{"id":9272,"date":"2018-10-05T12:14:37","date_gmt":"2018-10-05T12:14:37","guid":{"rendered":"https:\/\/www.rootsanalysis.com\/blog\/?p=9272"},"modified":"2026-08-10T19:12:26","modified_gmt":"2026-08-10T13:42:26","slug":"real-world-evidence-gearing-up-to-revolutionize-drug-discovery-process","status":"publish","type":"post","link":"https:\/\/www.rootsanalysis.com\/blog\/real-world-evidence-gearing-up-to-revolutionize-drug-discovery-process\/","title":{"rendered":"RWE: Unearthing the Gold Mine"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Estimates suggest that each prescription drug requires an average of about 10 years and over USD 2.5 billion in working capital before it gets commercialized. In order to gain regulatory approval and establish standards for the safety and efficacy of these products, randomized clinical trials (RCTs) are conducted; these account for a staggering 40% of the pharmaceutical industry\u2019s budget. In addition to excessive R&amp;D costs, these trials are fraught with various other challenges, such as prolonged delays and risk of failure \/ termination. <a href=\"https:\/\/www.rootsanalysis.com\/reports\/pharmaceutical-real-world-evidence-market\/228.html\">Real world evidence<\/a> (RWE) has demonstrated the potential to validate the therapeutic value of pharmaceutical products and help customize product development in a more patient centric manner. In December 2016, the 21st Century Cures Act was passed directing the FDA to evaluate the applications of RWE in supporting healthcare decision-making. Its numerous applications have further encouraged <a href=\"https:\/\/www.rootsanalysis.com\/reports\/biopharmaceutical-contract-manufacturing-market\/250.html\">biologics contract manufacturing<\/a> companies and health economists to utilize it in the evaluation of product candidates targeting even the rarest of medical conditions.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>The gradual shift towards value based healthcare is evident from the growing number of conferences \/ other events related to the importance and applications of RWE<\/strong>.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>The rising interest in this field is also apparent in the opinions expressed by several industry \/ academic stakeholders on social media platforms, such as Twitter<\/strong>.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Currently, about 200 industry players are actively offering a wide array of data collection and analytics solutions for generating insights based on RWE from a variety of sources<\/strong><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"672\" height=\"445\" src=\"https:\/\/www.rootsanalysis.com\/blog\/wp-content\/uploads\/2023\/10\/Real-World-Evidence-Market-Key-Industry-Players-Roots.webp\" alt=\"As per Roots Analysis, Over 60% of sources of real world data is from clinical setting followed by 57% patient powered.\" class=\"wp-image-17993\" style=\"object-fit:contain;width:800px;height:530px\" srcset=\"https:\/\/www.rootsanalysis.com\/blog\/wp-content\/uploads\/2023\/10\/Real-World-Evidence-Market-Key-Industry-Players-Roots.webp 672w, https:\/\/www.rootsanalysis.com\/blog\/wp-content\/uploads\/2023\/10\/Real-World-Evidence-Market-Key-Industry-Players-Roots-300x199.webp 300w\" sizes=\"auto, (max-width: 672px) 100vw, 672px\" \/><\/figure>\n<\/div>\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>The market landscape is fragmented, featuring several new entrants, small- and mid-sized players, providing real world data related services to the pharma and life science industries<\/strong><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"672\" height=\"432\" src=\"https:\/\/www.rootsanalysis.com\/blog\/wp-content\/uploads\/2023\/10\/Real-World-Evidence-Current-Market-Landscape-Roots.webp\" alt=\"Around 45% of players are service providers followed by 39% of analytics providers.\" class=\"wp-image-17994\" style=\"object-fit:contain;width:800px;height:512px\" srcset=\"https:\/\/www.rootsanalysis.com\/blog\/wp-content\/uploads\/2023\/10\/Real-World-Evidence-Current-Market-Landscape-Roots.webp 672w, https:\/\/www.rootsanalysis.com\/blog\/wp-content\/uploads\/2023\/10\/Real-World-Evidence-Current-Market-Landscape-Roots-300x193.webp 300w\" sizes=\"auto, (max-width: 672px) 100vw, 672px\" \/><\/figure>\n<\/div>\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>North America, with companies offering novel approaches \/ RWE insights to diverse problems, is presently a major hub of real word evidence-based research<\/strong>.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Such insights are expected to significantly augment healthcare decision-making, given the potential to address a variety of current and future needs of stakeholders<\/strong>.