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Real-world Evidence Analytics Market
Real-world Evidence 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
Report ID:MRHC - 104620 Pages: 180 Jun-2022 Formats*: PDF Category: Healthcare Delivery: 24 to 72 HoursThe Real-world Evidence 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. The report analyses various RWE analytics solutions offered by key companies for different applications, including market access & reimbursement/coverage decisions, drug development & approvals, post-market surveillance, medical device development & approvals, and clinical & regulatory decision-making. These solutions are used by various end users such as pharmaceutical, biotechnology, and medical device companies, healthcare payers, and healthcare providers. Rapidly-growing big data in healthcare, a shift from volume to value-based care, and a rising focus on personalized healthcare are the primary drivers for the growth of the RWE analytics market.
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AI Integration in RWE Analytics Current Trend in the Market
Data management & integration enhancements help improve the speed & quality of drug discovery and clinical trial processes. Artificial intelligence (AI) is employed in real-world data (RWD) to enhance data anomaly detection, standardization, and quality check at the pre-processing stage. AI is expected to offer pharma & biotech companies the ability to increase meaningful RWE output, decrease time to insights, and make the most of the available vast data sources. RWE technology platforms delivering smart data processing, analysis, and outcomes offer an unparalleled opportunity to capitalize on these computing advancements. When used as a part of a comprehensive RWE strategy, AI innovations can enhance drug development, improve patient treatment & access, and drive valuable new business opportunities.
Key Findings in the Global RWE Analytics Market Study
Market Access & Reimbursement/Coverage Decisions to Dominate the Market
The market access & reimbursement/coverage decisions segment is estimated to account for the largest share of the RWE analytics market in 2022. The large market share of this segment is mainly attributed to the increasing demand for RWD and RWE to accelerate market access & reimbursement/coverage decisions, increasing investments by biopharmaceutical companies in R&D, and the growing inclination of regulatory bodies toward the use of RWE.
Pharmaceutical, Biotechnology, and Medical Device Companies Segment to Register the Largest Share in the RWE Analytics Market by 2029
The pharmaceutical, biotechnology, and medical device companies segment is estimated to account for the largest share of the RWE analytics market in 2022. The large market share of this segment is mainly attributed to the increasing importance of RWE analytics in drug development & approvals, and the growing need to avoid costly drug recalls and assess drug performance in real-world settings.
North America to Dominate the Regional Market
North America is estimated to command the largest share of the global RWE analytics market in 2022, followed by Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The rising burden of chronic diseases in the geriatric population, a shift towards value-based care, growing personalized healthcare, availability of electronic datasets, a well-developed healthcare industry, and rising big data in the healthcare sector are some of the major factors expected to drive the growth of this segment.
Key Players
The report includes a competitive landscape based on an extensive assessment of the key strategic developments adopted by leading market participants in the industry over the past four years . The key players profiled in the global RWE analytics market report include 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.).
Scope of the Report
Real-world Evidence Analytics Market, by Application
- Market Access & Reimbursement/Coverage Decisions
- Drug Development & Approvals
- Oncology
- Neurology
- Immunology
- Cardiovascular Diseases
- Other Therapeutic Areas
- Post Market Surveillance
- Medical Device Development & Approvals
- Regulatory and Clinical Decision-making
Real-world Evidence Analytics Market, by End User
- Pharmaceutical, Biotechnology, and Medical Device Companies
- Healthcare Payers
- Healthcare Providers
- Other End Users
(Other end users include academic research institutions, patient advocacy groups, regulators, and health technology assessment agencies)
Real-world Evidence Analytics Market, by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe (RoE)
- Asia-Pacific (APAC)
- Japan
- China
- India
- South Korea
- Taiwan
- Singapore
- Rest of Asia-Pacific (RoAPAC)
- Latin America
- Middle East & Africa
Key questions answered in the report:
The global RWE analytics market covers the market sizes & forecasts of various RWE analytics solutions offered by the key market players to support pharmaceutical, biotechnology, and medical device companies, healthcare payers, healthcare providers, and other end users in making key decisions related to market access & reimbursement/coverage decisions, drug development & approvals, post-market surveillance, medical device development & approvals. The RWE analytics market studied in this report involves the value analysis of various segments and sub-segments of RWE analytics solution providers at regional and country levels.
The global RWE analytics market is projected to reach $2.93 billion by 2029, at a CAGR of 15.1% during the forecast period.
