PUBLISHER: The Business Research Company | PRODUCT CODE: 1653302
PUBLISHER: The Business Research Company | PRODUCT CODE: 1653302
Real-world evidence (RWE) refers to clinical insights obtained from data collected outside of controlled clinical trials. This data can come from various sources, including electronic health records, insurance claims, and patient registries. RWE is valuable for evaluating the safety, effectiveness, and usage of medical treatments in real-world healthcare settings.
Key components of real-world evidence solutions include services, data sets, clinical setting data, claims data, pharmacy data, and patient-powered data. Services encompass activities or tasks performed with a commercial purpose and find application in various therapeutic areas such as oncology, cardiovascular disease, neurology, immunology, and others. These solutions are employed in critical processes such as drug development and approval, medical device development and approval, reimbursement/coverage and regulatory decision-making, as well as post-market safety and adverse event monitoring. End-users of real-world evidence solutions include pharmaceutical and medical device companies, healthcare providers, healthcare payers, and other entities.
The real world evidence solutions market research report is one of a series of new reports from The Business Research Company that provides real world evidence solutions market statistics, including real world evidence solutions industry global market size, regional shares, competitors with a real world evidence solutions market share, detailed real world evidence solutions market segments, market trends and opportunities, and any further data you may need to thrive in the real world evidence solutions industry. This real-world evidence solutions market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The real world evidence solutions market size has grown rapidly in recent years. It will grow from $2.03 billion in 2024 to $2.34 billion in 2025 at a compound annual growth rate (CAGR) of 14.9%. 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 $4.21 billion in 2029 at a compound annual growth rate (CAGR) of 15.9%. The growth in the forecast period can be attributed to customized rwe solutions for specificTherapeutic 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.
The increasing geriatric population is anticipated to drive the growth of the real-world evidence solutions market. The geriatric population, defined as individuals aged 65 and older, is at a higher risk for various issues, including postural hypotension and balance or gait impairments. Aging also heightens the risk of chronic diseases such as strokes, cardiovascular conditions, type 2 diabetes, arthritis, and cancer. For instance, data published by the Population Reference Bureau, a nonprofit organization based in the U.S., indicates that the population of Americans aged 65 and older is projected to rise from 58 million in 2022 to 82 million by 2050, representing a 47% increase. Furthermore, their proportion of the total population is expected to grow from 17% to 23%. Consequently, the expanding geriatric population is a key driver of the real-world evidence solutions market.
Government support is poised to play a crucial role in propelling the growth of the real-world evidence solutions market in the future. Increased government initiatives aimed at enhancing public awareness and understanding of real-world evidence solutions have a positive impact on the overall market expansion. Government backing creates a conducive environment for the adoption and growth of real-world evidence solutions in the healthcare industry. This support empowers healthcare providers and pharmaceutical companies to make more informed decisions concerning patient care and drug development. Notably, in February 2023, the UK government pledged increased investment with a specific focus on entities responsible for approving medical devices and ensuring compliance with new regulatory requirements. Additionally, the Romanian government, in June 2022, launched the National Agency for Health Infrastructure Development to bring more coherence to investments in health infrastructure. Thus, government support is expected to contribute significantly to the growth of the real-world evidence solutions market.
The advancement of real-world evidence has emerged as a significant trend in the real-world evidence market. The ability to achieve commercial success and facilitate informed decision-making through real-world data is increasingly important, and real-world evidence effectively meets the demand for additional insights. For example, in May 2023, Inspire, a data infrastructure and analytics company based in the U.S., introduced its Real-World Evidence (RWE) solutions. Inspire RWE provides innovative data and analytics tools for life sciences companies, utilizing its patient engagement platform to collect real-world insights from millions of patients, with the goal of enhancing patient-centered healthcare outcomes.
Major companies in the real-world evidence solutions market are actively developing innovative products, such as the introduction of a new Real-World Evidence (RWE) Solutions service designed to optimize evidence-based medicine. Real-World Evidence Solutions services aim to generate and analyze clinical evidence on the usage, potential benefits, and risks of medical products using real-world data (RWD) derived from routine healthcare delivery. For instance, in October 2023, Maxis Clinical Sciences launched a new Real-World Evidence (RWE) Solutions service, combining various RWD sources, including patient-reported outcomes and data from wearable devices, to enhance patient participation and data quality.
In October 2022, Cegedim SA, a software company based in France, acquired Clinityx for an undisclosed amount. This acquisition bolsters Cegedim's Real-World Data portfolio, furthering its objective to become a leader in Europe's real-world health data market by enhancing its data-driven healthcare solutions. Clinityx, also based in France, specializes in health data and real-world data solutions.
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.
North America was the largest region in the real world evidence solutions market in 2024. Asia-Pacific is expected to be the fastest-growing region in the real world evidence solutions market share during the forecast period. The regions covered in the real-world evidence solutions market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The countries covered in the real-world evidence solutions market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The real-world evidence solutions market consists of sales of solutions that are used in randomized trials, large simple trials, pragmatic trials, and observational studies. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Real World Evidence Solutions Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on real world evidence solutions market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for real world evidence solutions ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The real world evidence solutions market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.