Real World Evidence Solutions Market by Component (Dataset (Claims, Clinical, Pharmacy, Patient), Services), Therapeutic Area (Oncology, Cardiovascular, Immunology), End User (Pharmaceuticals, Medical Devices, Payers, Providers) - Global Forecast to 2023
By: marketsandmarkets.com
Publishing Date: July 2018
Report Code: HIT 6444
[157 Pages Report] Real-world evidence is the clinical evidence regarding the usage and potential benefits or risks of a medical product derived from the analysis of real-world data. Real-world data (RWD) is defined as data derived from a number of sources that are associated with outcomes in a heterogeneous patient population in real-world settings. The global real-world evidence market is valued at 612.0 million in 2017 and projected to reach USD 1,348.1 million by 2023, at a CAGR of 14.3%. The growth of this market is majorly driven by the rising geriatric population (and the subsequent increase in the prevalence of chronic diseases), shift from volume- to value-based care, and delays in drug development (and the subsequent increase in development costs). The base year considered for the study is 2017 and the forecast period includes 2018 to 2023.
Objectives of the Study
- To define, describe, and forecast the global real-world evidence market on the basis of component, therapeutic area, end user, and region
- To provide detailed information regarding the major factors influencing the growth of the real world evidence solutions market (drivers, restraints, opportunities, and industry-specific challenges)
- To strategically analyze micromarkets with respect to the individual growth trends, future prospects, and contributions to the overall market
- To analyze the opportunities in the real world evidence solutions market for stakeholders and provide details of the competitive landscape for market leaders
- To forecast the size of the market segments with respect to four main regions, namely, North America, Europe, Asia Pacific, and the Rest of the World, along with major countries in these regions
- To strategically profile the key players and comprehensively analyze their market shares and core competencies in the real-world evidence market
- To track and analyze competitive developments such as partnerships, agreements, & collaborations; alliances; mergers & acquisitions; and new service launches in the global real world evidence solutions market
Research Methodology
Top-down and bottom-up approaches were used to validate the size of the global market and estimate the size of other dependent submarkets. Various secondary sources such as directories, industry journals, databases such as D&B Hoovers, Bloomberg Business, and Factiva, and annual reports of the companies have been used to identify and collect information useful for the study of this market. Primary sources such as experts from both supply and demand sides have been interviewed to obtain and validate information as well as to assess dynamics of this market. The breakdown of profiles of primaries is shown in the figure below:
To know about the assumptions considered for the study, download the pdf brochure
The prominent players in the global real world evidence market are IQVIA (US), International Business Machines Corporation (US), ICON (Ireland), PAREXEL (US), Pharmaceutical Product Development (US), Optum (US), Cognizant (US), Oracle (US), SAS (US), Syneos Health (US), Anthem (US), Clinigen Group (UK), Palantir Technologies (UK), and Flatiron Health (US).
Target Audience:
- Hospitals and clinics
- Insurers
- Pharmaceutical and medical device companies
- Academic medical centers
- Government research organizations
- Contract research organizations
- Research and consulting firms
- Regulatory agencies
Scope of the Report:
The research report categorizes the market into the following segments and subsegments:
Real World Evidence Market, By Component
- Introduction
- Data Sets
- Clinical Setting Data
- Claims Data
- Pharmacy Data
- Patient Powered Data
- Services
Real World Evidence Market, By Therapeutic Area
- Oncology
