grow the Fastest in the Real-World Evidence Solutions Market

The real-world evidence solutions market will power at a double-digit rate by the end of this decade, to touch USD 3,974 million by 2030, as stated by P&S Intelligence.

This is because of the clinical trial count, the shifting emphasis to value-based healthcare from volume-based, and the increasing research and development activities associated with the expansion of medical devices and drugs.

More than a few biopharma, drug, and medical device organizations are profoundly investing in research and development for the formation of novel gadgets and drugs.

These corporations are choosing entirely functional or combined outsourcing services, from the initial to the later-stage developmental phase, for encountering the requirements for both drug development and discovery.

Amongst all, the pharma industry spends the main portion of its income on research and development. Consequently, the increasing R&D spending and the rising requirement for clinical and preclinical services in the development procedure of drugs are powering the requirement for real-world evidence solutions.

Services had a larger share of revenue, of more than 56%, in 2022, and it this trend will continue in the future as well. This is because of the decreasing drug development delays, which is more significant than before, and the obtainability of an advanced amount of healthcare info.

Furthermore, companies often acclimate the essential services according to the needs of the clients, which saves money and time as opposed to obtaining the data sets and examining them for generating helpful info.

Data sets will grow at a significant rate in the years to come. The development can be mainly credited to the increasing amount of info generated in the healthcare industry and the snowballing attention to more understandings into epidemiology.

Moreover, clinical data is a substantial source of most medical and health research that is also collected from the existing patient care or formal clinical trial programs.

APAC real-world evidence solutions market will grow at the highest rate, of about 14%, in the years to come.

The growth can be mostly credited to the increasing support of the government for the acceptance of RWE studies, the growing count of clinical trials, the mounting occurrence of long-lasting diseases, the incidence of a number of contract research organizations, the mounting requirement for advanced healthcare services, and the increasing elderly population.

Furthermore, some countries of the region work to totally embrace real-world evidence. For example, Japan has started its “Rational Medicine” for making the Japanese healthcare system additionally evidence-based and patient-centric.

The increasing development of clinical trials, the demand for real-world evidence solutions will continue to increase in the years to come, all over the world.

[healthcaretechnologynews]

Paving the Way: The Impact of Market Access on Pharma Sales in Europe

In recent years, the pharmaceutical industry has witnessed substantial growth, fueled by scientific advancements and increasing demand for innovative healthcare solutions. Europe, known for its robust healthcare systems and stringent regulatory frameworks, has emerged as a significant market for pharmaceutical companies. However, navigating the complex landscape of European healthcare markets requires a comprehensive understanding of market access strategies. This article explores the crucial role of market access in boosting pharmaceutical sales in Europe and highlights the key factors that contribute to a successful market entry.

Understanding Market Access

Market access refers to the process by which pharmaceutical companies gain approval and reimbursement for their products within specific healthcare systems. It encompasses a range of activities, including regulatory compliance, pricing and reimbursement negotiations, health technology assessments (HTAs), and demonstrating the value and cost-effectiveness of pharmaceutical products. The ultimate goal of market access is to ensure that patients have timely access to safe, effective, and affordable medicines.

Key Factors Influencing Market Access in Europe

Regulatory Environment: The European pharmaceutical market is governed by a complex regulatory landscape, with different regulatory bodies and processes in each country. Pharmaceutical companies must navigate through these regulatory frameworks, ensuring compliance with various guidelines, procedures, and quality standards. Understanding these regulations is crucial for successful market access.

Health Technology Assessment (HTA): HTA plays a critical role in assessing the clinical effectiveness and economic value of pharmaceutical products. Many European countries rely on HTA agencies to evaluate the therapeutic benefits and cost-effectiveness of new drugs before making reimbursement decisions. Pharma companies must provide robust clinical and economic evidence to demonstrate the value of their products and support favourable reimbursement decisions.

Pricing and Reimbursement: European countries employ diverse pricing and reimbursement systems. Each nation has its own pricing policies, reference pricing mechanisms, and negotiation processes. Pharmaceutical companies need to engage in pricing and reimbursement negotiations with national authorities to ensure favourable pricing and optimal market access. Strategic pricing and demonstrating the value proposition of products are key considerations in this regard.

Real-World Evidence: European healthcare systems increasingly emphasize the importance of real-world evidence (RWE) in decision-making. Generating RWE through post-marketing studies and observational research can enhance the understanding of a product's effectiveness and safety in real-world clinical practice. Pharma companies should invest in generating high-quality RWE to support market access and strengthen the value proposition of their products.

Stakeholder Engagement: Building strong relationships and effective collaborations with key stakeholders, including healthcare providers, patient advocacy groups, payers, and policymakers, is crucial for successful market access. Engaging with these stakeholders early in the product development phase and throughout the market access process helps to gather insights, address concerns, and ensure alignment with their needs and priorities.