The drug development & approvals segment is estimated to register the highest CAGR during the forecast period due to increasing demand for real-world data and real-world evidence analytics to accelerate drug discovery and development, increasing investments by biopharmaceutical companies in R&D, and the growing inclination of regulatory bodies towards the use of real-world evidence.
Growing incidence of chronic diseases, delay in drug development and the subsequent increase in development costs, rapidly-growing big data in the healthcare sector, a shift from volume to value-based care, and rising focus on personalized healthcare have been considered to positively impact the RWE analytics market. Furthermore, significant opportunities for existing market players and new entrants by emerging markets, rising focus on end-to-end RWE services, and rising adoption of wearable devices in RWE are boosting the growth of this market.
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.).
Emerging economies such as Japan and China in Asia are projected to offer significant growth opportunities for the companies in this market. Growing demand for data defining the value and effectiveness of medicines by payers, growing demand for real-world studies in drug R&D, and increasing government interest in using real-world studies for regulatory decision-making are expected to offer significant growth opportunities in this region.
1. Introduction
1.1. Market Definition
1.2. Market Ecosystem
1.3. Currency
1.4. Key Stakeholders
2. Research Methodology
2.1. Research Process
2.2. Data Collection & Validation
2.2.1. Secondary Research
2.2.2. Primary Research
2.3. Market Assessment
2.3.1. Market Size Estimation
2.3.1.1. Bottom-up Approach
2.3.1.2. Top-down Approach
2.3.1.3. Growth Forecast
2.3.2. Market Share Analysis
2.4. Assumptions for the Study
2.5. Limitations for the Study
3. Executive Summary
4. Market Insights
4.1. Market Overview
4.2. Drivers
4.3. Restraints
4.4. Opportunities
4.5. Challenges
4.6. Key Market Trends
4.7. Impact Assessment of COVID-19
5. Regulatory Analysis – RWE Analytics Market
5.1. Introduction
5.2. North America
5.3. Europe
5.4. Asia-Pacific
5.5. Rest of the World
6. Global RWE Analytics Market, by Application
6.1. Introduction
6.2. Market Access & Reimbursement/Coverage Decisions
6.3. Drug Development & Approvals
6.3.1. Oncology
6.3.2. Neurology
6.3.3. Immunology
6.3.4. Cardiovascular Diseases
6.3.5. Other Therapeutic Areas
6.4. Medical Device Development & Approvals
6.5. Post Market Surveillance
6.6. Other Applications
7. Global RWE Analytics Market, by End User
7.1. Introduction
7.2. Pharmaceutical, Biotechnology, and Medical Device Companies
7.3. Healthcare Payers
7.4. Healthcare Providers
7.5. Other End Users
8. RWE Analytics Market, by Geography
8.1. Introduction
8.2. North America
8.2.1. U.S.
8.2.2. Canada
8.3. Europe
8.3.1. U.K.
8.3.2. Germany
8.3.3. France
8.3.4. Italy
8.3.5. Spain
8.3.6. Rest of Europe (RoE)
8.4. Asia-Pacific
8.4.1. Japan
8.4.2. China
8.4.3. India
8.4.4. South Korea
8.4.5. Taiwan
8.4.6. Singapore
8.4.7. Rest of Asia-Pacific (RoAPAC)
8.5. Latin America
8.6. Middle East & Africa
9. Competitive Landscape
9.1. Introduction
9.2. Key Growth Strategies
9.3. Competitive Benchmarking
9.4. Market Share Analysis (2021)
10. Company Profiles (Business Overview, Financial Overview, Product Portfolio, Strategic Developments)
10.1. IQVIA Holdings Inc.
10.2. PPD Inc.
10.3. ICON plc
10.4. Parexel International Corporation
10.5. UnitedHealth Group Incorporated
10.6. Flatiron Health
10.7. Oracle Corporation
10.8. SAS Institute, Inc.
10.9. Clinigen Group plc
10.10. PerkinElmer, Inc.
11. Appendix
11.1. Questionnaire
11.2. Available Customization
List Of Tables
Table 1 Global RWE Analytics Market Drivers: Impact Analysis (2022–2029)
