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.
The real-world evidence solutions market is segmented on the basis of component, application, end user, and region. By component it is segmented into datasets and consulting services. By application, it is segmented into market access & reimbursement/coverage decisions, drug development and approvals, post market surveillance, medical device development and approvals and others. By end user, it is segmented into pharmaceutical and medical device companies, healthcare providers, payers and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
North America accounted for a majority of the real-world evidence solutions market share in 2021 and is anticipated to remain dominant during the forecast period, owing to increase in demand for real-world evidence-based solutions or services, shift toward value-based healthcare instead of volume and the strategies adopted by key players for their product development.
Asia-Pacific was the second largest contributor to the market in 2021, and is expected to register the fastest CAGR during the forecast period, owing to rise in geriatric population, increase in number of cancer patients and an emerging economy.
The key players that operate in the real-world evidence solutions market are Clarivate PLC, Clinigen Group PLC, Cognizant Technology Solution Corporation, Elevance Health Inc., Flatiron Health, IBM Corporation, ICON PLC, IQVIA, Medpace Holding Corporation, Oracle Corporation, Parexel International Corporation, Perkin Elmer Inc., SAS Institute Inc., Symphony Innovation LLC, and Syneos Health Inc.
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.
The real-world evidence solutions market is segmented on the basis of component, application, end user, and region. By component it is segmented into datasets and consulting services. By application, it is segmented into market access & reimbursement/coverage decisions, drug development and approvals, post market surveillance, medical device development and approvals and others. By end user, it is segmented into pharmaceutical and medical device companies, healthcare providers, payers and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
North America accounted for a majority of the real-world evidence solutions market share in 2021 and is anticipated to remain dominant during the forecast period, owing to increase in demand for real-world evidence-based solutions or services, shift toward value-based healthcare instead of volume and the strategies adopted by key players for their product development.
Asia-Pacific was the second largest contributor to the market in 2021, and is expected to register the fastest CAGR during the forecast period, owing to rise in geriatric population, increase in number of cancer patients and an emerging economy.
The key players that operate in the real-world evidence solutions market are Clarivate PLC, Clinigen Group PLC, Cognizant Technology Solution Corporation, Elevance Health Inc., Flatiron Health, IBM Corporation, ICON PLC, IQVIA, Medpace Holding Corporation, Oracle Corporation, Parexel International Corporation, Perkin Elmer Inc., SAS Institute Inc., Symphony Innovation LLC, and Syneos Health Inc.
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 Pacifc
- 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
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Table of Contents
CHAPTER 1: INTRODUCTION1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research Methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. Key findings of the study