The role of market access in boosting pharmaceutical sales in Europe cannot be underestimated. It serves as a gateway for pharmaceutical companies to penetrate and succeed in diverse European healthcare markets. Navigating the complex landscape of regulatory compliance, HTA processes, pricing and reimbursement negotiations, and stakeholder engagement requires a well-planned and comprehensive market access strategy. Companies that invest in understanding the European market dynamics, develop robust clinical and economic evidence, and engage with key stakeholders are more likely to achieve successful market access and drive sales growth in Europe's pharmaceutical market. By prioritizing market access, pharmaceutical companies can not only ensure the availability of their innovative medicines but also contribute to improving patient outcomes and the overall healthcare landscape in Europe.

Visit our website now: https://www.anervea.com/

[healthcaretoday1]

Paving the Way: The Impact of Market Access on Pharma Sales in Europe

In recent years, the pharmaceutical industry has witnessed substantial growth, fueled by scientific advancements and increasing demand for innovative healthcare solutions. Europe, known for its robust healthcare systems and stringent regulatory frameworks, has emerged as a significant market for pharmaceutical companies. However, navigating the complex landscape of European healthcare markets requires a comprehensive understanding of market access strategies. This article explores the crucial role of market access in boosting pharmaceutical sales in Europe and highlights the key factors that contribute to a successful market entry.

Read more: https://www.anervea.com/post/paving-the-way-the-impact-of-market-access-on-pharma-sales-in-europe

Understanding Market Access

Market access refers to the process by which pharmaceutical companies gain approval and reimbursement for their products within specific healthcare systems. It encompasses a range of activities, including regulatory compliance, pricing and reimbursement negotiations, health technology assessments (HTAs), and demonstrating the value and cost-effectiveness of pharmaceutical products. The ultimate goal of market access is to ensure that patients have timely access to safe, effective, and affordable medicines.

Key Factors Influencing Market Access in Europe

Regulatory Environment:

The European pharmaceutical market is governed by a complex regulatory landscape, with different regulatory bodies and processes in each country. Pharmaceutical companies must navigate through these regulatory frameworks, ensuring compliance with various guidelines, procedures, and quality standards. Understanding these regulations is crucial for successful market access.

Health Technology Assessment (HTA):

HTA plays a critical role in assessing the clinical effectiveness and economic value of pharmaceutical products. Many European countries rely on HTA agencies to evaluate the therapeutic benefits and cost-effectiveness of new drugs before making reimbursement decisions. Pharma companies must provide robust clinical and economic evidence to demonstrate the value of their products and support favorable reimbursement decisions.

Pricing and Reimbursement:

European countries employ diverse pricing and reimbursement systems. Each nation has its own pricing policies, reference pricing mechanisms, and negotiation processes. Pharmaceutical companies need to engage in pricing and reimbursement negotiations with national authorities to ensure favorable pricing and optimal market access. Strategic pricing and demonstrating the value proposition of products are key considerations in this regard.

Real-World Evidence:

European healthcare systems increasingly emphasize the importance of real-world evidence (RWE) in decision-making. Generating RWE through post-marketing studies and observational research can enhance the understanding of a product's effectiveness and safety in real-world clinical practice. Pharma companies should invest in generating high-quality RWE to support market access and strengthen the value proposition of their products.

Stakeholder Engagement:

Building strong relationships and effective collaborations with key stakeholders, including healthcare providers, patient advocacy groups, payers, and policymakers, is crucial for successful market access. Engaging with these stakeholders early in the product development phase and throughout the market access process helps to gather insights, address concerns, and ensure alignment with their needs and priorities.

The role of market access in boosting pharmaceutical sales in Europe cannot be underestimated. It serves as a gateway for pharmaceutical companies to penetrate and succeed in diverse European healthcare markets. Navigating the complex landscape of regulatory compliance, HTA processes, pricing and reimbursement negotiations, and stakeholder engagement requires a well-planned and comprehensive market access strategy. Companies that invest in understanding the European market dynamics, develop robust clinical and economic evidence, and engage with key stakeholders are more likely to achieve successful market access and drive sales growth in Europe's pharmaceutical market. By prioritizing market access, pharmaceutical companies can not only ensure the availability of their innovative medicines but also contribute to improving patient outcomes and the overall healthcare landscape in Europe.

