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) (2022 - 2026)
[215 Pages Report] Real-world data and real-world evidence are used to monitor the post-market safety and adverse events of drugs. The monitoring of this data assists in making regulatory decisions. The healthcare community is using RWE and RWD to support coverage decisions and to develop guidelines and decision support tools for use in clinical practice.
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. 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.
In this report, the RWE solutions market is segmented based on component, therapeutic area, end user, and region.
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COVID-19 Impact on the Real World Evidence Solutions Market
The emergence of this pandemic has posed severe financial constraints on pharma-biopharma companies in several countries. In this regard, RWE solutions have proven to be very helpful, as they allow industrial and academic researchers to monitor patients using digitally connected platforms while helping to organize and evaluate clinical data for regulatory submissions.
The uncertainty brought on by the COVID-19 pandemic has dramatically shifted how and when patients decide to seek medical care. In addition, shifts in healthcare coverage and provision during the pandemic have changed the discovery and reporting of certain outcomes in data and the treated population. This means that disease trends may lead to incorrect interpretations when RWD and RWE are not framed in the context of the pandemic and long-term COVID-19 disease, therapy, and lifestyle changes. The following were identified as key concerns affecting RWD and research due to the pandemic:
- Shifts in treatment-seeking behavior
- Impact on near-term outcomes
- Impact on long-term outcomes
RWE is set to become the most influential emerging technology to help in the fight against the COVID-19 outbreak, according to the latest poll on GlobalData’s Pharmaceutical Technology website. In this poll, which was completed by 935 of its readers in April 2021, more than one-third of the respondents indicated that RWE would have the greatest impact on the management of COVID-19. A smaller percentage of the readers identified telemedicine (28%) and artificial intelligence (20%) as the most important emerging trends. Even though emerging technologies, such as telemedicine, have existed for decades, most of healthcare systems rely heavily on in-person interactions between patients and clinicians. Nevertheless, the current requirement for social distancing measures is swiftly pushing the primary care provision toward remote care. Telemedicine and virtual care may also prompt a greater adoption of technologies such as wearables and digital therapeutics, thus accelerating digitalization in the healthcare space and boosting the importance of RWE and AI.
RWE can provide valuable insights to better understand, monitor, and prepare for the challenges caused by outbreaks such as the COVID-19 pandemic. The utilization of RWE in infectious disease control is not a new concept. During the Ebola outbreak in 2014, forecasters successfully used Global Epidemic and Mobility (GLEaM) simulations that combined real-world data on populations and their mobility with rigorous stochastic models of disease transmission to predict the global spread of the disease. By understanding where and how quickly the outbreak is likely to spread, the same tracking models could be adapted to fight any upcoming COVID-19 outbreaks. Even though most countries have announced decreasing death rates from COVID-19, real-world evidence may become an essential tool in trying to suppress the disease. Few of the valuable RWE gathered about the virus through the innovative use of real-world studies are mentioned below:
- In July 2020, the FDA’s Oncology Center of Excellence published the results of a real-world study that reviewed more than 212,000 health records of people living with cancer. The analysis found that cancer patients who also had COVID-19 were more likely to experience increased rates of hospitalization and invasive mechanical ventilation and faced a 16-fold increased mortality risk.
- The Observational Health Data Sciences and Informatics (OHDSI) international community conducted an 88-hour virtual study-a-thon in March 2021 to inform healthcare decision-making in response to the pandemic. The event drew 330 global experts to answer critical questions about the virus, including conducting a global characterization study of COVID-positive patients using RWD from countries around the world.
Mobile contact-tracing apps have played an important role in easing the spread of COVID-19 in China. Government-backed apps analyzed personal data to group individuals into color-coded categories corresponding to their health status and level of risk to contract COVID-19. Following success in China, an increasing number of countries have started to look for ways to implement similar measures. In countries with strict data privacy laws, the implications of contact-tracing apps on individual privacy are considered a major associated concern. While cryptographers are currently working on improving tracing apps to address the issue, tracking apps can only be effective when they are used by a significant proportion of the population. Therefore, it is critical that the functionality and safety of these applications are considered acceptable by the majority of the population.
Through the analysis of the data generated from various networks, healthcare organizations can benefit from sensible information, resulting in real-time disease monitoring and control. However, as the use of technology as a means to produce more and more data to drive insights and foresight increases, the ability to automate and analyze that data becomes a necessity. Accelerated digitalization in the healthcare space has revealed gaps in infrastructure, workforce, and digital education that ultimately need to be bridged. Without intelligent analytics, RWE alone will not be able to produce meaningful and actionable results. Previously, the healthcare industry did not have the ability to gather RWE at the speed and scale needed to address urgent public health crises. However, this scenario has changed due to the pandemic. Advances in analytics and access to broad and diverse real-world data sets have made it possible to rapidly analyze data as it is captured to better understand how pandemics like COVID-19 are unfolding.
Real World Evidence Solutions Market Dynamics
Drivers: Support from regulatory bodies for the use of RWE solutions
Regulators use RWE to monitor the safety of marketed products through traditional pharmacovigilance tools (for instance, Periodic Benefit-Risk Evaluation Report, Periodic Safety Update Report, and Vaccine Adverse Event Reporting System) as well as newer digital aids such as the FDA Sentinel Initiative, a post-market active safety surveillance system. The pre-approved use of RWE in efficacy decisions is being carried out currently, and there is potential for it to be used more broadly, such as in oncology, rare diseases, and pediatric conditions when randomized controlled clinical trials are impossible or unethical to conduct. In parallel, legislators are recognizing the value of RWE. In the US, the 21st Century Cures Act, passed in December 2016, has established public-private partnerships to collect data and improve the understanding of diseases. It also supports patient-focused drug development and has modernized the design of clinical trials and their review process. There is also an emerging desire by regulators to make RWE much more central to their activities. This is reflected in the FDA’s efforts to integrate data collected from electronic medical records, claims data, and registries to create a unified system for monitoring the safety of medical products. Similarly, a National Institutes of Health (NIH) Common Fund has been established to build infrastructure, operational knowledge, and capacity for “pragmatic research” that incorporates electronic health records and other real-world data into large-scale distributed research networks to allow researchers to identify cohorts of interest more easily and expedite studies.