Table 2 Number of Persons Aged 65 Years or Over, by Region, (2019 Vs. 2050)
Table 3 Total Per-study Cost (USD Million), by Phase and Therapeutic Area
Table 4 Sources of Healthcare Data
Table 5 Global RWE Analytics Market Restraints: Impact Analysis (2022–2029)
Table 6 RWE Analytics In Latin American Countries
Table 7 Observed Indicative Prices of RWE Analytics Market by Type (USD Per Patient Record)
Table 8 Global RWE Analytics Market Size, by Application, 2020–2029 (USD Million)
Table 9 Global RWE Analytics Market Size for Drug Development & Approvals, by Therapeutic Area, 2020–2029 (USD Million)
Table 10 Global RWE Analytics Market Size for Drug Development & Approvals, by Country/Region, 2020–2029 (USD Million)
Table 11 Oncology: Drugs in the R&D Pipeline
Table 12 Global RWE Analytics Market Size for Oncology, by Country/Region, 2020–2029 (USD Million)
Table 13 Neurology: Drugs in the R&D Pipeline
Table 14 Global RWE Analytics Market Size for Neurology, by Country/Region, 2020–2029 (USD Million)
Table 15 Immunology: Drugs in the R&D Pipeline
Table 16 Global RWE Analytics Market Size for Immunology, by Country/Region, 2020–2029 (USD Million)
Table 17 Medical Costs Associated with Cardiovascular Diseases (2010–2030) (USD Billion)
Table 18 Cardiovascular Diseases: Drugs in the R&D Pipeline
Table 19 Global RWE Analytics Market Size for Cardiovascular Diseases, by Country/Region, 2020–2029 (USD Million)
Table 20 Other Therapeutic Areas: Drugs in the R&D Pipeline
Table 21 Global RWE Analytics Market Size for Other Therapeutic Areas, by Country/Region, 2020–2029 (USD Million)
Table 22 Global RWE Analytics Market Size for Medical Device Development & Approvals, by Country/Region, 2020–2029 (USD Million)
Table 23 Global RWE Analytics Market Size for Market Access & Reimbursement/Coverage Decisions, by Country/Region, 2020–2029 (USD Million)
Table 24 Global RWE Analytics Market Size for Post Market Surveillance, by Country/ Region, 2020–2029 (USD Million)
Table 25 Global RWE Analytics Market Size for Other Applications, by Country/Region, 2020–2029 (USD Million)
Table 26 Global RWE Analytics Market Size, by End User, 2020–2029 (USD Million)
Table 27 Global RWE Analytics Market Size for Pharmaceutical, Biotechnology, and Medical Device Companies, by Country/Region, 2020–2029 (USD Million)
Table 28 Global RWE Analytics Market Size for Healthcare Payers, by Country/Region, 2020–2029 (USD Million)
Table 29 Global RWE Analytics Market Size for Healthcare Providers, by Country/Region, 2020–2029 (USD Million)
Table 30 Global RWE Analytics Market Size for Other End Users, by Country/Region, 2020–2029 (USD Million)
Table 31 Global RWE Analytics Market, by Country/Region, 2020–2029 (USD Million)
Table 32 North America: RWE Analytics Market Size, by Country, 2020–2029 (USD Million)
Table 33 North America: RWE Analytics Market Size, by Application, 2020–2029 (USD Million)
Table 34 North America: RWE Analytics Market Size for Drug Development & Approvals, by Therapeutic Area, 2020–2029 (USD Million)
Table 35 North America: RWE Analytics Market Size, by End User, 2020–2029 (USD Million)
Table 36 U.S.: RWE Analytics Market Size, by Application, 2020–2029 (USD Million)
Table 37 U.S.: RWE Analytics Market Size for Drug Development & Approvals, by Therapeutic Area, 2020–2029 (USD Million)
Table 38 U.S.: RWE Analytics Market Size, by End User, 2020–2029 (USD Million)
Table 39 Canada: RWE Analytics Market Size, by Application, 2020–2029 (USD Million)
Table 40 Canada: RWE Analytics Market Size for Drug Development & Approvals, by Therapeutic Area, 2020–2029 (USD Million)
Table 41 Canada: RWE Analytics Market Size, by End User, 2020–2029 (USD Million)
Table 42 Europe: RWE Analytics Market Size, by Country, 2020–2029 (USD Million)
