The report “Global New World Evidence Data Market, By Component (Services and Dataset (Claims, Clinical, Pharmacy, and Patient)), By Therapeutic Area (Oncology, Immunology, and Cardiovascular), By End-User (Pharmaceuticals, Medical Devices, Payers, and Providers), and Region – Global Forecast to 2029″ Global new world evidence data market is projected to grow from US$ 0.75 billion in 2019 to US$ 2.87 billion by 2029. Global new world evidence data market is driven by growing usage of the electronic health record systems as an observational system for the patient. Further, use of new clinical trials for the approval of the drugs has also propelled the global market growth. In addition, advancement in new treatment and development of targeted therapies has also led to the growth of the global new world evidence data market. Moreover, use of social media platform to share the new therapies and data is also boosting growth of the target market. Furthermore, the global new world evidence data market is also grown by moving from volume based data to value based data. Pharma and biotech companies believe that RWE can be important for life-cycle management and drug development, coupled with efficiency in innovation and cost of clinical trials because of which use of real-world evidence (RWE) insights is increasing. Now-a-days large pharmaceutical companies use a clinical-genomic database with tumor sequencing information for cancer discovery studies and targeted drug development.
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- In January 2019, IQVIA™ has launched two new capabilities in order to support clinical teams more quickly and easily. The features offered were tested, co-designed and are now used by two of the top-five pharmaceutical companies.
Key Market Insights from the report:
The global new world evidence data market accounted for US$ XX billion in 2019 and is projected to register a moderate CAGR of XX% over the forecast period. The market report has been segmented on the basis of component, therapeutic area, end-user, and region.
- By component, the global new world evidence data market is segmented into services and dataset. Dataset component segment is further classified into claims, clinical, pharmacy, and patient. Dataset component segment dominates the global market, owing to ease of availability, automatic data back-up, and low deployment costs.
- By therapeutic area, the global new world evidence data market is segmented into oncology, immunology, and cardiovascular. Oncology therapeutic area segment accounts for the highest market share, owing to increasing more personalized and precise requirement for oncology and growing prevalence of cancer.
- By end-user, the global new world evidence data market is bifurcated into pharmaceuticals, medical devices, payers, and providers. Pharmaceutical and medical device end-user segment accounts for the largest global market share. This is attributed due to increasing adoption of the real use of precision medicines and rising patient engagement for precise drug development.
- By region, North America dominates the global new world evidence data market due to a favorable government framework, increasing prevalence of chronic diseases, adoption of precision medicines, and a high number of RWE service providers. Europe ranks second largest region for the global market and is expected to show significant growth over the forecast period due to increasing adoption of electronic health records by the medical professionals. The Asia Pacific global market is projected to have the highest CAGR over the forecast period. The global market growth is particularly expected in China, India, and other emerging countries. The Latin America and the Middle East and Africa hold the least growth in comparison to another region, due to lack of growth and adoption of healthcare IT in this region.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “ Global New World Evidence Data Market”, By Component (Services and Dataset (Claims, Clinical, Pharmacy, and Patient)), By Therapeutic Area (Oncology, Immunology, and Cardiovascular), By End-User (Pharmaceuticals, Medical Devices, Payers, and Providers), and by Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa) – forecast till 2029
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The prominent player operating in the global new world evidence data market includes Oracle Corp., IQVIA Holdings, Inc., International Business Machines Corporation, Syneos Health, Inc., ICON Public Limited Company, Pharmaceutical Product Development LLC, Optum, Inc., Cognizant Technology Solutions Corp., SAS Institute Inc., and Flatiron Health, Inc.