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>In fact, between January 2016 and June 2018, ~500 scientific articles were published, highlighting relevant data sources and novel application areas<\/strong>.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Pharmaceutical \/ medical device companies are already leveraging real world data insights for end-to-end product development and product lifecycle management<\/strong>.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Over 1,000 real world clinical studies have been registered across the globe; cardiovascular, oncological and neurological disorders have emerged as key focus areas<\/strong><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"672\" height=\"436\" src=\"https:\/\/www.rootsanalysis.com\/blog\/wp-content\/uploads\/2023\/10\/Real-World-Evidence-Clinical-Trials-Roots.webp\" alt=\"Over 1,000 clinical trials have been registered for real world evidences across various regions of the globe. Europe being the largest share holder.\" class=\"wp-image-17995\" style=\"object-fit:contain;width:800px;height:515px\" srcset=\"https:\/\/www.rootsanalysis.com\/blog\/wp-content\/uploads\/2023\/10\/Real-World-Evidence-Clinical-Trials-Roots.webp 672w, https:\/\/www.rootsanalysis.com\/blog\/wp-content\/uploads\/2023\/10\/Real-World-Evidence-Clinical-Trials-Roots-300x195.webp 300w\" sizes=\"auto, (max-width: 672px) 100vw, 672px\" \/><\/figure>\n<\/div>\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>We expect the <a href=\"https:\/\/www.rootsanalysis.com\/reports\/pharmaceutical-real-world-evidence-market\/228.html\">real world evidence solutions market<\/a> to grow at an annualized rate of ~14.1% over the next decade; the opportunity is likely to be well distributed across different application areas and geographies<\/strong>.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Estimates of future revenue generation potential indicate that the shares of oncological disorders and clinical setting data are anticipated to be high in the mid-long term<\/strong><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"672\" height=\"449\" src=\"https:\/\/www.rootsanalysis.com\/blog\/wp-content\/uploads\/2023\/10\/12.webp\" alt=\"The overall real world evidence market is fragmented across different segments including therapeutic areas and sources of data being the prominent one.\" class=\"wp-image-17996\" style=\"object-fit:contain;width:800px;height:536px\" srcset=\"https:\/\/www.rootsanalysis.com\/blog\/wp-content\/uploads\/2023\/10\/12.webp 672w, https:\/\/www.rootsanalysis.com\/blog\/wp-content\/uploads\/2023\/10\/12-300x200.webp 300w\" sizes=\"auto, (max-width: 672px) 100vw, 672px\" \/><\/figure>\n<\/div>\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p class=\"wp-block-paragraph\">To learn more, please click <a href=\"https:\/\/www.rootsanalysis.com\/reports\/view_document\/real-world-evidence-market-landscape-and-competitive-insights-2018-2030-\/228.html\">Real World Evidence Solutions Market<\/a>. For any queries \/ suggestions, please do not hesitate to contact us at <a href=\"mailto:sales@rootsanalysis.com\">sales@rootsanalysis.com<\/a>. You can also download the&nbsp;<a href=\"https:\/\/www.rootsanalysis.com\/reports\/228\/request-sample.html\">SAMPLE REPORT<\/a>&nbsp;on RWE by Roots Analysis.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Our Social Media Platform<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">LinkedIn:&nbsp;<a href=\"https:\/\/in.linkedin.com\/company\/roots-analysis\">https:\/\/in.linkedin.com\/company\/roots-analysis<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Twitter:&nbsp;<a href=\"https:\/\/twitter.com\/RootsAnalysis\">https:\/\/twitter.com\/RootsAnalysis<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Estimates suggest that each prescription drug requires an average of about 10 years and over USD 2.5 billion in working capital before it gets commercialized. In order to gain regulatory approval and establish standards for the safety and efficacy of these products, randomized clinical trials (RCTs) are conducted; these account for a staggering 40% of [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":19163,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[106,98],"tags":[203,52,231],"class_list":["post-9272","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-contract-research-organizations","category-healthcare","tag-biotech","tag-healthcare","tag-pharmaceutical"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Real World Evidence (RWE) : Unearthing the Gold Mine<\/title>\n<meta name=\"description\" content=\"According to Roots Analysis, the RWE solutions market to grow at an annualized rate of ~14.1% over the 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