RWE helps and provides a means for demonstrating value, ranging from confirming randomized trial benefits in real-world populations to a fuller characterization of resource impacts. TABLE 186 COGNIZANT TECHNOLOGY SOLUTIONS CORPORATION: BUSINESS OVERVIEW - 46) Real-world data (RWD) gathered from various sources associated with outcomes in a heterogeneous patient population in real-world settings. As a Premium user you get access to background information and details about the release of this statistic. TABLE 109 SPAIN: RWE SOLUTIONS DATA SETS MARKET, BY TYPE, 20202027 (USD MILLION) 1.4 LIMITATIONS FDA Announces New Funding Opportunity for Using Real-World Data to Generate Real-World Evidence in Regulatory Decision-Making, FDA Issues Draft Guidances on Real-World Evidence, Prepares to Publish More in Future, FDA Clinical Investigator Training Course, Real-World Evidence- Dec 2021, FDA Approves New Use of Transplant Drug Based on Real-World Evidence, FDA Announces 4 Grant Awards for Projects Exploring the Use of Real-World Data to Generate Real-World Evidence in Regulatory Decision-Making, CDER Small Business and Industry Assistance Webinar: Framework for FDAs Real-World Evidence Program - Mar 15, 2019, CDERMedicalPolicy-RealWorldEvidence@fda.hhs.gov. The third table is a tabulation of the CIA World Factbook GDP (PPP) data update of 2019. Furthermore, post-pandemic, therapeutic developments for COVID-19 infection saw a significant boost. In 2021, the real-world datasets segment accounted for the larger share of the overall real-world evidence solutions market. Forecasts show that the market will grow from $14.9 billion to $17.6 billion in 2024. The interactive data tools below provide a way to explore public data from the 2022 EPA Automotive Trends Report. 6.4.4 THREAT OF SUBSTITUTES FIGURE 1 RESEARCH DESIGN In order to prove value, companies need strong evidence of lifecycle management capabilities. Chart. TABLE 18 DISPARATE DATA SETS MARKET, BY COUNTRY, 20202027 (USD MILLION) In, IDC, und Statista. 10.3.1 GERMANY 7.3.1.4.1 Increasing need to access opinions on diseases and treatments across social media to drive growth We, Yahoo, are part of the Yahoo family of brands. An assessment of the competitive landscape and market shares for major companies. 4.4 REGIONAL MIX: REAL WORLD EVIDENCE SOLUTIONS MARKET (20222027) TABLE 93 FRANCE: MACROECONOMIC INDICATORS RWE is regularly utilized in the drug development & approval process to inform aspects of drug development, such as the natural history and epidemiology of a disease, and provide data on treatment pathways and comparator interventions in clinical practice. Then you can access your favorite statistics via the star in the header. Poor data quality costs the US economy up to $3.1 trillion yearly. 12.1.15 PERKINELMER INC. TABLE 128 JAPAN: REAL WORLD EVIDENCE SOLUTIONS MARKET, BY COMPONENT, 20202027 (USD MILLION) 6.5.1 AVERAGE SELLING PRICE For instance, in May 2020, PAREXEL International Corporation (U.S.) launched the #KeepingPatientsFirst integrated real-world evidence (RWE) research platform focused on aggregating, analyzing, and predicting real-world COVID-19-related disease progression and outcomes using state-of-the-art machine learning, artificial intelligence, and analytics. Global top 2000 strategist rely on us for their growth strategies. 11.8.1 PROGRESSIVE COMPANIES The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely. TABLE 110 SPAIN: DISPARATE DATA SETS MARKET, BY TYPE, 20202027 (USD MILLION) TABLE 174 ICON PLC. TABLE 45 REAL WORLD EVIDENCE SOLUTIONS MARKET, BY END USER, 20202027 (USD MILLION) 10.4.3 INDIA This research study involved the use of comprehensive secondary sources; directories; databases such as Bloomberg Business, Factiva, and Dun & Bradstreet; white papers; annual reports; companies house documents; investor presentations; and SEC filings of companies. 