According to the most recent report published by Future Market Insights, the Real World Evidence Solutions Market is valued at US$ 39.2 billion in 2021 and is expected to reach US$ 110 billion by the end of 2032 at a CAGR of 10%.

The forecasted compound annual growth rate is significantly higher than the historical CAGR of 8.6%. Furthermore, the market is expected to see an absolute dollar opportunity of $67.2 billion over the next ten years.

From 2022 to 2032, the services category is expected to generate an absolute dollar opportunity of US$ 41 billion. During this time period, the services segment is expected to account for the majority of the global market and to grow at a compound annual growth rate of 10.4%. By increasing their use of real-world services, the pharmaceutical and biotechnology industries are driving market expansion. Clinical data gathered during ongoing patient treatment or as part of a formal clinical trial programme is a common source of information in most medical studies.

The global market is being driven by a shift from volume-based to value-based care, favourable government policies, increased R&D expenditure, and a growing focus on end-to-end RWE services. The Global Market for Real World Evidence Solutions will be worth US$ 110 billion by the end of 2032. Furthermore, a growing emphasis on personalised healthcare, an increase in the frequency of chronic diseases, an ageing population, and regulatory support for the implementation of RWE solutions are expected to propel market growth.

Market Segments Covered in Real World Evidence Solutions Market Study:

By Component:

  • Services
  • Data Sets
    • Clinical Settings Data
    • Claims Data
    • Pharmacy data
    • Patient-powered Data

By Application:

  • Reimbursement/Coverage & Regulatory Decision Making
  • Drug Development & Approvals
  • Medical Device Development & Approvals
  • Post Market Safety & Adverse Events Monitoring

By End-user:

  • Healthcare payers
  • Pharmaceutical & Medical Device Companies
  • Healthcare Providers
  • Other End-users

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The key competitors in the Real World Evidence Solutions Market are –

  • Cegedim Health Data
  • IBM
  • Icon Plc.
  • Medpace
  • Oracle
  • Parexel International Corp.
  • PerkinElmer, Inc.
  • PPD, Inc.
  • Syneos Health