Meticulous Research®—a leading global market research company, published a research report titled, ‘RWE Analytics Market by Application [Market Access & Reimbursement, Drug Development & Approval (Oncology, Neurology, Cardiovascular), Post Market Surveillance, Medical Device Development], End User (Pharma, Payer, Provider) - Global Forecast to 2029’.
According to this latest publication from Meticulous Research®, the global real-world evidence (RWE) analytics market is expected to grow at a CAGR of 15.1% during the forecast period 2022–2029 to reach $2.93 billion by 2029. Factors such as rapidly-growing big data in healthcare, shift from volume to value-based care, and rising focus toward personalized healthcare are expected to have a positive impact on the RWE solutions market. However, the lack of standardized methodologies to develop RWE is expected to pose a challenge to the market.
The global RWE analytics market is segmented based on Application (Market Access & Reimbursement/Coverage Decisions, Drug Development & Approvals, Post Market Surveillance, Medical Device Development & Approvals, and Clinical & Regulatory Decision-making), End User (Pharmaceutical, Biotechnology, and Medical Device Companies, Healthcare Payers, Healthcare Providers, and Other End Users), and Geography. The study also evaluates industry competitors and analyzes their market share at global and regional levels.
Based on application, in 2022, the market access & reimbursement/coverage decisions segment is estimated to account for the largest share of the global RWE analytics market. RWE is increasingly considered by both industry and payers as a valuable source of evidence for market access & reimbursement and a complement to clinical trial evidence. Gaining & sustaining market access requires a clear understanding of the needs and values of key stakeholders. RWE offers an integrated strategic approach for proper understanding & communication of product attributes & benefits, driving value and market success.
Based on end user, in 2022, the pharmaceutical, biotechnology, and medical device companies segment is estimated to account for the largest share of the global RWE analytics market. In the past few years, advanced RWE analytics has been increasingly considered by pharmaceutical companies as a tool that characterizes patients and establishes matching techniques to compare patient groups with related characteristics based on predictive models, machine/deep learning, probabilistic causal models, and unsupervised algorithms. This helps pharmaceutical companies to derive deeper insights from rich patent data sets, gain a better understanding of outcomes, understand drug performance and differentiation at the subpopulation level, and generate hypotheses at scale across multiple therapies, comparisons, and endpoints.
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Geographic Review :
This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S., Canada), Europe (Germany, France, U.K., Italy, Spain, and the Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and RoAPAC), Latin America, and Middle East & Africa.
Key companies operating in the global RWE analytics market are Clinigen Group plc (U.K.), ICON plc (Ireland), IQVIA Holdings Inc. (U.S.), Oracle Corporation (U.S.), Parexel International Corporation (U.S.), PerkinElmer, Inc. (U.S.), PPD Inc. (U.S.), SAS Institute Inc. (U.S.), UnitedHealth Group Incorporated (U.S.), and Flatiron Health (U.S.).
Key questions answered in the report-
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