6.1.2 SOCIAL MEDIA-SOURCED RWE These marketplaces and exchanges provide centralized availability and access (to X analytics and other unique data sets, for example) that create economies of scale to reduce costs for third-party data. 6.8.3 JURISDICTION ANALYSIS: TOP APPLICANTS (COUNTRIES) FOR PATENTS IN THE REAL WORLD EVIDENCE SOLUTIONS MARKET 12.2.5 FLATIRON HEALTH, 13 APPENDIX (Page No. FIGURE 26 INTERNAL VS. OUTSOURCED RWE ANALYTICS APPROACH Because of these benefits, the use of real-world evidence solutions is increasing in drug and medical device R&D activities. Further understanding of the efficacy and safety of medications for diabetes and certain other diseases for which diabetes can be an underlying causative factor is necessary. 6.8.2 JURISDICTION AND TOP APPLICANT ANALYSIS Find out more about how we use your information in our privacy policy and cookie policy. At Pitt . What are the benefits of the emerging trends in the global RWE Solutions Market? TABLE 168 FDA APPROVALS/ENHANCEMENTS, 20192022 It also helps generate broader scientific evidence and commercial insights, valuable for the pharmaceutical industry. 5.2.1.2 Shift from volume- to value-based care TABLE 61 US: DISPARATE DATA SETS MARKET, BY TYPE, 20202027 (USD MILLION) 13.4 RELATED REPORTS $6.36 billion will be spent in the consumer segment. The size of the professionally managed real estate market also continued to grow in 2021, rising to USD 11.4 trillion from USD 10.5 trillion in 2020. View listing photos, review sales history, and use our detailed real estate filters to find the perfect place. REDDING, Calif., March 10, 2022 /PRNewswire/ -- According to a new market research report titled "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) - Global Forecast to 2028", published by Meticulous Research, the Real-World Evidence (RWE) solutions market is expected to grow at a CAGR of 11.8% from 2021 to 2028 to reach $4.4 billion by 2028. 7.3.1.2.1 Growing need to understand the economic benefits of drug reimbursement by payers to drive growth 6.5.2.2 Europe In December 2021, TriNetX LLC announced the launch of Diversity Lens, an analytic feature that enables healthcare and life sciences organizations to make use of real-world data to comprehend and address racial and ethnic differences in clinical trial patient participation. 4.3 RWE SOLUTIONS MARKET: GEOGRAPHIC GROWTH OPPORTUNITIES Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. TABLE 94 FRANCE: REAL WORLD EVIDENCE SOLUTIONS MARKET, BY COMPONENT, 20202027 (USD MILLION) 9.4 HEALTHCARE PROVIDERS 13.3 CUSTOMIZATION OPTIONS 11.8.3 RESPONSIVE COMPANIES [Online]. 1.2.1 INCLUSIONS AND EXCLUSIONS TABLE 116 REST OF EUROPE: DISPARATE DATA SETS MARKET, BY TYPE, 20202027 (USD MILLION) 7.2.1 RISING NEED TO CONVERT DATA INTO ACTIONABLE EVIDENCE TO DRIVE DEMAND TABLE 47 RWE SOLUTIONS MARKET FOR HEALTHCARE PAYERS, BY COUNTRY, 20202027 (USD MILLION) 8.2.3 NEUROLOGY Available: https://www.statista.com/statistics/871513/worldwide-data-created/, Volume of data/information created, captured, copied, and consumed worldwide from 2010 to 2020, with forecasts from 2021 to 2025, Available to download in PNG, PDF, XLS format, Global IT spending forecast 2012-2023, by segment, IT spending year-over-year growth worldwide 2016-2023, by segment, Worldwide storage revenue growth 2017-2027, Worldwide storage spending per employee 2016-2028, Information archiving solutions market size worldwide 2014-2026, Amount of data created, consumed, and stored 2010-2020, with forecasts to 2025, Worldwide data storage unit revenue 2014-2027, Worldwide data storage unit revenue growth 2015-2027, Sales volume of data storage units worldwide 2014-2027, Data storage units volume growth worldwide 2015-2027, Per unit price of data storage units worldwide 2014-2027, DRAM market revenue worldwide 2010-2022, by quarter, NAND flash market revenue worldwide 2010-2022, by quarter, Market revenue from external enterprise storage systems 2009-2021, by quarter, NAND flash manufacturers revenue worldwide 2010-2022, by quarter, Enterprise external storage systems factory revenue worldwide 2009-2021, by quarter, Enterprise external storage systems vendor market share 2008-2021, by quarter, Spending on cloud and data centers 2009-2021, by segment, Share of IT infrastructure spending worldwide 