The FDA’s RWE Program is multifaceted. It involves demonstration projects, stakeholder engagement, and internal processes to bring senior leadership input into the evaluation of RWE. It also promotes shared learning and consistency in applying the framework and offers guidance documents to assist developers interested in using RWD to support agency regulatory decisions. Additionally, in 2019, the FDA released a draft guidance on the use of RWE in regulatory submissions. Similarly, the European Medicines Agency (EMA) released the EMA Regulatory Science to 2025 Reflection Paper, which included promoting the use of high-quality RWD in decision-making as one of its strategic goals. Organizations such as the Bipartisan Policy Center have also published recommendations to advance the generation and use of RWE for regulatory evaluation. Such developments are expected to drive the growth of the RWE solutions market.
Restrains: Reluctance to rely on real-world studies
Despite rapid movement toward the use of RWE, some stakeholders remain reluctant to rely on real-world studies. For instance, although payers have started using RWE, they prefer to use randomized clinical trials (RCTs) instead of external observational data to inform drug coverage decisions. The major reason for this is the presence of multiple standards and methods for conducting analysis with real-world clinical experience evidence. Moreover, the processes and evidence used in making pharmaceutical coverage decisions vary substantially among US health plan payers. These variations during the pharmaceutical technology assessment (PTA) process can affect reimbursement, patient access, and potentially the healthcare outcomes across health plans. Thus, stakeholders are reluctant to utilize evidence lacking a standard data generation procedure.
Most sources of RWD are not collected for research purposes, which means data quality is an issue. Also, companies are reluctant to adopt real-world evidence strategies since regulatory guidance still is coming together in this area. For instance, while the US Food and Drug Administration released its RWE framework in December 2018, it will not release the final guidance on the use of real-world evidence in trials of new indications for marketed drugs and post-marketing studies until December 2021. Moreover, the methods of addressing data gaps and inconsistencies are not yet widely accepted for statistical validity. Such issues are expected to limit the growth of the RWE solutions market during the forecast period.
Opportunitie: Rising focus on end-to-end RWE services
The healthcare ecosystem is continuously changing. Globally, there is increased scrutiny on “value,” as financing healthcare stakeholders seek new alternatives to deal with the unsustainable cost burden and relatively poor return on investment. In order to prove value, companies need a strong evidence lifecycle management capability. This has created an opportunity for an end-to-end approach to leverage the data, evidence, and knowledge assets of a life sciences organization that breaks down traditional silos and enables insight-driven decision-making from R&D to the product commercialization phase. This includes establishing an effective governance strategy, leveraging technologies such as cloud and self-service analytics, and providing the ability to integrate data sets and understand the appropriate resources for the necessary analytics (and tactical issues around data access and quality).
Currently, companies such as IQVIA, ICON Plc, and Syneos Health offer end-to-end RWE and late-phase services such as study planning, protocol development, clinical study management, and reporting. The growing impetus to provide complete evidence services throughout the product lifecycle is expected to offer potential opportunities for RWE vendors to increase investments in the complete drug development cycle.
Challenges Lack of universally accepted methodological standards and data processing infrastructure
The lack of universally accepted standards or principles for the design, conduct, analysis, and reporting of RWE is a major challenge in this market. This lack of consensus has led to a situation where RWE is often not considered of high enough quality to be a part of the body of evidence used to determine the comparative effectiveness of different treatment options. This undercuts the potential value of the information produced, thus reducing the incentive to generate it. In addition, this leads to the disinclination of major stakeholders in the adoption of RWE.
As data from real-world conditions has little internal validity, issues such as inconsistency in data, concerns about robustness, lack of access to data, and lack of investigator expertise also pose a challenge to the generation of accurate evidence, posing hurdles to market growth. Healthcare involves a diverse set of public and private data collection systems, including health surveys, administrative enrollment and billing records, and medical records, which are used by various entities, including hospitals, CHCs, physicians, and health plans. Addressing health and healthcare disparities requires the full involvement of organizations that have an existing infrastructure for data quality measurement and improvement. The foremost limitation is a real shortage of digitalized and interoperable patient data, especially in the rural parts of a country. The lack of a standard platform for data collection and sharing is thus considered a threat to the growth of the RWE solutions market. The general lack of objective health data makes informed or targeted disease prevention difficult, especially in the context of limited resources, thus posing serious challenges to evidence generation.
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.
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.
The Pharmaceutical and Medical Device Companies segment accounted for the largest market share in 2020.
Based on end user, the RWE solutions market is broadly segmented into pharmaceutical & medical device companies, healthcare providers, healthcare payers, and other end users (CROs, academic institutions, patient advocacy groups, and health technology assessment agencies). The pharmaceutical & medical device companies segment accounted for the largest share of 46.3% of the RWE solutions market in 2020. This segment is also estimated to grow at the highest CAGR of 16.8% during the forecast period. The large share and high growth of this end-user 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.
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.
Key Market Players
Prominent players in the real world evidence solutions market include 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). These companies adopted strategies such as service launches, expansions, agreements, partnerships, collaborations, and acquisitions to strengthen their market presence in the real world evidence solutions market.
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Report Metric |
Details |
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Market size available for years |
2019-2026 |
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Base year considered |
2020 |
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Forecast period |
2021–2026 |
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Forecast units |
Value (USD Billion) |
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Segments covered |
By Component, Therapeutic Area, End User and Region |
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Geographies covered |
North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
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Companies covered |
The major market players include IQVIA (US), IBM (US), ICON, plc. (Ireland), PAREXEL International Corporation (US), PPD, LLC (US), Optum, Inc. (US), Cognizant (US), Oracle (US), SAS (US), Syneos (US), Anthem (US), Clinigen (UK), PerkinElmer (US), Cerner Corporation (US), Medpace (US), Aetion (US), Cegedim Health Data (France), TriNetX (US), Trinity (US), Verantos (US), Sciformix (US), Ciox Health (US), Tempus (US), Flatiron Health (US), and Syapse (US). |
The study categorizes the real world evidence solutions market based on By Component, Therapeutic Area and End User at the regional and global level.
By Component
- Services
- Data Sets
- Clinical setting data
- Claims data
- Pharmacy data
- Patient powered data
By Therapeutic area
- Oncology
- Cardiovascular
- Neurology
- Immunology
- Others
By End Users
- Pharmaceutical and Medical Devices Companies
- Healthcare Providers
- Healthcare Payers
- Other End Users
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Recent Developments
- In May 2021 Verantos (US) partnered with Lundbeck (US). Through this partnership, the two companies will collaborate on a study to enable RWE in support of migraine therapy.
- In May 2021, Five RWD and analytics organizations entered into an industry coalition dedicated to advancing the use of RWE to support regulatory decisions. The founding members of the RWE Alliance are Aetion, Flatiron Health, IQVIA, Syapse, and Tempus.
