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. ReportLinker 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. By clicking Accept all you agree that Yahoo and our partners will process your personal information, and use technologies such as cookies, to display personalised ads and content, for ad and content measurement, audience insights, and product development. 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. TABLE 48 RWE SOLUTIONS MARKET FOR HEALTHCARE PROVIDERS, BY COUNTRY, 20202027 (USD MILLION) Learn more about how Statista can support your business. TABLE 154 LATIN AMERICA: REAL WORLD EVIDENCE SOLUTIONS MARKET, BY COMPONENT, 20202027 (USD MILLION) An assessment of the competitive landscape and market shares for major companies. TABLE 8 LIST OF PATENTS IN THE RWE SOLUTIONS MARKET, 20192022 In September 2021, U.S. FDA released a guidance document for accessing EHR and medical claims data using real-world data to support regulatory decision-making for drug and biological products would promote the adoption of RWE even further. 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. Use Ask Statista Research Service. Sign up today for your free Reader Account. Real-world data (RWD) is defined as "the data relating to patient health status and/or the delivery of health care routinely collected from a variety of sources." 1 Sources of RWD include, but are not limited to: Electronic health records (EHRs); Claims and billing activity; Product and disease registries; TABLE 73 EUROPE: RWE SOLUTIONS MARKET, BY COMPONENT, 20202027 (USD MILLION) Thus, aiding in the dismantling of traditional silos and enabling insight-driven decision-making from the product R&D stage to its commercialization. Real-world evidence (RWE) is clinical evidence gathered via RWD analysis on the use and potential benefits or risks of a medical product. TABLE 42 REAL WORLD EVIDENCE SOLUTIONS MARKET IN POST-MARKET SURVEILLANCE, BY COUNTRY, 20202027 (USD MILLION) TABLE 57 NORTH AMERICA: RWE SOLUTIONS MARKET, BY END USER, 20202027 (USD MILLION) 13.2 KNOWLEDGE STORE: MARKETSANDMARKETS SUBSCRIPTION PORTAL TABLE 157 LATIN AMERICA: RWE SOLUTIONS MARKET, BY APPLICATION, 20202027 (USD MILLION) - 181) Pharmaceutical companies have been looking for new ways to provide the best treatments for patients. RWE offers solutions to these issues as well as the ability to examine the effects of medications over a longer time frame. $12 billion - the worldwide market size of AR/VR in 2020. These factors are preventing the Real-World Evidence Solutions Market from expanding.Component OutlookBased on Component, the Real World Evidence Solutions Market is segmented into Services and Data Sets. FIGURE 3 BREAKDOWN OF PRIMARY INTERVIEWS: SUPPLY-SIDE AND DEMAND-SIDE PARTICIPANTS Many medical professionals and pharmaceutical companies have used their resources to stop the COVID-19 pandemics spread and create efficient drugs and vaccinations. TABLE 38 DRUG DEVELOPMENT AND APPROVALS MARKET IN NEUROLOGY, BY COUNTRY, 20202027 (USD MILLION) TABLE 95 FRANCE: RWE SOLUTIONS DATA SETS MARKET, BY TYPE, 20202027 (USD MILLION) 12.1.20 MEDPACE HOLDINGS INC. 8.2.5 OTHER THERAPEUTIC AREAS 12.1.17 CLINIGEN 10.2.2.1 Growing number of clinical trials in Canada to drive market growth 6.10.2 BUYING CRITERIA RWE experts communicate and collaborate with the subject matter experts of the pharmaceutical and medical device companies to offer services to develop intelligent RWE strategies (consulting services) and use the analytical capabilities to provide meaningful statistical insights. TABLE 168 FDA APPROVALS/ENHANCEMENTS, 20192022 TABLE 105 ITALY: RWE SOLUTIONS IN DRUG DEVELOPMENT AND APPROVALS MARKET, BY TYPE, 20202027 (USD MILLION) The summary data allow users to explore the trends in fuel economy, CO 2, and vehicle attributes for model years 1975-2022. TABLE 152 REST OF ASIA PACIFIC: RWE SOLUTIONS IN DRUG DEVELOPMENT AND APPROVALS MARKET, BY TYPE, 20202027 (USD MILLION) 10.4.3.1 Growing adoption of outcomes-based research among pharmaceutical and medical device manufacturers in India to drive market growth This statistic is not included in your account. The market is expected to expand at a CAGR of 8.2% from 2023 to 2030. 