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Real World Evidence Solutions Market Size to Reach US$ 70.4 billion by 2030

According to Report, the Real World Evidence Solutions Market size is expected to reach around US$ 70.4 billion by 2030 and is anticipated to grow at a CAGR of 8.6% during forecast period 2021 to 2030.

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The real world evidence solutions market has been projected to grow at a noticeable speed in the years to come. Market growth across the world has been possible with the increasing support from the regulatory bodies around the world to use these real world evidence solutions. Further, the rising amount of spending on different R & D activities is also predicted to fuel growth opportunities in the market during the forecast period. There has been a noticeable shift from the volume to the value-based care globally that also fuel expansion avenues in the market.

Rapidly growing big data in healthcare, shift from volume to value-based care, and rising focus towards personalized healthcare are the key factors driving the growth of the global RWE solutions market. Further, significant growth opportunities for existing market players and new entrants are provided by emerging markets, rising focus on end-to-end RWE services, and the rising adoption of wearable devices and AI in RWE.

Report Coverage

Report Scope Details
Market Size US$ 70.4 billion by 2030
Growth Rate CAGR of 8.6% From 2021 to 2030
Base Year 2021
Forecast Period 2021 to 2030
Segments Covered Component, Application, End user
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Companies Mentioned IQVIA; IBM; PPD, Inc.; Parexel International Corp.; PerkinElmer, Inc.; Icon Plc; Oracle; Syneos Health; Cegedim Health Data; Medpace

During the pandemic, companies in the market diverted their focus towards providing solutions for curbing the spread of COVID-19. For instance, IBM collaborated with Salesforce for building digital health passes, which incorporated data, such as vaccine status, temperature checks, and COVID-19 test results for helping organizations to reopen safely. It also partnered with ServiceNow on Watson AIOps for supporting it to continue its leadership in transformative Artificial Intelligence (AI) by helping clients automate IT operations and reduce risks.

By Regional Analysis

North America accounted for the largest revenue share of 44.4% in 2020. The large share of the region is credited to the presence of key players in the U.S. Rising number of RWE service providers and favorable government regulations in the region are expected to drive the market further.

Asia Pacific is expected to be the fastest-growing regional market during the forecast years owing to the rising government initiatives for the adoption of RWE studies and the presence of many Contract Research Organizations(CROs) and manufacturing companies in countries, such as China and India.

Key Players

  • IQVIA
  • IBM
  • PPD, Inc.
  • Parexel International Corp.
  • PerkinElmer, Inc.
  • Icon Plc
  • Oracle
  • Syneos Health
  • Cegedim Health Data
  • Medpace

Market Segmentation

  • By Component
    • Services
    • Data Sets
      • Clinical Settings Data
      • Claims Data
      • Pharmacy Data
      • Patient-Powered Data
  • By Application
    • Drug Development & Approvals
    • Medical Device Development & Approvals
    • Reimbursement/Coverage & Regulatory Decision Making
    • Post Market Safety & Adverse Events Monitoring
  • By End-user
    • Pharmaceutical & Medical Device Companies
    • Healthcare Payers
    • Healthcare Providers
    • Others
  • Regional
    • North America
      • U.S.
      • Canada
    • Europe
      • Germany
      • U.K.
      • France
      • Italy
      • Spain
    • Asia Pacific
      • China
      • India
      • Japan
      • Australia
      • South Korea
    • Latin America
      • Brazil
      • Mexico
      • Argentina
    • MEA
      • South Africa
      • Saudi Arabia
      • Israel

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Market Report Highlights

  • Favorable government initiatives and shift from volume to value-based care is expected to boost the market growth
  • The services segment led the market in 2020 owing to the increased demand
  • The drug development & approvals segment dominated the market in 2020 owing to the high adoption of RWE solutions in pharmaceutical companies for this application
  • The healthcare payers segment is anticipated to grow at the fastest CAGR owing to the rising awareness regarding drug and medical device safety
  • North America led the global market in 2020 owing to the presence of major players in the region
  • Asia Pacific is expected to be the fastest-growing regional market from 2021 to 2030

