The Europe Real World Evidence Solutions Market would witness market growth of 8.2% CAGR during the forecast period (2022-2028).
The European Medicines Agency has also developed guidelines for RWE studies that mandate risk-benefit data for post-authorization safety investigations. Therefore, it is anticipated that positive government actions will accelerate market expansion. Additionally, an industry alliance to develop and broaden RWE's application encourages market expansion.
Five companies, including Aetion, IQVIA, Tempus, Flatiron Health, and Syapse, cooperated in 2021 for example, to use data from EHRs, insurance claims, and several other sources outside of clinical trials. The coalition will also collaborate with pharmaceutical firms, producers of medical equipment, patient advocacy organizations, and other significant stakeholders.
This is done to encourage broader initiatives centered on the use of RWE, which, according to coalition members, aids providers, developers, and regulators in having a better understanding of the efficacy and safety of medical products. Such advances will help the market facilitate quicker access to innovative treatment alternatives, which will drive growth.
The institute stresses that realizing this vision, rooted in the Network Strategy to 2025, will encourage the creation and patient usage of better medications. Delivering this ambition will depend heavily on developing the Data Analytics and Real World Interrogation Network (DARWIN EU). It will be possible to analyze and access healthcare data from throughout the EU owing to this network. The initiative will begin in early 2022 with the development of a coordination center to onboard data partners and to direct the completion of studies required by medication regulators and, later, also sought by other stakeholders. RCT data is the main factor in initial price, reimbursement, and market access decisions in Germany because it is the sole drug-specific RWE available before market authorization. These strategies, initiatives, and collaborations are driving the growth of Real World Evidence Solutions Market in Europe.
The Germany market dominated the Europe Real World Evidence Solutions Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $4,206.3 million by 2028.The UK market is anticipated to grow at a CAGR of 7.4% during (2022 - 2028). Additionally, The France market would exhibit a CAGR of 9% during (2022 - 2028).
Based on Component, the market is segmented into Services and Data Set. Based on Therapeutic Area, the market is segmented into Oncology, Cardiology, Neurology, Diabetes, Respiratory and Others. Based on End-user, the market is segmented into Healthcare Companies, Healthcare Payers, Healthcare Providers and Others. Based on Application, the market is segmented into Drug Development & Approvals, Medical Device Development & Approvals, Reimbursement/Coverage & Regulatory Decision Making and Post Market Safety & Adverse Events Monitoring. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Oracle Corporation, Medpace Holdings, Inc., IQVIA Holdings, Inc., ICON plc, PerkinElmer, Inc., Parexel International Corporation (Phoenix Parentco, Inc.), PPD, Inc. (Thermo Fisher Scientific, Inc.), UnitedHealth Group, Inc. (Optum, Inc.), and Syneos Health, Inc.
The European Medicines Agency has also developed guidelines for RWE studies that mandate risk-benefit data for post-authorization safety investigations. Therefore, it is anticipated that positive government actions will accelerate market expansion. Additionally, an industry alliance to develop and broaden RWE's application encourages market expansion.
Five companies, including Aetion, IQVIA, Tempus, Flatiron Health, and Syapse, cooperated in 2021 for example, to use data from EHRs, insurance claims, and several other sources outside of clinical trials. The coalition will also collaborate with pharmaceutical firms, producers of medical equipment, patient advocacy organizations, and other significant stakeholders.
This is done to encourage broader initiatives centered on the use of RWE, which, according to coalition members, aids providers, developers, and regulators in having a better understanding of the efficacy and safety of medical products. Such advances will help the market facilitate quicker access to innovative treatment alternatives, which will drive growth.
The institute stresses that realizing this vision, rooted in the Network Strategy to 2025, will encourage the creation and patient usage of better medications. Delivering this ambition will depend heavily on developing the Data Analytics and Real World Interrogation Network (DARWIN EU). It will be possible to analyze and access healthcare data from throughout the EU owing to this network. The initiative will begin in early 2022 with the development of a coordination center to onboard data partners and to direct the completion of studies required by medication regulators and, later, also sought by other stakeholders. RCT data is the main factor in initial price, reimbursement, and market access decisions in Germany because it is the sole drug-specific RWE available before market authorization. These strategies, initiatives, and collaborations are driving the growth of Real World Evidence Solutions Market in Europe.
