New Trends in Real-World Data Utilization and Vendor Dynamics
A recent survey conducted by Merative and BioPharma Dive reveals significant insights into the evolving preferences and predictions of biopharma and medical device executives regarding real-world data (RWD) utilization. The survey highlights a notable industry trend towards prioritizing data completeness and longitudinal patient information over real-time access and international representation.
With input from 150 executives, the findings indicate a broad application of RWD across all stages of research, development, and commercialization, with a remarkable 76% of respondents emphasizing the importance of data completeness. A majority of these executives express a willingness to delay data access to ensure its accuracy, showcasing a preference for quality and integrity over immediacy.
Another significant insight from the survey is the expected consolidation of RWD vendors. Despite currently engaging with multiple specialized partners, 90% of executives foresee a move towards consolidating these relationships by 2028. This shift aims at streamlining operations and potentially reducing costs, suggesting a growing preference for versatile vendors capable of offering comprehensive data and analytics services.
These trends underscore a strategic pivot in the biopharma and medical device sectors towards valuing quality RWD and efficient vendor partnerships. This shift is deemed critical for driving evidence-based decision-making and achieving market success. For a more detailed analysis of the current and future state of RWD in the health industry, the full report is available for download.