Market Forecast News: Real World Evidence Solutions Industry to Hit $10.83B by 2030
The report "Real World Evidence Solutions Market by Component [Datasets (Claims, Clinical, Pharmacy, Genomics), Application [Drug/Device Development (Cancer, Cardio, Neuro), Reimbursement], End User (Pharma, Medtech, Payers, Provider), Region- Global Forecast to 2030", is projected to reach USD 10.83 billion by 2030 from USD 5.42 billion in 2025, at a CAGR of 14.8% during the forecast period.
Browse 441 market data tables and 59 figures spread across 376 pages and an in-depth TOC of the global Real World Evidence Solution Market - Global Forecast to 2030"
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The growth in the real world evidence solution market is driven by the increasing shift towards value-based care. Additionally, the growing prevalence of chronic diseases and increasing innovation in pharmaceuticals & medical devices are fueling the market growth. Moreover, several companies are prioritizing using RWE solutions to reduce delays in the drug development process. Thus, the increasing availability of healthcare data coupled with the growing need to provide high-quality care to patients is expected to compel healthcare organizations to depend on these innovative methodologies & technologies, boosting the demand for RWE solutions during the forecast period.
By component, the services segment accounted for the largest share of the market in 2024.
By component, the real world evidence solutions market is segmented into services, data sets, and integrated data sets. The services segment accounted for the largest share of the market in 2024. The services segment comprises advanced analytics services and consulting services. Advanced analytical services are crucial in swiftly accessing, examining, and providing essential insights required by various stakeholders. The provision of advanced analytical technologies has allowed these services to harness the power of big data, enabling accurate and insightful analysis of real-world patient data.
By application, the drug development & approvals segment accounted for the largest market share in 2024.
By application, the real world evidence solutions market is segmented into drug development & approvals, medical device development & approvals, post-market surveillance, market access and reimbursement decision-making, clinical & regulatory decision-making, and other applications. The drug development & approvals segment is bifurcated into oncology, cardiovascular disorders, neurology, immunology, rare diseases, and other therapeutic areas. The oncology subsegment accounted for the largest share of the drug development & approvals market, owing to the increasing incidence of cancer and the growing focus on developing oncology therapeutics.
By end users, the pharmaceutical & biotechnology segment accounted for the largest share of the market in 2024.
Based on end users, the real world evidence solutions market is segmented into pharmaceutical & biotechnological companies, MedTech companies, healthcare payers, healthcare providers, and other end users. In 2024, the pharmaceutical & biotechnological companies segment accounted for the largest share of the market. The companies in this section require medical data processes that have been previously approved. The utilization of real world data plays a crucial role in facilitating the successful progression of innovative medicines through the various phases of clinical trials. Additionally, the increasing prevalence of RWE studies employed in the drug approval is a preventive measure against expensive drug recalls. These studies offer valuable analyses of how drugs perform in real-world settings, enhancing the understanding of the effectiveness and safety beyond the controlled environments of clinical trials.
By region, North America accounted for the largest share of the market in 2024.
By region, the RWE solutions market is segmented into five regions: North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2024, North America accounted for the largest share of the market. This region’s dominance is attributed to the favorable regulatory environment and the increasing adoption of EHR. An increase in the number of payers using RWE solution services is also expected to fuel the market growth. Moreover, the presence of key market players such as IQVIA Inc. (US), Optum Inc. (US), and Oracle (US) also contributes to market growth.
Key Players
The prominent players in the real world evidence solutions market are IQVIA Inc. (US), Merative (US), Optum Inc. (US), ICON Plc (Ireland), Syneos Health (US), Parexel International Corporation (US), Tata Consultancy Services (India), Oracle (US), Elevance Health (US), SAS Institute Inc. (US), Aetion Inc. (US), Trinetx, LLC (US), Trinity (US), Cognizant Technology Solutions Corporation (US), Cegedim Health Data (France), Verantos (US), Medpace Holdings Inc. (US), FLATIRON HEALTH (US), Fortrea (US), and Medidata (US) (a subsidiary of Dassault Systèmes).
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