The Germany market dominated the Europe Real World Evidence Solutions Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $4,206.3 million by 2028.The UK market is anticipated to grow at a CAGR of 7.4% during (2022 - 2028). Additionally, The France market would exhibit a CAGR of 9% during (2022 - 2028).
Based on Component, the market is segmented into Services and Data Set. Based on Therapeutic Area, the market is segmented into Oncology, Cardiology, Neurology, Diabetes, Respiratory and Others. Based on End-user, the market is segmented into Healthcare Companies, Healthcare Payers, Healthcare Providers and Others. Based on Application, the market is segmented into Drug Development & Approvals, Medical Device Development & Approvals, Reimbursement/Coverage & Regulatory Decision Making and Post Market Safety & Adverse Events Monitoring. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Oracle Corporation, Medpace Holdings, Inc., IQVIA Holdings, Inc., ICON plc, PerkinElmer, Inc., Parexel International Corporation (Phoenix Parentco, Inc.), PPD, Inc. (Thermo Fisher Scientific, Inc.), UnitedHealth Group, Inc. (Optum, Inc.), and Syneos Health, Inc.
Scope of the Study
Market Segments Covered in the Report:
By Component
- Services
- Data Set
By Therapeutic Area
- Oncology
- Cardiology
- Neurology
- Diabetes
- Respiratory
- Others
By End-user
- Healthcare Companies
- Healthcare Payers
- Healthcare Providers
- Others
By Application
- Drug Development & Approvals
- Medical Device Development & Approvals
- Reimbursement/Coverage & Regulatory Decision Making
- Post Market Safety & Adverse Events Monitoring
By Country
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
Key Market Players
List of Companies Profiled in the Report:
- IBM Corporation
- Oracle Corporation
- Medpace Holdings, Inc
- IQVIA Holdings, Inc
- ICON plc
- PerkinElmer, Inc
- Parexel International Corporation (Phoenix Parentco, Inc.)
- PPD, Inc. (Thermo Fisher Scientific, Inc.)
- UnitedHealth Group, Inc. (Optum, Inc.)
- Syneos Health, Inc
Unique Offerings
- Exhaustive coverage
- The highest number of Market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Europe Real World Evidence Solutions Market, by Component
1.4.2 Europe Real World Evidence Solutions Market, by Therapeutic Area
1.4.3 Europe Real World Evidence Solutions Market, by End-user
1.4.4 Europe Real World Evidence Solutions Market, by Application
1.4.5 Europe Real World Evidence Solutions Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Scenario and Composition
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Strategies Deployed in Real World Evidence Solutions Market
Chapter 4. Europe Real World Evidence Solutions Market by Component
4.1 Europe Services Market by Country
4.2 Europe Data Set Market by Country
Chapter 5. Europe Real World Evidence Solutions Market by Therapeutic Area
5.1 Europe Oncology Market by Country
5.2 Europe Cardiology Market by Country
5.3 Europe Neurology Market by Country
5.4 Europe Diabetes Market by Country
5.5 Europe Respiratory Market by Country
5.6 Europe Others Market by Country
Chapter 6. Europe Real World Evidence Solutions Market by End-user
6.1 Europe Healthcare Companies Market by Country
6.2 Europe Healthcare Payers Market by Country
6.3 Europe Healthcare Providers Market by Country
6.4 Europe Others Market by Country
Chapter 7. Europe Real World Evidence Solutions Market by Application
7.1 Europe Drug Development & Approvals Market by Country
7.2 Europe Medical Device Development & Approvals Market by Country
7.3 Europe Reimbursement/Coverage & Regulatory Decision Making Market by Country
7.4 Europe Post Market Safety & Adverse Events Monitoring Market by Country
Chapter 8. Europe Real World Evidence Solutions Market by Country
8.1 Germany Real World Evidence Solutions Market
8.1.1 Germany Real World Evidence Solutions Market by Component
8.1.2 Germany Real World Evidence Solutions Market by Therapeutic Area
8.1.3 Germany Real World Evidence Solutions Market by End-user
8.1.4 Germany Real World Evidence Solutions Market by Application