- Cardiovascular Disease
- Neurology
- Immunology
- Others Therapeutic Areas
Real World Evidence Market, By End User
- Pharmaceutical and Medical Device Companies
- Healthcare Payers
- Healthcare Providers
- Other End Users
Real world evidence Market, By Region
- North America
- US
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest Of Europe
- Asia Pacific (APAC)
- China
- Japan
- Rest of APAC
- Rest of the World
Available Customization
With the given market data, MarketsandMarkets offers customizations as per the companys specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (Up to 5)
Geographic Analysis
- Further breakdown of the European market into Sweden, Denmark and Netherland
- Further breakdown of the Asia Pacific market into South Korea and Australia
Table of Contents
1 Real World Evidence Solutions Market: Introduction (Page No. - 16)
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Markets Covered
1.4 Years Considered for the Study
1.5 Limitations
1.6 Currency
1.7 Stakeholders
2 Real World Evidence Solutions Market: Research Methodology (Page No. - 20)
2.1 Research Approach
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Source
2.1.2.2 Breakdown of Primary Interviews
2.1.2.3 Key Industry Insights
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Market Breakdown and Data Triangulation
2.4 Assumptions for the Study
3 Real World Evidence Solutions Market: Executive Summary (Page No. - 28)
4 Real World Evidence Solutions Market: Premium Insights (Page No. - 31)
4.1 Real-World Evidence: Market Overview
4.2 Europe Real-World Evidence Market, By Therapeutic Area and Country
4.3 Market: Geographic Snapshot
4.4 Real-World Evidence: Geographic Mix
5 Real World Evidence Solutions Market: Overview (Page No. - 35)
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rising Geriatric Population and the Subsequent Increase in the Prevalence of Chronic Diseases
5.2.1.2 Shift From Volume- to Value-Based Care
5.2.1.3 Delays in Drug Development and the Subsequent Increase in Development Costs
5.2.2 Restraints
5.2.2.1 Reluctance to Rely on Real-World Studies
5.2.3 Opportunities
5.2.3.1 Growth Opportunities in Emerging Markets
5.2.3.2 Rising Focus on End-To-End Rwe Services
5.2.4 Challenges
5.2.4.1 Lack of Universally Accepted Methodological Standards and Data Processing Infrastructure
6 Industry Trends (Page No. - 41)
6.1 Industry Trends
6.1.1 Emerging Role of Wearable Devices
6.1.2 Social Media Sourced Real-World Evidence
6.1.3 Incorporation of Artificial Intelligence in Real-World Data Management
6.2 Real-World Data Sources
7 Real World Evidence Solutions Market: By Component (Page No. - 45)
7.1 Introduction
7.2 Data Sets
7.2.1 Clinical Settings Data
7.2.2 Claims Data
7.2.3 Pharmacy Data
7.2.4 Patient-Powered Data
7.3 Services
8 Real World Evidence Solutions Market: By Therapeutic Area (Page No. - 55)
8.1 Introduction
8.2 Oncology
8.3 Cardiovascular Disease
8.4 Neurology
8.5 Immunology
8.6 Other Therapeutic Areas
9 Real World Evidence Solutions Market: By End User (Page No. - 63)
9.1 Introduction
9.2 Pharmaceutical & Medical Device Companies
9.3 Healthcare Payers
9.4 Healthcare Providers
9.5 Other End Users
10 Real World Evidence Solutions Market: By Region (Page No. - 70)
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 France
10.3.4 Italy
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 Rest of APAC
10.5 Rest of the World
11 Competitive Landscape (Page No. - 111)
11.1 Overview
11.2 Competitive Scenario
11.2.1 Mergers & Acquisitions
11.2.2 Partnerships, Agreements, Alliances, and Collaborations
11.2.3 Services Launches
12 Company Profiles (Page No. - 115)
(Business Overview, Services Offered, Recent Developments, SWOT Analysis, MnM View)*
12.1 Iqvia
12.2 IBM
12.3 Pharmaceutical Product Development
12.4 Parexel
12.5 Optum (A Subsidiary of United Health Group, Inc.)
12.6 Perkinelmer
12.7 Icon PLC
12.8 Oracle
12.9 Cognizant
12.10 Syneos Health
12.11 Anthem
12.12 Clinigen
12.13 SAS Institute
*Details on Business Overview, Services Offered, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.