2.2. CXO Perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.3. Porter’s five forces analysis
3.4. Top player positioning
3.5. Market dynamics
3.5.1. Drivers
3.5.2. Restraints
3.5.3. Opportunities
3.6. COVID-19 Impact Analysis on the market
CHAPTER 4: REAL WORLD EVIDENCE SOLUTIONS MARKET, BY COMPONENTS
4.1 Overview
4.1.1 Market size and forecast
4.2 Data Sets
4.2.1 Key market trends, growth factors and opportunities
4.2.2 Market size and forecast, by region
4.2.3 Market analysis by country
4.2.4 Data Sets Real World Evidence Solutions Market by Type
4.2.4.1 Disparate Datasets Market size and forecast, by region
4.2.4.2 Integrated Datasets Market size and forecast, by region
4.3 Consulting Services
4.3.1 Key market trends, growth factors and opportunities
4.3.2 Market size and forecast, by region
4.3.3 Market analysis by country
CHAPTER 5: REAL WORLD EVIDENCE SOLUTIONS MARKET, BY APPLICATION
5.1 Overview
5.1.1 Market size and forecast
5.2 Market Access and Reimbursement Coverage Decisions
5.2.1 Key market trends, growth factors and opportunities
5.2.2 Market size and forecast, by region
5.2.3 Market analysis by country
5.3 Drug Development and Approvals
5.3.1 Key market trends, growth factors and opportunities
5.3.2 Market size and forecast, by region
5.3.3 Market analysis by country
5.3.4 Drug Development and Approvals Real World Evidence Solutions Market by Type
5.3.4.1 Oncology Market size and forecast, by region
5.3.4.2 Neurology Market size and forecast, by region
5.3.4.3 Immunology Market size and forecast, by region
5.3.4.4 Cardiovascular Diseases Market size and forecast, by region
5.3.4.5 Others Market size and forecast, by region
5.4 Post Market Surveillance
5.4.1 Key market trends, growth factors and opportunities
5.4.2 Market size and forecast, by region
5.4.3 Market analysis by country
5.5 Medical Device Development and Approvals
5.5.1 Key market trends, growth factors and opportunities
5.5.2 Market size and forecast, by region
5.5.3 Market analysis by country
5.6 Others
5.6.1 Key market trends, growth factors and opportunities
5.6.2 Market size and forecast, by region
5.6.3 Market analysis by country
CHAPTER 6: REAL WORLD EVIDENCE SOLUTIONS MARKET, BY END USER
6.1 Overview
6.1.1 Market size and forecast
6.2 Pharmaceutical and Medical Device Companies
6.2.1 Key market trends, growth factors and opportunities
6.2.2 Market size and forecast, by region
6.2.3 Market analysis by country
6.3 Healthcare Payers
6.3.1 Key market trends, growth factors and opportunities
6.3.2 Market size and forecast, by region
6.3.3 Market analysis by country
6.4 Healthcare Providers
6.4.1 Key market trends, growth factors and opportunities
6.4.2 Market size and forecast, by region
6.4.3 Market analysis by country
6.5 Others
6.5.1 Key market trends, growth factors and opportunities
6.5.2 Market size and forecast, by region
6.5.3 Market analysis by country
CHAPTER 7: REAL WORLD EVIDENCE SOLUTIONS MARKET, BY REGION
7.1 Overview
7.1.1 Market size and forecast
7.2 North America
7.2.1 Key trends and opportunities
7.2.2 North America Market size and forecast, by Components
7.2.2.1 North America Data Sets Real World Evidence Solutions Market by Type
7.2.3 North America Market size and forecast, by Application
7.2.3.1 North America Drug Development and Approvals Real World Evidence Solutions Market by Type
7.2.4 North America Market size and forecast, by End User
7.2.5 North America Market size and forecast, by country
7.2.5.1 U.S.
7.2.5.1.1 Market size and forecast, by Components
7.2.5.1.2 Market size and forecast, by Application
7.2.5.1.3 Market size and forecast, by End User
7.2.5.2 Canada
7.2.5.2.1 Market size and forecast, by Components
7.2.5.2.2 Market size and forecast, by Application
7.2.5.2.3 Market size and forecast, by End User
7.2.5.3 Mexico
7.2.5.3.1 Market size and forecast, by Components
7.2.5.3.2 Market size and forecast, by Application
7.2.5.3.3 Market size and forecast, by End User
7.3 Europe
7.3.1 Key trends and opportunities
7.3.2 Europe Market size and forecast, by Components
7.3.2.1 Europe Data Sets Real World Evidence Solutions Market by Type
7.3.3 Europe Market size and forecast, by Application
7.3.3.1 Europe Drug Development and Approvals Real World Evidence Solutions Market by Type
7.3.4 Europe Market size and forecast, by End User
7.3.5 Europe Market size and forecast, by country
7.3.5.1 Germany
7.3.5.1.1 Market size and forecast, by Components
7.3.5.1.2 Market size and forecast, by Application
7.3.5.1.3 Market size and forecast, by End User
7.3.5.2 France
7.3.5.2.1 Market size and forecast, by Components
7.3.5.2.2 Market size and forecast, by Application
7.3.5.2.3 Market size and forecast, by End User
7.3.5.3 UK
7.3.5.3.1 Market size and forecast, by Components
7.3.5.3.2 Market size and forecast, by Application
7.3.5.3.3 Market size and forecast, by End User
7.3.5.4 Italy
7.3.5.4.1 Market size and forecast, by Components
7.3.5.4.2 Market size and forecast, by Application
7.3.5.4.3 Market size and forecast, by End User
7.3.5.5 Spain
7.3.5.5.1 Market size and forecast, by Components
