Description
The US healthcare industry’s transition to a patient-centric model is moving rapidly with focus on outcomes and value; however, drug prices have increased and pharmaceutical research and development (R&D) productivity is at its lowest. The healthcare industry and IT solutions providers are finding real-world evidence (RWE) as a potential solution to face these headwinds. The expansive data pools created by public-private efforts in combination with emerging technologies such as artificial intelligence (AI) and cloud capabilities is driving growth within the evidence-based medicine space.
In this report, the Transformational Health team at Frost & Sullivan provides critical insights into the US RWE IT solutions market, highlighting the key growth opportunities, market revenue forecast, and trends that will play an important role in driving industry growth. RWE has become the focus for pharmaceutical and biotechnology companies, health technology assessment boards, the Food and Drug Administration (FDA), as well as payers and providers. Also covered in this study are technology trends, the competitive environment, and a capability benchmarking of select market participants.
Readers of this analysis, including IT solutions providers, private investors, academics, and government healthcare agencies, will find it useful to understand the status and revenue potential linked to the US RWE IT solutions market. This research service identifies the largest revenue-generating as well as the fastest-growing application and service segments in the US RWE industry. Furthermore, the impact of the COVID-19 pandemic on overall market revenue potential is discussed.
Finally, Frost & Sullivan’s Transformational Health group offers a discussion of key growth opportunities that are centered on use of AI for clinical trial data management, utilization of cloud for improving commercial effectiveness, and connected digital products in clinical and post-market safety surveillance.
Overall, this study delivers insightful analysis of the RWE IT solutions ecosystem, a preview of the participants and competitive landscape, and the top growth opportunities—all elements essential to support stakeholders in their strategic decision journey.
Author: Amol Dilip Jadhav
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