Table 43 Europe: RWE Analytics Market Size, by Application, 2020–2029 (USD Million)
Table 44 Europe: RWE Analytics Market Size for Drug Development & Approvals, by Therapeutic Area, 2020–2029 (USD Million)
Table 45 Europe: RWE Analytics Market Size, by End User, 2020–2029 (USD Million)
Table 46 Germany: RWE Analytics Market Size, by Application, 2020–2029 (USD Million)
Table 47 Germany: RWE Analytics Market Size for Drug Development & Approvals, by Therapeutic Area, 2020–2029 (USD Million)
Table 48 Germany: RWE Analytics Market Size, by End User, 2020–2029 (USD Million)
Table 49 France: RWE Analytics Market Size, by Application, 2020–2029 (USD Million)
Table 50 France: RWE Analytics Market Size for Drug Development & Approvals, by Therapeutic Area, 2020–2029 (USD Million)
Table 51 France: RWE Analytics Market Size, by End User, 2020–2029 (USD Million)
Table 52 U.K.: RWE Analytics Market Size, by Application, 2020–2029 (USD Million)
Table 53 U.K.: RWE Analytics Market Size for Drug Development & Approvals, by Therapeutic Area, 2020–2029 (USD Million)
Table 54 U.K.: RWE Analytics Market Size, by End User, 2020–2029 (USD Million)
Table 55 Italy: RWE Analytics Market Size, by Application, 2020–2029 (USD Million)
Table 56 Italy: RWE Analytics Market Size for Drug Development & Approvals, by Therapeutic Area, 2020–2029 (USD Million)
Table 57 Italy: RWE Analytics Market Size, by End User, 2020–2029 (USD Million)
Table 58 Spain: RWE Analytics Market Size, by Application, 2020–2029 (USD Million)
Table 59 Spain: RWE Analytics Market Size for Drug Development & Approvals, by Therapeutic Area, 2020–2029 (USD Million)
Table 60 Spain: RWE Analytics Market Size, by End User, 2020–2029 (USD Million)
Table 61 Rest of Europe (RoE): RWE Analytics Market Size, by Application, 2020–2029 (USD Million)
Table 62 Rest of Europe (RoE): RWE Analytics Market Size for Drug Development & Approvals, by Therapeutic Area, 2020–2029 (USD Million)
Table 63 Rest of Europe (RoE): RWE Analytics Market Size, by End User, 2020–2029 (USD Million)
Table 64 Asia-Pacific (APAC): RWE Analytics Market Size, by Country, 2020–2029 (USD Million)
Table 65 Asia-Pacific (APAC): RWE Analytics Market Size, by Application, 2020–2029 (USD Million)
Table 66 Asia-Pacific (APAC): RWE Analytics Market Size for Drug Development & Approvals, by Therapeutic Area, 2020–2029 (USD Million)
Table 67 Asia-Pacific (APAC): RWE Analytics Market Size, by End User, 2020–2029 (USD Million)
Table 68 Japan: RWE Analytics Market Size, by Application, 2020–2029 (USD Million)
Table 69 Japan: RWE Analytics Market Size for Drug Development & Approvals, by Therapeutic Area, 2020–2029 (USD Million)
Table 70 Japan: RWE Analytics Market Size, by End User, 2020–2029 (USD Million)
Table 71 China: RWE Analytics Market Size, by Application, 2020–2029 (USD Million)
Table 72 China: RWE Analytics Market Size for Drug Development & Approvals, by Therapeutic Area, 2020–2029 (USD Million)
Table 73 China: RWE Analytics Market Size, by End User, 2020–2029 (USD Million)
Table 74 India: RWE Analytics Market Size, by Application, 2020–2029 (USD Million)
Table 75 India: RWE Analytics Market Size for Drug Development & Approvals, by Therapeutic Area, 2020–2029 (USD Million)
Table 76 India: RWE Analytics Market Size, by End User, 2020–2029 (USD Million)
Table 77 South Korea: RWE Analytics Market Size, by Application, 2020–2029 (USD Million)
Table 78 South Korea: RWE Analytics Market Size for Drug Development & Approvals, by Therapeutic Area, 2020–2029 (USD Million)
Table 79 South Korea: RWE Analytics Market Size, by End User, 2020–2029 (USD Million)
Table 80 Taiwan: RWE Analytics Market Size, by Application, 2020–2029 (USD Million)
Table 81 Taiwan: RWE Analytics Market Size for Drug Development & Approvals, by Therapeutic Area, 2020–2029 (USD Million)