7.3.5.5.2 Market size and forecast, by Application
7.3.5.5.3 Market size and forecast, by End User
7.3.5.6 Rest of Europe
7.3.5.6.1 Market size and forecast, by Components
7.3.5.6.2 Market size and forecast, by Application
7.3.5.6.3 Market size and forecast, by End User
7.4 Asia-Pacific
7.4.1 Key trends and opportunities
7.4.2 Asia-Pacific Market size and forecast, by Components
7.4.2.1 Asia-Pacific Data Sets Real World Evidence Solutions Market by Type
7.4.3 Asia-Pacific Market size and forecast, by Application
7.4.3.1 Asia-Pacific Drug Development and Approvals Real World Evidence Solutions Market by Type
7.4.4 Asia-Pacific Market size and forecast, by End User
7.4.5 Asia-Pacific Market size and forecast, by country
7.4.5.1 Japan
7.4.5.1.1 Market size and forecast, by Components
7.4.5.1.2 Market size and forecast, by Application
7.4.5.1.3 Market size and forecast, by End User
7.4.5.2 China
7.4.5.2.1 Market size and forecast, by Components
7.4.5.2.2 Market size and forecast, by Application
7.4.5.2.3 Market size and forecast, by End User
7.4.5.3 Australia
7.4.5.3.1 Market size and forecast, by Components
7.4.5.3.2 Market size and forecast, by Application
7.4.5.3.3 Market size and forecast, by End User
7.4.5.4 India
7.4.5.4.1 Market size and forecast, by Components
7.4.5.4.2 Market size and forecast, by Application
7.4.5.4.3 Market size and forecast, by End User
7.4.5.5 South Korea
7.4.5.5.1 Market size and forecast, by Components
7.4.5.5.2 Market size and forecast, by Application
7.4.5.5.3 Market size and forecast, by End User
7.4.5.6 Rest Of Asia Pacifc
7.4.5.6.1 Market size and forecast, by Components
7.4.5.6.2 Market size and forecast, by Application
7.4.5.6.3 Market size and forecast, by End User
7.5 LAMEA
7.5.1 Key trends and opportunities
7.5.2 LAMEA Market size and forecast, by Components
7.5.2.1 LAMEA Data Sets Real World Evidence Solutions Market by Type
7.5.3 LAMEA Market size and forecast, by Application
7.5.3.1 LAMEA Drug Development and Approvals Real World Evidence Solutions Market by Type
7.5.4 LAMEA Market size and forecast, by End User
7.5.5 LAMEA Market size and forecast, by country
7.5.5.1 Brazil
7.5.5.1.1 Market size and forecast, by Components
7.5.5.1.2 Market size and forecast, by Application
7.5.5.1.3 Market size and forecast, by End User
7.5.5.2 Saudi Arabia
7.5.5.2.1 Market size and forecast, by Components
7.5.5.2.2 Market size and forecast, by Application
7.5.5.2.3 Market size and forecast, by End User
7.5.5.3 South Africa
7.5.5.3.1 Market size and forecast, by Components
7.5.5.3.2 Market size and forecast, by Application
7.5.5.3.3 Market size and forecast, by End User
7.5.5.4 Rest of LAMEA
7.5.5.4.1 Market size and forecast, by Components
7.5.5.4.2 Market size and forecast, by Application
7.5.5.4.3 Market size and forecast, by End User
CHAPTER 8: COMPANY LANDSCAPE
8.1. Introduction
8.2. Top winning strategies
8.3. Product Mapping of Top 10 Player
8.4. Competitive Dashboard
8.5. Competitive Heatmap
8.6. Key developments
CHAPTER 9: COMPANY PROFILES
9.1 Clinigen Group plc
9.1.1 Company overview
9.1.2 Company snapshot
9.1.3 Operating business segments
9.1.4 Product portfolio
9.1.5 Business performance
9.1.6 Key strategic moves and developments
9.2 Cognizant Technology Solutions Corp.
9.2.1 Company overview
9.2.2 Company snapshot
9.2.3 Operating business segments
9.2.4 Product portfolio
9.2.5 Business performance
9.2.6 Key strategic moves and developments
9.3 Clarivate plc
9.3.1 Company overview
9.3.2 Company snapshot
9.3.3 Operating business segments
9.3.4 Product portfolio
9.3.5 Business performance
9.3.6 Key strategic moves and developments
9.4 IBM Corporation
9.4.1 Company overview
9.4.2 Company snapshot
9.4.3 Operating business segments
9.4.4 Product portfolio
9.4.5 Business performance
9.4.6 Key strategic moves and developments
9.5 Elevance Health Inc
9.5.1 Company overview
9.5.2 Company snapshot
9.5.3 Operating business segments
9.5.4 Product portfolio
9.5.5 Business performance
9.5.6 Key strategic moves and developments
9.6 Flatiron Health
9.6.1 Company overview
9.6.2 Company snapshot
9.6.3 Operating business segments
9.6.4 Product portfolio
9.6.5 Business performance
9.6.6 Key strategic moves and developments
9.7 ICON PLC
9.7.1 Company overview
9.7.2 Company snapshot
9.7.3 Operating business segments
9.7.4 Product portfolio
9.7.5 Business performance
9.7.6 Key strategic moves and developments
9.8 IQVIA
9.8.1 Company overview
9.8.2 Company snapshot
9.8.3 Operating business segments
9.8.4 Product portfolio
9.8.5 Business performance
9.8.6 Key strategic moves and developments
9.9 Medpace Holding Corporation
9.9.1 Company overview
9.9.2 Company snapshot
9.9.3 Operating business segments
9.9.4 Product portfolio
9.9.5 Business performance
9.9.6 Key strategic moves and developments
9.10 Oracle Corporation
9.10.1 Company overview
9.10.2 Company snapshot
9.10.3 Operating business segments
9.10.4 Product portfolio
9.10.5 Business performance
9.10.6 Key strategic moves and developments
9.11 Parexel International Corporation
9.11.1 Company overview
9.11.2 Company snapshot
9.11.3 Operating business segments