[healthcare-domain]

Real World Evidence Solutions Market worth $2.9 billion by 2027 - Exclusive Report by MarketsandMarkets™

Real World Evidence Solutions Market size is projected to reach USD 2.9 billion by 2027 from USD 1.5 billion in 2022, at a CAGR of 15.2% during the forecast period according to a new report by MarketsandMarkets™. Potential of RWE in reducing drug development costs and expediting the drug development process, shift from volume- to value-based care, rise in the geriatric population and the subsequent increase in the prevalence of chronic diseases, and increased R&D spending for the development of new pharmaceutical products and medical devices are driving the growth of RWE solutions market.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=76173991

Browse in-depth TOC on "Real World Evidence Solutions Market"

190 - Tables 60 - Figures 265 - Pages

By component, services is expected to witness the fastest growth during the forecast period

Based on component, the RWE solutions market is segmented into data sets and services. In 2021, the services segment accounted for a larger share in the global RWE solutions market. Vendors in the RWE solutions market offers advanced analytics services and consulting services. Increasing demand for converting the data into actionable evidence is increasing the need to reduce drug development delays utilizing specific RWE services. The data sets are further segmented into disparate data sets and integrated data sets. The disparate data sets dominates by types of data sets in 2021. The growing adoption of digital healthcare trends has contributed to the increased availability of disparate data sources, such as EHR and patient/disease registries. Additionally, owing to the increasing use of these data sets in monitoring the safety of health products, regulatory authorities are taking initiatives to promote the better use of available data sets, which is driving the market growth for disparate data sets. The disparate data sets are further subsegmented into clinical settings data, claims data, pharmacy data, patient-powered data, and other data sets. In 2021, clinical settings data accounted for a dominating share owing to the rising demand for de-identified patient data for research purposes.

Post-market surveillance and clinical & regulatory decision making segments are expected to show fastest growth during the forecast period.

Based on application, the RWE solutions market is segmented into drug development and approvals, medical device development and approvals, post-market surveillance, market access reimbursement/coverage decision making, and clinical and regulatory decision-making. The post-market surveillance and clinical & regulatory decision making segments are expected to show the fastest growth rate during the forecast period owing to the increased incidence of adverse events, rise in concerns for patient safety, and growing importance of RWE in regulatory decision makings.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=76173991

Pharmaceutical & medical device companies is expected to remain the dominating  segment in 202

Based on end user, the RWE solutions market is segmented into pharmaceutical & medical device companies, healthcare providers, healthcare payers, and other end users. The pharmaceutical & medical device companies segment dominates the end user segment and is also expected to witness highest growth rate during the forecast period.  

The growth of this market is primarily driven by the Increasing growth in clinical trials and shift from volume- to value-based care are the key factors driving the growth of this market. Using RWE and RWD can inform better protocol design, thereby reducing the number of costly protocol amendments, and can enable the creation of synthetic control arms to accelerate trial execution and decrease overall costs. Similarly, RWE can accelerate label expansion and decrease the overall cost of the evidence needed for filing. Due to these advantages, the use of RWE solutions is increasing in R&D activities related to drug and medical devices.

Most pharmaceutical, biopharmaceutical, and medical device companies continue to invest heavily in the development of novel drugs and devices. The pharmaceutical industry, in particular, is R&D-intensive. The rising R&D expenditure of pharmaceutical and biopharmaceutical companies is prompting them to opt for fully integrated or functional outsourcing services, from the early development stage to the late-stage development phase, to fulfill the demands for both drug discovery and development. Among all industry sectors, the pharmaceutical industry spends the largest percentage of its revenue on research & development. This growth in R&D expenditure, fueled by the need for numerous preclinical and clinical services during the drug development process, is expected to drive the growth of the RWE market.

For More Info @ https://www.prnewswire.com/news-releases/real-world-evidence-solutions-market-worth-2-9-billion-by-2027---exclusive-report-by-marketsandmarkets-301664236.html

[health-views-updates]

The Power of Data Analytics in the Real-World Evidence (RWE) Solutions Market

The global Real-World Evidence Solutions Market Revenue is projected to grow from USD 2.5 billion in 2023 to USD 5.2 billion by 2032, at a compound annual growth rate (CAGR) of 8.5% over the forecast period from 2024 to 2032. The increasing demand for real-world data in healthcare research, drug development, and regulatory decision-making is driving the expansion of the RWE market, revolutionizing the way medical insights are generated.

Understanding Real-World Evidence (RWE)

Real-world evidence involves the collection and analysis of health data from various sources outside traditional clinical trials, such as electronic health records (EHRs), claims databases, patient registries, and wearable devices. By leveraging real-world data (RWD), RWE offers insights into how medical products perform in real-world settings, which is increasingly critical in assessing treatment effectiveness, safety, and overall patient outcomes.

Key Drivers of Market Growth

Regulatory Push and Favorable Guidelines: Regulatory agencies such as the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA) have increasingly emphasized the importance of real-world data in making regulatory decisions for drug approvals and post-market surveillance. This regulatory shift toward integrating RWE into healthcare decision-making is a significant driver of market growth. By utilizing RWE, pharmaceutical companies can provide more comprehensive safety and efficacy data, leading to faster and more cost-effective drug development processes.

Increasing Focus on Personalized Medicine: As the healthcare industry shifts toward personalized medicine, there is a growing need for precise data on how specific treatments affect different populations. RWE solutions help identify patient subgroups that may benefit from tailored therapies, thus aiding in the development of more personalized treatment strategies. This growing trend towards customized healthcare solutions is expected to continue fueling the RWE market.