2.5 ASSUMPTIONS FOR THE STUDY TABLE 13 RWE SERVICES OFFERED BY KEY MARKET PLAYERS EMERGING MARKETS 5.2.1.3 Potential of RWE in reducing drug development costs and expediting the drug development process Additionally, countries such as Japan and China in the region have a well-established clinical trial infrastructure, a strong medical workforce, robust healthcare capabilities, and stringent quality standards, which are supporting market growth in Asia Pacific. - 113) TABLE 37 DRUG DEVELOPMENT AND APPROVALS MARKET IN CARDIOVASCULAR DISEASE, BY COUNTRY, 20202027 (USD MILLION) Real-world evidence solutions can provide valuable insights to understand better, monitor, and prepare for the challenges caused by the COVID-19 pandemic. TABLE 6 NORTH AMERICA: HEALTHCARE EXPENDITURE, BY COUNTRY TABLE 141 INDIA: MACROECONOMIC INDICATORS TABLE 19 CLINICAL SETTINGS DATA SETS OFFERED BY KEY MARKET PLAYERS (June 7, 2021). To meet the demands for both drug discovery and development, pharmaceutical and biopharmaceutical companies are opting for fully integrated or functional outsourcing services, from the early development stage to the late-stage development phase. FIGURE 4 BREAKDOWN OF PRIMARY INTERVIEWS (SUPPLY-SIDE): BY COMPANY TYPE, DESIGNATION, AND REGION 10.1 INTRODUCTION The top five markets in 2020 were: United States ($15.1 billion), China ($6.3 billion), Germany ($5.7 billion), Japan ($4.2 billion) and France ($2.7 billion). The world's patient population is experiencing a rapidly increasing frequency of drug shortages whereby patients cannot get access to the medicines they critically need. statistic alerts) please log in with your personal account. . TABLE 178 LABCORP HOLDINGS: BUSINESS OVERVIEW Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. 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. 5.2.4.1 Lack of universally accepted methodology standards and data processing infrastructure 7.2 SERVICES 6.1.1 EMERGING ROLE OF WEARABLE DEVICES FIGURE 47 IBM CORPORATION: COMPANY SNAPSHOT (2021) 12.1.7 THERMO FISHER SCIENTIFIC INC. TABLE 3 MARKET DYNAMICS: IMPACT ANALYSIS However, after initial shrinkage, real-world evidence (RWE) is set to become the most influential emerging technology to fight against the COVID-19 outbreak. 11.7.1 STARS Real-world evidence (RWE) solutions vendors may have more opportunities to increase their investments during the medication development cycle due to the growing demand for comprehensive evidence services all throughout the product lifetime.Application OutlookBased on Application, the Real World Evidence Solutions Market is segmented into Drug Development & Approvals, Medical Device Development & Approvals, Reimbursement/Coverage & Regulatory Decision Making, and Post Market Safety & Adverse Events Monitoring. Our real world data product includes more than 300 million longitudinal covered lives, 2 million healthcare providers and 98% of payers in the United States, with visibility into more than 120 million linked claims and electronic health records (EHR). As a Premium user you get access to background information and details about the release of this statistic. IBISWorld reports on thousands of industries around the world. 6.8.3 JURISDICTION ANALYSIS: TOP APPLICANTS (COUNTRIES) FOR PATENTS IN THE REAL WORLD EVIDENCE SOLUTIONS MARKET RWE data is needed for new drugs to successfully pass through clinical phases. 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. In 2021, the pharmaceutical, biotechnology, and medical device companies segment accounted for the largest share of the overall real-world evidence solutions market. Real-world data refer to observational data as opposed to data gathered in an experimental setting such as a randomized controlled trial (RCT). Ltd. in 2013 as a private limited company under the Companies Act, 1956. TABLE 7 JAPAN: HEALTHCARE IT INITIATIVES AND FUNDING FIGURE 31 JURISDICTION ANALYSIS: TOP APPLICANT COUNTRIES FOR RWE SOLUTIONS, 20162021 Poor data quality costs the US economy up to $3.1 trillion yearly. