QatarBusinessToday.com
No Result
View All Result
  • About Us
  • Contact Us
  • Business
  • Energy
  • Finance
  • Healthcare
  • Real Estate
  • Travel
  • Tech
  • Middle East
  • Press Releases
Submit a Press Release
  • Business
  • Energy
  • Finance
  • Healthcare
  • Real Estate
  • Travel
  • Tech
  • Middle East
  • Press Releases
No Result
View All Result
QatarBusinessToday.com
Submit PR
Home Press Releases

Real-World Evidence (RWE) Solutions Market Worth $4.4 Billion by 2028

Newsroom by Newsroom
July 20, 2022
Share on FacebookShare on Twitter


(EMAILWIRE.COM, July 20, 2022 ) According to a new market research report titled “RWE Solutions Market by Component (Datasets [Clinical, Claims, Pharmacy, Integrated], Services), Application (Market Access, Oncology, Neurology, Post Market Surveillance), End User (Pharma Companies, Providers) — Global Forecast to 2028”, published by Meticulous Research®, the real-world evidence solutions market is expected to grow at a CAGR of 11.8% from 2021–2028 to reach $4.4 billion by 2028.

Real-world evidence (RWE) is clinical evidence gathered via Real World Data (RWD) analysis on the use and potential benefits or risks of a medical product. RWE can be produced through various study designs or analyses, including but not limited to randomized trials, large simple trials, pragmatic trials, and observational studies (prospective or retrospective). RWE has several applications, including drug development life cycles, shortening development timelines, reducing the costs of clinical trials, and improving the probability of technical and regulatory success. The growth of this market is primarily driven by key factors such as the rapid growth of large data in healthcare, the shift from volume to value-based care, and the rising focus towards personalized healthcare.

Download Free Sample Report Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=4954

Impact of COVID-19 on RWE Solutions Market

The key players operating in the RWE solutions market experienced an initial market shrinkage due to uncertainties associated with the impact of the COVID-19 pandemic. The market shrinkage was mainly due to significant restrictions on travel in many countries, shifting of resources on COVID-19 treatments in healthcare settings, and limited access to hospitals. These factors affected the amount of real-world data generated globally.

However, after the initial shrinkage, real-world evidence (RWE) is set to become the most influential emerging technology to fight against the COVID-19 outbreak. Real-world evidence solutions can provide valuable insights to better understand, monitor, and prepare for the challenges caused by the COVID-19 pandemic. RWD has been used increasingly to map the progression of the disease and to discover vaccines and immediate treatments. Thus, the effectiveness of the use of RWD made a significant impact during the pandemic and continues to play a significant role in the treatment of infected patients.

Speak to our Analysts to Understand the Impact of COVID-19 on Your Business: https://www.meticulousresearch.com/speak-to-analyst/cp_id=4954

RWE Solutions Market: Future Outlook

The RWE Solutions Market is segmented by component (datasets and consulting services), application (market access & reimbursement/coverage decisions, drug development & approvals, post market surveillance, medical device development & approvals, and other applications), end user (pharmaceutical, biotechnology, and medical device companies, healthcare payers, healthcare providers, and other end users), and geography (North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa).

Based on component, the datasets segment is estimated to account for a larger share of the overall RWE solutions market in 2021. The large share of this segment is mainly attributed to the growing amount of medical data generated in hospitals and the increasing dependence of outcome-based studies on real-world data. EHRs are the most commonly used form of healthcare database that helps in conducting outcome-based studies. EHR data is playing an increasingly vital role in collecting and generating actionable information at the FDA. Governments across the world are undertaking initiatives to increase the adoption of EHR/EMR data. For instance, in September 2020, to digitalize the entire healthcare ecosystem of India, the Ministry of Health and Family Welfare (MoHFW) released a draft policy termed the Health Data Management Policy. However, the consulting services segment is expected to witness the fastest growth rate during the forecast period. Real-world evidence consulting service providers make use of robust real-world datasets generated by conducting prospective/observational studies to offer customized consulting services to generate fit-for-purpose data and insights for their stakeholders instead of providing terabytes of data.

Based on application, the market access & reimbursement/coverage decisions segment is estimated to account for the largest share of the RWE solutions market in 2021. The pharmaceutical, biotech, and medical device industries face unprecedented challenges due to the global economic crisis, COVID-19 pandemic, and concerns about escalating healthcare costs. Due to rising therapy costs, healthcare payers are increasingly focused on evidence of clinical value for making decisions associated with providing coverage. RWE helps provide a means for demonstrating value, ranging from confirming randomized trial benefits in real-world populations to a fuller characterization of resource impacts. RWE is being increasingly considered by both industry and payers. Payers use the data to support coverage decisions, develop guidelines and decision support tools for use in clinical practice, generate estimates of the potential population they cover that could require the treatment, and estimate potential costs and cost offsets. However, the drug development & approvals segment is expected to witness the fastest growth rate during the forecast period.

Quick Buy – RWE Solutions Market Research Report: https://www.meticulousresearch.com/Checkout/81544641

Based on end user, the pharmaceutical, biotechnology, & medical device companies segment is expected to witness the fastest growth rate during the forecast period. Rising pharmaceutical R&D spending is the major factor attributed to the growth of this segment. The cost of developing a new drug was more than $2,600 million in 2020 compared to $802 million in 2003. This increase in drug development costs reflects various technical, regulatory, and economic challenges pharmaceutical R&D pipelines face. The global R&D spending in 2021 surged by 7.0% ($212 billion) compared to 2020. Real-world evidence helps in understanding real-life clinical practices and actual health outcomes of drugs. It also helps generate broader scientific evidence and commercial insights, valuable for the pharmaceutical industry.