Cost-Effectiveness and Efficiency in Drug Development: Traditional randomized clinical trials (RCTs) are time-consuming and expensive. RWE, on the other hand, offers an alternative by utilizing existing patient data, significantly reducing the time and cost associated with drug development and market access. By providing insights into long-term outcomes, RWE solutions also help pharmaceutical companies and healthcare providers make more informed decisions about treatment efficacy, which can accelerate the introduction of new therapies into the market.

Technological Advancements in Data Collection and Analytics: Advances in artificial intelligence (AI), machine learning, and big data analytics are enhancing the ability to gather and analyze vast amounts of real-world data. These technologies enable healthcare providers and researchers to identify patterns, assess risks, and predict patient outcomes with greater accuracy. The integration of AI-driven tools with RWE platforms is expected to further optimize the analysis of real-world data, driving market expansion.

Get Free Sample Report: https://www.snsinsider.com/sample-request/1787

Challenges in the RWE Solutions Market

Despite its promising growth trajectory, the RWE solutions market faces challenges related to data privacy and standardization. The collection and analysis of real-world data often involve large datasets from diverse sources, raising concerns about patient privacy and data security. Regulatory requirements regarding the use of personal health data are stringent, and ensuring compliance with these regulations is critical.

Moreover, the lack of standardization across healthcare systems and data sources can make it difficult to integrate and interpret real-world data. To address these issues, industry stakeholders are working towards establishing unified standards for RWE data collection and usage.

Regional Insights

North America currently dominates the RWE solutions market, accounting for the largest share due to advanced healthcare infrastructure, widespread adoption of electronic health records, and strong regulatory support for the use of real-world data in decision-making. Europe is also a significant market player, with increasing investments in healthcare innovation and biopharmaceutical research.

The Asia-Pacific region is expected to witness the fastest growth over the forecast period, driven by the growing adoption of digital health technologies, government initiatives promoting data-driven healthcare, and the rising prevalence of chronic diseases that require continuous monitoring.

Future Outlook

The RWE solutions market is set to experience robust growth over the next decade as healthcare systems increasingly rely on real-world data to improve patient outcomes, enhance drug development, and optimize regulatory processes. Pharmaceutical companies, regulatory bodies, and healthcare providers will continue to collaborate in leveraging RWE solutions to shape the future of healthcare.

From USD 2.5 billion in 2023, the market is expected to reach USD 5.2 billion by 2032, driven by technological advancements, regulatory support, and the ongoing transformation of healthcare delivery. As real-world data becomes more integrated into everyday medical practice, RWE solutions will play a critical role in shaping the future of precision medicine and patient-centered care.

Other Trending Reports

Surgical Tables Market

DNA Synthesizer Market

gRNA Market

Sequencing Market

[meditech-insights]

Global Real-world evidence (RWE) Solutions Market is estimated close to $1 billion in 2020 and is expected to grow at a lucrative CAGR of ~15% by 2025

RWE is the clinical evidence related to the use and potential advantages/risks of a medical product based on examination of real-world data.

GlobalReal-world evidence (RWE) Solutions marketis estimated close to $1 billion (2020), growing at lucrative rate of ~15%. The Real-world evidence (RWE) solutions market growth is driven by rising support for RWE adoption from regulatory authorities, increased funding from pharma, and additional insights generated compared to randomized clinical trials (RCTs).

RWE to play vital role in helping regulators formulating decisions

RWE may be able to help FDA in making regulatory decisions on the safety and effectiveness of medical products, such as discovering new safety issues after approval or analysing a drug's effectiveness for a new indication or patient population. Citing the potential, the 21st Century Cures Act (Cures Act, signed in 2016) required FDA to publish a framework for a program to evaluate the use of RWE in regulatory decision-making; FDA published the framework for this program in December 2018. As part of its RWE Program, FDA committed to understanding the full potential of RWD and RWE in regulatory decision-making. The agency has conducted workshops, offered funding for demonstration projects, created mobile and web applications that can gather RWD, and engaged in conversations with sponsors about the topic.

Funding from private equity and pharma

By providing funding, private equity firms support the RWE solution providers.

For instance,

Aetion, one of the RWE solution providers, received $110 million funding, led by private equity firm Warburg Pincus, in May 2021. Aetion’s platform compiles and analyses real-world data from a variety of sources to assess the safety and effectiveness of medical products. Aetion would use the capital to advancing the capabilities of its data analytics platform, enhance commercial team and expand its geographic footprint.

