Real World Evidence Solutions Market Research Analysis 2024-2033 | Growth, Size, Demand, Analysis, Insights

The real world evidence solutions market size has grown rapidly in recent years. It will grow from $1.75 billion in 2023 to $2.02 billion in 2024 at a compound annual growth rate (CAGR) of 15.3%. The growth in the historic period can be attributed to growth in pharmaceutical and healthcare sectors, demand for post-market surveillance and drug safety, expansion of electronic health records and data, adoption in clinical research and outcomes assessment, regulatory standards for real-world evidence (rwe)..

The real world evidence solutions market size is expected to see rapid growth in the next few years. It will grow to $3.58 billion in 2028 at a compound annual growth rate (CAGR) of 15.4%. The growth in the forecast period can be attributed to customized rwe solutions for specific therapeutic areas, expansion of real-world data networks, innovation in real-world evidence generation, adoption of rwe in drug development and access, collaboration between healthcare and technology sectors.. Major trends in the forecast period include ai-driven predictive analytics in rwe, regulatory compliance in rwe data privacy and security, personalized rwe solutions for healthcare providers, transparency in data sharing and rwe findings, integration of rwe in drug pricing and reimbursement..

Market Overview -
Real-world evidence refers to the clinical evidence regarding the usage and potential benefits or risks of a medical product derived from the analysis of real-world data.

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Geriatric Population Spurs Demand For Real-World Evidence Solutions
The growing geriatric population is expected to propel the growth of the real-world evidence solutions market. The geriatric population refers to people aged 65 and over, who are at higher risk of falling for several reasons, including postural hypotension, and balance or gait impairment. Aging increases the threat of chronic diseases such as strokes, cardiovascular diseases, type 2 diabetes, arthritis, and cancer. For instance in October 2022, according to the data released by the World Trade Organization, a US-based international organization, from 2020 to 2021, the proportion of the population aged 60 and up increased from 1 billion to 1.4 billion. By 2050, the world's population of adults aged 60 and up will have doubled (to 2.1 billion). The number of people aged 80 or more is predicted to treble between 2020 and 2050, reaching 426 million. Therefore, the growing geriatric population is driving the growth of the real-world evidence solutions market.

Competitive Landscape -
Major companies operating in the real world evidence solutions market include Anthem Inc., Cegedim Health Data, Clarivate PLC, Clinigen Group, Cognizant Technology Solutions Corporation, Flatiron Health Inc., International Business Machines Corporation, ICON plc, IQVIA Holdings Inc., Medpace Holdings Inc., Optum Inc., Oracle Corporation, PAREXEL International Corporation, PerkinElmer Inc., PPD Inc., SAS Institute Inc., Syneos Health, Symphony Innovation LLC, UnitedHealth Group Incorporated, Amerisource Bergen Corporation, Cardinal Health, Deloitte Touche Tohmatsu Limited, Informa PLC, Palantir Technologies, UDG Healthcare PLC, Thermo Fisher Scientific Inc., Elevance Health Inc., Covance Consulting Ltd., Clinipace Worldwide, Evidera Inc., Pharmerit International, Analysis Group Inc., HealthCore Inc., Inovalon Holdings Inc., KMK Consulting Inc.

Real-World Evidence Transparency Initiative Launches Rwe Registry To Address Concerns With Rwe Studies
The development of real-world evidence has become a key trend, gaining popularity in the real-world evidence market. Achieving commercial success and convenient decision-making using real-world data is playing a key role, and real-world evidence addresses those demands for additional information. For instance, in October 2021, the International Society for Pharmacoeconomics and Outcomes Research, a US-based professional society for health economics and outcomes research, stated that the Real-World Evidence Transparency Initiative had launched the Real-World Evidence Registry. The Real-World Evidence Transparency Initiative helps in addressing potential concerns with RWE studies by launching the RWE registry and establishing a culture of transparency for the analysis and reporting of RWE in healthcare and health research.

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Key Segments -

The real world evidence solutions market covered in this report is segmented -

1) By Component: Services, Data Sets, Clinical Setting Data, Claims Data, Pharmacy Data, Patient Powered Data
2) By Therapeutic Area: Oncology, Cardiovascular, Neurology, Immunology, Other Therapeutic Areas
3) By Application: Drug Development And Approvals, Medical Device Development And Approvals, Reimbursement/Coverage And Regulatory Decision Making, Post Market Safety And Adverse Events Monitoring
4) By End-Users: Pharmaceutical And Medical Devices Companies, Healthcare Providers, Healthcare Payers, Other End-Users

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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