- In February 2021 ICON (Ireland) acquired PRA Health Sciences (US). This acquisition was carried out to integrate PRA’s mobile and connected health platforms, real-world data, and information solutions with ICON’s Accellacare site network, home health services, and wearables expertise.
- In December 2020 Cerner (US) acquired a Health Division of the Kantar Group (UK). Through this acquisition, Cerner entered the RWE solutions market.
- In July 2020 Cegedim Health Data (France) partnered with Aetion (US). This partnership was carried out to integrate Cegedim’s THIN - European real-world data into the Aetion Evidence Platform (AEP). AEP analyzes data from the real world, including claims, electronic health records, registries, and clinical trial data to produce transparent, rapid, and scientifically validated RWE on the safety, effectiveness, and value of medical interventions.
Frequently Asked Questions (FAQ):
Which type of component is leading the by type of component segment?
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.
Which is the leading therapeutic area segment for real world evidence solutions market?
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.
Which is the leading type of end user segment of real world evidence solutions market?
Based on end user, the RWE solutions market is broadly segmented into pharmaceutical & medical device companies, healthcare providers, healthcare payers, and other end users (CROs, academic institutions, patient advocacy groups, and health technology assessment agencies). The pharmaceutical & medical device companies segment accounted for the largest share of 46.3% of the RWE solutions market in 2020. This segment is also estimated to grow at the highest CAGR of 16.8% during the forecast period. The large share and high growth of this end-user 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.
Who are the key players operating in the Real World Evidence Solutions market?
The Real World Evidence Solutions market is competitive. The prominent players operating in this 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).
Which geographical region is dominating in Real World Evidence Solutions market?
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. .
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TABLE OF CONTENTS
1 INTRODUCTION (Page No. - 25)
1.1 OBJECTIVES OF THE STUDY
1.2 MARKET DEFINITION
1.2.1 INCLUSIONS AND EXCLUSIONS
1.2.2 MARKETS COVERED
1.2.3 YEARS CONSIDERED FOR THE STUDY
1.3 CURRENCY
TABLE 1 EXCHANGE RATES UTILIZED FOR CONVERSION TO USD
1.4 LIMITATIONS
1.5 STAKEHOLDERS
1.6 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY (Page No. - 30)
2.1 RESEARCH DATA
FIGURE 1 RESEARCH DESIGN
2.1.1 SECONDARY DATA
2.1.1.1 Key data from secondary sources
2.1.2 PRIMARY DATA
FIGURE 2 PRIMARY SOURCES
2.1.2.1 Key data from primary sources
2.1.2.2 Insights from primary experts
FIGURE 3 BREAKDOWN OF PRIMARY INTERVIEWS: SUPPLY-SIDE AND DEMAND-SIDE PARTICIPANTS
FIGURE 4 BREAKDOWN OF PRIMARY INTERVIEWS (SUPPLY SIDE): BY COMPANY TYPE, DESIGNATION, AND REGION
2.2 MARKET SIZE ESTIMATION: RWE SOLUTIONS MARKET
FIGURE 5 SUPPLY-SIDE MARKET SIZE ESTIMATION: REVENUE SHARE ANALYSIS
FIGURE 6 CAGR PROJECTIONS: OVERALL REAL-WORLD EVIDENCE SOLUTIONS MARKET
2.2.1 TOP-DOWN APPROACH
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION
FIGURE 7 DATA TRIANGULATION METHODOLOGY
2.4 MARKET RANKING ANALYSIS
2.5 ASSUMPTIONS FOR THE STUDY
2.6 RISK ASSESSMENT
TABLE 2 RISK ASSESSMENT: REAL-WORLD EVIDENCE SOLUTIONS MARKET
2.7 LIMITATIONS
2.7.1 METHODOLOGY-RELATED LIMITATIONS
2.7.2 SCOPE-RELATED LIMITATIONS
3 EXECUTIVE SUMMARY (Page No. - 43)
FIGURE 8 REAL-WORLD EVIDENCE SOLUTIONS MARKET, BY COMPONENT, 2021 VS. 2026 (USD MILLION)
FIGURE 9 REAL-WORLD EVIDENCE SOLUTIONS MARKET, BY THERAPEUTIC AREA, 2021 VS. 2026 (USD MILLION)
FIGURE 10 REAL-WORLD EVIDENCE SOLUTIONS MARKET, BY END USER, 2021 VS. 2026 (USD MILLION)
FIGURE 11 REAL-WORLD EVIDENCE SOLUTIONS MARKET: GEOGRAPHIC SNAPSHOT
4 PREMIUM INSIGHTS (Page No. - 46)
