Real-world evidence (RWE) Solutions Market Growth By Top Leading Players | Parexel, Icon, PPD, Syneos Health - PowerPoint PPT Presentation

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Real-world evidence (RWE) Solutions Market Growth By Top Leading Players | Parexel, Icon, PPD, Syneos Health

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Global Real-world evidence (RWE) Solutions market is estimated close to $1 billion (2020), growing at lucrative rate of ~15%. – PowerPoint PPT presentation

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Title: Real-world evidence (RWE) Solutions Market Growth By Top Leading Players | Parexel, Icon, PPD, Syneos Health


1
Real-world evidence (RWE) Solutions Market Growth
is set to be driven by the Rising Support for RWE
Adoption from Regulatory Authorities
2
RWE is the clinical evidence related to the use
and potential advantages/risks of a medical
product based on examination of real-world
data. Global Real-world evidence (RWE) Solutions
market is estimated close to 1 billion (2020),
growing at lucrative rate of 15. The Real-world
evidence (RWE) solutions market growth is driven
by rising support for RWE adoption from
regulatory authorities, increased funding from
pharma, and additional insights generated
compared to randomized clinical trials
(RCTs). RWE to play vital role in helping
regulators formulating decisions RWE may be able
to help FDA in making regulatory decisions on the
safety and effectiveness of medical products,
such as discovering new safety issues after
approval or analysing a drug's effectiveness for
a new indication or patient population. Citing
the potential, the 21st Century Cures Act (Cures
Act, signed in 2016) required FDA to publish a
framework for a program to evaluate the use of
RWE in regulatory decision-making FDA published
the framework for this program in December 2018.
As part of its RWE Program, FDA committed to
understanding the full potential of RWD and RWE
in regulatory decision-making. The agency has
conducted workshops, offered funding for
demonstration projects, created mobile and web
applications that can gather RWD, and engaged in
conversations with sponsors about the topic.
3
  • Funding from private equity and pharma
  • By providing funding, private equity firms
    support the RWE solution providers.
  • For instance,
  • Aetion, one of the RWE solution providers,
    received 110 million funding, led by private
    equity firm Warburg Pincus, in May 2021. Aetions
    platform compiles and analyses real-world data
    from a variety of sources to assess the safety
    and effectiveness of medical products. Aetion
    would use the capital to advancing the
    capabilities of its data analytics platform,
    enhance commercial team and expand its geographic
    footprint.
  • Explore Premium Report on Real-world evidence
    (RWE) Solutions Market _at_ https//meditechinsights.
    com/real-world-evidence-solutions-market/
  • Poor quality medical data and lack of
    interoperability present major challenges in
    adoption of RWE
  • According to major regulatory authorities across
    the globe, the poor data quality and inconsistent
    data are the key obstacles in executing RWE
    studies. The data often originates from
    electronic health records (EHRs), where the data
    may be unstructured, poor quality and/or in
    inconsistent formats, such as doctors notes that
    arent entered in a standardized way.
    Furthermore, a patient's daily activities are
    observed during clinical trials (RCTs). Patients
    visit the doctor less frequently in the real
    world, therefore the EHR data is less reliable
    and inconsistent.
  • Clinical research networks will be necessary for
    the successful and long-term application of
    real-world evidence. It entails developing
    cross-sector collaborations between providers,
    payers, patients, and life science companies to
    pool resources and expertise in clinical
    research  President, Leading Pharma Company

4
Competitive Landscape Analysis of Real-world
evidence (RWE) Solutions Market The key players
in global real-world evidence (RWE) solutions
market are IQVIA Holdings, Parexel, Icon, PPD,
Syneos Health, Clarivate, Cerner, Medpace
Holdings, Flatiron Health, Symphony Innovation,
Aetion, Cognizant Technology, IBM, Oracle, Data
Matrix, SAS Institute Inc., Clinigen Group, and
UnitedHealth Group. For More Detailed Insights,
Contact Us _at_ https//meditechinsights.com/contact-
us/ About Medi-Tech Insights Medi-Tech Insights
is a healthcare-focused business research
insights firm. Our clients include Fortune 500
companies, blue-chip investors hyper-growth
start-ups. We have completed 100 projects in
Digital Health, Healthcare IT, Medical
Technology, Medical Devices Pharma
Services. Contact Ruta Halde Associate,
Medi-Tech Insights 32 498 86 80
79 info_at_meditechinsights.com
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