2014-2024, by deployment type, Worldwide enterprise cloud strategy 2017-2022, Global unstructured data storage repositories used 2021, Global cloud storage security issues 2020-2021, by organization size, Global cloud identity and access management issues 2020-2021, by organization size, Smart building data volume collected globally 2010-2020, Data economy's impact on GDP in EU and UK 2018-2025, Number of data users in the EU and UK 2016-2020 and 2025, Data companies' revenues in the EU and UK 2016-2020 and 2025, Internet data consumption in Asia Pacific 2015-2020 by selected countries, Total Enterprise datasphere size by industry worldwide 2018, Internet data consumption in Indonesia 2013-2020, Internet data consumption in China 2013-2020, Value of data economy in EU and UK 2016-2020 and 2025, Average data consumption per user in one quarter in Indonesia 2019, Data as a share of total mobile service revenue in China 2004-2014, Mobile data as share of total telecom revenue in the United Kingdom (UK) 2004-2014, Monthly mobile data consumption volume by SIM card in France 2008-2017, All-flash array price in Taiwan Q3 2016-Q3 2018, Visual data room market value worldwide 2018-2027, Distribution of smartphone contracts with major providers Japan 2020, by data volume, Number of data professionals in the U.S. 2016-2020, Number of data professionals in the EU and UK 2016-2020 and 2025, Distribution of budget SIM cards for smartphones Japan 2020, by data volume, Volume of data/information created, captured, copied, and consumed worldwide from 2010 to 2020, with forecasts from 2021 to 2025 (in zettabytes), Find your information in our database containing over 20,000 reports. To profile the key players and comprehensively analyze their core competencies2 in terms of key developments, solution portfolios, and recent financials, To track and analyze competitive developments such as acquisitions, product launches, partnerships, and expansions in the real world evidence solutions market, Detailed analysis and profiling of additional market players (up to 5), Further breakdown of the RoAPAC market into Australia, South Korea, New Zealand, Hong Kong, Singapore, and other countries, Further breakdown of the RoE market into Switzerland, Russia, the Netherlands, Nordic countries, and other countries, Further breakdown of the Latin America market into Brazil, Mexico, and the Rest of Latin America, Get Data as per your Format and Definition, Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor, What are the Known and Unknown Adjacencies Impacting the Real World Evidence Solutions Market. TABLE 190 MEDPACE HOLDINGS INC.: BUSINESS OVERVIEW Hence, the rising emphasis on using comprehensive RWE data is propelling the markets growth.Market Restraining FactorsMedical professionals and researchers reluctance to depend on real-world studiesNon-randomized observational studies have historically not been seen as appropriate for evaluating novel medical interventions or treatments due to methodological and research design concerns, such as the possibility of confounding and bias. Science and Research Special Topics, Recalls, Market Withdrawals and Safety Alerts, Considerations for the Design and Conduct of Externally Controlled Trials for Drug and Biological Products, Submitting Documents Using Real-World Data and Real-World Evidence to FDA for Drug and Biological Products, Framework for FDAs Real-World Evidence Program, Assessing Electronic Health Records and Medical Claims Data To Support Regulatory Decision-Making for Drug and Biological Products, Assessing Registries to Support Regulatory Decision-Making for Drug and Biological Products, Considerations for the Use of Real-World Data and Real-World Evidence To Support Regulatory Decision-Making for Drug and Biological Products, Data Standards for Drug and Biological Product Submissions Containing Real-World Data, Submitting Documents Utilizing Real-World Data and Real-World Evidence to FDA for Drugs and Biologics, Use of Electronic Health Records in Clinical Investigations, Use of Real-World Evidence to Support Regulatory