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The global real-world evidence solutions market size reached US$ 1.41 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 3.01 Billion by 2027, exhibiting a growth rate (CAGR) of 12.70% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Real-world evidence (RWE) refers to clinical evidence about the use and potential benefits or risks of medical products via real-world data (RWD). It can be produced via different study designs or analyses, including randomized trials, big simple trials, pragmatic trials, and observational studies. It provides insight into real-world treatment patterns in patient groups, including dosing, compliance, adherence, off-label use, and the balance between efficacy and safety. As it can also assist researchers in discovering possible patients and developing correct inclusion criteria for clinical trials, which can help them design better pre-trial studies, there is a rise in the demand for RWE solutions around the world.
The growing demand for RWE solutions to get precise and clear information about the safety and efficacy of new products represents one of the key factors driving the market. Moreover, there is a rise in the demand for these solutions to detect varied reactions, product subpopulation effects, and product value when utilized by complex and comorbid patients. This, along with the burgeoning healthcare industry, is propelling the growth of the market. Additionally, the growing utilization of advanced analytics and technological solutions in RWE for clinical development, commercialization, speed innovation, and accelerating improvements in healthcare outcomes is positively influencing the market. Besides this, there are various initiatives undertaken by governments of several countries to promote the use of RWE solutions, which provide the efficacy of drugs and vaccines. This, coupled with a shift from volume to value-based care, is offering lucrative growth opportunities to industry investors. Apart from this, the growing adoption of digitalization and patient-centered virtual care is catalyzing the demand for RWE solutions. Furthermore, there is an increase in the prevalence of chronic diseases, such as cancer, obesity, and diabetes, across the globe. In line with this, the rising delays in drug development and the subsequent increase in development costs are bolstering the growth of the market.
IMARC Group provides an analysis of the key trends in each sub-segment of the global real-world evidence solutions market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on component, therapeutic area and end user.
Breakup by Component:
Breakup by Therapeutic Area:
Breakup by End User:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Aetion Inc., Clinigen Limited, Flatiron Health Inc. (Roche Holding AG), ICON plc, International Business Machines Corporation, IQVIA, Optum Inc. (UnitedHealth Group Incorporated), Oracle Corporation, Parexel International Corporation, PPD Inc. (Thermo Fisher Scientific Inc.), Sas Institute Inc. and Syneos Health.
|Base Year of the Analysis||2021|
|Segment Coverage||Component, Therapeutic Area, End User, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||Aetion Inc., Clinigen Limited, Flatiron Health Inc. (Roche Holding AG), ICON plc, International Business Machines Corporation, IQVIA, Optum Inc. (UnitedHealth Group Incorporated), Oracle Corporation, Parexel International Corporation, PPD Inc. (Thermo Fisher Scientific Inc.), Sas Institute Inc. and Syneos Health.|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2499
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Corporate License: US$ 4499
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
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