Real World Evidence Solutions Market Insights on Emerging Scope Prophesy

As per the latest report published by Future Market Insights, the Real World Evidence Solutions Market is valued at US$ 39.2 Billion in 2021 and is anticipated to reach the valuation of US$ 110 Billion by the end of 2032 by growing at a CAGR of 10%.

The compound annual growth rate for the forecasted period is significantly higher from the historical CAGR of 8.6%. Furthermore, the market is expected to witness an absolute dollar opportunity of US$ 67.2 in the coming 10 years.

Services category is expected to garner an absolute dollar opportunity of US$ 41 Bn during 2022 – 2032. During this period, the services segment is projected to account for the majority share in the global market and is predicted to increase at a compound annual growth rate of 10.4%. The pharmaceutical and biotechnology industries are driving market expansion by increasing their use of real-world services. Among these segments, the clinical data collected during ongoing patient treatment or as a part of a formal clinical trial program is a common source of information in most medical studies.

There can be seen a shift from volume-based to value-based care, favorable policies from the government, increasing R&D expenditure and a growing focus on end-to-end RWE services, which are driving the global market. By the end of 2032, the Global Market for Real World Evidence Solutions will show a valuation of US$ 110 Bn. Furthermore, a growing emphasis on personalized healthcare, increase in the frequency of chronic diseases, growing geriatric population, and regulatory support for the implementation of RWE solutions are expected to drive market expansion.

Market Segments Covered:

By Component:

Services
Data Sets
- Clinical Settings Data
- Claims Data
- Pharmacy data
- Patient-powered Data

By Application:

Reimbursement/Coverage & Regulatory Decision Making
Drug Development & Approvals
Medical Device Development & Approvals
Post Market Safety & Adverse Events Monitoring

By End-user:

Healthcare payers
Pharmaceutical & Medical Device Companies
Healthcare Providers
Other End-users

Competitive Landscape:

The Real World Evidence Solutions Market is driven by the Market players who are expanding their product portfolios by highly investing in the R&D and Product development areas. Furthermore, to retain their dominance in global market they are expanding by means of strategic mergers and acquisitions and creating the market presence in the untapped market across the globe. They are anticipated to take advantage of the increased awareness, improved infrastructure and increased regulatory approvals for the RWE solutions.

The key competitors in the Real World Evidence Solutions Market are –