0
2022
Real World Evidence Solutions Market

Real World Evidence Solutions Market

by Components (Data Sets, Consulting Services), by Application (Market Access and Reimbursement Coverage Decisions, Drug Development and Approvals, Post Market Surveillance, Medical Device Development and Approvals, Others), by End User (Pharmaceutical and Medical Device Companies, Healthcare Payers, Healthcare Providers, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031

Report Code: A08294
Pages: 377
Tables: 192
Charts: 68
  • Formats*:

  • pdf

    Single User License, Five User
    License & Enterprise User License

  • xls

    Data Pack Excel License

  • ppt

    It comes with the additional cost
    of $2500.00 contact sales.

 

Real World Evidence Solutions Market Research, 2031

The global Real World Evidence Solutions Market size was valued at $1.4 billion in 2021, and is projected to reach $5 billion by 2031, growing at a CAGR of 13.7% from 2022 to 2031. Real-world evidence is defined as the healthcare data derived from a variety of non-traditional clinical research settings, such as electronic medical records (EMRs), claims and billing information, product and disease registries, and information collected by mobile devices and health apps. The four main sources of collecting real-time data are administrative/claims data, clinical data, patient-generated or reported data and emerging data sources including social media and cross-industry data collaborations such as Project Data Sphere. It is most commonly used by pharmaceutical companies, payors, and providers to better manage their organizations and make decisions about cost-effectiveness and comparative efficacy where other more robust data sources do not exist.

The overall impact of COVID-19 remains positive on real-world evidence solutions market. COVID-19 has transformed the pharmaceutical industry in a manner that few could have predicted only a year ago. One of the potential effects of these changes is the strategic use of real-world evidence to support evidence generation for regulatory approval of clinical trials. In this regard, RWE solutions have proven to be very helpful, as they allow healthcare providers to safely analyze patient health related data from remote location with the help of advanced tools and software and conduct online surveys with the help of mobile applications. Moreover, rapid spread of this disease worldwide has resulted in lockdowns and restrictions, increasing the demand for advanced medical devices and tools. This is expected to increase the adoption of RWE solutions for data analysis and conduct clinical research or trials and smooth conduct of drug development process in the coming years as well.

Real World Evidence Solutions Market, RWE Solutions Market, Real World Evidence Solutions Market size, Real World Evidence Solutions Market share, Real World Evidence Solutions Market trends, Real World Evidence Solutions Market growth, Real World Evidence Solutions Market analysis, Real World Evidence Solutions Market forecast, Real World Evidence Solutions Market opportunity

The key factors that drive Real World Evidence Solutions Market growth are increase in the prevalence of cancer and chronic diseases, which increase the demand for the development of novel drugs and medical devices across the world. In addition, rise in adoption of technological advanced real-world evidence solutions; and increase in number of pipeline drugs are the key factors, which further boost the growth of the market. Moreover, rise in R&D activity rates, government initiatives, improved healthcare infrastructure, and increased funding for research projects across the world further propel the growth of the market. 

In addition, increase in number of key players and the strategies adopted by them, and rise in demand for technologically advanced medical devices to conduct real time surveys and clinical trials propel the growth of the real-world evidence solutions market. 

However, lack of awareness and reluctance to rely on real-world data hampers the market growth. Furthermore, high growth potential in developing economies and rise in focus on end-to-end real-world evidence services are expected to provide lucrative Real World Evidence Solutions Market opportunity during the forecast period.

The global Real World Evidence Solutions Market size was valued at $1.4 billion in 2021, and is projected to reach $5 billion by 2031, growing at a CAGR of 13.7% from 2022 to 2031. The real-world evidence solutions market is segmented on the basis of component, application, end user and region. By component, it is segmented into datasets and consulting services. On the basis of application, it is segmented into market access & reimbursement/coverage decisions, drug development and approvals, post market surveillance, medical device development and approvals and others. By end user, it is segmented into pharmaceuticals and medical device companies, healthcare providers, healthcare payers and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Component Segment review

By component, the RWE Solutions Market is segmented into datasets and consulting services. In 2021, the datasets segment accounted for the largest share of the market. The dominance of this segment can be attributed to rise in prevalence of chronic and autoimmune disorders and the increase in adoption of artificial intelligence-based RWE solutions by pharma companies.