Table 82 Taiwan: RWE Analytics Market Size, by End User, 2020–2029 (USD Million)
Table 83 Singapore: RWE Analytics Market Size, by Application, 2020–2029 (USD Million)
Table 84 Singapore: RWE Analytics Market Size for Drug Development & Approvals, by Therapeutic Area, 2020–2029 (USD Million)
Table 85 Singapore: RWE Analytics Market Size, by End User, 2020–2029 (USD Million)
Table 86 Rest of APAC (RoAPAC): RWE Analytics Market Size, by Application, 2020–2029 (USD Million)
Table 87 Rest of APAC (RoAPAC): RWE Analytics Market Size for Drug Development & Approvals, by Therapeutic Area, 2020–2029 (USD Million)
Table 88 Rest of APAC (RoAPAC): RWE Analytics Market Size, by End User, 2020–2029 (USD Million)
Table 89 Latin America: RWE Analytics Market Size, by Application, 2020–2029 (USD Million)
Table 90 Latin America: RWE Analytics Market Size for Drug Development & Approvals, by Therapeutic Area, 2020–2029 (USD Million)
Table 91 Latin America: RWE Analytics Market Size, by End User, 2020–2029 (USD Million)
Table 92 Middle East & Africa: RWE Analytics Market Size, by Application, 2020–2029 (USD Million)
Table 93 Middle East & Africa: RWE Analytics Market Size for Drug Development & Approvals, by Therapeutic Area, 2020–2029 (USD Million)
Table 94 Middle East & Africa: RWE Analytics Market Size, by End User, 2020–2029 (USD Million)
Table 95 Recent Developments, by Company, 2018–2022
List Of Figures
Figure 1 Key Stakeholders
Figure 2 Research Process
Figure 3 Key Secondary Sources
Figure 4 Primary Research Techniques
Figure 5 Key Executives Interviewed
Figure 6 Breakdown of Primary Interviews (Supply-side & Demand-side)
Figure 7 Market Size Estimation
Figure 8 Global RWE Analytics Market, by Application, 2022 Vs. 2029 (USD Million)
Figure 9 Global RWE Analytics Market, by End User, 2022 Vs. 2029 (USD Million)
Figure 10 RWE Analytics Market, by Geography
Figure 11 Market Dynamics
Figure 12 Number of People with Chronic Conditions in the U.S. (2000–2030)
Figure 13 Percentage of Personalized Medicines Approved (2015–2020)
Figure 14 Asia-Pacific: Percent Share of Global Clinical Trial Activity (2012–2020)
Figure 15 Global RWE Analytics Market Size, by Application, 2022–2029 (USD Million)
Figure 16 Estimated Number of New Cancer Cases, by Region, 2020–2040 (in Millions)
Figure 17 Global RWE Analytics Market Size, by End User, 2022–2029 (USD Million)
Figure 18 Pharmaceutical R&D Spending, 2012–2026 (USD Billion)
Figure 19 Global RWE Analytics Market, by Region, 2022–2029 (USD Million)
Figure 20 North America: RWE Analytics Market Snapshot
Figure 21 Number of Novel Drug Approvals by CDER in a Year, 2010–2020
Figure 22 Europe: RWE Analytics Market Snapshot
Figure 23 Pharmaceutical Industry R&D Expenditure in Germany, 2016–2019 (USD Million)
Figure 24 France: Share of Population Aged 65 & Above, 2010–2020
Figure 25 Italy: Share of Population Aged 65 Years & Above, 2015–2020
Figure 26 Pharmaceutical R&D Expenditure in Spain, 2016–2019 (USD Million)
Figure 27 Pharmaceutical R&D Expenditure in European Countries, 2016–2019 (USD Million)
Figure 28 Asia-Pacific: RWE Analytics Market Snapshot
Figure 29 Number of People >65 Years of Age in Japan, 2000–2050
Figure 30 Key Growth Strategies Adopted by Leading Players (2018–2022)
Figure 31 RWE Analytics Market: Competitive Benchmarking
Figure 32 Market Share Analysis: RWE Analytics Market Industry (2021)
Figure 33 IQVIA Holdings Inc.: Financial Overview
Figure 34 PPD Inc.: Financial Overview
Figure 35 ICON plc: Financial Overview
Figure 36 UnitedHealth Group Incorporated: Financial Overview
Figure 37 Oracle Corporation: Financial Overview
Figure 38 Clinigen Group plc: Financial Overview
Figure 39 PerkinElmer, Inc.: Financial Overview
Figure 40 SAS Institute Inc.: Financial Overview
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