9.11.4 Product portfolio
9.11.5 Business performance
9.11.6 Key strategic moves and developments
9.12 Perkin Elmer Inc
9.12.1 Company overview
9.12.2 Company snapshot
9.12.3 Operating business segments
9.12.4 Product portfolio
9.12.5 Business performance
9.12.6 Key strategic moves and developments
9.13 SAS Institute Inc
9.13.1 Company overview
9.13.2 Company snapshot
9.13.3 Operating business segments
9.13.4 Product portfolio
9.13.5 Business performance
9.13.6 Key strategic moves and developments
9.14 Symphony Innovation LLC
9.14.1 Company overview
9.14.2 Company snapshot
9.14.3 Operating business segments
9.14.4 Product portfolio
9.14.5 Business performance
9.14.6 Key strategic moves and developments
9.15 Syneos Health Inc
9.15.1 Company overview
9.15.2 Company snapshot
9.15.3 Operating business segments
9.15.4 Product portfolio
9.15.5 Business performance
9.15.6 Key strategic moves and developments
List of Tables
Table 1. Global Real World Evidence Solutions Market, by Components, 2021-2031 ($Million)
Table 2. Real World Evidence Solutions Market, for Data Sets, by Region, 2021-2031 ($Million)
Table 3. Real World Evidence Solutions Market for Data Sets, by Country, 2021-2031 ($Million)
Table 4. Global Data Sets Real World Evidence Solutions Market, by Type, 2021-2031 ($Million)
Table 5. Real World Evidence Solutions Market, for Disparate Datasets, by Region, 2021-2031 ($Million)
Table 6. Real World Evidence Solutions Market, for Integrated Datasets, by Region, 2021-2031 ($Million)
Table 7. Real World Evidence Solutions Market, for Consulting Services, by Region, 2021-2031 ($Million)
Table 8. Real World Evidence Solutions Market for Consulting Services, by Country, 2021-2031 ($Million)
Table 9. Global Real World Evidence Solutions Market, by Application, 2021-2031 ($Million)
Table 10. Real World Evidence Solutions Market, for Market Access and Reimbursement Coverage Decisions, by Region, 2021-2031 ($Million)
Table 11. Real World Evidence Solutions Market for Market Access and Reimbursement Coverage Decisions, by Country, 2021-2031 ($Million)
Table 12. Real World Evidence Solutions Market, for Drug Development and Approvals, by Region, 2021-2031 ($Million)
Table 13. Real World Evidence Solutions Market for Drug Development and Approvals, by Country, 2021-2031 ($Million)
Table 14. Global Drug Development and Approvals Real World Evidence Solutions Market, by Type, 2021-2031 ($Million)
Table 15. Real World Evidence Solutions Market, for Oncology, by Region, 2021-2031 ($Million)
Table 16. Real World Evidence Solutions Market, for Neurology, by Region, 2021-2031 ($Million)
Table 17. Real World Evidence Solutions Market, for Immunology, by Region, 2021-2031 ($Million)
Table 18. Real World Evidence Solutions Market, for Cardiovascular Diseases, by Region, 2021-2031 ($Million)
Table 19. Real World Evidence Solutions Market, for Others, by Region, 2021-2031 ($Million)
Table 20. Real World Evidence Solutions Market, for Post Market Surveillance, by Region, 2021-2031 ($Million)
Table 21. Real World Evidence Solutions Market for Post Market Surveillance, by Country, 2021-2031 ($Million)
Table 22. Real World Evidence Solutions Market, for Medical Device Development and Approvals, by Region, 2021-2031 ($Million)
Table 23. Real World Evidence Solutions Market for Medical Device Development and Approvals, by Country, 2021-2031 ($Million)
Table 24. Real World Evidence Solutions Market, for Others, by Region, 2021-2031 ($Million)
Table 25. Real World Evidence Solutions Market for Others, by Country, 2021-2031 ($Million)
Table 26. Global Real World Evidence Solutions Market, by End-user, 2021-2031 ($Million)
Table 27. Real World Evidence Solutions Market, for Pharmaceutical and Medical Device Companies, by Region, 2021-2031 ($Million)
Table 28. Real World Evidence Solutions Market for Pharmaceutical and Medical Device Companies, by Country, 2021-2031 ($Million)
Table 29. Real World Evidence Solutions Market, for Healthcare Payers, by Region, 2021-2031 ($Million)
Table 30. Real World Evidence Solutions Market for Healthcare Payers, by Country, 2021-2031 ($Million)
Table 31. Real World Evidence Solutions Market, for Healthcare Providers, by Region, 2021-2031 ($Million)
Table 32. Real World Evidence Solutions Market for Healthcare Providers, by Country, 2021-2031 ($Million)
Table 33. Real World Evidence Solutions Market, for Others, by Region, 2021-2031 ($Million)
Table 34. Real World Evidence Solutions Market for Others, by Country, 2021-2031 ($Million)
Table 35. Real World Evidence Solutions Market, by Region, 2021-2031 ($Million)
Table 36. North America Real World Evidence Solutions Market, by Components, 2021-2031 ($Million)
Table 37. North America Data Sets Real World Evidence Solutions Market, by Type, 2021-2031 ($Million)
Table 38. North America Real World Evidence Solutions Market, by Application, 2021-2031 ($Million)
Table 39. North America Drug Development and Approvals Real World Evidence Solutions Market, by Type, 2021-2031 ($Million)
Table 40. North America Real World Evidence Solutions Market, by End-user, 2021-2031 ($Million)
