Report Ocean is a leading provider of in-depth market research reports, analyzing over 150 countries’ markets. With a focus on accuracy, their team of expert researchers and professionals curates insights from credible sources. Using methodologies like SWOT and PESTEL analysis, as well as regression analysis, they provide accurate growth forecasts. The report delves into industry regulations, research technology, innovation, and future advancements in Real World Evidence Solutions.
The global real world evidence solution market size was US$ 1,232.6 million in 2021. The global real world evidence solution market size is forecast to reach US$ 4,040.1 million by 2030, growing at a compound annual growth rate (CAGR) of 14.1% during the forecast period from 2022 to 2030.
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Real-world evidence (RWE) is defined as clinical evidence derived from real-world information on the application of a medical product and any potential advantages or risks. It relates to data generated in ordinary clinical practice and observational research conducted outside of randomized controlled trials (RCTs), known as real-world data (RWD). Based on observational data, RWD develops insights, extrapolative outcomes, foresight on illnesses, medical equipment, unmet patient requirements, the value supplied by the products to subpopulations, and patient demographics. In order to evaluate patient outcomes and guarantee that patients receive the greatest care, real-world data is also employed.
Factors Influencing Market Growth
• The increasing geriatric population and the following rise in the prevalence of chronic diseases drive the global market.
• The disinclination to rely on real-world studies and the dearth of universally accepted methodological measures for data collection may slow down the overall market growth.
• The authorization from regulatory bodies for using real world evidence (RWE) solutions and growing R&D spending boost the global market growth.
Impact Analysis of COVID-19
The COVID-19 pandemic had a positive impact on the global market. The strategic use of real-world evidence to support the creation of evidence for the regulatory approval of clinical trials is one of the potential implications of these changes. RWE solutions have proven particularly beneficial since they enable healthcare professionals to safely evaluate patient health-related data from a distance using cutting-edge tools and software and to conduct online surveys using mobile applications. Additionally, the disease’s rapid global spread has led to lockdowns and other limitations, which has raised the demand for cutting-edge medical equipment. As a result, the adoption of RWE solutions for data analysis, conducting clinical trials, and facilitating the drug development process is anticipated to rise in the upcoming years.
Regional Analysis
North America garnered a substantial market share in 2021 and is forecast to remain dominant during the forecast period. As a result of the existence of key participants, an increasing number of RWE service providers, and promising government rules. In addition, the growing geriatric population and the subsequent rise in the cases of chronic diseases.
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Leading Competitors
The leading prominent companies profiled in the global real world evidence solutions market are:
• Medpace
• Syneos Health
• Icon Plc
• Paraxel International Corp
• IBM
• Cegedim Health Data
• SAS Institute Inc
• Oracle Corporation
• PerkinElmer Inc.
• PPD Inc.
• Clinigen Group plc
• IQVIA
• Other Prominent Players
Scope of the Report
The global real world evidence solutions market segmentation focuses on Components, End-Users, Therapeutic Area, and Region.
Segmentation based on Component
• Services
• Data Sets
• Clinical setting data
• Claims data
• Pharmacy data
• Patient powered data
Segmentation based on End-Users
• Pharmaceutical and Medical Devices Companies
• Healthcare Providers
• Healthcare Payers
• End Users
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Segmentation based on Therapeutic Area
• Oncology
• Cardiovascular
• Neurology
• Immunology
• Others
Segmentation based on Region
• North America
• The U.S.
• Canada
• Mexico
• Europe
• Western Europe
• The UK
• Germany
• France
• Italy
• Spain
• Rest of Western Europe
• Eastern Europe
• Poland
• Russia
• Rest of Eastern Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Brazil
• Argentina
• Rest of South America
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Meta Title: Real World Evidence Solutions Market Size, Share, Insight and Forecast 2022 to 2030
Meta Description: Global Real World Evidence Solutions Market is projected to reach US$ 4,040.1 million by the end of 2030 from US$ 1,232.6 million in 2021, at a CAGR of 14.1%
Meta Keywords: real world evidence solutions market Size, real world evidence solutions market share, real world evidence solutions market trend, real world evidence solutions market Forecast, real world evidence solutions market insight
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