IMARC Group, a leading market research company, has recently releases report titled “Real-World Evidence Solutions Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global real-world evidence solutions market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
What is Real-World Evidence Solutions Market
Real-world evidence (RWE) represents clinical evidence about the usage and potential benefits or risks of medical products through real-world data (RWD). It can be produced via several study designs or analysis, such as randomized trials, big simple trials, pragmatic trials, observational studies, etc. Real-world evidence provides insight into real-world treatment patterns in patient groups, including dosing, compliance, adherence, off-label use, etc., and the balance between efficacy and safety. It can also help researchers in discovering possible patients and developing correct inclusion criteria for clinical trials, which can aid them in designing better pre-trial studies.
How Big Is the Real-World Evidence Solutions Market?
The global real-world evidence solutions market size reached US$ 1.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.7 Billion by 2028, exhibiting a growth rate (CAGR) of 8.57% during 2023-2028.
What Are the Growth Prospects and Trends in The Real-World Evidence Solutions Industry?
The escalating demand for RWE solutions in order to obtain precise and clear information about the efficacy and safety of new products is among the key factors augmenting the real-world evidence solutions market. Furthermore, the elevating requirement for these solutions to detect varied reactions, item subpopulation effects, and product value when used by complex and comorbid patients is acting as another significant growth-inducing factor. Moreover, the growing healthcare sector is also bolstering the global market. Besides this, the increasing utilization of advanced analytics and technological solutions in RWE for clinical developments, commercialization, speed innovations, and accelerating improvements in healthcare outcomes is further catalyzing the market growth. Additionally, the expanding usage of RWE solutions by numerous government bodies of various countries to monitor the efficacy of drugs and vaccines is also driving the global market. Apart from this, the shifting preferences from volume to value-based care are fueling the market growth. Furthermore, the inflating digitalization levels and the emerging trend of patient-centered virtual care are expected to positively influence the real-world evidence solutions market in the coming years.
What is included in market segmentation?
The report provides detailed segmentation of the global real-world evidence solutions market based on based on component, therapeutic area and end user and region.
Breakup by Component:
- Clinical Settings Data
- Claims Data
- Patient-Powered Data
- Pharmacy Data
- Others
Breakup by Therapeutic Area:
- Oncology
- Immunology
- Neurology
- Cardiovascular Disease
- Others
Breakup by End User:
- Pharmaceutical and Medical Device Companies
- Healthcare Payers
- Healthcare Providers
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
The report provides a comprehensive analysis of the industry key players listed below:
Aetion Inc., Clinigen Limited, Flatiron Health Inc. (Roche Holding AG), ICON plc, International Business Machines Corporation, IQVIA, Optum Inc. (UnitedHealth Group Incorporated), Oracle Corporation, Parexel International Corporation, PPD Inc. (Thermo Fisher Scientific Inc.), Sas Institute Inc. and Syneos Health.