Decision-Making for Medical Devices. TABLE 22 CLAIMS DISPARATE DATA SETS MARKET, BY COUNTRY, 20202027 (USD MILLION) FIGURE 11 DATA SETS MARKET, BY TYPE, 2022 VS. 2027 (USD MILLION) 8.2.2 CARDIOVASCULAR DISEASE 11.9 COMPETITIVE SCENARIO - 257) Medical product developers are using RWD and RWE to support clinical trial designs (e.g., large simple trials, pragmatic clinical trials) and observational studies to generate innovative, new treatment approaches. TABLE 29 REGISTRY-BASED DISPARATE DATA SETS MARKET, BY COUNTRY, 20202027 (USD MILLION) . With this acquisition, the company aimed to strengthen its software portfolio through automation, data, and AI in order to address the full spectrum of observability.Nov-2021: PerkinElmer unveiled PKeye, a workflow monitor platform for remotely managing and monitoring workflows. Annual size of real time data in the. 6.5.2.1 North America Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. TABLE 4 INDICATIVE LIST OF NATIONAL DATABASES IN DEVELOPED COUNTRIES 5.2.1 DRIVERS RWE offers solutions to these issues as well as the ability to examine the effects of medications over a longer time frame. The global data monetization market size was valued at USD 1.30 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 24.1% from 2020 to 2027. RWD can come from a number of sources, for. from 8 AM - 9 PM ET. Through this acquisition, the company aimed at adding new capabilities to its decentralized clinical trial solutions. The global big data market in terms of revenue was estimated to be worth $162.6 billion in 2021 and is poised to reach $273.4 billion by 2026, growing at a CAGR of 11.0% from 2021 to 2026. TABLE 131 JAPAN: REAL WORLD EVIDENCE SOLUTIONS MARKET, BY APPLICATION, 20202027 (USD MILLION) Real world data (RWD) plays an increasingly important role in clinical research and health care decision making; the 2016 US 21st Century Cures Act places additional emphasis on the use of these types of data to support regulatory decision making. TABLE 181 SAS INSTITUTE: BUSINESS OVERVIEW Sign up today for your free Reader Account. A breakdown of the primary respondents is provided below: Note 1: C-level primaries include CEOs, COOs, CTOs, and VPs. $12 billion - the worldwide market size of AR/VR in 2020. Purpose: There is a need to develop hybrid trial methodology combining the best parts of traditional randomized controlled trials (RCTs) and observational study designs to produce real-world evidence (RWE) that provides adequate scientific evidence for regulatory decision-making. The healthcare companies segment witnessed the maximum revenue share in the real world evidence solutions market in 2021. 12.1.6 PAREXEL INTERNATIONAL CORPORATION 8.5 MARKET ACCESS AND REIMBURSEMENT/COVERAGE DECISION MAKING 8.2.2.1 High prevalence of CVD to drive growth The figures from 2021 to 2025 were calculated by Statista based on the 2020 forecast figure and the five-year compound annual growth rate (CAGR) of 23 percent provided by the source. The U.S. labor market still shows signs of resilience despite layoffs and slowdown in hiring. It was also used to obtain important information about the key players, market classification and segmentation according to industry trends to the bottom-most level, and key developments related to market and technology perspectives. FIGURE 10 REAL WORLD EVIDENCE SOLUTIONS MARKET, BY COMPONENT, 2022 VS. 2027 (USD MILLION) (IDC, 2020) $1.9 billion will be spent in the distribution and services segment. FIGURE 8 CAGR PROJECTIONS: OVERALL RWE SOLUTIONS MARKET Based on stated demand for carbon credits, demand projections from experts, and the volume of negative emissions needed to reduce emissions in line with the 1.5-degree warming goal, annual global demand for carbon credits could reach up to 1.5 to 2.0 gigatons of carbon dioxide by 2030 and up to 7 to 13 gigatons by 2050.The market size in 2030 . Many medical professionals and pharmaceutical companies have used their resources to stop the COVID-19 pandemics spread and create efficient drugs and vaccinations. 