The global Real-World Evidence (RWE) Solutions market size is forecasted to reach a CAGR of 14.6% from 2021 to 2028.
Real-World Data (RWD) is data acquired from many sources that is relevant to patient health status, health care delivery, and medical behaviour in ordinary clinical practise. Electronic health records (EHR), medical claim data, medical databases, and patient information acquired from various devices are all data sources. RWE refers to the study of clinical research findings generated by RWD relating to the usage of medicinal items and prospective advantages or dangers. These are usually performed during the routine clinical practice. The potential benefits or risks of a medicinal products which is deduced by the analysis of collected evidence. When compared to RCTs, RWE performs an essential supplementary function by providing much needed knowledge from real-world practises across the drug's life cycle to help regulatory decision-making.
Migraine is one of the most common disorders in the world, with an estimated 12% of Europeans suffering from it. Real-world evidence studies provide fresh, distinct, and relevant insights into the unmet requirements of migraine patients, assisting in the creation of solutions to satisfy those needs and enhance care.
As per real world evidence solutions market report analysis, with a higher number of geriatric population and the recent shift from a volume- to value-based care are some of the factors that have supported long-term expansion for Real World Evidence (RWE) Solutions Market. Other important drivers driving the expansion of this industry are the change from volume- to value-based care and delays in medication development (and the associated increase in development costs). Support from regulatory agencies for the use of real-world evidence (RWE) solutions, as well as an increase in R&D expenditure, are expected to drive market growth. However, the unwillingness to rely on real-world research, as well as the absence of globally acknowledged scientific standards for data collecting, are limiting the market's growth.
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It also activated business continuity strategies, such as remote delivery capabilities in technology and analytics, remote monitoring and virtual trials in R&D solutions, and virtual commercial engagement with clients when possible. Organizations such as the National Patient-Centered Clinical Research Network (PCORnet), the National Institutes of Health (NIH) Collaboratory, and the FDA's Sentinel Initiative have worked together to improve clinical trial efficiency and medication safety monitoring using RWE data.
COVID-19 had a positive effect on the market, as it became the most commonly used and influential technology to deal with the pandemic as it provides a better alternative and understanding of the pandemic. The onset of this pandemic has put pharma-biopharma enterprises in various nations under tremendous financial duress. RWE technologies have proven to be highly useful in this area, as they enable industrial and academic researchers to monitor patients utilising digitally linked platforms while also assisting in the organisation and evaluation of clinical data for regulatory filings.
According to the most recent survey on GlobalData's Pharmaceutical Technology website, RWE is poised to become the most impactful developing technology to aid in the battle against the COVID-19 epidemic. More than one-third of the respondents in this survey, which was completed by 935 of its readers in April 2021, believed that RWE will have the largest effect on the administration of COVID-19. The most important developing developments, according to a smaller percentage of readers, are telemedicine (28%) and artificial intelligence (20%). Despite the fact that developing technologies like telemedicine have been around for decades, most healthcare systems still rely largely on in-person contact between patients and providers.
North America is the most rapidly growing market and offers a huge opportunity for the industry, whose growth is driven by the increased R&D in the sector and the favourable governmental policies.
Insights are provided for each region and major countries within the regions
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Report Feature |
Descriptions |
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Growth Rate |
CAGR of 14.6% during the forecasting period, 2021-2028 |
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Historical Data |
2018-2019 |
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Forecast Years |
2021-2028 |
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Base Year |
2020 |
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Units Considered |
Revenue in USD billion and CAGR from 2021 to 2028 |
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Report Segmentation |
Component, Therapeutic Area and End User and region. |
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Report Attribute |
Market Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company Profiling |
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Regional Level Scope |
North America, Europe, Asia-Pacific, South America, and Middle East and Africa |
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Country Level Scope |
U.S., Japan, Germany, U.K., China, India, Brazil, UAE, South Africa (50+ Countries Across the Globe) |
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Companies Profiled |
IQVIA , IBM Corporation , ICON plc. , PAREXEL International Corporation , PPD, LLC , Optum, Inc. , Cognizant Technology Solutions Corporation , Oracle Corporation , SAS Institute Inc. , Syneos Health, Inc. , Anthem, Inc. , Clinigen Group plc. , Medpace Holdings Inc. and Flatiron Health, Inc. |
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Available Customization |
In addition to the market data for Real World Evidence (RWE) Solutions Market, Delvens offers client-centric report and customized according to the company’s specific demand and requirement. |
Real World Evidence (RWE) Solutions Market is segmented into Component, Therapeutic Area, End User and Region.
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