The Asia Pacific Real World Evidence Solutions Market would witness market growth of 9.0% CAGR during the forecast period (2022-2028).
The major pharmaceutical companies use a clinico-genomic database containing tumor sequencing data for cancer discovery investigations and the development of targeted drugs. As a result, businesses are able to perform a modest number of clinical trials for the uncommon biomarker-defined group while also expanding their range of indications. Thus, it shows that the market for real-world evidence solutions will rise in the coming years.
RWE can add patient-generated data, like biometric data or patient-reported outcomes (PROs), that is simpler to obtain between doctor visits to traditional outcome measurements during clinical studies. RWE is able to monitor quality and result metrics across organizations. For example, RWE can notify administrators of the benchmarking performance of their physicians and the performance of their overall health system compared to others.
This information can improve quality-based reimbursement schemes that honor good results and can assist payers and consumers in having more informed coverage discussions. Clinical registries, like the patient, product, and claims registries, are rich sources of RWD addition to that. They are essential resources for producing RWE and utilizing it to facilitate post-market investigation and surveillance.
Using RWE for regulatory & reimbursement decision-making is a journey that governments and regulators around the Asia Pacific are at various levels of. To show RWE's advantages and capabilities, some have already released formal advice and are moving on with pilot projects. Others are still in the initial phases of those approaches. Due to China's growing need for empirical data to support healthcare decisions, many new data sources have developed. Health economics, epidemiology, and outcomes research have not comprehensively assessed the real-world healthcare data sources that are currently available. Thus, the increased utilization of real world evidence in healthcare sector is driving the growth of Asia Pacific real world evidence solutions market.
The China market dominated the Asia Pacific 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 $4,657.7 million by 2028.The Japan market is estimated to grow a CAGR of 8.4% during (2022 - 2028). Additionally, The India market would experience a CAGR of 9.7% 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 China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Real World Evidence Solutions Market is Projected to reach USD 65.1 Billion by 2028, at a CAGR of 8%
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.
By Component
By Therapeutic Area
By End-user
By Application
By Country
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