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Global Real-World Evidence (RWE) Solutions Market Study 2019-2024 - Oncology Anticipated to Be the Dominant Segment

DUBLIN, Nov. 29, 2019 /PRNewswire/ -- The "Real-World Evidence Solutions Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.

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The real-world evidence solutions market will show rapid growth due to the shift from volume to value-based care, increasing aging population and prevalence of chronic diseases and delays in drug development and the subsequent increase in development costs.

Pharmaceutical companies take several years to introduce a new drug molecule to market, and they invest billions in research and development with a low probability of success. To shorten the drug development cycles, pharma research centers need a clear insight on treatment options that work in a wide population compared to few patient pools in clinical trials. The use of real-world evidence (RWE) insights is thus found increasing as pharma and biotech companies realize that RWE can be important in drug development and life-cycle management and also increase efficiency in innovation and cost of clinical trials.

The big pharmaceutical companies are found using a clinico-genomic database with tumor sequencing information for cancer discovery studies and targeted drug development. Companies are thus able to broaden their indication range and conduct a small number of clinical trials for the rare biomarker-defined population. Thus it indicates the growth of real-world evidence solutions market, during the forecast period.

In addition, the real-world data sets are widely adopted by end-users for RWE for various applications such as drug development & approvals, market access & reimbursement/coverage decisions, clinical decision-making, and medical device development & approvals, among others, that helps in the growth of the overall market.

Key Market Trends

Oncology is Anticipated to be the Dominant Segment During the Forecast Period

Based on the therapeutic area, the oncology segment has been accounted for the largest share of the real-world evidence market. 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. There is also an increasing personalized medicine and a more precise requirement for oncology.

North America Region Holds the Largest Market Share of Real-world Evidence Solutions Market

North America has been accounted for the largest share of the real-world evidence market followed by Europe and the Asia Pacific. There has been a presence of a favorable regulatory environment, a high number of RWE service providers, the presence of a well-established pharmaceutical industry in the region, coupled with the high R&D expenditure, these factors are responsible for the major share of North America in the global real-world evidence market.

The US is expected to dominate the North America market, owing to a high demand in clinical research activities, which is one of the important factors augmenting the demand of real-world evidence solutions market in the North America region.

Competitive Landscape

Product launches, partnerships, collaborations, agreements, and market expansions are the key strategies adopted by players to grow and expand their presence in the real-world evidence solutions market. Some of the key players in the market includes IQVIA, ICON, PAREXEL, Pharmaceutical Product Development and Clinigen Group among others.

Key Topics Covered

1 INTRODUCTION

1.1 Study Deliverables

1.2 Study Assumptions

1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Market Overview

4.2 Market Drivers

4.2.1 Shift From Volume- to Value-based Care

4.2.2 Increasing Aging Population and Prevalence of Chronic Diseases

4.3 Market Restraints

4.3.1 Unwillingness to Rely on Real-world Studies

4.4 Porter's Five Force Analysis

4.4.1 Threat of New Entrants

4.4.2 Bargaining Power of Buyers/Consumers

4.4.3 Bargaining Power of Suppliers

4.4.4 Threat of Substitute Products

4.4.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION

5.1 By Component

5.1.1 Claims Data

5.1.2 Clinical Settings Data

5.1.3 Patient-Powered Data

5.1.4 Pharmacy Data

5.1.5 Services

5.2 By Therapeutic Area

5.2.1 Oncology

5.2.2 Immunology

5.2.3 Neurology

5.2.4 Cardiovascular Disease

5.2.5 Other Therapeutic Areas

5.3 By End User

5.3.1 Healthcare Payers

5.3.2 Healthcare Providers

5.3.3 Pharmaceutical & Medical Device Companies

5.3.4 Other End Users

5.4 Geography

5.4.1 North America

5.4.1.1 US

5.4.1.2 Canada

5.4.1.3 Mexico

5.4.2 Europe

5.4.2.1 Germany

5.4.2.2 UK

5.4.2.3 France

5.4.2.4 Italy

5.4.2.5 Spain

5.4.2.6 Rest of Europe

5.4.3 Asia Pacific

5.4.3.1 China

5.4.3.2 Japan

5.4.3.3 India

5.4.3.4 Australia

5.4.3.5 South Korea

5.4.3.6 Rest of Asia-Pacific

5.4.4 Middle East and Africa

5.4.4.1 GCC

5.4.4.2 South Africa

5.4.4.3 Rest of Middle East and Africa

5.4.5 South America

5.4.5.1 Brazil

5.4.5.2 Argentina

5.4.5.3 Rest of South America

6 COMPETITIVE LANDSCAPE

6.1 Company Profiles

6.1.1 Clinigen

6.1.2 Icon PLC

6.1.3 IBM

6.1.4 Iqvia

6.1.5 Oracle

6.1.6 Parexel

6.1.7 Perkinelmer

6.1.8 Pharmaceutical Product Development

6.1.9 SAS Institute

6.1.10 Syneos Health

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

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