Real-World Evidence (RWE) Solutions Market

Global Real-World Evidence (RWE) Solutions Market is valued at USD 2206.1 Million in 2021 and is expected to reach USD 4312.6 Million by 2028 with a CAGR of 11.82% over the forecast period.  

Global Real-World Evidence (RWE) Solutions Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2022-2028. Rapid increase in drug development activities and growing government support to attempt medical research are some of the major factors driving the growth of the Global Real-World Evidence (RWE) Solutions Market.

Scope of Global Real-World Evidence (RWE) Solutions Market Report:-

Real-World Evidence (RWE) is a fully integrated solution to ensure end users have the right evidence at the right time to know value-based terms in relevant, correct and compelling manner. From the healthcare perspective, real-world evidence is the clinical evidence involving the usage and potential benefits or risks of a medical product which can be derived from analysis of real-world data (RWD). Real-world evidence (RWE) can be generated by different levels of analysis. The development of RWE needs a high-powered analytics, a validated approach and a robust knowledge of available real world data RWD sources. Real-world evidence (RWE) solution is used to monitor post market safety and helps in generating regulatory decisions.

Covid-19 has shown a slightly positive upturn on the real-world evidence (RWE) solutions market. The covid-19 pandemic has triggered competition level in the evidence industry to create safe and effective therapies and vaccines. This real type of evidence accelerates research and development methodologies as well as made the health care community more receptive to expand the use of RWE beyond traditional safety-related applications.

Global Real-World Evidence (RWE) Solutions Market Segmentation:-

Global real-world evidence (RWE) solutions market is segmented into component, application, end User and geography. Based on component, the global real-world evidence (RWE) solutions market is segmented into datasets, clinical setting data, claims data, pharmacy data, services, and others. Based on application, the market is divided into market oncology, neurology, immunology, cardiovascular diseases, other. Based on end user, the market is divided into healthcare payers, healthcare providers, pharmaceutical & medical device companies, and others.

By Component: 

• Datasets 
• Clinical Setting Data
• Claims Data
• Pharmacy Data
• Services 
• Others 

By Application: 

• Oncology 
• Neurology 
• Immunology 
• Cardiovascular Diseases 
• Other

By End User: 

• Healthcare Payers 
• Healthcare Providers 
• Pharmaceutical & Medical Device Companies 
• Other

Key Players for Global Real-World Evidence (RWE) Solutions Market Report:-

Some of the key players for global Real-World Evidence (RWE) Solutions are

• ICON plc
• IQVIA Holdings Inc.
• PPD Inc.
• SYNEOS HEALTH Inc.
• CLARIVATE PLC
• Medpace Holdings Inc.
• Symphony Innovation LLC
• Clinigen Group plc
• Cognizant Technology Solutions Corporation
• IBM Corporation
• Oracle Corporation
• PAREXEL International Corporation
• PerkinElmer Inc.
• SAS Institute Inc.
• UnitedHealth Group Incorporated
• Flatiron Health 
• Others

Recent Developments

News: - IQVIA Announced New Partnership with HealthCore to Expedite RWE Studies 

On August 9th, 2021; IQVIA announced a new partnership with real world research leader named HealthCore. Together, these companies will promote real world evidence (RWE) evolutionary studies. The collaboration has improved data analysis and took focus on the use of de-identified real-world data (RWD) from patients with Covid-19 disease. IQVIA is increased their focus to enhance evidence generation with the goal of advancing patient health and clinical outcomes.

Global Real-World Evidence (RWE) Solutions Market Dynamics:-

The growth of the real-world evidence (RWE) solutions market is primarily driven by increasing usage of electronic health records (EHRs) and rapid advancements of drug development in pharma industry. From the last few years, pharma industry has significantly realised the value of real-world evidence (RWE) solutions for improving traditional clinical studies, extending its use beyond the usual pharmacoepidemiologic safety. For example; globally the pharmaceutical market was valued at around USD 1.0 trillion in 2019 at a three to six percent compound annual growth rate over the next five years. Nearly 90% of global pharmaceutical companies will be using real world data or evidence solutions within the forecast period. Likewise, rising demand for drug development and clinical decision-making in the life sciences industry is another driving factor for the growth of real-world evidence (RWE) solutions market.

Regardless above driving factors, operational challenges in real-world evidence solutions include different key issues such as feasibility, governance, and sustainability may obstruct the real-world evidence (RWE) solutions market growth. In spite of that, real-world evidence (RWE) solutions emerge as a new source of opportunities for clinical evidence as well as advanced machine learning (ML) techniques are being used in RWE are promising tools for precision medicine. 

Global Real-World Evidence (RWE) Solutions Market Regional Analysis:-

North America is anticipated to account for the largest market share in the real-world evidence (RWE) solutions market. North America’s market growth is likely to be accelerated by some major factors such as large base of drug development companies as well as rising focus towards research & development activities to collect and analyze real time data. The use of RWE is also gaining the popularity in North America and is currently being evaluated by regulatory authorities for potential use for labelling changes. For example; the U.S. Food and Drug Administration (FDA) has been creating the FDA Real-World Evidence Program Framework to analyze the use of RWE throughout the drug development process.

Asia pacific is the fastest growing region in the real-world evidence (RWE) solutions market due to increased government support to carry out medical research and increased use of latest innovative technologies. The utilization of real-world evidence (RWE) is an emerging part for the medical device industry, regulators and policy makers. For example; government organizations have announced a key consideration for Policymakers to explore the state of policy innovation regarding the use of RWE for regulatory and reimbursement decision-making. For example, Asia-Pacific accounted for around 43.98% share of global clinical trials activity in 2020, with an increase of nearly 6.54%.

On Special Requirement Real-World Evidence (RWE) Solutions Market Report is also available for the below Regions and Countries:

North America

• U.S.
• Canada

Europe

• Germany
• France
• U.K.
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Switzerland
• Belgium
• Rest of Europe

Asia-Pacific

• South Korea
• Japan
• China
• India
• Australia
• Philippines
• Singapore
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Colombia
• Brazil
• Argentina
• Peru
• Rest of South America

Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA

Report Analysis	Details
Historical data	2018 - 2021
Forecast Period	2021 - 2028
Market Size in 2021:	USD 2206.1 Million
Base year considered	2021
Forecast Period CAGR %:	11.82%
Market Size Expected in 2028:	USD 4312.6 Million
Tables, Charts & Figures:	175
Pages	200
Real-World Evidence (RWE) Solutions Companies	ICON plc, IQVIA Holdings Inc., PPD Inc., SYNEOS HEALTH Inc., CLARIVATE PLC, Medpace Holdings Inc., Symphony Innovation LLC, Clinigen Group plc, Cognizant Technology Solutions Corporation, IBM Corporation, Oracle Corporation, PAREXEL International Corporation, PerkinElmer Inc., SAS Institute Inc., UnitedHealth Group Incorporated, Flatiron Health, Others
Segments Covered	By Component, By Application, By End User
Regional Analysis	North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa

Key Benefits of Global Real-World Evidence Solutions Market Report:-

• Global Real-World Evidence Solutions Market report covers in-depth historical and forecasts analysis. 
• Global Real-World Evidence Solutions Market research report provides detailed information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level. 
• Global Real-World Evidence Solutions Market report helps to identify opportunities in the marketplace. 
• Global Real-World Evidence Solutions Market report covers extensive analysis of emerging trends and the competitive landscape.