The global real-world evidence solutions Market size reached US$ 1.41 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 3.01 Billion by 2027 exhibiting a CAGR of 12.70% during 2022-2027.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Industry Definition and Application:
Real-world evidence (RWE) represents clinical evidence about the use 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.
Real-World Evidence Solutions Market Trends And Drivers:
The escalating demand for RWE solutions to get precise and clear information about the safety and efficacy 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.
Real-World Evidence Solutions Market Report Scope
Market size value in 2021
US$ 1.41 Billion
Market forecast in 2027
US$ 3.01 Billion
CAGR of 12.70% from 2022 to 2027
Base year for estimation
Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, And Trends
Component, Therapeutic Area And End User.
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Key companies profiled
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.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,
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The report has been segmented the market into following categories:
Breakup by Component:
- Clinical Settings Data
- Claims Data
- Patient-Powered Data
- Pharmacy Data
Breakup by Therapeutic Area:
- Cardiovascular Disease
Breakup by End User:
- Pharmaceutical and Medical Device Companies
- Healthcare Payers
- Healthcare Providers
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
List of Major Key Players:
The major players in the market are 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.
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