Real World Evidence Solutions Market is expected to generate a revenue of USD 2463.14 Million by 2028, Globally, at 13.92% CAGR: Verified Market Research®
The global real world evidence solutions market is primarily driven by the rising incidence of various chronic disorders and the growing geriatric population in the world. Along with these primary driving factors, the market is also being boosted by the trend of value-based care, the growing cost required for the drug development process, the rising importance of personal care, and the growing spending on research and development.
Jersey City, New Jersey, Nov. 21, 2022 (GLOBE NEWSWIRE) — Verified Market Research recently published a report, “Real World Evidence Solutions Market” By Component (Clinical Settings Data, Patient-Powered Data, Pharmacy Data, and Claims Data), By End-User (Healthcare Payer, Pharmaceutical & Medical Device Companies, Healthcare Providers and Others), By Geographic Scope And Forecast.
As per the deep research carried out by Verified Market Research, the global Real World Evidence Solutions Market size was valued at USD 870.79 Million in 2020 and is projected to reach USD 2463.14 Million by 2028, growing at a CAGR of 13.92% from 2021 to 2028.
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Global Real World Evidence Solutions Market Overview
Real World Evidence solutions are used for producing clinical evidence based on the real-world data or RWD of any product which includes its use, benefits, and its dangers. Real World Data includes observational data of any medical product which is collected through routine clinical practices. Real World Data includes vast information such as insights, extrapolative results, foresight on diseases, medical devices, and unmet patient needs. Because of such applications, RWE solutions are in huge demand. This is largely used by pharmaceutical companies and healthcare insurance companies. RWE solutions allow these bodies to provide the necessary care to the patients based on RWD while keeping the financial risks at a minimum.
Due to the vast applications of RWE solutions, regulatory agencies have increased their support for such solutions. This factor is primarily expected to drive the demand for RWE solutions during the forecast period. These regulatory agencies use various digital aids and pharmacovigilance methods to implement RWE solutions to monitor medical products available in the market. Because of this, the legislators are also promoting the use of RWE solutions so much so that many regulatory agencies are planning to make RWE solutions a core part of their operations. All these factors altogether are expected to boost the demand for RWE solutions, thus boosting the growth of the Real World Evidence solutions market.
The major players in the market are Parexel International Corporation, International Business Machines Corporation (IBM), PerkinElmer, Inc., Oracle Corporation, Cognizant Technology Solutions Corporation, and Monitor Deloitte.
Verified Market Research has segmented the Global Real World Evidence Solutions Market On the basis of Component, End-User, and Geography.
- Real World Evidence Solutions Market, By Component
- Clinical Settings Data
- Patient-Powered Data
- Pharmacy Data
- Claims Data
- Real World Evidence Solutions Market, By End-User
- Healthcare Payer
- Pharmaceutical & Medical Device Companies
- Healthcare Providers
- Real World Evidence Solutions Market, By Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Latin America
- North America
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