Real-world Data Market Predicted to Surpass $1.66 Billion by 2029, with a Projected CAGR of 7.4%
Author : Jyoti Pansare | Published On : 19 Mar 2024
Meticulous Research®, a leading provider of market research reports, has released its latest publication on the Real-world Data (RWD) Market, forecasting a substantial growth trajectory. The report anticipates the market to achieve a Compound Annual Growth Rate (CAGR) of 7.4% from 2022 to 2029, ultimately reaching $1.66 billion by 2029. This surge is attributed to several key factors driving the industry forward.
Factors fueling the growth of the real-world data market include the escalating burden of chronic diseases, prolonged timelines in drug development accompanied by soaring development costs, the escalating focus on personalized healthcare solutions, the transition towards value-based care models, and the exponential expansion of big data within the healthcare sector. However, despite these opportunities, the market faces challenges, notably the absence of standardized methodologies hindering the development of real-world data solutions.
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Top 10 Companies Leading the Real-world Data (RWD) Market :
In this dynamic landscape, several companies stand out as pioneers, driving innovation and shaping the trajectory of the real-world data market. Here are the top 10 companies making significant strides in this sector:
IQVIA Holdings Inc. (U.S.) - A frontrunner in advanced analytics, technology solutions, and contract research services, IQVIA empowers life sciences companies with critical information and real-world data solutions, facilitating post-approval studies and disease registries.
PPD Inc. (U.S.) - PPD provides integrated drug development and laboratory services, offering real-world evidence solutions to advance drug development programs and facilitate post-approval observations.
ICON plc (Ireland) - Specializing in consulting, clinical development, and commercialization services, ICON offers a comprehensive suite of solutions, including real-world evidence strategy & analytics, catering to pharmaceutical and biotechnology companies globally.
Parexel International Corporation (U.S.) - Parexel delivers clinical research services and real-world data sciences, assisting clients with business consulting, study optimization, and real-world evidence generation.
UnitedHealth Group Incorporated (U.S.) - With a diversified portfolio spanning health benefits and health services, UnitedHealth Group leverages its Optum segment to provide real-world data solutions, optimizing healthcare system performance.
Top 10 Companies Leading the Real-world Data (RWD) Market : https://meticulousblog.org/top-10-companies-in-real-world-data-rwd-market/?utm_source=blog&utm_medium=social&utm_campaign=product&utm_term=19-03-2024
Flatiron Health, Inc. (U.S.) - A healthcare technology and services company, Flatiron Health collaborates with cancer practices and research centers, leveraging real-world data to accelerate cancer research and improve patient care.
Oracle Corporation (U.S.) - Oracle's Health Sciences software offers real-world evidence solutions, aiding clinical data managers and biostatisticians in leveraging data for actionable insights.
SAS Institute Inc. (U.S.) - SAS Institute provides end-to-end capabilities in data management and advanced analytics, empowering organizations in various industries, including healthcare, to generate clinical and scientific evidence.
Elevance Health, Inc. (U.S.) - Formerly known as Anthem, Inc., Elevance Health delivers health benefit solutions and real-world evidence services through its subsidiary HealthCore, Inc., catering to life science companies and healthcare stakeholders.
Clinigen Group plc (U.K.) - Clinigen Group offers real-world evidence solutions and services to capture anonymized data, providing unique insights into patient diagnosis and treatment in real-world settings.
These companies exemplify excellence and innovation in harnessing real-world data to drive advancements in healthcare and pharmaceutical research.
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