Growth Insights Report: Global Real World Evidence Analytics Solutions Market 2018 - Innovation and Changing End-user Needs Driving Market Growth

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May 17, 2018, 03:00 ET

DUBLIN, May 17, 2018 /PRNewswire/ --

The "Growth Insights - Real World Evidence Analytics Solutions Market" report has been added to ResearchAndMarkets.com's offering.

Over the last 3-5 years, growing cost pressure on healthcare and pharmaceutical companies and a significant shift towards outcome based healthcare approach have resulted in companies increasingly adopting real world data and evidence solutions to optimize their operation and cost using analytics. Earlier, applications of RWE were largely limited to HEOR/pricing analytics; however digitalization of healthcare services and increased database access has resulted in applications expansion in other part of the value chain, including clinical trials, drug discovery, and life cycle management.

During 2016-2021, global real world evidence analytics solutions market is expected to grow at ~16% CAGR to approximately 430 million by 2021. Favourable regulatory environment, preference of payers using RWD to understand the economic benefit outcomes, and achieved efficiency are some of the key market growth drivers.

At present, the RWE analytics solutions market is moderately fragmented with presence of a number of life science companies, and database service providers. In addition, CROs are increasingly expanding their analytics and informatics capability to provide integrated solutions to their pharmaceutical clients. Traditionally, most database vendors have had relatively limited data analytics expertise and hence role of analytics vendors have become important in the industry. During 2017-2018, the RWE market has witnessed a number of partnership and acquisition activities as a number of industry stakeholders are looking to strengthen their technical expertise. Given existing capability gap, this trend is ecpected to continue in near future.

So far, pharmaceutical companies have adopted a hybrid approach to manage real world evidence function. Most companies have invested in developing in-house teams and they partner with external vendors either on project basis or for specific therapeutic segments. This trend is ecpected to continue over the next 3-4 years as pharmaceutical companies will first look to establish processes and structures with in their organization, before relying on external vendors.

Most vendors presently offer support based solutions, and cognitive and machine learning based DIY tools are still in work-in-progress, as different healthcare databases are still evolving and being explored. We expect a medium-moderate growth in adoption of DIY tools during the forecast period.

Key Issues Addressed

What are they key market opportunities that make this an attractive market with significant future revenue potential for companies?
How are different regional market positioned to realize the available opportunities/growth potential?
What is the total market size and projected growth of real-world evidence analytics solutions?
What are the key challenges being faced by the clients? What are the key success factors for companies to remain relevant and competitive in this crowded market?
How product offerings in this market are likely to emerge? How transition across the value chain is happening to solve the unmet needs from customers?
How are current business models being replaced by innovative approaches to overcome existing challenges?

Key Topics Covered:

1. Executive Summary

Key Findings
Big Market Themes

2. Market Overview

Market Scope and Segmentation
Key Questions Addressed in this Study
Real World Evidence-Types of Data and Usage
RWE Generation from RWD
Sources of Patient-Level Real World Data
Application Areas Across the Pharmaceutical Value Chain
Adoption of RWE/RWD Across Countries
Regulatory Environment-United States
Regulatory Environment-Europe

3. Market and Technology Trends

Technology Trends Overview
Technology Trends Explained
Market Trends Explained
Regional Perspective-The United States
Regional Perspective-Europe
Regional Perspective-Japan

4. Drivers & Restraints

Key Market Drivers
Market Drivers Explained
Key Market Restraints
Market Restraints Explained

5. Growth Environment-Real World Evidence Analytics Solutions Market

Revenue Forecast Assumption
Revenue Forecast
Market Breakdown by Solutions
Revenue Forecast Discussion

6. Growth Environment-Competitive Playbook

Competitive Environment-Highlights
Competitive Factors and Assessment
Competitive Benchmarking
Capability Mapping-Database Providers
Competitive Mapping-Analytics/Tools Vendors
Key Companies to Watch

7. Adoption among Key Pharmaceutical Companies and Initiatives Taken by Key Customers

Current RWD/RWE Adoption Scenario in Pharmaceutical Companies
Strategies Adopted by Pharmaceutical Companies-Novartis
Strategies Adopted by Pharmaceutical Companies-Merck
Strategies Adopted by Pharmaceutical Companies-Others
Challenges Faced by Pharmaceutical Companies

8. Visioning Scenario

Real World Evidence Market-Macro to Micro Visioning

9. New Business Models

Emerging Business Models-Real-time Analytics
Emerging Business Models-Collaboration between Multiple Stakeholders
Emerging Business Models-Partnerships among Different Stakeholders to Develop Products and Solutions
Application of Genomics Data in RWE/RWD Applications
Real-time mHealth and Wearable Data for RWE Generation

10. Growth Opportunities, Strategies and Implementation Recommendation

Growth Opportunity 1-Cognitive Computing and Machine Learning Based Tools
Growth Opportunity 2-Application-Focused Analytics Tools/Platforms
Growth Opportunity 3-Tools/Platforms with Capability to Handle Multi-Omics Data
Growth Opportunity 4-RWE Platforms Dedicated to Support Drug Development Activities
Strategic Imperatives-RWE Analytics Solutions Providers

11. The Last Word

12. Appendix

Companies Mentioned

Merck
Novartis

For more information about this report visit https://www.researchandmarkets.com/research/9f33lv/growth_insights?w=5

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