The consulting services segment is anticipated to grow at a significant rate during the forecast period. Owing to increase in the demand for consulting services providers to provide services to ease the drug development process and accelerate the clinical trials process to get fast market approval.

Real World Evidence Solutions Market

Application Segment Review

By application, the RWE Solutions Industry is segmented into market access & reimbursement/coverage decisions, drug development and approvals, post-market surveillance, medical device development and approvals, and others. The market access & reimbursement/coverage decisions segment exhibited the highest Real World Evidence Solutions Market share in 2021, and is anticipated to lead during the forecast period.

Real World Evidence Solutions Market

The drug development approvals segment is anticipated to grow at a significant rate during the forecast period owing to an increase in the prevalence of chronic diseases and rise in demand for novel drug development therapies and medical devices, which increase the demand for drug approvals process by using real-world evidence solutions.

End User Segment Review

By end user, the pharmaceutical and medical device companies segment was the highest revenue contributor to the market owing to rise in prevalence of chronic diseases and an increase in R&D activities.

The healthcare payers are expected to witness considerable market growth during the forecast period, owing to increase in number of service providers and rise in the adoption of technologically advanced real-world evidence solutions.

Real World Evidence Solutions Market

Region Segment Review

Region wise, the real-world evidence solutions market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for a majority of the real-world evidence solutions market share in 2021 and is anticipated to remain dominant during the forecast period owing to increase in demand for real-world evidence-based solutions or services, the shift toward value-based care instead of volume and the strategies they adopt for their product development.

Asia-Pacific was the second largest contributor to the market in 2021, and is expected to register the fastest CAGR during the forecast period, owing to rise in geriatric population and increase in the prevalence of cancer and other chronic diseases across the region.

Real World Evidence Solutions Market

The key players that operate in the real-world evidence solutions market are Clarivate PLC, Clinigen Group PLC, Cognizant Technology Solution Corporation, Elevance Health Inc, Flatiron Health, IBM Corporation, ICON PLC, IQVIA, Medpace Holding Corporation, Oracle Corporation, Parexel International Corporation, Perkin Elmer Inc, SAS Institute Inc, Symphony Innovation LLC, and Syneos Health Inc.

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the real world evidence solutions market analysis from 2021 to 2031 to identify the prevailing real world evidence solutions market opportunities.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the real world evidence solutions market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global real world evidence solutions market trends, key players, market segments, application areas, and market growth strategies.

Real World Evidence Solutions Market Report Highlights

Aspects Details
By Components
  • Data Sets
    • Type
      • Disparate Datasets
      • Integrated Datasets
  • Consulting Services
By Application
  • Market Access and Reimbursement Coverage Decisions
  • Drug Development and Approvals
    • Type
      • Oncology
      • Neurology
      • Immunology
      • Cardiovascular Diseases
      • Others
  • Post Market Surveillance
  • Medical Device Development and Approvals
  • Others
By End User
  • Pharmaceutical and Medical Device Companies
  • Healthcare Payers
  • Healthcare Providers
  • Others
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, France, UK, Italy, Spain, Rest of Europe)
  • Asia-Pacific  (Japan, China, Australia, India, South Korea, Rest Of Asia Pacifc)
  • LAMEA  (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
Key Market Players Perkin Elmer Inc, Parexel International Corporation, Cognizant Technology Solutions Corp., IBM Corporation, Symphony Innovation LLC, IQVIA, Medpace Holding Corporation, Flatiron Health, Clinigen Group plc, Clarivate plc, Oracle Corporation, SAS Institute Inc, Elevance Health Inc, Syneos Health Inc, ICON PLC
 

Loading Table Of Content...


 
 

This section provides various opinions of top-level CXOs in the real-world evidence solutions market. In accordance with several interviews conducted, the real-world evidence solutions market is expected to witness significant growth in the future, owing to increase in demand for real-world evidence services for clinical research activities, drug development, increase in healthcare expenditure and high number of RWE service providers.