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American, Real-World Evidence (RWE) Solutions Market, https://www.meticulousresearch.com/download-sample-report/cp_id=4954, https://www.meticulousresearch.com/speak-to-analyst/cp_id=4954, https://www.meticulousresearch.com/Checkout/71850364, https://www.meticulousresearch.com/product/real-world-evidence-solutions-market-4954, https://www.meticulousresearch.com/custom-research, https://www.linkedin.com/company/meticulous-research, https://www.meticulousresearch.com/pressrelease/238/real-world-evidence-solutions-market-2028, Alternative Protein Processing Equipment Market to Reach $2.2 billion by 2030 - Market Size, Share, Forecasts, & Trends Analysis Report with COVID-19 Impact by Meticulous Research, Cybersecurity Services Market Worth $158.4 Billion by 2030: Market Sizes, Shares, Forecasts, and Trends Analysis Report with COVID-19 Impact by Meticulous Research, Market Access & Reimbursement/Coverage Decisions, Pharmaceutical, Biotechnology, and Medical Device Companies. - 23) 7.3.1.2 Claims data set TABLE 170 OTHER DEVELOPMENTS, 20192022, 12 COMPANY PROFILES (Page No. Special focus: On-premises vs cloud storage, Quarterly smartphone market share worldwide by vendor 2009-2022, Apple iPhone unit sales worldwide 2007-2018, by quarter, Global market share held by smartphone operating systems 2009-2018, by quarter, Virtual reality (VR) - statistics & facts, Research expert covering global developments in the use of data, Profit from additional features with an Employee Account. the controller uses real-time particle size and moisture content data as well as Fluid Bed Granulation process data to make realtime process control decisions . The acquisition would combine the companys consulting expertise and technical capabilities with Octos team that enable federal clients to transform faster and better serve citizens.Jul-2022: IBM took over Databand, a leader in data observability software. TABLE 108 SPAIN: REAL WORLD EVIDENCE SOLUTIONS MARKET, BY COMPONENT, 20202027 (USD MILLION) The collaboration would allow the company to improve research design and impact of real-world studies with an aim to advance patient health and clinical results.Jul-2021: ICON plc took over PRA Health Sciences, a contract research organization. According to estimates, cancer, obesity, cardiovascular diseases, and diabetes, all of which are on the rise, are responsible for over half of all fatalities from chronic diseases. Education. The analysis of the collected data generates real-world evidence, which, in turn, helps in retrospective studies and provides meaningful insights into unmet needs and the clinical and economic impacts on patients and healthcare systems. Volume of data/information created, captured, copied, and consumed worldwide from 2010 to 2020, with forecasts from 2021 to 2025 (in zettabytes) [Graph]. It also helps generate broader scientific evidence and commercial insights, valuable for the pharmaceutical industry. The global real world evidence solutions market size is expected to reach USD 78.80 billion by 2030. 11.8 COMPANY EVALUATION QUADRANT FOR START-UPS/SMES FIGURE 11 DATA SETS MARKET, BY TYPE, 2022 VS. 2027 (USD MILLION) Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.__________________________, https://www.reportlinker.com/p06422625/?utm_source=GNW. 5.2.1.1 Rise in the geriatric population and the subsequent increase in the prevalence of chronic diseases Please do not hesitate to contact me. Insurance. For instance, in April 2020, ICON plc (Ireland) signed a three-year agreement with Pfizer Inc. (U.S.), under which ICON provides expertise in the planning, execution, management, and conduct of clinical trials. 7.3.1.4 Patient-powered data set The process of drug development requires evidence on population size, clinical disease progression, and adherence to similar therapies that can support decision-making. 