Product ID: SQMIG35I2180
Report ID:
SQMIG35I2180 |
Region:
Global |
Published Date: April, 2024
Pages:
242
|
Tables:
90 |
Figures:
76
Real World Evidence Solutions Market Driver
The median cost of releasing a new drug onto the market was reported in a study by the Tufts Center for the Study of Drug Development (CSDD), which was significantly less expensive than earlier research. According to the study’s findings, a further USD 312 million is spent on post-approval development for a lifecycle, which includes tests of new indications, formulations, and dosage strengths. Companies have the chance to use RWE earlier in the product lifecycle to help expedite development and reduce costs as the amount of RWD rises and its accessibility increases.
Real World Evidence Solutions Market Restraint
Even though the use of RWE is growing quickly, some stakeholders are still hesitant to rely on them. For instance, although payers have begun employing RWE, they prefer to use internal observational data from randomised clinical trials (RCTs) to influence drug coverage choices. This is mostly due to the existence of numerous standards and techniques for conducting analyses using data from actual clinical experiences.
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REQUEST FREE CUSTOMIZATIONGlobal Real World Evidence Solutions Market size was valued at USD 2.26 billion in 2019 and is poised to grow from USD 2.45 billion in 2023 to USD 4.97 billion by 2031, growing at a CAGR of 8.2% in the forecast period (2024-2031).
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Product ID: SQMIG35I2180