Explore Premium Report on Real-world evidence (RWE) Solutions Market @ https://meditechinsights.com/real-world-evidence-solutions-market/

Poor quality medical data and lack of interoperability present major challenges in adoption of RWE

According to major regulatory authorities across the globe, the poor data quality and inconsistent data are the key obstacles in executing RWE studies. The data often originates from electronic health records (EHRs), where the data may be unstructured, poor quality and/or in inconsistent formats, such as doctors’ notes that aren’t entered in a standardized way. Furthermore, a patient's daily activities are observed during clinical trials (RCTs). Patients visit the doctor less frequently in the real world, therefore the EHR data is less reliable and inconsistent.

“Clinical research networks will be necessary for the successful and long-term application of real-world evidence. It entails developing cross-sector collaborations between providers, payers, patients, and life science companies to pool resources and expertise in clinical research”– President, Leading Pharma Company

Competitive Landscape Analysis of Real-world evidence (RWE) Solutions Market

The key players in global real-world evidence (RWE) solutions market are IQVIA Holdings, Parexel, Icon, PPD, Syneos Health, Clarivate, Cerner, Medpace Holdings, Flatiron Health, Symphony Innovation, Aetion, Cognizant Technology, IBM, Oracle, Data Matrix, SAS Institute Inc., Clinigen Group, and UnitedHealth Group.

For More Detailed Insights, Contact Us @ https://meditechinsights.com/contact-us/

About Medi-Tech Insights

Medi-Tech Insights is a healthcare-focused business research & insights firm. Our clients include Fortune 500 companies, blue-chip investors & hyper-growth start-ups. We have completed 100+ projects in Digital Health, Healthcare IT, Medical Technology, Medical Devices & Pharma Services.

Contact:

Ruta Halde

Associate, Medi-Tech Insights

+32 498 86 80 79

info@meditechinsights.com

[saltytyphoonstarlight]

Real World Evidence Solutions Market Insights

As per the latest report published by Future Market Insights, the Real World Evidence Solutions Market was valued at US$ 39.2 Billion in 2021 and is anticipated to reach the valuation of US$ 110 Billion by the end of 2032, growing at a CAGR of 10%.

The compound annual growth rate for the forecasted period is significantly higher from the historical CAGR of 8.6%. Furthermore, the market is expected to witness an absolute dollar opportunity of US$ 67.2 in the coming 10 years.

Services category is expected to garner an absolute dollar opportunity of US$ 41 Bn during 2022 – 2032. During this period, the services segment is projected to account for the majority share in the global market and is predicted to increase at a compound annual growth rate of 10.4%.  The pharmaceutical and biotechnology industries are driving market expansion by increasing their use of real-world services. Among these segments, the clinical data collected during ongoing patient treatment or as a part of a formal clinical trial program is a common source of information in most medical studies.

There can be seen a shift from volume-based to value-based care, favorable policies from the government, increasing R&D expenditure and a growing focus on end-to-end RWE services, which are driving the global market. By the end of 2032, the Global Market for Real World Evidence Solutions will show a valuation of US$ 110 Bn. Furthermore, a growing emphasis on personalized healthcare, increase in the frequency of chronic diseases, growing geriatric population, and regulatory support for the implementation of RWE solutions are expected to drive market expansion.

Key Takeaways from the Market Study:

The Market is expected to grow at a CAGR of 10% which is significantly higher than its historical CAGR of 8.6%.

By the end of 2032, the global market for Real World Evidence Solutions will reach the valuation of US$ 110 Bn.

Within the period between 2022 and 2032, the market is expected to offer an absolute dollar opportunity of US$ 67.2 Bn.

The services segment leads the growth among components with a CAGR of 10.4%.

The U.S. market for Real World Evidence Solutions constitutes a majority stake of 29.9% in the global market. It is expected to grow at a CAGR of 11.2% during the forecasted period of 2022 to 2032.

Drug Development and Approvals segment tops among the applications. Revenue through this segment is expected to grow at a CAGR of 10% during the forecast period.

Due to the pandemic induced business disruptions, companies were unable to undertake on-site surveillance or deliver services that required one to one interactions. This prompted the market players to implement several cost-cutting measures and business continuity tactics to allow remote access and monitoring of patients, comments a Future Market Insights analyst.

Real World Evidence Solutions Market Segmentation:

By Component:

Services

Data Sets

Clinical Settings Data

Claims Data

Pharmacy data

Patient-powered Data

By Application:

Reimbursement/Coverage & Regulatory Decision Making

Drug Development & Approvals

Medical Device Development & Approvals

Post Market Safety & Adverse Events Monitoring

By End-user:

Healthcare payers

Pharmaceutical & Medical Device Companies

Healthcare Providers

Other End-users

By Region:

North America

Latin America

Europe

APAC

MEA

U.S.

Canada

Brazil

Mexico

Others

Germany

U.K.