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. Pharma data analyses extract insights, inform new strategies and provide KPI tracking. TABLE 115 REST OF EUROPE: RWE SOLUTIONS DATA SETS MARKET, BY TYPE, 20202027 (USD MILLION) TABLE 23 PHARMACY DATA SETS OFFERED BY KEY MARKET PLAYERS TABLE 87 UK: RWE SOLUTIONS MARKET, BY COMPONENT, 20202027 (USD MILLION) 6.3 ECOSYSTEM ANALYSIS Profit from the additional features of your individual account. : COMPANY SNAPSHOT (2021) 12.1.9 ORACLE CORPORATION 12.1.16 COGNIZANT TECHNOLOGY SOLUTIONS CORPORATION FIGURE 40 NORTH AMERICA: RWE SOLUTIONS MARKET SNAPSHOT Congress defined RWE as data regarding the usage, or the potential benefits or risks, of a drug derived from sources other than traditional clinical trials. To forecast the size of the market segments with respect to five regions, namely, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. 10.2.1 US 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. FIGURE 51 THERMO FISHER SCIENTIFIC, INC.: COMPANY SNAPSHOT (2021) 6.4.1 THREAT OF NEW ENTRANTS 11.8.1 PROGRESSIVE COMPANIES The growth of this market is driven by factors such as the rising prevalence of chronic diseases, rapidly growing big data in healthcare, the shift from volume to value-based care, and the 7.3.1.1 Clinical settings data set "Volume of data/information created, captured, copied, and consumed worldwide from 2010 to 2020, with forecasts from 2021 to 2025 (in zettabytes)." FIGURE 22 RWE SOLUTIONS MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES TABLE 90 UK: REAL WORLD EVIDENCE SOLUTIONS MARKET, BY APPLICATION, 20202027 (USD MILLION) 11.7.2 EMERGING LEADERS In 2020, every person generated 1.7 megabytes in just a second. Real-world evidence (RWE) is the clinical evidence about the usage and potential benefits or risks of a medical product derived from analysis of RWD. TABLE 86 UK: MACROECONOMIC INDICATORS Global top 2000 strategist rely on us for their growth strategies. 10.3.1 GERMANY TABLE 63 US: RWE SOLUTIONS IN DRUG DEVELOPMENT AND APPROVALS MARKET, BY TYPE, 20202027 (USD MILLION) TABLE 39 DRUG DEVELOPMENT AND APPROVALS MARKET IN IMMUNOLOGY, BY COUNTRY, 20202027 (USD MILLION) (IDC, 2020) $1.9 billion will be spent in the distribution and services segment. 11.1 OVERVIEW 10.2.1.1 The US accounted for the largest share of the North American market 10.2 NORTH AMERICA 10.3.5.1 Rising R&D expenditure to propel market growth in Spain Mr.Khushal BombeMeticulous Market Research Inc.1267WillisSt,Ste200 Redding,California,96001, U.S.USA: +1-646-781-8004Europe : +44-203-868-8738APAC: +91 744-7780008Email-[emailprotected]Visit Our Website:https://www.meticulousresearch.com/Connect with us on LinkedIn-https://www.linkedin.com/company/meticulous-researchMeticulousBolg:Content Source: https://www.meticulousresearch.com/pressrelease/238/real-world-evidence-solutions-market-2028, SOURCE Meticulous Market Research Pvt. RWD can come from a number of sources, for example: Real-world evidence is the clinical evidence regarding the usage and potential benefits or risks of a medical product derived from analysis of RWD. This insight, in clinical settings, can be gained by combining data from randomized controlled trials with evidence from real-world settings.Regional OutlookBased on Region, the Real World Evidence Solutions Market is segmented into North America, Europe, Asia Pacific, and LAMEA. United States Real-World Evidence (RWE) Solutions Market Report 2022: Market is Expected to Grow at a CAGR of 13% from 2021 to 2028 to Reach $2.01 Billion by 2028 - ResearchAndMarkets.com March 11 . TABLE 15 DATA SETS MARKET, BY TYPE, 20202027 (USD MILLION) TABLE 84 GERMANY: RWE SOLUTIONS IN DRUG DEVELOPMENT AND APPROVALS MARKET, BY TYPE, 20202027 (USD MILLION) Data are in millions of international dollars; they were compiled by the World Bank. 12.1.8 LABCORP HOLDINGS TABLE 126 ASIA PACIFIC: RWE SOLUTIONS MARKET, BY END USER, 20202027 (USD MILLION) TABLE 160 MIDDLES EAST & AFRICA: RWE SOLUTIONS MARKET, BY COMPONENT, 20202027 (USD MILLION) Real-world evidence (RWE) is clinical evidence gathered via real-world data (RWD) analysis on a medical product's use and potential benefits or risks. $ 12 billion - the worldwide market size is expected to reach USD 78.80 billion by.! Strategist rely on us for their growth strategies ( RWE ) is clinical real world data market size gathered via RWD on... As a randomized controlled trial ( RCT ) rely on us for their growth strategies evidence solutions size. 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