Rising Adoption of Wearable Devices and Artificial Intelligence in RWD Creates Opportunities in the Market According to a new market research report titled, “ Real - world Data Market by Source (EMR, Claims, Pharmacy, Disease Registries), Application [Market Access, Drug Development & Approvals (Oncology, Neurology), Post - market Surveillance], and End User (Pharma, Payers) – Global Forecast to 2029” , published by Meticulous Research®, the real - world data market is expected to grow at a CAGR of 8.2% from 2022 to 2029, to reach $2 billion by 2029. Download Free Sample Report Now @ https://www.meticulousresearch.com/download - sample - report/cp_id=5297 Real - world data drives healthcare and research discussions & decisions by providing evidence that regulators, payers, and providers demand. RWD is used by pharmaceutical, biotechnology, & medical device companies; healthcare payers; healthcare providers; a nd other end users (academic research institutions, patient advocacy groups, regulators, and health technology assessment agencies) to add value at every stage of the drug development lifecycle from understanding unmet healthcare needs and defining the pat ient journey to supporting regulatory submissions and post - market studies, offering value to payers, and defining market strategies. The growth of this market is driven by key factors such as rapidly growing big data in healthcare, shift from volume to val ue - based care, growing adoption of artificial intelligence (AI) in RWD studies, and rising focus on personalized healthcare. Speak to our Analysts to Understand the Impact of COVID - 19 on Your Business: https://www.meticulousresearch.com/speak - to - analyst/cp_id=5297 RWD market: Future Outlook The global RWD market is segmented based on Source (EMR/EHR/Clinical Data, Claims & Billing Data, Pharmacy Data, Product/Disease Registries Data, Genomics Data, and Other Datasets), Application (Market Access & Reimbursement/Coverage Decisions, Drug Develo pment & Approvals, Post - market Surveillance, Medical Device Development & Approvals, and regulatory and clinical decision - making), End User (Pharmaceutical, Biotechnology, and Medical Device Companies, Healthcare Payers, Healthcare Providers, and Other End Users), and Geography (North America, Asia - Pacific, Europe, Latin America, and the Middle East & Africa). The study also evaluates industry competitors and analyzes their market share at the global and regional levels. Based on source, in 2022, the EMR/EHR/clinical data segment is estimated to account for the largest market share of the RWD market, owing to the significant amounts of data generated in hospitals, the increasing adoption of EHR/EMR in hospitals, and the in creased use of clinical data for RWE generation. However, the pharmacy data segment is projected to show the fastest growth rate during the forecast period. The evolution of the pharmaceutical industry due to the increasing geriatric population and cases o f chronic diseases have increased the R&D departments’ burden of developing disease - specific medications such as oncological and neurological drugs. The development of pharmaceutical drugs requires evidence - based data to understand disease epidemiology, pa tient journey, real - world use, the effectiveness of treatment options, unmet patient needs, and the value that products offer in sub - populations. The increasing amount of pharmacy data and growing focus on e - prescriptions can serve as a real - world data sou rce to help guide local commercial strategic planning and market access strategy, provide data - driven insights to aid the payers’ and HTAs’ decision - making, maximize payer coverage, and improve patient outcomes. Quick Buy – Real - world Data (RWD) Market Research Report: https://www.meticulousresearch.com/Checkout/62327099 Based on application, in 2022, the market access & reimbursement/coverage decisions segment is estimated to account for the largest market share of the RWD market. The large market share of this segment is primarily attributed to the increasing demand for real - world data to accelerate drug discovery & development and deliver a value - based price. However, the drug development & approvals segment is projected to show the fastest growth rate during the forecast period. Factors attributing to the growth of this segment are increasing demand for real - world data to enhance drug discovery and development and increasing investments by biopharmaceutical companies in R&D. In the field of drug development, quality - of - life metrics, and Patient - Reported Outcome Measures (PROMs) are now becoming common clinical trial elements. The real - world data is regularly utilized to inform aspects of drug development. The adoption of AI in drug development & approval processes is also driving the demand for RWD. AI integrated RWD stud ies are conducted in various stages of the drug development process, such as for designing clinical trials, modeling, and forecasting patient enrichment and recruitment using multiple RWD sources, selecting investigator sites, patient monitoring & managing and medication adherence & retention, market access, and post - market surveillance. Based on end user, the pharmaceutical, biotechnology, and medical device companies segment is projected to show the fastest growth rate during the forecast period. Rising pharmaceutical R&D spending is attributed to the growth of this segment. The cost of developing a new drug was more than USD 2,600 million in 2020 compared to USD 802 million in 2003. This increase in drug development costs reflects various technical, regulatory, and economic challenges pharmaceutical R&D pipelines face. The global R&D spending in 2021 sur ged by 7.0% (USD 212 billion) compared to 2020. Real - world data helps understand real - life clinical practices and actual health outcomes of drugs. It also helps generate broader scientific evidence and commercial insights, valuable for the pharmaceutical i ndustry. Based on geography, in 2022, North America is expected to command the largest market share of the real - world data market. This region's large market share is attributed to the increasing prevalence of chronic diseases, stringent regulations for drug approv als, implementation of the 2 1 st Century Cures Act, availability of electronic datasets, advanced healthcare industry, and rising big data in healthcare. The adoption of EHRs in hospitals and patient registries is boosting the RWD market in North America. Basic EHR adoption has increased in the U.S. from 27.9% in 2010 to nearly 86% in 2017. As of 2021, around 94% of the hospitals in the US already have EHR or are in the process of adopting EHR. Key companies operating in the global RWD Market are Anthem, Inc. (U.S.), IQVIA Holdings Inc. (U.S.), ICON plc (Ireland), PPD Inc. (U.S.), Clinigen Group plc (U.K.), Cognizant Technology Solutions Corporation (U.S.), Oracle Corporation (U.S.), PAREXEL Inte rnational Corporation (U.S.), PerkinElmer, Inc. (U.S.), SAS Institute Inc. (U.S.), UnitedHealth Group Incorporated (U.S.), and Flatiron Health, Inc. (U.S.). 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