Table 41. North America Real World Evidence Solutions Market, by Country, 2021-2031 ($Million)
Table 42. U.S. Real World Evidence Solutions Market, by Components, 2021-2031 ($Million)
Table 43. U.S. Real World Evidence Solutions Market, by Application, 2021-2031 ($Million)
Table 44. U.S. Real World Evidence Solutions Market, by End-user, 2021-2031 ($Million)
Table 45. Canada Real World Evidence Solutions Market, by Components, 2021-2031 ($Million)
Table 46. Canada Real World Evidence Solutions Market, by Application, 2021-2031 ($Million)
Table 47. Canada Real World Evidence Solutions Market, by End-user, 2021-2031 ($Million)
Table 48. Mexico Real World Evidence Solutions Market, by Components, 2021-2031 ($Million)
Table 49. Mexico Real World Evidence Solutions Market, by Application, 2021-2031 ($Million)
Table 50. Mexico Real World Evidence Solutions Market, by End-user, 2021-2031 ($Million)
Table 51. Europe Real World Evidence Solutions Market, by Components, 2021-2031 ($Million)
Table 52. Europe Data Sets Real World Evidence Solutions Market, by Type, 2021-2031 ($Million)
Table 53. Europe Real World Evidence Solutions Market, by Application, 2021-2031 ($Million)
Table 54. Europe Drug Development and Approvals Real World Evidence Solutions Market, by Type, 2021-2031 ($Million)
Table 55. Europe Real World Evidence Solutions Market, by End-user, 2021-2031 ($Million)
Table 56. Europe Real World Evidence Solutions Market, by Country, 2021-2031 ($Million)
Table 57. Germany Real World Evidence Solutions Market, by Components, 2021-2031 ($Million)
Table 58. Germany Real World Evidence Solutions Market, by Application, 2021-2031 ($Million)
Table 59. Germany Real World Evidence Solutions Market, by End-user, 2021-2031 ($Million)
Table 60. France Real World Evidence Solutions Market, by Components, 2021-2031 ($Million)
Table 61. France Real World Evidence Solutions Market, by Application, 2021-2031 ($Million)
Table 62. France Real World Evidence Solutions Market, by End-user, 2021-2031 ($Million)
Table 63. UK Real World Evidence Solutions Market, by Components, 2021-2031 ($Million)
Table 64. UK Real World Evidence Solutions Market, by Application, 2021-2031 ($Million)
Table 65. UK Real World Evidence Solutions Market, by End-user, 2021-2031 ($Million)
Table 66. Italy Real World Evidence Solutions Market, by Components, 2021-2031 ($Million)
Table 67. Italy Real World Evidence Solutions Market, by Application, 2021-2031 ($Million)
Table 68. Italy Real World Evidence Solutions Market, by End-user, 2021-2031 ($Million)
Table 69. Spain Real World Evidence Solutions Market, by Components, 2021-2031 ($Million)
Table 70. Spain Real World Evidence Solutions Market, by Application, 2021-2031 ($Million)
Table 71. Spain Real World Evidence Solutions Market, by End-user, 2021-2031 ($Million)
Table 72. Rest of Europe Real World Evidence Solutions Market, by Components, 2021-2031 ($Million)
Table 73. Rest of Europe Real World Evidence Solutions Market, by Application, 2021-2031 ($Million)
Table 74. Rest of Europe Real World Evidence Solutions Market, by End-user, 2021-2031 ($Million)
Table 75. Asia-Pacific Real World Evidence Solutions Market, by Components, 2021-2031 ($Million)
Table 76. Asia-Pacific Data Sets Real World Evidence Solutions Market, by Type, 2021-2031 ($Million)
Table 77. Asia-Pacific Real World Evidence Solutions Market, by Application, 2021-2031 ($Million)
Table 78. Asia-Pacific Drug Development and Approvals Real World Evidence Solutions Market, by Type, 2021-2031 ($Million)
Table 79. Asia-Pacific Real World Evidence Solutions Market, by End-user, 2021-2031 ($Million)
Table 80. Asia-Pacific Real World Evidence Solutions Market, by Country, 2021-2031 ($Million)
Table 81. Japan Real World Evidence Solutions Market, by Components, 2021-2031 ($Million)
Table 82. Japan Real World Evidence Solutions Market, by Application, 2021-2031 ($Million)
Table 83. Japan Real World Evidence Solutions Market, by End-user, 2021-2031 ($Million)
Table 84. China Real World Evidence Solutions Market, by Components, 2021-2031 ($Million)
Table 85. China Real World Evidence Solutions Market, by Application, 2021-2031 ($Million)
Table 86. China Real World Evidence Solutions Market, by End-user, 2021-2031 ($Million)
Table 87. Australia Real World Evidence Solutions Market, by Components, 2021-2031 ($Million)
Table 88. Australia Real World Evidence Solutions Market, by Application, 2021-2031 ($Million)
Table 89. Australia Real World Evidence Solutions Market, by End-user, 2021-2031 ($Million)
Table 90. India Real World Evidence Solutions Market, by Components, 2021-2031 ($Million)
Table 91. India Real World Evidence Solutions Market, by Application, 2021-2031 ($Million)
Table 92. India Real World Evidence Solutions Market, by End-user, 2021-2031 ($Million)
Table 93. South Korea Real World Evidence Solutions Market, by Components, 2021-2031 ($Million)
Table 94. South Korea Real World Evidence Solutions Market, by Application, 2021-2031 ($Million)
Table 95. South Korea Real World Evidence Solutions Market, by End-user, 2021-2031 ($Million)