4.1 REAL-WORLD EVIDENCE SOLUTIONS MARKET OVERVIEW
FIGURE 12 SUPPORT FROM REGULATORY BODIES FOR THE USE OF RWE SOLUTIONS IS A MAJOR FACTOR DRIVING THE MARKET GROWTH
4.2 ASIA PACIFIC: REAL-WORLD EVIDENCE SOLUTIONS MARKET, BY END USER AND COUNTRY (2020)
FIGURE 13 JAPAN ACCOUNTED FOR THE LARGEST SHARE OF THEASIA PACIFIC MARKET IN 2020
4.3 REAL-WORLD EVIDENCE SOLUTIONS MARKET: GEOGRAPHIC GROWTH OPPORTUNITIES
FIGURE 14 CHINA TO REGISTER THE HIGHEST GROWTH RATE DURING THE FORECAST PERIOD
4.4 REGIONAL MIX: REAL-WORLD EVIDENCE SOLUTIONS MARKET (2021−2026)
FIGURE 15 NORTH AMERICA WILL CONTINUE TO DOMINATE THE REAL-WORLD EVIDENCE SOLUTIONS MARKET DURING THE FORECAST PERIOD
4.5 REAL-WORLD EVIDENCE SOLUTIONS MARKET: DEVELOPED VS. DEVELOPING MARKETS
FIGURE 16 DEVELOPING MARKETS TO REGISTER HIGHER GROWTH RATES DURING THE FORECAST PERIOD
5 MARKET OVERVIEW (Page No. - 50)
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
TABLE 3 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES: IMPACT ANALYSIS
5.2.1 DRIVERS
5.2.1.1 Rising geriatric population and the subsequent increase in the prevalence of chronic diseases
FIGURE 17 GROWTH IN THE GERIATRIC POPULATION, BY REGION (2015–2050)
5.2.1.2 Shift from volume- to value-based care
5.2.1.3 Potential of RWE in reducing drug development costs and expediting the drug development process
5.2.1.4 Growth in R&D spending
FIGURE 18 INCREASING R&D SPENDING OF PHRMA MEMBER COMPANIES, 2010–2018
FIGURE 19 ACTIVE PHARMACEUTICAL PIPELINE, 2009–2019
5.2.1.5 Support from regulatory bodies for the use of RWE solutions
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
5.2.4.2 Shortage of skilled professionals
6 INDUSTRY INSIGHTS (Page No. - 59)
6.1 INDUSTRY TRENDS
6.1.1 EMERGING ROLE OF WEARABLE DEVICES
FIGURE 20 UTILIZATION OF WEARABLES IN CLINICAL TRIALS, BY THERAPEUTIC AREA (2019)
6.1.2 SOCIAL MEDIA-SOURCED RWE
6.1.3 GROWING USE OF RWD AND RWE ACROSS THE PHARMACEUTICAL INDUSTRY
FIGURE 21 RECOMMENDED INVESTMENT MODEL FOR RWD AND RWE
6.1.4 INTERNAL VS. OUTSOURCED RWE ANALYTICS APPROACH
FIGURE 22 INTERNAL VS. OUTSOURCED RWE ANALYTICS APPROACH
6.1.5 INCORPORATION OF ARTIFICIAL INTELLIGENCE IN RWD MANAGEMENT
6.2 REAL-WORLD DATA SOURCES
TABLE 4 INDICATIVE LIST OF NATIONAL DATABASES IN DEVELOPED COUNTRIES
6.3 ECOSYSTEM ANALYSIS
FIGURE 23 ECOSYSTEM COVERAGE: PARENT MARKET (HEALTHCARE IT SOLUTIONS)
FIGURE 24 ECOSYSTEM COVERAGE: REAL-WORLD EVIDENCE SOLUTIONS MARKET
6.4 COVID-19 IMPACT ON THE REAL-WORLD EVIDENCE SOLUTIONS MARKET
6.5 REGULATORY RECOMMENDATIONS FOR REAL-WORLD EVIDENCE SOLUTIONS
6.5.1 NORTH AMERICA
6.5.2 EUROPE
6.5.3 ASIA PACIFIC
6.6 HCIT EXPENDITURE/PRICING ANALYSIS
6.6.1 NORTH AMERICA
TABLE 5 NORTH AMERICA: HEALTHCARE EXPENDITURE, BY COUNTRY
6.6.2 EUROPE
6.6.3 ASIA PACIFIC
TABLE 6 JAPAN: HEALTHCARE IT INITIATIVES AND FUNDING
TABLE 7 CHINA: HEALTHCARE IT INITIATIVES AND FUNDING
7 RWE SOLUTIONS MARKET, BY COMPONENT (Page No. - 73)
7.1 INTRODUCTION
TABLE 8 RWE SOLUTIONS MARKET, BY COMPONENT, 2019–2026 (USD MILLION)
7.2 SERVICES
7.2.1 RISING NEED TO CONVERT DATA INTO ACTIONABLE EVIDENCE TO DRIVE THE DEMAND FOR RWE SERVICES
TABLE 9 RWE SERVICES OFFERED BY KEY MARKET PLAYERS
TABLE 10 RWE SERVICES MARKET, BY COUNTRY, 2019–2026 (USD MILLION)
7.3 DATA SETS
TABLE 11 RWE DATA SETS MARKET, BY TYPE, 2019–2026 (USD MILLION)
TABLE 12 RWE DATA SETS MARKET, BY COUNTRY, 2019–2026 (USD MILLION)
7.3.1 CLINICAL SETTINGS DATA
7.3.1.1 Increasing utilization of EHR data for trial recruitment to fuel the growth of this market segment
FIGURE 25 US: OFFICE-BASED PHYSICIAN EHR ADOPTION (2004–2017)
FIGURE 26 US: HOSPITAL EHR ADOPTION (2007–2018)
TABLE 13 CLINICAL SETTINGS DATA SET SOLUTIONS OFFERED BY KEY MARKET PLAYERS
TABLE 14 RWE CLINICAL SETTINGS DATA MARKET, BY COUNTRY, 2019–2026 (USD MILLION)
7.3.2 CLAIMS DATA
7.3.2.1 Growing need to understand the economic benefits of drug reimbursement by payers to drive growth in this market segment
TABLE 15 CLAIMS DATA SET SOLUTIONS OFFERED BY KEY MARKET PLAYERS
TABLE 16 RWE CLAIMS DATA MARKET, BY COUNTRY, 2019–2026 (USD MILLION)
7.3.3 PHARMACY DATA