13 Appendix (Page No. - 150)
13.1 Insights of Industry Experts
13.2 Discussion Guide
13.3 Knowledge Store: Marketsandmarkets Subscription Portal
13.4 Available Customizations
13.5 Related Reports
13.6 Author Details
List of Tables (92 Tables)
Table 1 Standard Currency Conversion Rates
Table 2 Drivers: Impact Analysis
Table 3 Restraints: Impact Analysis
Table 4 Opportunities: Impact Analysis
Table 5 Challenges: Impact Analysis
Table 6 Indicative List of National Databases in Developed Countries
Table 7 Market, By Component, 20162023 (USD Million)
Table 8 Real-World Evidence Data Sets Market, By Type, 20162023 (USD Million)
Table 9 Real-World Evidence Data Sets Market, By Country, 20162023 (USD Million)
Table 10 Real-World Evidence Clinical Settings Data Market, By Country, 20162023 (USD Million)
Table 11 Real-World Evidence Claims Data Market, By Country, 20162023 (USD Million)
Table 12 Real-World Evidence Pharmacy Data Market, By Country, 20162023 (USD Million)
Table 13 Real-World Evidence Patient-Powered Data Market, By Country, 20162023 (USD Million)
Table 14 Real-World Evidence Services Market, By Country, 20162023 (USD Million)
Table 15 Real-World Evidence Market, By Therapeutic Area, 20162023 (USD Million)
Table 16 Market for Oncology, By Country, 20162023 (USD Million)
Table 17 Real World Evidence Solutions Market for Cardiovascular Disease, By Country, 20162023 (USD Million)
Table 18 Market for Neurology, By Country, 20162023 (USD Million)
Table 19 Market for Immunology, By Country, 20162023 (USD Million)
Table 20 Real-World Evidence Market for Other Therapeutic Areas, By Country, 20162023 (USD Million)
Table 21 Market, By End User, 20162023 (USD Million)
Table 22 Market for Pharmaceutical & Medical Device Companies, By Country, 20162023 (USD Million)
Table 23 Real-World Evidence Market for Healthcare Payers, By Country, 20162023 (USD Million)
Table 24 Market for Healthcare Providers, By Country, 20162023 (USD Million)
Table 25 Market for Other End Users, By Country, 20162023 (USD Million)
Table 26 Market, By Region, 20162023 (USD Million)
Table 27 North America: Real World Evidence Solutions Market, By Country, 20162023 (USD Million)
Table 28 North America: Market, By Component, 20162023 (USD Million)
Table 29 North America: Real-World Evidence Data Sets Market, By Type, 20162023 (USD Million)
Table 30 North America: Market, By Therapeutic Area, 20162023 (USD Million)
Table 31 North America: Real-World Evidence Market, By End User, 20162023 (USD Million)
Table 32 US: Market, By Component, 20162023 (USD Million)
Table 33 US: Real-World Evidence Data Sets Market, By Type, 20162023 (USD Million)
Table 34 US: Real-World Evidence Market, By Therapeutic Area, 20162023 (USD Million)
Table 35 US: Real World Evidence Solutions Market, By End User, 20162023 (USD Million)
Table 36 Canada: Market, By Component, 20162023 (USD Million)
Table 37 Canada: Real-World Evidence Data Sets Market, By Type, 20162023 (USD Million)
Table 38 Canada: Market, By Therapeutic Area, 20162023 (USD Million)
Table 39 Canada: Real World Evidence Solutions Market, By End User, 20162023 (USD Million)
Table 40 Europe: Market, By Country, 20162023 (USD Million)
Table 41 Europe: Real World Evidence Solutions Market, By Component, 20162023 (USD Million)
Table 42 Europe: Real-World Evidence Data Sets Market, By Type, 20162023 (USD Million)
Table 43 Europe: Real-World Evidence Market, By Therapeutic Area, 20162023 (USD Million)
Table 44 Europe: Market, By End User, 20162023 (USD Million)
Table 45 Germany: Market, By Component, 20162023 (USD Million)
Table 46 Germany: Real-World Evidence Data Sets Market, By Type, 20162023 (USD Million)
Table 47 Germany: Real World Evidence Solutions Market, By Therapeutic Area, 20162023 (USD Million)
Table 48 Germany: Market, By End User, 20162023 (USD Million)
Table 49 UK: Market, By Component, 20162023 (USD Million)
Table 50 UK: Real-World Evidence Data Sets Market, By Type, 20162023 (USD Million)
Table 51 UK: Market, By Therapeutic Area, 20162023 (USD Million)
Table 52 UK: Real-World Evidence Market, By End User, 20162023 (USD Million)
Table 53 France: Market, By Component, 20162023 (USD Million)
Table 54 France: Real-World Evidence Data Sets Market, By Type, 20162023 (USD Million)
Table 55 France: Real-World Evidence Market, By Therapeutic Area, 20162023 (USD Million)
Table 56 France: Real World Evidence Solutions Market, By End User, 20162023 (USD Million)
Table 57 Italy: Market, By Component, 20162023 (USD Million)
