Data has transformed the healthcare sector. Data has helped in predicting the human health conditions earlier before they get ill. Real world evidence solutions is one such method which has made it possible to handle a big data. In this presentation, you will find about real world evidence solutions, factors that are driving the market, and Delvens analyst finding on the growth of the market.
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6. Introduction
Real-world data (RWD) are routinely obtained data pertaining to patients' health condition
and/or the delivery of health care from a range of sources. Real-world evidence (RWE) is
clinical evidence obtained by RWD analysis on the use and possible benefits or dangers of a
medical product. RWE may give information on a variety of topics, such as illness natural
history and progression, efficacy studies, outcome research, and safety surveillance.
However, the utility of RWE is hampered by information variety, vast data sets of dubious
quality, and methodological rigor.
RCTs are intended to offer strong evidence of a premarket review of an experimental
product's effectiveness and safety. Internal validity is prioritized in RCT design, which can
occasionally compromise generalizability. RWE studies, on the other hand, are intended to
offer data that is relevant to clinical practice.
7. Today's healthcare sector is more specialized, competitive, and cost-conscious than ever
before. To illustrate the benefit of goods and explain complicated healthcare choices, teams
across the lifecycle require the proper evidence. Regulators, payers, prescribers, and
patients are increasingly accepting of RWE usage, opening up a new world of possibilities.
There are several types and sources of RWD. Let's take a deeper look at each category, its
origin, and its applications.
Clinical information derived from electronic health records (EHRs) and case report forms
(eCRFs). This data contains information on the patient's demographics, family history,
comorbidities, procedure and treatment history, and results.
Patient-generated information derived from patient-reported outcome (PRO)
questionnaires. These data give direct patient perspectives and aid researchers in
understanding what happens outside of clinic visits, treatments, and hospital stays.
8. Cost and usage information derived from claims and public databases. They give data on the
use of healthcare services, population coverage, and prescribing patterns.
Data on public health from various government sources. These provide crucial information
to stakeholders, allowing them to better address the needs of the communities they serve.
9. Cost and usage information derived from claims and public databases. They give data on
the use of healthcare services, population coverage, and prescribing patterns.
Data on public health from various government sources. These provide crucial information
to stakeholders, allowing them to better address the needs of the communities they serve.
Market Prospect
The global Real-World Evidence (RWE) Solutions market size is forecasted to reach a CAGR
of 14.6% from 2021 to 2028. North America is the most rapidly growing market and offers
a huge opportunity for the industry, whose growth is driven by the increased R&D in the
sector and the favourable governmental policies. Asia Pacific was the fastest growing
regional market for real world evidence solutions market in 2020. The Oncology segment
accounted for the largest market share in 2020.
10. Market Drivers
According to real world evidence solutions market study analysis, a growing elderly
population and the recent transition from volume- to value-based care are two reasons
that have fueled long-term growth for the Real World Evidence (RWE) Solutions Market.
Other key factors fueling this industry's growth are the shift from volume- to value-based
care and drug development delays (and the associated increase in development costs).
Market growth is predicted to be driven by regulatory support for the use of real-world
evidence (RWE) solutions, as well as an increase in R&D spending. However, the market's
expansion is being hampered by an inability to rely on real-world research and the absence
of universally recognized scientific standards for data collection.
COVID-19 had a good market impact since it became the most widely utilized and
important technology to cope with the pandemic because it gives a better alternative and
knowledge of the epidemic. The emergence of this pandemic has put pharma-biopharma
firms in a variety of countries under significant financial strain. RWE technologies have
11. proven to be quite valuable in this field, allowing industrial and academic researchers to
monitor patients via digitally linked platforms while also aiding in the organization and
assessment of clinical data for regulatory filings.
Conclusions
Clinical registries, which include patient, product, and claims registries, are not just a great
source of RWD. They are also important instruments for producing RWE and utilizing RWE
to assist post-market surveillance and research. It has a great opportunity in market
growth.
17. On the basis of Component
● Services
● Data Sets
● Clinical setting data
● Claims data
● Pharmacy data
● Patient powered data
On the basis of Therapeutic Area
● Oncology
● Cardiovascular
● Neurology
● Immunology
● Others
18. On the basis of End-User
● Pharmaceutical and Medical Devices Companies
● Healthcare Providers
● Healthcare Payers
● Other End Users
On the basis of Region
● North America
● South America
● Asia Pacific
● Europe
● Middle East & Africa
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22. Data Extraction
The stage involves the procurement of market data or related information via different sources &
methodologies.
Data Analysis
This step involves the analysis & mapping of all the information procured from the previous step. It also
encompasses the analysis of data discrepancies observed across various data sources.
Market Integration
The final step entails the placement of data points at appropriate market spaces in an attempt to deduce
viable conclusions. Analyst perspective & subject matter expert based heuristic form of market sizing also
plays an integral role in this step.
Data Validation
Validation is the most important step in the process. Validation & re-validation via an intricately designed
process helps us finalize data-points to be used for final calculations.
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