France

Spain

Italy

Russia

Others

India

China

Japan

South Korea

Australia

Others

South Africa

Saudi Arabia

UAE

Israel

Others

Competitive Landscape:

The Real World Evidence Solutions Market is driven by the Market players who are expanding their product portfolios by highly investing in the R&D and Product development areas. Furthermore, to retain their dominance in global market they are expanding by means of strategic mergers and acquisitions and creating the market presence in the untapped market across the globe. They are anticipated to take advantage of the increased awareness, improved infrastructure and increased regulatory approvals for the RWE solutions.

The key competitors in the real world evidence solutions market are –

Cegedim Health Data

IBM

Icon Plc.

IQVIA

Medpace

Oracle

Parexel International Corp.

PerkinElmer, Inc.

PPD, Inc.

Syneos Health

Key developments in the Real World Evidence Solutions Market:

• In March 2022, the collaboration between Thermo Fisher and Symphogen has been expanded to include improved data workflow, which aids in the discovery and development of innovative cancer treatments.

• In February 2021, IBM begins the second phase of a contract with the National Institutes of Health to develop a verifiable health status reporting and contact tracing system.

• In January 2022, IQVIA partnered with Argenex SE for accelerating the clinical development of new indications for VYVGART. Furthermore, it will leverage its scientific advice and technology in supporting clinical development by Argenx.

For More Information: https://www.futuremarketinsights.com/reports/real-world-evidence-solutions-market

[deshpandeisha]

Revolutionizing Cancer Treatment with Real World Evidence

The global real world evidence solutions for oncology market size reached USD 1.38 Billion in 2022 and is expected to register a revenue CAGR of 13.2% during the forecast period, according to the latest analysis by Emergen Research. The market revenue growth is significantly driven by the rising incidence of cancer. Increasing Real-World Evidence (RWE) and Artificial Intelligence (AI) integration in the healthcare sector is a key factor driving the market for clinical decision support systems.

The report focuses on current and future market growth, technological advancements, volume, raw materials, and profiles of the key companies involved in the market. The report provides valuable insights to the stakeholders, investors, product managers, marketing executives, and other industry professionals.

Get Download Pdf Sample Copy of this Report@ https://www.emergenresearch.com/request-sample/1772

Competitive Terrain:

The global Real World Evidence Solutions For Oncology industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.

The leading market contenders listed in the report are:

Anthem, Inc.; IQVIA Inc.; ICON plc; Thermo Fisher Scientific Inc.; Clinigen Limited; Cognizant Technology Solutions Corporation; Oracle; Parexel International Corporation; PerkinElmer, Inc.; IBM Corporation

Key market aspects studied in the report:

Market Scope: The report explains the scope of various commercial possibilities in the global Real World Evidence Solutions For Oncology market over the upcoming years. The estimated revenue build-up over the forecast years has been included in the report. The report analyzes the key market segments and sub-segments and provides deep insights into the market to assist readers with the formulation of lucrative strategies for business expansion.

Competitive Outlook: The leading companies operating in the Real World Evidence Solutions For Oncology market have been enumerated in this report. This section of the report lays emphasis on the geographical reach and production facilities of these companies. To get ahead of their rivals, the leading players are focusing more on offering products at competitive prices, according to our analysts.

Report Objective: The primary objective of this report is to provide the manufacturers, distributors, suppliers, and buyers engaged in this sector with access to a deeper and improved understanding of the global Real World Evidence Solutions For Oncology market.

Emergen Research is Offering Limited Time Discount (Grab a Copy at Discounted Price Now)@ https://www.emergenresearch.com/request-discount/1772

Market Segmentations of the Real World Evidence Solutions For Oncology Market

This market is segmented based on Types, Applications, and Regions. The growth of each segment provides accurate forecasts related to production and sales by Types and Applications, in terms of volume and value for the period between 2022 and 2030. This analysis can help readers looking to expand their business by targeting emerging and niche markets. Market share data is given on both global and regional levels. Regions covered in the report are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Research analysts assess the market positions of the leading competitors and provide competitive analysis for each company. For this study, this report segments the global Real World Evidence Solutions For Oncology market on the basis of product, application, and region:

Segments Covered in this report are:

Applications Outlook (Revenue, USD Billion; 2019-2032)

Breast Cancer

Lung Cancer

Others

Component Outlook (Revenue, USD Billion; 2019-2032)

Electronic Health Record (EHR)

Integrated dataset  

Others

Regional Outlook (Revenue, USD Billion; 2019–2032)

North America

U.S.

Canada

Mexico

Europe

Germany

France

U.K.