According to the perspectives of CXOs, the global real-world evidence solutions market is expected to witness a steady growth in the future. Rise in geriatric population and increase in number of chronic and various other diseases, the adoption of technologically advanced devices and services, growth in healthcare expenditure are the key factors drives the growth of the market. However, the reluctance to rely on real-world data or studies is expected to hamper the growth of the market up to some extent over the forecast period.

On the contrary, increasing in the number of RWE service providers and increase in need of end-to-end RWE services, are expected to provide opportunities for the growth of the global real-world evidence solutions market in future.

Further, North America is expected to witness highest growth, in terms of revenue, owing to the increase in demand for real-world evidence-based solutions or services, the shift toward value-based care instead of volume and rise in adoption of various strategies by key players for product development in the region are the factors that propel the growth of the market.

Asia-Pacific was the second largest contributor to the market in 2021, and is expected to register the fastest CAGR during the forecast period, owing to rise in prevalence of chronic diseases and increase in geriatric population and rise in number of market players that provide RWE services for the smooth conduct of drug development process or clinical trials.

Purchase Options

Call or Email Us

U.S.-Canada Toll-free: +1-800-792-5285
Int'l : +1-503-894-6022
Europe : +44-845-528-1300
Email : help@alliedmarketresearch.com
 
Published Date :
Sep 2022
Author(s) : Vikita T , Onkar S
FREQUENTLY ASKED QUESTIONS?

A. The upcoming trends are are increase in prevalence of cancer and chronic diseases, which increase the demand for the development of novel drugs and medical devices across the world.

A. North America is the largest regional market for Real World Evidence Solutions

A. The global real-world evidence solutions market was valued at $1,369.3 million in 2021

A. Clarivate PLC, Clinigen Group PLC, Cognizant Technology Solution Corporation, Elevance Health Inc, Flatiron Health, IBM Corporation are the top companies to hold the market share in Real World Evidence Solutions

A. o, there is no value chain analysis provided in Real World Evidence Solutions report.

A. 2021 base year calculated in the Real World Evidence Solutions Market report

A. The global real-world evidence solutions market is projected to reach $4,993.24 million by 2031, registering a CAGR of 13.7% from 2022 to 2031

Looking for Customization?

 Customization Request

Have a Question?

 Speak with Analyst

Any Confusion?

 Inquire Before Buying

Have a glance of the Report

  Request Sample
Related Tags

Purchase Full Report of
Real World Evidence Solutions Market

Start reading instantly.
This Report and over 71,295+ more Reports, Available with Avenue Library. T&C*.

  • Online Only
  • $3,840
  • Online cloud access only
  • Restricted print, copy, paste & download
  • Read only
  • Free industry update
    (Within 180 days)
  • Free report update in next update cycle
    (Sep 2023 - Sep 2024)
  • Data Pack
  • $4,380
  • Restricted to one authorized user
  • One print only
  • Available in
    Excel
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
    (Sep 2023 - Sep 2024)
  • Single User
  • $6,090
  • Restricted to one authorized user
  • One print only
  • Available in
    PDF
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
    (Sep 2023 - Sep 2024)
  • Five Users
  • $6,630
  • Limited to five authorized users
  • Print upto five copies
  • Available in
    PDF
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
    (Sep 2023 - Sep 2024)
  • Enterprise
    License/PDF

  • $10,500
  • Unlimited
    within
    company/enterprise
  • Available in Excel & PDF
  • Free industry update
    (Within 180 days)
  •   Free report update in next update cycle
    (Sep 2023 - Sep 2024)
  • Library
    Membership

  • $999 $ 1,175
    Per User/ Per month/ Billed annually
  • Published Content
    E-access
  • Company Profiles
    E-access
  • Newly Added Content Access
  • 10 PDF
    Downloads
  • 5 Excel Data
    Pack Downloads
  • 250 Company Profiles PDF Downloads
  • Buy Now

*Taxes/Fees, if applicable will be added during checkout. All prices in USD

Related Reports
 

Why Allied Market Research?

 

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of the scope of the report to exactly meet your needs

Targeted Market View

Targeted market view to provide pertinent information and save time for readers

Get fresh content delivered

Get insights on topics that are crucial for your business. Stay abreast of your interest areas.

Get Industry Data Alerts

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of the scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save the time of readers