Table 58 Italy: Real-World Evidence Data Sets Market, By Type, 20162023 (USD Million)
Table 59 Italy: Real-World Evidence Market, By Therapeutic Area, 20162023 (USD Million)
Table 60 Italy: Real World Evidence Solutions Market, By End User, 20162023 (USD Million)
Table 61 Spain: Market, By Component, 20162023 (USD Million)
Table 62 Spain: Real-World Evidence Data Sets Market, By Type, 20162023 (USD Million)
Table 63 Spain: Real-World Evidence Market, By Therapeutic Area, 20162023 (USD Million)
Table 64 Spain: Real World Evidence Solutions Market, By End User, 20162023 (USD Million)
Table 65 RoE: Market, By Component, 20162023 (USD Million)
Table 66 RoE: Real-World Evidence Data Sets Market, By Type, 20162023 (USD Million)
Table 67 RoE: Real-World Evidence Market, By Therapeutic Area, 20162023 (USD Million)
Table 68 RoE: Real World Evidence Solutions Market, By End User, 20162023 (USD Million)
Table 69 Asia Pacific: Market, By Component, 20162023 (USD Million)
Table 70 Asia Pacific: Real-World Evidence Data Sets Market, By Type, 20162023 (USD Million)
Table 71 Asia Pacific: Real-World Evidence Market, By Therapeutic Area, 20162023 (USD Million)
Table 72 Asia Pacific: Real World Evidence Solutions Market, By End User, 20162023 (USD Million)
Table 73 Japan: Market, By Component, 20162023 (USD Million)
Table 74 Japan: Real-World Evidence Data Sets Market, By Type, 20162023 (USD Million)
Table 75 Japan: Real-World Evidence Market, By Therapeutic Area, 20162023 (USD Million)
Table 76 Japan: Real World Evidence Solutions Market, By End User, 20162023 (USD Million)
Table 77 China: Market, By Component, 20162023 (USD Million)
Table 78 China: Real-World Evidence Data Sets Market, By Type, 20162023 (USD Million)
Table 79 China: Real-World Evidence Market, By Therapeutic Area, 20162023 (USD Million)
Table 80 China: Real World Evidence Solutions Market, By End User, 20162023 (USD Million)
Table 81 RoAPAC: Market, By Component, 20162023 (USD Million)
Table 82 RoAPAC: Real-World Evidence Data Sets Market, By Type, 20162023 (USD Million)
Table 83 RoAPAC: Real World Evidence Solutions Market, By Therapeutic Area, 20162023 (USD Million)
Table 84 RoAPAC: Market, By End User, 20162023 (USD Million)
Table 85 RoW: Market, By Component, 20162023 (USD Million)
Table 86 RoW: Real-World Evidence Data Sets Market, By Type, 20162023 (USD Million)
Table 87 RoW: Real World Evidence Solutions Market, By Therapeutic Area, 20162023 (USD Million)
Table 88 RoW: Real-World Evidence Market, By End User, 20162023 (USD Million)
Table 89 Growth Strategy Matrix (20142018)
Table 90 Acquisitions, 20142018
Table 91 Partnerships, Agreements, Alliances, and Collaborations, 20142017
Table 92 Service Launches, 20142017
List of Figures (40 Figures)
Figure 1 Real-World Evidence Market Segmentation
Figure 2 Research Design
Figure 3 Data Triangulation Methodology
Figure 4 Real World Evidence Solutions Market, By Component, 2018 vs 2023 (USD Million)
Figure 5 Real World Evidence Solutions Market, By Therapeutic Area, 2018 vs 2023 (USD Million)
Figure 6 Real World Evidence Solutions Market, By End User, 2018 vs 2023 (USD Million)
Figure 7 Geographic Snapshot of the Real-World Evidence Market
Figure 8 Market is Projected to Witness A Double-Digit Growth in the Forecast Period
Figure 9 Oncology Segment Commanded the Largest Share of the Market in 2017
Figure 10 The US Accounted for the Largest Share of the Market in 2017
Figure 11 APAC to Register the Highest CAGR During the Forecast Period
Figure 12 Real-World Evidence Market: Drivers, Restraints, Opportunities, and Challenges
Figure 13 Growth in Geriatric Population, By Region (20152050)
Figure 14 Utilization of Wearables in Clinical Trials, By Therapeutic Area (2016)
Figure 15 Data Sets to Form the Largest Component Segment in the Market During the Forecast Period
Figure 16 EHR Adoption By Office-Based Physicians, US (20062015)
Figure 17 E-Prescribing Utilization Among Pharmacies and Prescribers in the US (20132017)
Figure 18 Increase in Clinical Trials During 20102017, By Therapeutic Area
Figure 19 Oncology Segment Will Continue to Dominate the Market By 2023
Figure 20 Pharmaceutical & Medical Device Companies to Continue to Dominate the Market in 2023
Figure 21 FDA Phase Transition Success Rates, 20062015
Figure 22 Market: Geographical Growth Opportunities
Figure 23 North America: Market Snapshot
Figure 24 Clinical Trials in Canada (20132017)
Figure 25 Europe: Real-World Evidence Market Snapshot