7.3.3.1 Increasing adoption of e-prescribing systems to drive the growth of this market segment
FIGURE 27 E-PRESCRIBING UTILIZATION AMONG PHARMACIES AND PRESCRIBERS IN THE US (2013–2017)
TABLE 17 PHARMACY DATA SET SOLUTIONS OFFERED BY KEY MARKET PLAYERS
TABLE 18 RWE PHARMACY DATA MARKET, BY COUNTRY, 2019–2026 (USD MILLION)
7.3.4 PATIENT-POWERED DATA
7.3.4.1 Increasing need to access opinions on diseases and treatments across social media to drive the growth of this market segment
TABLE 19 PATIENT-POWERED DATA SET SOLUTIONS OFFERED BY KEY MARKET PLAYERS
TABLE 20 RWE PATIENT-POWERED DATA MARKET, BY COUNTRY, 2019–2026 (USD MILLION)
8 RWE SOLUTIONS MARKET, BY THERAPEUTIC AREA (Page No. - 84)
8.1 INTRODUCTION
FIGURE 28 NUMBER OF CLINICAL TRIALS, BY THERAPEUTIC AREA, 2010–2017
TABLE 21 GLOBAL NUMBER OF CLINICAL TRIALS IN DIFFERENT THERAPEUTIC AREAS, 2016–2020
TABLE 22 RWE SOLUTIONS MARKET, BY THERAPEUTIC AREA, 2019–2026 (USD MILLION)
8.2 ONCOLOGY
8.2.1 GROWING NUMBER OF CLINICAL TRIALS FOCUSED ON CANCER TREATMENT TO DRIVE THE GROWTH OF THIS MARKET SEGMENT
FIGURE 29 INCIDENCE OF ALL TYPES OF CANCERS WORLDWIDE (2018)
TABLE 23 LIST OF PIPELINE DRUGS FOR ONCOLOGY (2018)
TABLE 24 RWE SOLUTIONS MARKET FOR ONCOLOGY, BY COUNTRY, 2019–2026 (USD MILLION)
8.3 CARDIOVASCULAR DISEASE
8.3.1 HIGH PREVALENCE OF CVD TO DRIVE THE GROWTH OF THIS MARKET SEGMENT
TABLE 25 LIST OF PIPELINE DRUGS FOR CARDIOVASCULAR DISEASE (2018)
TABLE 26 RWE SOLUTIONS MARKET FOR CARDIOVASCULAR DISEASE, BY COUNTRY, 2019–2026 (USD MILLION)
8.4 NEUROLOGY
8.4.1 GROWING PREVALENCE OF NEUROLOGICAL DISORDERS TO DRIVE THE GROWTH OF THIS MARKET SEGMENT
TABLE 27 RWE SOLUTIONS MARKET FOR NEUROLOGY, BY COUNTRY, 2019–2026 (USD MILLION)
8.5 IMMUNOLOGY
8.5.1 INCREASING FOCUS ON DEVELOPING INNOVATIVE PRODUCTS TO DRIVE THE GROWTH OF THIS MARKET SEGMENT
TABLE 28 RWE SOLUTIONS MARKET FOR IMMUNOLOGY, BY COUNTRY, 2019–2026 (USD MILLION)
8.6 OTHER THERAPEUTIC AREAS
TABLE 29 RWE SOLUTIONS MARKET FOR OTHER THERAPEUTIC AREAS, BY COUNTRY, 2019–2026 (USD MILLION)
9 RWE SOLUTIONS MARKET, BY END USER (Page No. - 94)
9.1 INTRODUCTION
TABLE 30 RWE SOLUTIONS MARKET, BY END USER, 2019–2026 (USD MILLION)
9.2 PHARMACEUTICAL & MEDICAL DEVICE COMPANIES
9.2.1 INCREASING R&D EXPENDITURE AND ROBUST PIPELINE TO DRIVE MARKET GROWTH
FIGURE 30 FDA PHASE TRANSITION SUCCESS RATES, 2006–2015
FIGURE 31 ANNUAL DRUG APPROVALS BY CDER (FDA), 2009–2018
FIGURE 32 R&D SPENDING OF PHARMA MEMBER COMPANIES, 2011–2018
TABLE 31 RWE SOLUTIONS MARKET FOR PHARMACEUTICAL & MEDICAL DEVICE COMPANIES, BY COUNTRY, 2019–2026 (USD MILLION)
9.3 HEALTHCARE PAYERS
9.3.1 INCREASED FOCUS ON OUTCOME-BASED PAYMENT MODELS TO DRIVE THE DEMAND FOR RWE SOLUTIONS
TABLE 32 RWE SOLUTIONS MARKET FOR HEALTHCARE PAYERS, BY COUNTRY, 2019–2026 (USD MILLION)
9.4 HEALTHCARE PROVIDERS
9.4.1 RISING NEED TO IMPROVE THE PROFITABILITY OF HEALTHCARE OPERATIONS TO BOOST THE USE OF RWE SOLUTIONS
TABLE 33 RWE SOLUTIONS MARKET FOR HEALTHCARE PROVIDERS, BY COUNTRY, 2019–2026 (USD MILLION)
9.5 OTHER END USERS
TABLE 34 RWE SOLUTIONS MARKET FOR OTHER END USERS, BY COUNTRY, 2019–2026 (USD MILLION)
10 RWE SOLUTIONS MARKET, BY REGION (Page No. - 102)
10.1 INTRODUCTION
TABLE 35 RWE SOLUTIONS MARKET, BY REGION, 2019–2026 (USD MILLION)
10.2 NORTH AMERICA
FIGURE 33 NORTH AMERICA: RWE SOLUTIONS MARKET SNAPSHOT
TABLE 36 NORTH AMERICA: RWE SOLUTIONS MARKET, BY COUNTRY, 2019–2026 (USD MILLION)
TABLE 37 NORTH AMERICA: RWE SOLUTIONS MARKET, BY COMPONENT, 2019–2026 (USD MILLION)
TABLE 38 NORTH AMERICA: RWE DATA SETS MARKET, BY TYPE, 2019–2026 (USD MILLION)
TABLE 39 NORTH AMERICA: RWE SOLUTIONS MARKET, BY THERAPEUTIC AREA, 2019–2026 (USD MILLION)
TABLE 40 NORTH AMERICA: RWE SOLUTIONS MARKET, BY END USER, 2019–2026 (USD MILLION)
10.2.1 US
10.2.1.1 The US holds the largest share of the North American market
TABLE 41 US: NUMBER OF CLINICAL TRIALS STARTED, BY COMPANY, 2017
TABLE 42 US: MACROECONOMIC INDICATORS
TABLE 43 US: RWE SOLUTIONS MARKET, BY COMPONENT, 2019–2026 (USD MILLION)
TABLE 44 US: RWE DATA SETS MARKET, BY TYPE, 2019–2026 (USD MILLION)
