Pharma/Life Science Real World Evidence: Data/Analytics/Services Market Landscape and Competitive Insights Report, 2018-2030

Dublin, Nov. 20, 2018 (GLOBE NEWSWIRE) -- The "Real World Evidence: Market Landscape and Competitive Insights, 2018-2030" report has been added to ResearchAndMarkets.com's offering.

The Real World Evidence: Market Landscape and Competitive Insights, 2018-2030' report features an extensive study on the industry players that are offering real-world data/analytics/services to the pharmaceutical and life sciences industries.

The process of developing new and disruptive medical products involves heavy investments, both in terms of time and cost. Estimates suggest that each prescription drug requires an average of about 10 years and over USD 2.5 billion in working capital before it gets commercialized. In order to gain regulatory approval and establish standards for the safety and efficacy of these products, randomized clinical trials (RCTs) are conducted; these account for a staggering 40% of the pharmaceutical industry's budget.

In addition to excessive R&D costs, these trials are fraught with various other challenges, such as prolonged delays and risk of failure/termination. It is also worth highlighting that most clinical trials are conducted under controlled conditions and involve a fairly homogenous patient population; however, when such products are approved, there are a variety of factors (both genetic and environmental) that need to be considered while treating individual patients. Data generated from real-world applications of drug/therapy products partly addresses the aforementioned complexities and serves to complement the insights derived from controlled RCTs.

Real world evidence has demonstrated the potential to validate the therapeutic value of pharmaceutical products and help customize product development in a more patient-centric manner. In December 2016, the 21st Century Cures Act was passed directing the FDA to evaluate the applications of real-world evidence in supporting healthcare decision-making.

Its numerous applications have further encouraged pharmaceutical companies and health economists to utilize it in the evaluation of product candidates targeting even the rarest of medical conditions. In fact, it is estimated that, on an average, a big pharmaceutical company spends nearly USD 20 million annually for generating real-world evidence-based insights.

The growing importance of real-world evidence in healthcare decision-making is also evident from the number of tweets (~4,400) posted on the social media platform, Twitter, in recent years. It is also worth noting that, since 2017, close to 75 global events (which include summits, forums, conferences, and annual meetings) have been organized to discuss different aspects of real-world evidence.

Further, in the past few years, more than 1,000 studies have been initiated by stakeholders in a real-world setting to assess the impact of pharmacologic / non-pharmacologic treatment on patients and healthcare systems. Various initiatives are underway to further explore the potential of real-world evidence in different stages of drug development. We believe that such efforts are likely to boost the overall growth of this market in the coming years.

Amongst other elements, the report features:

• An overview of the current status of the market with respect to the companies providing real-world evidence related solutions. It features information on their year of establishment, geographical location, size of the company, type of offering (real world data, analytics, and services), real-world data sources (medical claims, clinical trials, clinical setting, pharmacy, patient-powered and others), and intended application areas (early-stage research, clinical development, regulatory submission / reimbursement / market access, and post-approval studies).
• An elaborate discussion on data governance and the existing regulatory framework related to real-world evidence across various geographies, namely North America (the US and Canada), Europe (the UK, Germany, France, Spain, and Italy), and Asia-Pacific (Australia, China and Japan).
• A detailed publication analysis of close to 500 articles that have been published since 2016, highlighting the key focus areas of ongoing real-world evidence-based research activity in the pharmaceutical and life sciences industries. The analysis also highlights the key prevalent trends associated with these publications, including information on the types of real-world data sources, utilized, leading indications, active stakeholders, and the most popular journals within this domain.
• A comprehensive analysis of completed, ongoing and planned studies conducted in the real world setting. For the purpose of this analysis, we considered only those studies that have been last updated since 2013, and analyzed them on the basis of various parameters, such as current trial status, regional distribution, type of sponsor, target indications, and enrolled patient population across different geographies.
• An analysis depicting the prevalent and emerging trends related to this domain as represented on the social media platform, Twitter. In addition to providing information on yearly trends related to the volume of tweets since 2013, the analysis highlights the most frequently talked about real-world data sources, applications, therapeutic areas, active players, and influential authors.
• An in-depth analysis of recent events (summits/forums/conferences / annual meetings) that were organized for stakeholders in this domain, highlighting the evolution of discussion topics related to real-world evidence. The analysis also provides details on event type, regional distribution, emerging agendas, popular organizers, active industry and non-industry players, and a schematic mapping of upcoming planned events.
• A discussion on affiliated trends, key drivers and challenges, under a SWOT framework, featuring a Harvey ball analysis, highlighting the relative impact of each SWOT parameter on the overall real-world evidence market.
• A comparative analysis of the needs of different stakeholders (manufacturers, regulators, payers, providers, and patients) involved in this domain.
• A list of recent use cases where real-world evidence was leveraged by pharmaceutical / medical device companies, highlighting the ways in which companies have utilized such information to support regulatory decisions, advance disease understanding, and develop outcome-based reimbursement model.
• An insightful opportunity analysis, estimating the existing market size and potential growth opportunities across different applications (early-stage research, clinical development, regulatory approval, pricing/reimbursement, and post-approval studies) of real-world evidence. Based on multiple parameters, such as the number of pre- or post-approval studies conducted annually, investment associated with these studies, and the likely cost and time-saving opportunities, we have provided an informed estimate on the likely evolution of the market over the period 2018-2030.

Key Topics Covered:

1. Preface

2. Executive Summary

3. Introduction

4. Data Governance And Regulatory Framework For Real World Evidence

5. Current Market Landscape

6. Publication Analysis

7. Clinical Trial Analysis

8. Emerging Trends On Social Media

9. Global Events Analysis

10. SWOT Analysis

11. Stakeholder Needs Analysis

12. Real World Evidence Use Cases And Opportunity Assessment

13. Survey Insights

14. Interview Transcripts

15. Appendix 1: Tabulated Data

16. Appendix 2: List Of Companies And Organizations

For more information about this report visit https://www.researchandmarkets.com/research/q68nhb/pharmalife?w=12

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