Global Real World Evidence Solutions Market 2018-2023 - IQVIA is One of the World's Leading Providers of Real-World Evidence Services

DUBLIN, July 16, 2018 /PRNewswire/ --

The "Real World Evidence Solutions Market by Component, Therapeutic Area, End User - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

The global real world evidence solutions market is projected to reach USD 1,348.1 million by 2023 from USD 689.9 million in 2018, at a CAGR of 14.3% during the forecast period.

The growth of this market is majorly driven by the rising geriatric population (and the subsequent increase in the prevalence of chronic diseases), shift from volume- to value-based care, and delays in drug development (and the subsequent increase in development costs).

The report analyzes the global real world evidence solutions market by component, therapeutic area, end user, and region. On the basis of component, the data sets segment accounted for the largest share of the global market in 2017. The large share can be attributed to factors such as easy availability of massive amounts of data, increasing dependence of outcome-based studies on real-world data, and rising demand for information by payers and providers regarding drug safety.

Based on therapeutic area, the real-world evidence market is broadly categorized into oncology, neurology, immunology, cardiovascular disease, and other therapeutic areas. The oncology segment accounted for the largest share of the market in 2017. 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.

Based on end user, the real-world evidence market is segmented into pharmaceutical & medical device companies, healthcare providers, healthcare payers, and other end users (academic institutions, patient advocacy groups, and health technology assessment agencies). The pharmaceutical & medical device companies segment accounted for the largest share of the market in 2017. The large share of this 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.

The real-world evidence market is broadly segmented into four major regions, namely, North America, Europe, Asia Pacific, and the Rest of the World (RoW). In 2017, North America accounted for the largest share of the market, followed by Europe and Asia Pacific. Presence of a favorable regulatory environment, high number of RWE service providers, the presence of a well-established pharmaceutical industry in the region, coupled with the high R&D expenditure, are the major factors responsible for the large share of North America in the global real world evidence market.

Real World Evidence Solutions Market

The rising focus on end-to-end RWE services and growth opportunities in emerging markets are expected to provide further growth opportunities for players operating in the real world evidence market. However, the reluctance to rely on real-world studies and the lack of universally accepted methodological standards for data collection some of the factors limiting the growth of this market during the forecast period.

The prominent players in the global real world evidence solutions market are IQVIA (US), ICON (Ireland), PAREXEL (US), Pharmaceutical Product Development (US), Optum (US), International Business Machines Corporation (US), Cognizant (US), Oracle (US), SAS (US), Syneos Health (US), Anthem (US), Clinigen Group (UK), Palantir Technologies (UK), and Flatiron Health (US).

IQVIA is one of the world's leading providers of real-world evidence services with a wide geographical coverage. The company's strong foothold in the market is primarily attributed to various factors such as its robust technical and service capabilities, good client relationships, diversified service offerings, and its ability to enhance the penetration of its offerings.

IQVIA has registered significant growth serving providers, payers and the biopharmaceutical services industry, and has a presence in all major markets, including the US, Japan, Germany, France, Spain, and Italy, in addition to Brazil, Russia, India, and China (BRIC countries). To increase its geographic presence and customer base, the company focused on mergers and acquisitions as a key growth strategy. Over the past three years, the company has made three major mergers and acquisitions.

Key Topics Covered:

1 Real World Evidence Solutions Market: Introduction

2 Real World Evidence Solutions Market: Research Methodology

3 Real World Evidence Solutions Market: Executive Summary

4 Real World Evidence Solutions Market: Premium Insights
4.1 Real-World Evidence: Market Overview
4.2 Europe Real-World Evidence Market, By Therapeutic Area and Country
4.3 Market: Geographic Snapshot
4.4 Real-World Evidence: Geographic Mix

5 Real World Evidence Solutions Market: Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rising Geriatric Population and the Subsequent Increase in the Prevalence of Chronic Diseases
5.2.1.2 Shift From Volume- to Value-Based Care
5.2.1.3 Delays in Drug Development and the Subsequent Increase in Development Costs
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

6 Industry Trends
6.1 Industry Trends
6.1.1 Emerging Role of Wearable Devices
6.1.2 Social Media Sourced Real-World Evidence
6.1.3 Incorporation of Artificial Intelligence in Real-World Data Management
6.2 Real-World Data Sources

7 Real World Evidence Solutions Market: By Component
7.1 Introduction
7.2 Data Sets
7.2.1 Clinical Settings Data
7.2.2 Claims Data
7.2.3 Pharmacy Data
7.2.4 Patient-Powered Data
7.3 Services

8 Real World Evidence Solutions Market: By Therapeutic Area
8.1 Introduction
8.2 Oncology
8.3 Cardiovascular Disease
8.4 Neurology
8.5 Immunology
8.6 Other Therapeutic Areas

9 Real World Evidence Solutions Market: By End User
9.1 Introduction
9.2 Pharmaceutical & Medical Device Companies
9.3 Healthcare Payers
9.4 Healthcare Providers
9.5 Other End Users

10 Real World Evidence Solutions Market: By Region

11 Competitive Landscape
11.1 Overview
11.2 Competitive Scenario
11.2.1 Mergers & Acquisitions
11.2.2 Partnerships, Agreements, Alliances, and Collaborations
11.2.3 Services Launches

12 Company Profiles
12.1 Iqvia
12.2 IBM
12.3 Pharmaceutical Product Development
12.4 Parexel
12.5 Optum (A Subsidiary of United Health Group, Inc.)
12.6 Perkinelmer
12.7 Icon PLC
12.8 Oracle
12.9 Cognizant
12.10 Syneos Health
12.11 Anthem
12.12 Clinigen
12.13 SAS Institute

For more information about this report visit https://www.researchandmarkets.com/research/xfnzgv/global_real_world?w=5

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

SOURCE Research and Markets

Related Links

http://www.researchandmarkets.com