Table 96. Rest of Asia Pacifc Real World Evidence Solutions Market, by Components, 2021-2031 ($Million)
Table 97. Rest of Asia Pacifc Real World Evidence Solutions Market, by Application, 2021-2031 ($Million)
Table 98. Rest of Asia Pacifc Real World Evidence Solutions Market, by End-user, 2021-2031 ($Million)
Table 99. LAMEA Real World Evidence Solutions Market, by Components, 2021-2031 ($Million)
Table 100. LAMEA Data Sets Real World Evidence Solutions Market, by Type, 2021-2031 ($Million)
Table 101. LAMEA Real World Evidence Solutions Market, by Application, 2021-2031 ($Million)
Table 102. LAMEA Drug Development and Approvals Real World Evidence Solutions Market, by Type, 2021-2031 ($Million)
Table 103. LAMEA Real World Evidence Solutions Market, by End-user, 2021-2031 ($Million)
Table 104. LAMEA Real World Evidence Solutions Market, by Country, 2021-2031 ($Million)
Table 105. Brazil Real World Evidence Solutions Market, by Components, 2021-2031 ($Million)
Table 106. Brazil Real World Evidence Solutions Market, by Application, 2021-2031 ($Million)
Table 107. Brazil Real World Evidence Solutions Market, by End-user, 2021-2031 ($Million)
Table 108. Saudi Arabia Real World Evidence Solutions Market, by Components, 2021-2031 ($Million)
Table 109. Saudi Arabia Real World Evidence Solutions Market, by Application, 2021-2031 ($Million)
Table 110. Saudi Arabia Real World Evidence Solutions Market, by End-user, 2021-2031 ($Million)
Table 111. South Africa Real World Evidence Solutions Market, by Components, 2021-2031 ($Million)
Table 112. South Africa Real World Evidence Solutions Market, by Application, 2021-2031 ($Million)
Table 113. South Africa Real World Evidence Solutions Market, by End-user, 2021-2031 ($Million)
Table 114. Rest of LAMEA Real World Evidence Solutions Market, by Components, 2021-2031 ($Million)
Table 115. Rest of LAMEA Real World Evidence Solutions Market, by Application, 2021-2031 ($Million)
Table 116. Rest of LAMEA Real World Evidence Solutions Market, by End-user, 2021-2031 ($Million)
Table 117. Clinigen Group PLC: Company Snapshot
Table 118. Clinigen Group PLC: Operating Segments
Table 119. Clinigen Group PLC: Product Portfolio
Table 120. Clinigen Group PLC: Net Sales
Table 121. Clinigen Group PLC: Key Strategies
Table 122. Cognizant Technology Solutions Corp.: Company Snapshot
Table 123. Cognizant Technology Solutions Corp.: Operating Segments
Table 124. Cognizant Technology Solutions Corp.: Product Portfolio
Table 125. Cognizant Technology Solutions Corp.: Net Sales
Table 126. Cognizant Technology Solutions Corp.: Key Strategies
Table 127. Clarivate PLC: Company Snapshot
Table 128. Clarivate PLC: Operating Segments
Table 129. Clarivate PLC: Product Portfolio
Table 130. Clarivate PLC: Net Sales
Table 131. Clarivate PLC: Key Strategies
Table 132. IBM Corporation: Company Snapshot
Table 133. IBM Corporation: Operating Segments
Table 134. IBM Corporation: Product Portfolio
Table 135. IBM Corporation: Net Sales
Table 136. IBM Corporation: Key Strategies
Table 137. Elevance Health Inc.: Company Snapshot
Table 138. Elevance Health Inc.: Operating Segments
Table 139. Elevance Health Inc.: Product Portfolio
Table 140. Elevance Health Inc.: Net Sales
Table 141. Elevance Health Inc.: Key Strategies
Table 142. Flatiron Health: Company Snapshot
Table 143. Flatiron Health: Operating Segments
Table 144. Flatiron Health: Product Portfolio
Table 145. Flatiron Health: Net Sales
Table 146. Flatiron Health: Key Strategies
Table 147. Icon PLC: Company Snapshot
Table 148. Icon PLC: Operating Segments
Table 149. Icon PLC: Product Portfolio
Table 150. Icon PLC: Net Sales
Table 151. Icon PLC: Key Strategies
Table 152. Iqvia: Company Snapshot
Table 153. Iqvia: Operating Segments
Table 154. Iqvia: Product Portfolio
Table 155. Iqvia: Net Sales
Table 156. Iqvia: Key Strategies
Table 157. Medpace Holding Corporation: Company Snapshot
Table 158. Medpace Holding Corporation: Operating Segments
Table 159. Medpace Holding Corporation: Product Portfolio
Table 160. Medpace Holding Corporation: Net Sales
Table 161. Medpace Holding Corporation: Key Strategies
Table 162. Oracle Corporation: Company Snapshot
Table 163. Oracle Corporation: Operating Segments
Table 164. Oracle Corporation: Product Portfolio
Table 165. Oracle Corporation: Net Sales
Table 166. Oracle Corporation: Key Strategies
Table 167. Parexel International Corporation: Company Snapshot
Table 168. Parexel International Corporation: Operating Segments
Table 169. Parexel International Corporation: Product Portfolio
Table 170. Parexel International Corporation: Net Sales
Table 171. Parexel International Corporation: Key Strategies
Table 172. Perkin Elmer Inc.: Company Snapshot
Table 173. Perkin Elmer Inc.: Operating Segments
Table 174. Perkin Elmer Inc.: Product Portfolio
Table 175. Perkin Elmer Inc.: Net Sales
Table 176. Perkin Elmer Inc.: Key Strategies
Table 177. Sas Institute Inc.: Company Snapshot
Table 178. Sas Institute Inc.: Operating Segments
Table 179. Sas Institute Inc.: Product Portfolio
Table 180. Sas Institute Inc.: Net Sales