Italy

Spain

Benelux

Rest of Europe

Asia Pacific

China

India

Japan

South Korea

Rest of APAC

Latin America

Brazil

Rest of LATAM

Middle East & Africa

Saudi Arabia

UAE

South Africa

Turkey

Rest of MEA

Browse Full Report Description + Research Methodology + Table of Content + Infographics@ https://www.emergenresearch.com/industry-report/real-world-evidence-solutions-for-oncology-market

Major Geographies Analyzed in the Report:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

ToC of the report:

Chapter 1: Market overview and scope

Chapter 2: Market outlook

Chapter 3: Impact analysis of COVID-19 pandemic

Chapter 4: Competitive Landscape

Chapter 5: Drivers, Constraints, Opportunities, Limitations

Chapter 6: Key manufacturers of the industry

Chapter 7: Regional analysis

Chapter 8: Market segmentation based on type applications

Chapter 9: Current and Future Trends

Request Customization as per your specific requirement@ https://www.emergenresearch.com/request-for-customization/1772

[rohit0024]

Real World Evidence Solutions Market Worth $78.80 Billion By 2030

Real World Evidence Solutions Market Worth $78.80 Billion By 2030

Real World Evidence Solutions Market Growth & Trends The global real world evidence solutions market size is expected to reach USD 78.80 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.1% from 2022 to 2030. The key factors driving the real world evidence (RWE) solutions market include favorable government regulations and a…

[metiresearchinfo]

U.S. Real-World Evidence (RWE) Solutions Market Worth $2.01 billion by 2028- Exclusive Report by Meticulous Research®

According to a new market research report titled “U.S. Real-World Evidence (RWE) Solutions Market by Component [Datasets (Clinical, Claims, Pharmacy, Integrated), Services], Application (Market Access, Oncology, Neurology, Post Market Surveillance), End User (Pharma Companies, Providers)- Forecast to 2028”, published by Meticulous Research®, the U.S. real-world evidence solutions market is expected to grow at a CAGR of 13.0% from 2021 to 2028 to reach $2.01 billion by 2028.

Real-world evidence (RWE) is clinical evidence gathered via RWD analysis on a medical product’s use and potential benefits or risks. RWE can be produced through various study designs or analyses, not limited to randomized trials, large simple trials, pragmatic trials, and observational studies (prospective or retrospective). RWE has several applications, including drug development life cycles, shortening development timelines, reducing the costs of clinical trials, and improving the probability of technical and regulatory success.

Download Sample Report Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=5243

Growth of this market is driven by key factors such as the growing incidence of chronic & infectious diseases, delays in drug development and the subsequent increase in development costs, rising focus towards personalized healthcare, a shift from volume to value-based care, and rapidly growing big data in healthcare.

Impact of COVID-19 on the U.S. RWE Solutions Market

The COVID-19 pandemic has put a tremendous burden on the U.S. healthcare sector. As the COVID-19 outbreak continued to take its toll, real-world evidence (RWE) became the most influential emerging technology to fight against the COVID-19 outbreak. Real-world evidence solutions provided valuable insights to better understand, monitor, and prepare for the challenges caused by the COVID-19 pandemic. Technological advancements have made it possible to aggregate the data from conventional reporting tools and technology networks, such as mobile apps.

Real-world data (RWD), captured directly from patients or through medical claims or electronic medical records (EMRs), has the potential to support COVID-19 research in a better manner compared to randomized clinical trials (RCT). RCTs are now underway to evaluate existing and new therapies. Thus, there are opportunities for non-randomized RWE to provide information in the interim and answer additional real-world questions that are not addressed in the studies. Thus, the pandemic is expected to further propel the growth of the U.S. RWE market.

RWE Solutions Market: Future Outlook

The U.S. RWE solutions market study presents historical market data in terms of values (2019 and 2020), estimated current data (2021), and forecasts it for 2028– by Component (Datasets and Consulting Services), Application (Market Access & Reimbursement/Coverage Decisions, Drug Development & Approvals, Post Market Surveillance, Medical Device Development & Approvals, and Other Applications), and End User (Pharmaceutical, Biotechnology, and Medical Device Companies, Healthcare Payers, Healthcare Providers, and Other End Users).

Based on component, the consulting & analytics segment is expected to show the fastest growth rate during the forecast period. Real-world evidence consulting service providers use robust real-world datasets generated by conducting prospective/observational studies to offer customized consulting services to generate fit-for-purpose data and insights for their stakeholders instead of providing terabytes of data.

Based on application, the drug development & approvals segment is expected to show the fastest growth rate in the forecast period. Factors attributing towards the growth of this segment are increasing demand for real-world data and real-world evidence to accelerate drug discovery and development and increasing investments by biopharmaceutical companies in R&D. In the field of drug development, quality-of-life metrics, and Patient-Reported Outcome Measures (PROMs) are now becoming common elements in clinical trials.

You Can Buy Report Here @ https://www.meticulousresearch.com/Checkout/58313190

The evidence generated from real-world data is regularly utilized to inform aspects of drug development. The role of RWE in drug development is expanding as RWE studies are significantly less costly and time-consuming than RCTs, providing easier access to long-term effectiveness data and helping overcome some of the feasibility barriers of running RCTs.

