Real World Evidence Solutions Market Forecast to 2023

The Global Real World Evidence Solutions Market is projected to reach USD 1,348.1 million by 2023 from USD 689.9 million in 2018, at a CAGR of 14.3% during the forecast period.

The Research report provides a detailed overview of the major drivers, restraints, challenges, opportunities, current market trends, and strategies impacting the Real World Evidence Solutions Market, along with revenue estimates & forecasts and market share analysis.

The growth of this market is majorly driven by the rising geriatric population (and the subsequent increase in the prevalence of chronic diseases), shift from volume- to value-based care, and delays in drug development (and the subsequent increase in development costs).

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Real World Evidence Solutions Market segmentation:
  • Based on Component
  • Based on Therapeutic Area
  • Based on end users
  • Based on regions. 
The Major Players Opearting in the Real World Evidence Solutions Market:

Key players in the Real World Evidence Solutions Market include IQVIA (US), ICON (Ireland), PAREXEL (US), Pharmaceutical Product Development (US), Optum (US), International Business Machines Corporation (US), Cognizant (US), Oracle (US), SAS (US), Syneos Health (US), Anthem (US), Clinigen Group (UK), Palantir Technologies (UK), and Flatiron Health (US).

IQVIA is one of the world’s leading providers of real-world evidence services with a wide geographical coverage.

The company’s strong foothold in the market is primarily attributed to various factors such as its robust technical and service capabilities, good client relationships, diversified service offerings, and its ability to enhance the penetration of its offerings. With a broad and deep real-world dataset that reflects the US and global treatment environment, the company completes disease views with data sources that include both population views and extensive clinical insights. IQVIA has registered significant growth serving providers, payers and the biopharmaceutical services industry, and has a presence in all major markets, including the US, Japan, Germany, France, Spain, and Italy, in addition to Brazil, Russia, India, and China (BRIC countries)

Geographical Detailed Analysis for Real World Evidence Solutions Market:

North America is the largest regional segment in the Real World Evidence Solutions Market followed by Europe, Asia Pacific.

Presence of a favorable regulatory environment, high number of RWE service providers, the presence of a well-established pharmaceutical industry in the region, coupled with the high R&D expenditure, are the major factors responsible for the large share of North America in the global real world evidence market.

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