Figure 26 Adult Wearable Device User Base and Internet Penetration in China (20152019)
Figure 27 Number of Observational Studies in China, 20132017
Figure 28 Key Developments in the Market Between 2014 and 2018
Figure 29 Iqvia: Company Snapshot (2017)
Figure 30 IBM Corporation: Company Snapshot (2017)
Figure 31 Parexel: Company Snapshot (2017)
Figure 32 Optum: Company Snapshot (2017)
Figure 33 Perkinelmer: Company Snapshot (2017)
Figure 34 Icon PLC: Company Snapshot (2017)
Figure 35 Oracle: Company Snapshot (2017)
Figure 36 Cognizant: Company Snapshot (2017)
Figure 37 Syneos Health: Company Snapshot (2017)
Figure 38 Anthem, Inc.: Company Snapshot (2017)
Figure 39 Clinigen: Company Snapshot (2017)
Figure 40 SAS Institute: Company Snapshot (2017)
The global real world evidence solutions market is projected to reach USD 1,348.1 million by 2023 from USD 689.9 million in 2018, at a CAGR of 14.3% during the forecast period. The growth of this market is majorly driven by the rising geriatric population (and the subsequent increase in the prevalence of chronic diseases), shift from volume- to value-based care, and delays in drug development (and the subsequent increase in development costs).
The report analyzes the global real world evidence solutions market by component, therapeutic area, end user, and region. On the basis of component, the data sets segment accounted for the largest share of the global market in 2017. The large share can be attributed to factors such as easy availability of massive amounts of data, increasing dependence of outcome-based studies on real-world data, and rising demand for information by payers and providers regarding drug safety.
Based on therapeutic area, the real-world evidence market is broadly categorized into oncology, neurology, immunology, cardiovascular disease, and other therapeutic areas. The oncology segment accounted for the largest share of the market in 2017. 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.
Based on end user, the real-world evidence market is segmented into pharmaceutical & medical device companies, healthcare providers, healthcare payers, and other end users (academic institutions, patient advocacy groups, and health technology assessment agencies). The pharmaceutical & medical device companies segment accounted for the largest share of the market in 2017. The large share of this segment can be attributed to the increasing importance of RWE studies in drug approvals, the need to prevent costly drug recalls, and the increasing need to assess drug performance in real-world settings.
The real-world evidence market is broadly segmented into four major regions, namely, North America, Europe, Asia Pacific, and the Rest of the World (RoW). 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 rising focus on end-to-end RWE services and growth opportunities in emerging markets are expected to provide further growth opportunities for players operating in the real world evidence market. However, the reluctance to rely on real-world studies and the lack of universally accepted methodological standards for data collection some of the factors limiting the growth of this market during the forecast period.
The prominent players in the global real world evidence solutions market are IQVIA (US), ICON (Ireland), PAREXEL (US), Pharmaceutical Product Development (US), Optum (US), International Business Machines Corporation (US), Cognizant (US), Oracle (US), SAS (US), Syneos Health (US), Anthem (US), Clinigen Group (UK), Palantir Technologies (UK), and Flatiron Health (US).
IQVIA is one of the worlds leading providers of real-world evidence services with a wide geographical coverage. The companys strong foothold in the market is primarily attributed to various factors such as its robust technical and service capabilities, good client relationships, diversified service offerings, and its ability to enhance the penetration of its offerings. IQVIA has registered significant growth serving providers, payers and the biopharmaceutical services industry, and has a presence in all major markets, including the US, Japan, Germany, France, Spain, and Italy, in addition to Brazil, Russia, India, and China (BRIC countries). To increase its geographic presence and customer base, the company focused on mergers and acquisitions as a key growth strategy. Over the past three years, the company has made three major mergers and acquisitions.
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