Based on end user, the pharmaceutical & medical device companies segment is expected to show the fastest growth rate in the forecast period. The growth of this segment is primarily attributed to the increasing importance of RWE studies in drug development & approvals and the growing need to avoid costly drug recalls and assess drug performance in real-world settings. The cost of developing a new drug was more than ~USD 2,600 million in 2020 compared to USD 802 million in 2003. This increase in drug development costs reflects various technical, regulatory, and economic challenges pharmaceutical R&D pipelines face.

Key companies operating in the U.S. RWE solutions market are IQVIA HOLDINGS INC. (U.S.), ICON plc (Ireland), PPD, Inc. (U.S.), Clinigen Group plc (U.K.), Cognizant Technology Solutions Corporation (U.S.), IBM Corporation (U.S.), SAS Institute Inc. (U.S.), UnitedHealth Group Incorporated (U.S.), Oracle Corporation (U.S.), PAREXEL International Corporation (U.S.), PerkinElmer, Inc. (U.S.), Flatiron Health (U.S.), SYNEOS HEALTH, INC. (U.S.), CLARIVATE PLC (U.S.), Medpace Holdings, Inc. (U.S.), and Symphony Innovation, LLC (U.S.).

Contact: Mr. Khushal Bombe Meticulous Market Research Inc. 1267 Willis St, Ste 200 Redding, California, 96001, U.S. USA: +1-646-781-8004 Europe : +44-203-868-8738 APAC: +91 744-7780008 Email- sales@meticulousresearch.com Visit Our Website: https://www.meticulousresearch.com/ Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research

[healthcaremarkettrend]

RWE Solutions Market worth USD 2.3 billion by 2026

The study involved four major activities to estimating the current size of the real world evidence solutions market. Exhaustive secondary research was conducted to collect information on the market as well as its peer and parent markets. The next step focused on validating these findings, assumptions, and sizing with industry experts across the value chain through primary research. Revenue Share Analysis, bottom-up and top-down approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation were used to estimate the sizes of segments and sub-segments.

Download a PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=76173991

Major Market Growth Drivers: The rising geriatric population (and the subsequent increase in the prevalence of chronic diseases) is a key factor driving the growth of this market. The shift from volume- to value-based care, delays in drug development (and the subsequent increase in development costs), growth in R&D spending, and support from regulatory bodies for the use of RWE solutions are some of the other major factors that are driving the growth of this market. However, the reluctance to rely on real-world studies and the lack of universally accepted methodological standards for data collection are restraining the growth of this market.

Revenue Growth Analysis:

The global RWE solutions market is projected to reach USD 2.3 billion by 2026 from USD 1.2 billion in 2021, at a CAGR of 14.4% during the forecast period. Browse and in-depth TOC on" Real World Evidence Market" 133 – Tables 57 – Figures 215 – Pages The Services segment accounted for the largest market share in 2020.

Based on component, the market is segmented into data sets and services. In 2020, the services segment accounted for a larger share of 58.8% of the global RWE solutions market. This segment is also estimated to grow at the highest CAGR of 16.0% during the forecast period. The rising need to convert data into actionable evidence, the growing need to reduce drug development delays, and the availability of a large volume of healthcare data are the major factors driving the growth of this market segment. Request a Sample Pages @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=76173991

The Oncology segment accounted for the largest market share in 2020.

Based on the therapeutic area, the RWE solutions market is broadly categorized into oncology, neurology, immunology, cardiovascular disease, and other therapeutic areas. The oncology segment accounted for the largest share of 24.8% of the RWE solutions market in 2020. This segment is projected to reach USD 560.5 million by 2026 from USD 285.5 million in 2021, at a CAGR of 14.4% during the forecast period. The large share of this segment can be attributed to the high number of clinical trials conducted for oncology and the rising prevalence of cancer worldwide.

North America was the largest regional market for real world evidence solutions market in 2020

The global RWE solutions market is segmented into five major regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2020, North America accounted for the largest share of 60.8% of the global market. Factors such as the favorable regulatory environment, the increasing number of payers using RWD, the growing number of RWE service providers, and the increasing number of pharmaceutical companies adopting RWE for drug approval processes are driving the growth of the RWE solutions market in North America. The Asia Pacific market, however, is estimated to grow at the highest CAGR during the forecast period. The increasing government initiatives for the adoption of RWE studies, the rising burden of chronic diseases, increasing demand for better healthcare services, and the increasing geriatric population are driving the growth of the RWE solutions market in the Asia Pacific.

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Key Orthopedic Bracing Market Players: The key players operating in the global Orthopedic Bracing Market are IQVIA (US), IBM Corporation (US), ICON plc. (Ireland), PAREXEL International Corporation (US), PPD, LLC (US), Optum, Inc. (US), Cognizant Technology Solutions Corporation (US), Oracle Corporation (US), SAS Institute Inc. (US), Syneos Health, Inc. (US), Anthem, Inc. (US), Clinigen Group plc. (UK), Medpace Holdings Inc. (US) and Flatiron Health, Inc. (US).