7.2 SERVICES 6.7.2 EUROPE The process of drug development requires evidence on population size, clinical disease progression, and adherence to similar therapies that can support decision-making. Who will be your Top Customer; what will make them switch? TABLE 33 REAL WORLD EVIDENCE SOLUTIONS MARKET IN DRUG DEVELOPMENT AND APPROVALS, BY TYPE 20202027 (USD MILLION) 2023 MarketsandMarkets Research Private Ltd. All rights reserved, Published Date: Nov2022 | Report Code: HIT 6444, Communication and Connectivity Technology, Coatings Adhesives Sealants and Elastomers, Automotive Electronics and Electrical Equipment, Construction Technology and Sustainability, Get market data points, ranging from trend analyses to market data, Artificial Intelligence in Healthcare Market, Contract Research Organization (CRO) Services Market, Analytical and Scientific Instrumentation, Rise in the geriatric population and the subsequent increase in the prevalence of chronic diseases, Potential of RWE in reducing drug development costs and expediting the drug development process, Increased R&D spending for the development of new pharmaceutical products and medical devices, Support from regulatory bodies for the use of RWE solutions, Market Access Reimbursement/Coverage Decision Making, Pharmaceutical & Medical Device Companies. TABLE 102 ITALY: RWE SOLUTIONS DATA SETS MARKET, BY TYPE, 20202027 (USD MILLION) TOP-LEVEL FINDINGS. This mainly affected the amount of real-world data generated globally. The increasing prevalence of chronic diseases, stringent regulations for drug approvals, implementation of the 21st Century Cures Act, availability of electronic datasets, advanced healthcare industry, and rising big data in healthcare are the major factors responsible for the largest market share of North America. February 22, 2023 08:06 ET 2.1.1.1 Key data from secondary sources As a Premium user you get access to the detailed source references and background information about this statistic. TABLE 185 PERKINELMER INC.: BUSINESS OVERVIEW TABLE 146 INDIA: RWE SOLUTIONS IN DRUG DEVELOPMENT AND APPROVALS MARKET, BY TYPE, 20202027 (USD MILLION) As a result, the demand for RWE services is higher in comparison to RWE data sets. You can only download this statistic as a Premium user. 9.3.1 INCREASED FOCUS ON OUTCOME-BASED PAYMENT MODELS TO DRIVE DEMAND Real-World Evidence (RWE) Solutions Market by Component [Datasets (Clinical, Claims, Pharmacy, Integrated), Services], Application (Market Access, Oncology, Neurology, Post Market. 7500+ companies worldwide approach us every year for their revenue growth initiatives. RWE data is needed for new drugs to successfully pass through clinical phases. : COMPANY SNAPSHOT (2021) TABLE 9 REAL WORLD EVIDENCE SOLUTIONS MARKET: DETAILED LIST OF CONFERENCES AND EVENTS Even a study that is robust, well-planned, and non-randomized would be seen as lower-quality evidence in comparison to an RCT that is poorly conceived. This has reduced the potential value of the information produced, thus reducing the incentive to generate it. 11.9.3 OTHER DEVELOPMENTS 10.5.1 INCREASED HEALTHCARE EXPENDITURE TO SUPPORT MARKET GROWTH Pharmaceutical businesses, as well as health insurance payers, research RWE in order to comprehend patient pathways, provide appropriate care for the right people, and reduce their financial risk by funding patient-effective drugs.The World Ageing Population report estimates that 703 million individuals worldwide were 65 years of age or older in 2019, and that figure is projected to rise to 1.5 billion by 2050. The summary data allow users to explore the trends in fuel economy, CO 2, and vehicle attributes for model years 1975-2022. The primary sources from the supply side include CEOs, vice presidents, managing directors, marketing heads and sales directors, marketing managers, product managers and related key executives from various key companies and organizations operating in the real world evidence solutions market. NAND flash manufacturers revenue share worldwide 2010-2022, by quarter, DRAM manufacturers revenue share worldwide 2011-2022, by quarter, Number of data centers worldwide 2022, by country, DRAM manufacturers revenue worldwide 2011-2022, by quarter. 