The Worldwide Real World Evidence Solutions Industry is Projected to Reach $4.9 Billion by 2031

DUBLIN, Jan. 23, 2023 /PRNewswire/ -- 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.

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 Topics Covered:

CHAPTER 1: INTRODUCTION

CHAPTER 2: EXECUTIVE SUMMARY

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

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

For more information about this report visit https://www.researchandmarkets.com/r/f0goaf

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