8.2 UK Real World Evidence Solutions Market
8.2.1 UK Real World Evidence Solutions Market by Component
8.2.2 UK Real World Evidence Solutions Market by Therapeutic Area
8.2.3 UK Real World Evidence Solutions Market by End-user
8.2.4 UK Real World Evidence Solutions Market by Application
8.3 France Real World Evidence Solutions Market
8.3.1 France Real World Evidence Solutions Market by Component
8.3.2 France Real World Evidence Solutions Market by Therapeutic Area
8.3.3 France Real World Evidence Solutions Market by End-user
8.3.4 France Real World Evidence Solutions Market by Application
8.4 Russia Real World Evidence Solutions Market
8.4.1 Russia Real World Evidence Solutions Market by Component
8.4.2 Russia Real World Evidence Solutions Market by Therapeutic Area
8.4.3 Russia Real World Evidence Solutions Market by End-user
8.4.4 Russia Real World Evidence Solutions Market by Application
8.5 Spain Real World Evidence Solutions Market
8.5.1 Spain Real World Evidence Solutions Market by Component
8.5.2 Spain Real World Evidence Solutions Market by Therapeutic Area
8.5.3 Spain Real World Evidence Solutions Market by End-user
8.5.4 Spain Real World Evidence Solutions Market by Application
8.6 Italy Real World Evidence Solutions Market
8.6.1 Italy Real World Evidence Solutions Market by Component
8.6.2 Italy Real World Evidence Solutions Market by Therapeutic Area
8.6.3 Italy Real World Evidence Solutions Market by End-user
8.6.4 Italy Real World Evidence Solutions Market by Application
8.7 Rest of Europe Real World Evidence Solutions Market
8.7.1 Rest of Europe Real World Evidence Solutions Market by Component
8.7.2 Rest of Europe Real World Evidence Solutions Market by Therapeutic Area
8.7.3 Rest of Europe Real World Evidence Solutions Market by End-user
8.7.4 Rest of Europe Real World Evidence Solutions Market by Application
Chapter 9. Company Profiles
9.1 IBM Corporation
9.1.1 Company Overview
9.1.2 Financial Analysis
9.1.3 Regional & Segmental Analysis
9.1.4 Research & Development Expenses
9.1.5 Recent strategies and developments:
9.1.5.1 Acquisition and Mergers:
9.1.6 SWOT Analysis
9.2 Oracle Corporation
9.2.1 Company Overview
9.2.2 Financial Analysis
9.2.3 Segmental and Regional Analysis
9.2.4 Research & Development Expense
9.2.5 SWOT Analysis
9.3 PPD, Inc. (Thermo Fisher Scientific, Inc.)
9.3.1 Company Overview
9.3.2 Financial Analysis
9.3.3 Segmental and Regional Analysis
9.3.4 Research & Development Expense
9.3.5 SWOT Analysis
9.4 UnitedHealth Group, Inc. (Optum, Inc.)
9.4.1 Company Overview
9.4.2 Financial Analysis
9.4.3 Segmental Analysis
9.5 Syneos Health, Inc.
9.5.1 Company Overview
9.5.2 Financial Analysis
9.5.3 Segmental and Regional Analysis
9.5.4 Recent strategies and developments:
9.5.4.1 Acquisition and Mergers:
9.6 IQVIA Holdings, Inc.
9.6.1 Company Overview
9.6.2 Financial Analysis
9.6.3 Segmental and Regional Analysis
9.6.4 Recent strategies and developments:
9.6.4.1 Partnerships, Collaborations, and Agreements:
9.6.4.2 Acquisition and Mergers:
9.7 Medpace Holdings, Inc.
9.7.1 Company Overview
9.7.2 Financial Analysis
9.8 ICON plc
9.8.1 Company Overview
9.8.2 Financial Analysis
9.8.3 Regional Analysis
9.8.4 Recent strategies and developments:
9.8.4.1 Acquisition and Mergers:
9.9 PerkinElmer, Inc.
9.9.1 Company Overview
9.9.2 Financial Analysis
9.9.3 Segmental and Regional Analysis
9.9.4 Research & Development Expense
9.9.5 Recent strategies and developments:
9.9.5.1 Product Launches and Product Expansions:
9.10. Parexel International Corporation (Phoenix Parentco, Inc.)
9.10.1 Company Overview
9.10.2 Recent strategies and developments:
9.10.2.1 Partnerships, Collaborations, and Agreements:
Companies Mentioned
- IBM Corporation
- Oracle Corporation
- Medpace Holdings, Inc.
- IQVIA Holdings, Inc.
- ICON plc
- PerkinElmer, Inc.
- Parexel International Corporation (Phoenix Parentco, Inc.)
- PPD, Inc. (Thermo Fisher Scientific, Inc.)
- UnitedHealth Group, Inc. (Optum, Inc.)
- Syneos Health, Inc.
Methodology
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