Geographically, North America is estimated to command the largest share of the global RWE solutions market in 2021, followed by Asia-Pacific, Europe, Latin America, and the Middle East & Africa. However, Asia-Pacific region is expected to be the fastest-growing regional market due to growing demand from payers for data that defines the value and effectiveness of medicines, growing demand in conducting real-world studies in drug R&D, and increasing government interest in using real-world studies for regulatory decision-making.

Get Request Sample Report @ https://www.meticulousresearch.com/request-sample-report/cp_id=4954

Key companies operating in the global RWE solutions market are IQVIA Holdings Inc. (U.S.), ICON plc (Ireland), PPD, Inc. (U.S.), SYNEOS HEALTH, INC. (U.S.), CLARIVATE PLC (U.S.), Medpace Holdings Inc. (U.S.), Symphony Innovation, LLC (U.S.), Clinigen Group plc (U.K.), Cognizant Technology Solutions Corporation (U.S.), IBM Corporation (U.S.), Oracle Corporation (U.S.), PAREXEL International Corporation (U.S.), PerkinElmer, Inc. (U.S.), SAS Institute Inc. (U.S.), UnitedHealth Group Incorporated (U.S.), and Flatiron Health (U.S.) among others.



Source link

Previous Post

BTN Spotlight: Philip Dickinson of Qatar Tourism | Focus – Breaking Travel News

Next Post

VideoMost Receives 2022 Unified Communications Product of the Year Award

Related Posts

Press Releases

Telecom API Market | Staying Up to Date with New Development Plans for 2030

November 30, 2023
Welding Material Market Forecast: Emerging Trends and Opportunities
Press Releases

Welding Material Market Forecast: Emerging Trends and Opportunities

November 30, 2023
Key Players and Innovations in the Hot Melt Adhesives (HMA) Market
Press Releases

Key Players and Innovations in the Hot Melt Adhesives (HMA) Market

November 30, 2023
Whole Exome Sequencing Market to reach USD 6.1 Billion by 2029 at a growth rate of 21.06 percent over the forecast period
Press Releases

Whole Exome Sequencing Market to reach USD 6.1 Billion by 2029 at a growth rate of 21.06 percent over the forecast period

November 30, 2023
Diagnostic Imaging Market worth $34.6 billion by 2028 , growing at a CAGR of 5.5%
Press Releases

Diagnostic Imaging Market worth $34.6 billion by 2028 , growing at a CAGR of 5.5%

November 30, 2023
Smoked Cheese Market to reach USD 55.49 Billion by 2029 at a growth rate of 5.2 percent over the forecast period
Press Releases

Smoked Cheese Market to reach USD 55.49 Billion by 2029 at a growth rate of 5.2 percent over the forecast period

November 30, 2023

Recommended Stories

Cardiac Safety Services Market worth $1,282 million by 2028 , growing at a CAGR of 11.6%

Cardiac Safety Services Market worth $1,282 million by 2028 , growing at a CAGR of 11.6%

November 22, 2023
Nutrition Product Market to grow at a CAGR of 6.4 percent to reach USD 622.7 Bn by 2029

Nutrition Product Market to grow at a CAGR of 6.4 percent to reach USD 622.7 Bn by 2029

June 12, 2023

Qatar and UAE cooperated with Jordan to airdrop urgent aid to Gaza … – Doha News

November 13, 2023

Popular Stories

  • ZainTech partners with LigaData to deliver data-driven digital services in MENA

    ZainTech partners with LigaData to deliver data-driven digital services in MENA

    0 shares
    Share 0 Tweet 0
  • Exchange goods, vehicles, or property for crypto on Bazaars

    0 shares
    Share 0 Tweet 0
  • Rastec Real Estate holds groundbreaking for mixed-use building project

    0 shares
    Share 0 Tweet 0
  • Qatari Ministry, Meta partnership seeks growth of digital innovation ecosystem

    0 shares
    Share 0 Tweet 0
  • Al Futtaim Group Real Estate partners with TIER Mobility for micro-mobility services at Dubai Festival City – MEConstructionNews.com

    0 shares
    Share 0 Tweet 0

Qatar Business Today™ publishes and aggregates business, socio-economic, Tech and industrial news on Qatar, Middle East and North Africa (MENA)..

Press release distribution services:

We provide press release distribution to media in Qatar, the Arab world and the GCC/MENA regions. Submit a press release today, contact us.

Recent News

.
  • Citibank – What makes Citi Credit Cards the finest for lounge access in the UAE?
  • Long-Term Investment Options Available at Citibank in UAE
  • Cashback credit card Vs Rewards credit card: Which one to Choose?
  • Does Age Matter While Making Investments?

Categories

Business
Energy
Finance
Healthcare
Real Estate
Travel
Tech
Middle East
Press Releases

Subscribe to Our Newsletter

    Qatar Business Today™ is part of GroupWeb Media Network. © 2023 GroupWeb Media LLC
    • About Us
    • Contact Us
    • Submit a Press Release
    No Result
    View All Result
    • Business
    • Energy
    • Finance
    • Healthcare
    • Real Estate
    • Tech
    • Travel
    • Middle East
    • Press Releases
    • About Us
      • Contact Us
      • Submit a Press Release

    Qatar Business Today™ is part of GroupWeb Media Network. © 2023 GroupWeb Media LLC