Overview and Scope
Real-world evidence refers to the clinical evidence regarding the usage and potential benefits or risks of a medical product derived from the analysis of real-world data.
Sizing and Forecast
The real world evidence solutions market size has grown rapidly in recent years. It will grow from <b>$1.75 billion in 2023 to $2.02 billion in 2024 at a compound annual growth rate (CAGR) of 15.3%. </b> The growth in the historic period can be attributed to growth in pharmaceutical and healthcare sectors, demand for post-market surveillance and drug safety, expansion of electronic health records and data, adoption in clinical research and outcomes assessment, regulatory standards for real-world evidence (rwe)..
The real world evidence solutions market size is expected to see rapid growth in the next few years. It will grow to <b>$3.58 billion in 2028 at a compound annual growth rate (CAGR) of 15.4%. </b> The growth in the forecast period can be attributed to customized rwe solutions for specific therapeutic areas, expansion of real-world data networks, innovation in real-world evidence generation, adoption of rwe in drug development and access, collaboration between healthcare and technology sectors.. Major trends in the forecast period include ai-driven predictive analytics in rwe, regulatory compliance in rwe data privacy and security, personalized rwe solutions for healthcare providers, transparency in data sharing and rwe findings, integration of rwe in drug pricing and reimbursement..
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Segmentation & Regional Insights
The real world evidence solutions market covered in this report is segmented –
1) By Component: Services, Data Sets, Clinical Setting Data, Claims Data, Pharmacy Data, Patient Powered Data
2) By Therapeutic Area: Oncology, Cardiovascular, Neurology, Immunology, Other Therapeutic Areas
3) By Application: Drug Development And Approvals, Medical Device Development And Approvals, Reimbursement/Coverage And Regulatory Decision Making, Post Market Safety And Adverse Events Monitoring
4) By End-Users: Pharmaceutical And Medical Devices Companies, Healthcare Providers, Healthcare Payers, Other End-Users
<b>North America</b> was the largest region in the real world evidence solutions market in 2023. <b>Asia-Pacific</b> is expected to be the fastest-growing region in the real world evidence solutions market share during the forecast period. The regions covered in the real world evidence solutions market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The growing geriatric population is expected to propel the growth of the real-world evidence solutions market. The geriatric population refers to people aged 65 and over, who are at higher risk of falling for several reasons, including postural hypotension, and balance or gait impairment. Aging increases the threat of chronic diseases such as strokes, cardiovascular diseases, type 2 diabetes, arthritis, and cancer. For instance in October 2022, according to the data released by the World Trade Organization, a US-based international organization, from 2020 to 2021, the proportion of the population aged 60 and up increased from 1 billion to 1.4 billion. By 2050, the world’s population of adults aged 60 and up will have doubled (to 2.1 billion). The number of people aged 80 or more is predicted to treble between 2020 and 2050, reaching 426 million. Therefore, the growing geriatric population is driving the growth of the real-world evidence solutions market.
Key Industry Players
Major companies operating in the real world evidence solutions market include <b> Anthem Inc., Cegedim Health Data, Clarivate PLC, Clinigen Group, Cognizant Technology Solutions Corporation, Flatiron Health Inc., International Business Machines Corporation, ICON plc, IQVIA Holdings Inc., Medpace Holdings Inc., Optum Inc., Oracle Corporation, PAREXEL International Corporation, PerkinElmer Inc., PPD Inc., SAS Institute Inc., Syneos Health, Symphony Innovation LLC, UnitedHealth Group Incorporated, Amerisource Bergen Corporation, Cardinal Health, Deloitte Touche Tohmatsu Limited, Informa PLC, Palantir Technologies, UDG Healthcare PLC, Thermo Fisher Scientific Inc., Elevance Health Inc., Covance Consulting Ltd., Clinipace Worldwide, Evidera Inc., Pharmerit International, Analysis Group Inc., HealthCore Inc., Inovalon Holdings Inc., KMK Consulting Inc. </b>
The real world evidence solutions market report table of contents includes:
1. Executive Summary
2.Real World Evidence Solutions Market Characteristics
3.Real World Evidence Solutions Market Trends And Strategies
4.Real World Evidence Solutions market analysis
5.Real World Evidence Solutions Market Size And Growth
6. Real World Evidence Solutions Segmentation
7.Real World Evidence Solutions Regional And Country Analysis
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27.Real World Evidence Solutions Competitive Landscape And Company Profiles
28.Real World Evidence Solutions Key Mergers And Acquisitions
29.Real World Evidence Solutions Future Outlook and Potential Analysis
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