TABLE 45 US: RWE SOLUTIONS MARKET, BY THERAPEUTIC AREA, 2019–2026 (USD MILLION)
TABLE 46 US: RWE SOLUTIONS MARKET, BY END USER, 2019–2026 (USD MILLION)
10.2.2 CANADA
10.2.2.1 Growing number of clinical trials in Canada to drive market growth
FIGURE 34 CANADA: NUMBER OF CLINICAL TRIALS (2013–2017)
TABLE 47 CANADA: MACROECONOMIC INDICATORS
TABLE 48 CANADA: RWE SOLUTIONS MARKET, BY COMPONENT, 2019–2026 (USD MILLION)
TABLE 49 CANADA: RWE DATA SETS MARKET, BY TYPE, 2019–2026 (USD MILLION)
TABLE 50 CANADA: RWE SOLUTIONS MARKET, BY THERAPEUTIC AREA, 2019–2026 (USD MILLION)
TABLE 51 CANADA: RWE SOLUTIONS MARKET, BY END USER, 2019–2026 (USD MILLION)
10.3 EUROPE
TABLE 52 EUROPE: RWE SOLUTIONS MARKET, BY COUNTRY, 2019–2026 (USD MILLION)
TABLE 53 EUROPE: RWE SOLUTIONS MARKET, BY COMPONENT, 2019–2026 (USD MILLION)
TABLE 54 EUROPE: RWE DATA SETS MARKET, BY TYPE, 2019–2026 (USD MILLION)
TABLE 55 EUROPE: RWE SOLUTIONS MARKET, BY THERAPEUTIC AREA, 2019–2026 (USD MILLION)
TABLE 56 EUROPE: RWE SOLUTIONS MARKET, BY END USER, 2019–2026 (USD MILLION)
10.3.1 GERMANY
10.3.1.1 High pharmaceutical R&D spending in Germany to boost the market growth
TABLE 57 GERMANY: MACROECONOMIC INDICATORS
TABLE 58 GERMANY: RWE SOLUTIONS MARKET, BY COMPONENT, 2019–2026 (USD MILLION)
TABLE 59 GERMANY: RWE DATA SETS MARKET, BY TYPE, 2019–2026 (USD MILLION)
TABLE 60 GERMANY: RWE SOLUTIONS MARKET, BY THERAPEUTIC AREA, 2019–2026 (USD MILLION)
TABLE 61 GERMANY: RWE SOLUTIONS MARKET, BY END USER, 2019–2026 (USD MILLION)
10.3.2 UK
10.3.2.1 The growing adoption of HTA in the UK and favorable government initiatives are the key factors supporting market growth
TABLE 62 UK: MACROECONOMIC INDICATORS
TABLE 63 UK: RWE SOLUTIONS MARKET, BY COMPONENT, 2019–2026 (USD MILLION)
TABLE 64 UK: RWE DATA SETS MARKET, BY TYPE, 2019–2026 (USD MILLION)
TABLE 65 UK: RWE SOLUTIONS MARKET, BY THERAPEUTIC AREA, 2019–2026 (USD MILLION)
TABLE 66 UK: RWE SOLUTIONS MARKET, BY END USER, 2019–2026 (USD MILLION)
10.3.3 FRANCE
10.3.3.1 High number of oncology clinical trials in France to drive market growth
TABLE 67 FRANCE: MACROECONOMIC INDICATORS
TABLE 68 FRANCE: RWE SOLUTIONS MARKET, BY COMPONENT, 2019–2026 (USD MILLION)
TABLE 69 FRANCE: RWE DATA SETS MARKET, BY TYPE, 2019–2026 (USD MILLION)
TABLE 70 FRANCE: RWE SOLUTIONS MARKET, BY THERAPEUTIC AREA, 2019–2026 (USD MILLION)
TABLE 71 FRANCE: RWE SOLUTIONS MARKET, BY END USER, 2019–2026 (USD MILLION)
10.3.4 ITALY
10.3.4.1 The demand for RWE in Italy is high due to the widespread use of pay-for-outcomes and coverage with evidence development
TABLE 72 ITALY: NUMBER OF CLINICAL TRIALS STARTED, BY COMPANY, 2017
TABLE 73 ITALY: MACROECONOMIC INDICATORS
TABLE 74 ITALY: RWE SOLUTIONS MARKET, BY COMPONENT, 2019–2026 (USD MILLION)
TABLE 75 ITALY: RWE DATA SETS MARKET, BY TYPE, 2019–2026 (USD MILLION)
TABLE 76 ITALY: RWE SOLUTIONS MARKET, BY THERAPEUTIC AREA, 2019–2026 (USD MILLION)
TABLE 77 ITALY: RWE SOLUTIONS MARKET, BY END USER, 2019–2026 (USD MILLION)
10.3.5 SPAIN
10.3.5.1 Rising R&D expenditure to propel market growth in Spain
TABLE 78 SPAIN: MACROECONOMIC INDICATORS
TABLE 79 SPAIN: RWE SOLUTIONS MARKET, BY COMPONENT, 2019–2026 (USD MILLION)
TABLE 80 SPAIN: RWE DATA SETS MARKET, BY TYPE, 2019–2026 (USD MILLION)
TABLE 81 SPAIN: RWE SOLUTIONS MARKET, BY THERAPEUTIC AREA, 2019–2026 (USD MILLION)
TABLE 82 SPAIN: RWE SOLUTIONS MARKET, BY END USER, 2019–2026 (USD MILLION)
10.3.6 REST OF EUROPE
TABLE 83 ROE: RWE SOLUTIONS MARKET, BY COMPONENT, 2019–2026 (USD MILLION)
TABLE 84 ROE: RWE DATA SETS MARKET, BY TYPE, 2019–2026 (USD MILLION)
TABLE 85 ROE: RWE SOLUTIONS MARKET, BY THERAPEUTIC AREA, 2019–2026 (USD MILLION)
TABLE 86 ROE: RWE SOLUTIONS MARKET, BY END USER, 2019–2026 (USD MILLION)
10.4 ASIA PACIFIC
FIGURE 35 ASIA PACIFIC: RWE SOLUTIONS MARKET SNAPSHOT
TABLE 87 ASIA PACIFIC: RWE SOLUTIONS MARKET, BY COUNTRY, 2019–2026 (USD MILLION)
TABLE 88 ASIA PACIFIC: RWE SOLUTIONS MARKET, BY COMPONENT, 2019–2026 (USD MILLION)
TABLE 89 ASIA PACIFIC: RWE DATA SETS MARKET, BY TYPE, 2019–2026 (USD MILLION)