Table 181. Sas Institute Inc.: Key Strategies
Table 182. Symphony Innovation LLC: Company Snapshot
Table 183. Symphony Innovation LLC: Operating Segments
Table 184. Symphony Innovation LLC: Product Portfolio
Table 185. Symphony Innovation LLC: Net Sales
Table 186. Symphony Innovation LLC: Key Strategies
Table 187. Syneos Health Inc.: Company Snapshot
Table 188. Syneos Health Inc.: Operating Segments
Table 189. Syneos Health Inc.: Product Portfolio
Table 190. Syneos Health Inc.: Net Sales
Table 191. Syneos Health Inc.: Key Strategies
List of Figures
Figure 1. Real World Evidence Solutions Market Segmentation
Figure 2. Real World Evidence Solutions Market, 2021-2031
Figure 3. Real World Evidence Solutions Market, 2021-2031
Figure 4. Top Investment Pockets, by Region
Figure 5. Porter Five-1
Figure 6. Porter Five-2
Figure 7. Porter Five-3
Figure 8. Porter Five-4
Figure 9. Porter Five-5
Figure 10. Top Player Positioning
Figure 11. Real World Evidence Solutions Mark.:Drivers, Restraints and Opportunities
Figure 12. Real World Evidence Solutions Market, By Components, 2021(%)
Figure 13. Comparative Share Analysis of Data Sets Real World Evidence Solutions Market, 2021-2031(%)
Figure 14. Comparative Share Analysis of Consulting Services Real World Evidence Solutions Market, 2021-2031(%)
Figure 15. Real World Evidence Solutions Market, By Application, 2021(%)
Figure 16. Comparative Share Analysis of Market Access and Reimbursement Coverage Decisions Real World Evidence Solutions Market, 2021-2031(%)
Figure 17. Comparative Share Analysis of Drug Development and Approvals Real World Evidence Solutions Market, 2021-2031(%)
Figure 18. Comparative Share Analysis of Post Market Surveillance Real World Evidence Solutions Market, 2021-2031(%)
Figure 19. Comparative Share Analysis of Medical Device Development and Approvals Real World Evidence Solutions Market, 2021-2031(%)
Figure 20. Comparative Share Analysis of Others Real World Evidence Solutions Market, 2021-2031(%)
Figure 21. Real World Evidence Solutions Market, By End-user, 2021(%)
Figure 22. Comparative Share Analysis of Pharmaceutical and Medical Device Companies Real World Evidence Solutions Market, 2021-2031(%)
Figure 23. Comparative Share Analysis of Healthcare Payers Real World Evidence Solutions Market, 2021-2031(%)
Figure 24. Comparative Share Analysis of Healthcare Providers Real World Evidence Solutions Market, 2021-2031(%)
Figure 25. Comparative Share Analysis of Others Real World Evidence Solutions Market, 2021-2031(%)
Figure 26. Real World Evidence Solutions Market by Region, 2021
Figure 27. U.S. Real World Evidence Solutions Market, 2021-2031($Million)
Figure 28. Canada Real World Evidence Solutions Market, 2021-2031($Million)
Figure 29. Mexico Real World Evidence Solutions Market, 2021-2031($Million)
Figure 30. Germany Real World Evidence Solutions Market, 2021-2031($Million)
Figure 31. France Real World Evidence Solutions Market, 2021-2031($Million)
Figure 32. Uk Real World Evidence Solutions Market, 2021-2031($Million)
Figure 33. Italy Real World Evidence Solutions Market, 2021-2031($Million)
Figure 34. Spain Real World Evidence Solutions Market, 2021-2031($Million)
Figure 35. Rest of Europe Real World Evidence Solutions Market, 2021-2031($Million)
Figure 36. Japan Real World Evidence Solutions Market, 2021-2031($Million)
Figure 37. China Real World Evidence Solutions Market, 2021-2031($Million)
Figure 38. Australia Real World Evidence Solutions Market, 2021-2031($Million)
Figure 39. India Real World Evidence Solutions Market, 2021-2031($Million)
Figure 40. South Korea Real World Evidence Solutions Market, 2021-2031($Million)
Figure 41. Rest of Asia Pacifc Real World Evidence Solutions Market, 2021-2031($Million)
Figure 42. Brazil Real World Evidence Solutions Market, 2021-2031($Million)
Figure 43. Saudi Arabia Real World Evidence Solutions Market, 2021-2031($Million)
Figure 44. South Africa Real World Evidence Solutions Market, 2021-2031($Million)
Figure 45. Rest of LAMEA Real World Evidence Solutions Market, 2021-2031($Million)
Figure 46. Top Winning Strategies, by Year
Figure 47. Top Winning Strategies, by Development
Figure 48. Top Winning Strategies, by Company
Figure 49. Product Mapping of Top 10 Players
Figure 50. Competitive Dashboard
Figure 51. Competitive Heatmap of Top 10 Key Players
Figure 52. Clinigen Group pl.: Net Sales, ($Million)
Figure 53. Cognizant Technology Solutions Corp.: Net Sales, ($Million)
Figure 54. Clarivate pl.: Net Sales, ($Million)
Figure 55. Ibm Corporatio.: Net Sales, ($Million)
Figure 56. Elevance Health In.: Net Sales, ($Million)
Figure 57. Flatiron Healt.: Net Sales, ($Million)
Figure 58. Icon pl.: Net Sales, ($Million)
Figure 59. Iqvi.: Net Sales, ($Million)
Figure 60. Medpace Holding Corporatio.: Net Sales, ($Million)
Figure 61. Oracle Corporatio.: Net Sales, ($Million)
Figure 62. Parexel International Corporatio.: Net Sales, ($Million)
Figure 63. Perkin Elmer In.: Net Sales, ($Million)
Figure 64. Sas Institute In.: Net Sales, ($Million)
Figure 65. Symphony Innovation LL.: Net Sales, ($Million)