8.2 DRUG DEVELOPMENT AND APPROVALS Coming Soon listings are homes that will soon be on the market. TABLE 163 MIDDLES EAST & AFRICA: RWE SOLUTIONS MARKET, BY APPLICATION, 20202027 (USD MILLION) 10.4.2 CHINA 2.7.1 METHODOLOGY-RELATED LIMITATIONS, 3 EXECUTIVE SUMMARY (Page No. 6.4.3 BARGAINING POWER OF BUYERS 10.4 ASIA PACIFIC Despite these impediments, engineers worldwide are embracing innovative solutions . As a result, an opportunity for an end-to-end approach to leverage the data, evidence, and knowledge assets of a life sciences organisation has been created, which is helping to break down the conventional silos and is enabling insight-driven decision-making from the phase of product R&D to its commercialization. TABLE 160 MIDDLES EAST & AFRICA: RWE SOLUTIONS MARKET, BY COMPONENT, 20202027 (USD MILLION) The healthcare ecosystem is changing, and there is increased scrutiny on healthcare costs as stakeholders in the healthcare industry seek new alternatives to deal with the unsustainable cost burden and relatively poor return on investment. TABLE 35 DRUG DEVELOPMENT AND APPROVALS MARKET IN ONCOLOGY, BY COUNTRY, 20202027 (USD MILLION) 5.2.4.1 Lack of universally accepted methodology standards and data processing infrastructure 6.9 KEY CONFERENCES AND EVENTS (2022-2023) After the completion of each approach, the weighted average of these approaches was taken based on the level of assumptions used in each approach. Click Manage settings for more information and to manage your choices. TABLE 64 US: REAL WORLD EVIDENCE SOLUTIONS MARKET, BY END USER, 20202027 (USD MILLION) With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. Key companies profiled in the report include IBM Corporation, Oracle Corporation, Medpace Holdings, Inc., IQVIA Holdings, Inc., ICON plc, PerkinElmer, Inc., Parexel International Corporation (Phoenix Parentco, Inc.), PPD, Inc. (Thermo Fisher Scientific, Inc.), UnitedHealth Group, Inc. (Optum, Inc.), and Syneos Health, Inc.Strategies Deployed in Real World Evidence Solutions MarketDec-2022: IBM signed an agreement to acquire Octo, a digital transformation service provider exclusively serving the U.S. federal government. You need at least a Starter Account to use this feature. The market size for data analytics and business intelligence software applications is projected to grow over the next few years. EMERGING MARKETS TABLE 60 US: RWE SOLUTIONS DATA SETS MARKET, BY TYPE, 20202027 (USD MILLION) 12.1.1 IQVIA HOLDINGS INC. TABLE 145 INDIA: RWE SOLUTIONS MARKET, BY APPLICATION, 20202027 (USD MILLION) 10.2.2 CANADA IDC, & Statista. TABLE 66 CANADA: RWE SOLUTIONS MARKET, BY COMPONENT, 20202027 (USD MILLION) The Real-world Evidence (RWE) Solutions Market is expected to reach $4.9 billion by 2029, at a CAGR of 11.8% from 2022 to 2029. statistic alerts) please log in with your personal account. FDA uses RWD and RWE to monitor postmarket safety and adverse events and to make regulatory decisions. 2.1 RESEARCH DATA This data holds potential to allow us to better design and conduct clinical trials and studiesin the health care setting to answer questions previously though infeasible. Real-World Evidence (RWE) is the clinicalevidence about the usage and potential benefits or risks of a medical product derived from analysis of RWD. 2.1.2.2 Insights from primary experts This is because pharmaceuticals and biotech companies are becoming more aware of the potential value of RWE in life-cycle management and drug development, as well as how it can lower the cost of clinical trials and boost innovation efficiency.COVID-19 Impact AnalysisThe infectious coronavirus could economically impact most industries, including the pharmaceutical sector. 10.3.5 SPAIN 6.5 PRICING ANALYSIS TABLE 139 CHINA: RWE SOLUTIONS IN DRUG DEVELOPMENT AND APPROVALS MARKET, BY TYPE, 20202027 (USD MILLION) The following customization options are available for the report: Which are the different countries covered across the regions of the Global RWE Solutions Market? 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