TABLE 90 ASIA PACIFIC: RWE SOLUTIONS MARKET, BY THERAPEUTIC AREA, 2019–2026 (USD MILLION)
TABLE 91 ASIA PACIFIC: RWE SOLUTIONS MARKET, BY END USER, 2019–2026 (USD MILLION)
10.4.1 JAPAN
10.4.1.1 Stringent regulatory scenario in Japan to restrain the market growth
TABLE 92 JAPAN: MACROECONOMIC INDICATORS
TABLE 93 JAPAN: RWE SOLUTIONS MARKET, BY COMPONENT, 2019–2026 (USD MILLION)
TABLE 94 JAPAN: RWE DATA SETS MARKET, BY TYPE, 2019–2026 (USD MILLION)
TABLE 95 JAPAN: RWE SOLUTIONS MARKET, BY THERAPEUTIC AREA, 2019–2026 (USD MILLION)
TABLE 96 JAPAN: RWE SOLUTIONS MARKET, BY END USER, 2019–2026 (USD MILLION)
10.4.2 CHINA
10.4.2.1 Low cost of clinical trials and large pharmaceutical R&D base in China to drive market growth
FIGURE 36 CHINA: ADULT WEARABLE DEVICE USER BASE AND INTERNET PENETRATION (2015–2019)
FIGURE 37 CHINA: NUMBER OF OBSERVATIONAL STUDIES, 2013–2017
TABLE 97 CHINA: MACROECONOMIC INDICATORS
TABLE 98 CHINA: RWE SOLUTIONS MARKET, BY COMPONENT, 2019–2026 (USD MILLION)
TABLE 99 CHINA: RWE DATA SETS MARKET, BY TYPE, 2019–2026 (USD MILLION)
TABLE 100 CHINA: RWE SOLUTIONS MARKET, BY THERAPEUTIC AREA, 2019–2026 (USD MILLION)
TABLE 101 CHINA: RWE SOLUTIONS MARKET, BY END USER, 2019–2026 (USD MILLION)
10.4.3 REST OF ASIA PACIFIC
TABLE 102 ROAPAC: RWE SOLUTIONS MARKET, BY COMPONENT, 2019–2026 (USD MILLION)
TABLE 103 ROAPAC: RWE DATA SETS MARKET, BY TYPE, 2019–2026 (USD MILLION)
TABLE 104 ROAPAC: RWE SOLUTIONS MARKET, BY THERAPEUTIC AREA, 2019–2026 (USD MILLION)
TABLE 105 ROAPAC: RWE SOLUTIONS MARKET, BY END USER, 2019–2026 (USD MILLION)
10.5 LATIN AMERICA
10.5.1 RISING INVESTMENTS AND HEALTHCARE EXPENDITURE SHOW POTENTIAL FOR MARKET GROWTH
TABLE 106 LATIN AMERICA: RWE SOLUTIONS MARKET, BY COMPONENT, 2019–2026 (USD MILLION)
TABLE 107 LATIN AMERICA: RWE DATA SETS MARKET, BY TYPE, 2019–2026 (USD MILLION)
TABLE 108 LATIN AMERICA: RWE SOLUTIONS MARKET, BY THERAPEUTIC AREA, 2019–2026 (USD MILLION)
TABLE 109 LATIN AMERICA: RWE SOLUTIONS MARKET, BY END USER, 2019–2026 (USD MILLION)
10.6 MIDDLE EAST & AFRICA
10.6.1 GROWING AVAILABILITY OF FUNDING IN THE MIDDLE EAST INDICATES OPPORTUNITIES FOR MARKET GROWTH
TABLE 110 MIDDLES EAST & AFRICA: RWE SOLUTIONS MARKET, BY COMPONENT, 2019–2026 (USD MILLION)
TABLE 111 MIDDLES EAST & AFRICA: RWE DATA SETS MARKET, BY TYPE, 2019–2026 (USD MILLION)
TABLE 112 MIDDLE EAST & AFRICA: RWE SOLUTIONS MARKET, BY THERAPEUTIC AREA, 2019–2026 (USD MILLION)
TABLE 113 MIDDLE EAST & AFRICA: RWE SOLUTIONS MARKET, BY END USER, 2019–2026 (USD MILLION)
11 COMPETITIVE LANDSCAPE (Page No. - 142)
11.1 INTRODUCTION
FIGURE 38 KEY DEVELOPMENTS BY MAJOR PLAYERS BETWEEN JANUARY 2017 AND JULY 2021
11.2 COMPETITIVE BENCHMARKING
11.2.1 END-USER FOOTPRINT OF COMPANIES
11.2.2 PRODUCT FOOTPRINT OF COMPANIES
11.2.3 REGIONAL FOOTPRINT OF COMPANIES
11.3 REAL-WORLD EVIDENCE SOLUTIONS MARKET: R&D EXPENDITURE
FIGURE 39 R&D EXPENDITURE OF KEY PLAYERS IN THE REAL-WORLD EVIDENCE SOLUTIONS MARKET (2019 VS. 2020)
11.4 REVENUE ANALYSIS OF KEY MARKET PLAYERS
FIGURE 40 REAL-WORLD EVIDENCE SOLUTIONS MARKET: REVENUE ANALYSIS OF KEY MARKET PLAYERS (2020)
11.5 COMPETITIVE LEADERSHIP MAPPING
11.5.1 STARS
11.5.2 EMERGING LEADERS
11.5.3 PERVASIVE PLAYERS
11.5.4 EMERGING COMPANIES
FIGURE 41 COMPETITIVE LEADERSHIP MAPPING: REAL-WORLD EVIDENCE SOLUTIONS MARKET, 2020
11.6 COMPETITIVE LEADERSHIP MAPPING – START-UPS/SMES
11.6.1 PROGRESSIVE COMPANIES
11.6.2 STARTING BLOCKS
11.6.3 RESPONSIVE COMPANIES
11.6.4 DYNAMIC COMPANIES
FIGURE 42 COMPETITIVE LEADERSHIP MAPPING FOR START-UPS/SMES
11.7 MARKET RANKING ANALYSIS
FIGURE 43 REAL-WORLD EVIDENCE SOLUTIONS MARKET RANKING ANALYSIS, BY KEY PLAYER, 2020
11.8 COMPETITIVE SITUATION AND TRENDS
11.8.1 SOLUTION LAUNCHES
11.8.2 DEALS
11.8.3 OTHER DEVELOPMENTS
12 COMPANY PROFILES (Page No. - 154)
12.1 KEY PLAYERS
(Business Overview, Solutions/ Services Offered, Recent Developments, and MnM View)*
12.1.1 IQVIA
TABLE 114 IQVIA: BUSINESS OVERVIEW
FIGURE 44 IQVIA: COMPANY SNAPSHOT (2020)
12.1.2 IBM
TABLE 115 IBM CORPORATION: BUSINESS OVERVIEW
FIGURE 45 IBM CORPORATION: COMPANY SNAPSHOT (2020)