Figure 66. Syneos Health In.: Net Sales, ($Million)
Executive Summary
According to the report, “Real World Evidence Solutions Market," the Real World Evidence Solutions Market size was valued at $1.4 billion in 2021, and is estimated to reach $5 billion by 2031, growing at a CAGR of 13.7% from 2022 to 2031.Real-world evidence (RWE) is defined as the clinical evidence about the usage and potential benefits or risks of a medical product derived from the analysis of real-world data (RWD). It can be generated by different study designs or analyses, randomized trials, including large simple trials, pragmatic trials, and observational studies (prospective and/or retrospective).
Real World Evidence Solutions Market trends are an 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 the adoption of technologically advanced real-world evidence solutions; and an increase in the number of pipeline drugs are the key factors that further boost the growth of the 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 Real World Evidence Solutions Market growth.
However, lack of awareness, reluctance to rely on real-world data hampers 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 opportunities for the growth of the real-world evidence solutions market during the forecast period. The real-world evidence solutions market is segmented on the basis of component, application, end-user and region.
On the basis of components, the real-world evidence solutions market is segmented into datasets and consulting services. In 2021, the datasets segment accounted for the largest share of the market. The dominance of this segment can be attributed to rising in prevalence of chronic and autoimmune disorders and the increase in adoption of artificial intelligence-based RWE solutions by pharma companies.
On the basis of application, the RWE Solutions Market is segmented into market access & reimbursement/coverage decisions, drug development and approvals, post-market surveillance, medical device development and approvals and others. The market access & reimbursement/coverage decisions segment exhibited the highest growth in 2021 and is anticipated to lead during the forecast period, owing to an increase in demand for reimbursement policies, an increase in demand for real-world evidence solutions to accelerate market access & reimbursement/coverage decisions, rise in access of pharmaceuticals to poor and middle-class families due to increase in disposable income and rise in investments by biopharmaceutical companies in R&D activities for drug development.
By end user, the RWE Solutions Industry is segmented into pharmaceutical and medical device companies, healthcare providers, healthcare payers, and others. The pharmaceutical and medical device companies segment exhibited the highest growth in 2021 and is anticipated to lead during the forecast period, owing to the rise in the prevalence of chronic diseases and the increase in R&D activities and production processes by large-scale pharma companies, which are the key factors that drive the growth of the market in upcoming years.
North America accounted for a majority of the Real World Evidence Solutions Market share in 2021 and is anticipated to remain dominant during the forecast period, owing to an increase in demand for real-world evidence-based solutions or services, the shift toward value-based care instead of volume and the strategies they adopt for their product development.
Asia-Pacific was the second largest contributor to the market in 2021, and is expected to register the fastest CAGR during the forecast period, owing to a rise in geriatric population, increase in the prevalence of cancer and other chronic diseases, rise in geriatric population, increase in a number of cancer patients and an emerging economy.
The key players that operate in the real-world evidence solutions market are Clarivate PLC, Clinigen Group PLC, Cognizant Technology Solution Corporation, Elevance Health Inc., Flatiron Health, IBM Corporation, ICON PLC, IQVIA, Medpace Holding Corporation, Oracle Corporation, Parexel International Corporation, Perkin Elmer Inc., SAS Institute Inc., Symphony Innovation LLC, and Syneos Health Inc.
Key Findings of the Study
- By component, the datasets segment was the highest contributor to the market in 2021.
- By application, the market access and reimbursement/coverage decisions segment was the highest contributor in 2021.
- By end user, the pharmaceutical and medical device companies dominated the market in 2021 and is expected to continue this trend during the forecast period.
- By region, North America garnered the largest revenue share in 2021, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period
Companies Mentioned
- 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
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 377 |
| Published | September 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 1369.3 million |
| Forecasted Market Value ( USD | $ 4993.24 million |
| Compound Annual Growth Rate | 13.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 15 |
