DUBLIN–(BUSINESS WIRE)–The “Real World Evidence Solutions Market By Components, By Application, By End User: Global Opportunity Analysis and Industry Forecast, 2021-2031” report has been added to ResearchAndMarkets.com’s offering.
The global real-world evidence solutions market was valued at $1,369.3 million in 2021, and is projected to reach $4,993.24 million by 2031, registering a CAGR of 13.7% from 2022 to 2031.
Real-world evidence is defined as the healthcare data derived from a variety of non-traditional clinical research settings, such as electronic medical records (EMRs), claims and billing information, product and disease registries, and information collected by mobile devices and health apps.
The four main sources of collecting real-time data are administrative/claims data, clinical data, patient-generated or reported data, and emerging data sources including social media and cross-industry data collaborations such as Project Data Sphere. It is most commonly used by pharmaceutical companies, payers, and providers to better manage their organizations and make decisions about cost-effectiveness and comparative efficacy where other more robust data sources do not exist.
The key factors that drive the growth of the market are increase in the prevalence of cancer and chronic diseases, which increase the demand for the development of novel drugs and medical devices across the world.
In addition, rise in adoption of technological advanced real-world evidence solutions; and increase in number of pipeline drugs are the key factors that further boost the growth of market. Moreover, rise in R&D activity rates, government initiatives, improved healthcare infrastructure, and increased funding for research projects across the world further propel the growth of the market.
In addition, increase in number of key players and the strategies adopted by them, and rise in demand for technologically advanced medical devices to conduct real time surveys and clinical trials propel the growth of the real-world evidence solutions market.
However, lack of awareness and reluctance to rely on real-world data hamper the market growth. Furthermore, high growth potential in developing economies and growth in focus on end-to-end real-world evidence services are expected to provide lucrative opportunity for the growth of real-world evidence solutions market during the forecast period.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the real world evidence solutions market analysis from 2021 to 2031 to identify the prevailing real world evidence solutions market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the real world evidence solutions market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global real world evidence solutions market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Components
- Data Sets
- Type
- Disparate Datasets
- Integrated Datasets
- Consulting Services
By Application
- Market Access and Reimbursement Coverage Decisions
- Drug Development and Approvals
- Type
- Oncology
- Neurology
- Immunology
- Cardiovascular Diseases
- Others
- Post Market Surveillance
- Medical Device Development and Approvals
- Others
By End User
- Pharmaceutical and Medical Device Companies
- Healthcare Payers
- Healthcare Providers
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- Australia
- India
- South Korea
- Rest Of Asia Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Clinigen Group plc
- Cognizant Technology Solutions Corp.
- Clarivate plc
- IBM Corporation
- Elevance Health Inc
- Flatiron Health
- ICON PLC
- IQVIA
- Medpace Holding Corporation
- Oracle Corporation
- Parexel International Corporation
- Perkin Elmer Inc
- SAS Institute Inc
- Symphony Innovation LLC
- Syneos Health Inc
For more information about this report visit https://www.researchandmarkets.com/r/df4ae8
Contacts
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900