12.1.3 OPTUM (A SUBSIDIARY OF THE UNITED HEALTH GROUP, INC.)
TABLE 116 OPTUM, INC: BUSINESS OVERVIEW
FIGURE 46 OPTUM: COMPANY SNAPSHOT (2020)
12.1.4 PHARMACEUTICAL PRODUCT DEVELOPMENT, LLC
TABLE 117 PPD: BUSINESS OVERVIEW
FIGURE 47 PPD: COMPANY SNAPSHOT (2020)
12.1.5 PAREXEL INTERNATIONAL CORPORATION
TABLE 118 PAREXEL INTERNATIONAL CORPORATION: BUSINESS OVERVIEW
12.1.6 PERKINELMER
TABLE 119 PERKINELMER: BUSINESS OVERVIEW
FIGURE 48 PERKINELMER: COMPANY SNAPSHOT (2020)
12.1.7 ICON PLC
TABLE 120 ICON PLC: BUSINESS OVERVIEW
FIGURE 49 ICON PLC: COMPANY SNAPSHOT (2020)
12.1.8 ORACLE
TABLE 121 ORACLE: BUSINESS OVERVIEW
FIGURE 50 ORACLE: COMPANY SNAPSHOT (2020)
12.1.9 COGNIZANT
TABLE 122 COGNIZANT: BUSINESS OVERVIEW
FIGURE 51 COGNIZANT: COMPANY SNAPSHOT (2020)
12.1.10 SYNEOS HEALTH
TABLE 123 SYNEOS HEALTH: BUSINESS OVERVIEW
FIGURE 52 SYNEOS HEALTH: COMPANY SNAPSHOT (2020)
12.1.11 ANTHEM
TABLE 124 ANTHEM, INC.: BUSINESS OVERVIEW
FIGURE 53 ANTHEM, INC.: COMPANY SNAPSHOT (2020)
12.1.12 CLINIGEN
TABLE 125 CLINIGEN: BUSINESS OVERVIEW
FIGURE 54 CLINIGEN: COMPANY SNAPSHOT (2020)
12.1.13 SAS INSTITUTE
TABLE 126 SAS INSTITUTE: BUSINESS OVERVIEW
FIGURE 55 SAS INSTITUTE: COMPANY SNAPSHOT (2020)
12.1.14 CERNER CORPORATION
TABLE 127 CERNER CORPORATION: BUSINESS OVERVIEW
FIGURE 56 CERNER CORPORATION: COMPANY SNAPSHOT (2020)
12.1.15 CEGEDIM HEALTH DATA
TABLE 128 CEGEDIM HEALTH DATA: BUSINESS OVERVIEW
12.1.16 AETION
TABLE 129 AETION: BUSINESS OVERVIEW
12.1.17 TRINETX
TABLE 130 TRINETX: BUSINESS OVERVIEW
12.1.18 TRINITY
TABLE 131 TRINITY: BUSINESS OVERVIEW
12.1.19 VERANTOS
TABLE 132 VERANTOS: BUSINESS OVERVIEW
12.1.20 MEDPACE HOLDINGS
TABLE 133 MEDPACE HOLDINGS: BUSINESS OVERVIEW
FIGURE 57 MEDPACE HOLDINGS: COMPANY SNAPSHOT (2020)
* Business Overview, Solutions/ Services Offered, Recent Developments, and MnM View might not be captured in case of unlisted companies.
12.2 OTHER PLAYERS
12.2.1 SYAPSE
12.2.2 CIOX HEALTH
12.2.3 TEMPUS
12.2.4 FLATIRON HEALTH
12.2.5 SCIFORMIX
13 APPENDIX (Page No. - 208)
13.1 DISCUSSION GUIDE
13.2 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
13.3 AVAILABLE CUSTOMIZATIONS
13.4 RELATED REPORTS
13.5 AUTHOR DETAILS
This study involved four major activities for 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.
Secondary Research
In the secondary research process, various secondary sources such as D&B Hoovers, Bloomberg Business, and Factiva have been referred to identify and collect information for this study. These secondary sources include annual reports, press releases and investor presentations of companies, white papers, certified publications, articles by recognized authors, gold-standard and silver-standard websites, regulatory bodies, and databases.
Primary Research
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. Primary sources from the supply side include industry experts such as CEOs, vice presidents, marketing and sales directors, technology and innovation directors, and related key executives from various key companies operating in the real world evidence solutions market. Primary sources from the demand side include experts from pharma and biopharma companies, experts from food industry and research centers. Primary research was conducted to validate the market segmentation, identify key players in the market, and gather insights on the key industry trends and key market dynamics, such as market drivers, restraints, challenges, and opportunities.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
The total size of the real world evidence solutions market was arrived at after data triangulation from two different approaches, as mentioned below.
Approach to calculate the revenue of different players in the real world evidence solutions market
The size of the real world evidence solutions market was obtained from annual reports, SEC filings, online publications, and extensive primary interviews. A percentage split was applied to arrive at the size of market segments. Further splits were applied to arrive at the size for each sub-segment. These percentage splits were validated by primary participants. The country-level market sizes obtained from the annual reports, SEC filings, online publications, and extensive primary interviews were added up to reach the total market size for regions. By adding up the market sizes for all the regions, the global population health management market was derived.
Approach to derive the market size and estimate market growth
The market size and market growth were estimated through primary interviews on a regional and global level. All responses were collated, and a weighted average was taken to derive a probabilistic estimate of the market size and growth rate.
Data Triangulation
After arriving at the overall market size-using the market size estimation processes explained above-the market was split into several segments and sub-segments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and sub-segment, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides.
Objectives of the Study
- To define, describe, and forecast the global RWE solutions market based on component, therapeutic area, end user, and region
- To provide detailed information regarding the major factors influencing the market growth (drivers, restraints, opportunities, and challenges)
- To strategically analyze micromarkets1 with respect to the individual growth trends, future prospects, and contributions to the overall market
- To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
- To forecast the size of the market segments with respect to five main regions—North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa (along with the major countries in these regions)
- To profile the key market players and comprehensively analyze their market shares and core competencies2 in the RWE solutions market
- To track and analyze competitive developments such as business expansions, partnerships, agreements, and collaborations; mergers & acquisitions; and new product/service launches in the global RWE solutions market
Available Customizations
With the given market data, MarketsandMarkets offers customizations as per your company’s specific needs. The following customization options are available for the report:
Product Analysis
- Product matrix, which gives a detailed comparison of the product portfolios of the top companies
Geographic Analysis
- Further breakdown of the RoAPAC market into New Zealand, Hong Kong, Singapore, and other countries
- Further breakdown of the RoE market into Russia, the Netherlands, Nordic countries, and other countries
- Further breakdown of the RoLA market into Brazil, Mexico and other countries
Company Information
- Detailed analysis and profiling of additional market players (up to five)
- Triangulate with your Own Data
- Get Data as per your Format and Definition
- Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
- Any level of Personalization
- What are the Known and Unknown Adjacencies Impacting the Real World Evidence/RWE Solutions Market
- What will your New Revenue Sources be?
- Who will be your Top Customer; what will make them switch?
- Defend your Market Share or Win Competitors
- Get a Scorecard for Target Partners
Growth opportunities and latent adjacency in Real World Evidence/RWE Solutions Market