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

Table of Contents

Chapter 1.  Introduction

1.1.  Research Objective

1.2.  Scope of the Study

1.3.  Definition

Chapter 2.  Research Methodology

2.1.  Research Approach

2.2.  Data Sources

2.3.  Assumptions & Limitations

Chapter 3.  Executive Summary

3.1.  Market Snapshot

Chapter 4.  Market Variables and Scope

4.1.  Introduction

4.2.  Market Classification and Scope

4.3.  Industry Value Chain Analysis

4.3.1.    Raw Material Procurement Analysis

4.3.2.    Sales and Distribution Channel Analysis

4.3.3.    Downstream Buyer Analysis

Chapter 5.  Market Dynamics Analysis and Trends

5.1.  Market Dynamics

5.1.1.    Market Drivers

5.1.2.    Market Restraints

5.1.3.    Market Opportunities

5.2.  Porter’s Five Forces Analysis

5.2.1.    Bargaining power of suppliers

5.2.2.    Bargaining power of buyers

5.2.3.    Threat of substitute

5.2.4.    Threat of new entrants

5.2.5.    Degree of competition

Chapter 6.  Competitive Landscape

6.1.1.    Company Market Share/Positioning Analysis

6.1.2.    Key Strategies Adopted by Players

6.1.3.    Vendor Landscape

6.1.3.1.        List of Suppliers

6.1.3.2.        List of Buyers

Chapter 7.  Global Real World Evidence Solutions Market, By Component

7.1.  Real World Evidence Solutions Market, by Component, 2021-2030

7.1.1.    Services

7.1.1.1.        Market Revenue and Forecast (2017-2030)

7.1.2.    Data Sets

7.1.2.1.        Market Revenue and Forecast (2017-2030)

Chapter 8.  Global Real World Evidence Solutions Market, By Application

8.1.  Real World Evidence Solutions Market, by Application, 2021-2030

8.1.1.    Drug Development & Approvals

8.1.1.1.        Market Revenue and Forecast (2017-2030)

8.1.2.    Medical Device Development & Approvals

8.1.2.1.        Market Revenue and Forecast (2017-2030)

8.1.3.    Reimbursement/Coverage & Regulatory Decision Making

8.1.3.1.        Market Revenue and Forecast (2017-2030)

8.1.4.    Post Market Safety & Adverse Events Monitoring

8.1.4.1.        Market Revenue and Forecast (2017-2030)

Chapter 9.  Global Real World Evidence Solutions Market, By End User

9.1.  Real World Evidence Solutions Market, by End User, 2021-2030

9.1.1.    Pharmaceutical & Medical Device Companies

9.1.1.1.        Market Revenue and Forecast (2017-2030)

9.1.2.    Healthcare Payers

9.1.2.1.        Market Revenue and Forecast (2017-2030)

9.1.3.    Healthcare Providers

9.1.3.1.        Market Revenue and Forecast (2017-2030)

Chapter 10.      Global Real World Evidence Solutions Market, Regional Estimates and Trend Forecast

10.1.        North America

10.1.1.  Market Revenue and Forecast, by Component (2017-2030)

10.1.2.  Market Revenue and Forecast, by Application (2017-2030)

10.1.3.  Market Revenue and Forecast, by End User (2017-2030)

10.1.4.  U.S.

10.1.4.1.      Market Revenue and Forecast, by Component (2017-2030)

10.1.4.2.      Market Revenue and Forecast, by Application (2017-2030)

10.1.4.3.      Market Revenue and Forecast, by End User (2017-2030)

10.1.5.  Rest of North America

10.1.5.1.      Market Revenue and Forecast, by Component (2017-2030)

10.1.5.2.      Market Revenue and Forecast, by Application (2017-2030)

10.1.5.3.      Market Revenue and Forecast, by End User (2017-2030)

10.2.        Europe

10.2.1.  Market Revenue and Forecast, by Component (2017-2030)

10.2.2.  Market Revenue and Forecast, by Application (2017-2030)

10.2.3.  Market Revenue and Forecast, by End User (2017-2030)

10.2.4.  UK

10.2.4.1.      Market Revenue and Forecast, by Component (2017-2030)

10.2.4.2.      Market Revenue and Forecast, by Application (2017-2030)

10.2.4.3.      Market Revenue and Forecast, by End User (2017-2030)

10.2.5.  Germany

10.2.5.1.      Market Revenue and Forecast, by Component (2017-2030)

10.2.5.2.      Market Revenue and Forecast, by Application (2017-2030)

10.2.5.3.      Market Revenue and Forecast, by End User (2017-2030)

10.2.6.  France

10.2.6.1.      Market Revenue and Forecast, by Component (2017-2030)

10.2.6.2.      Market Revenue and Forecast, by Application (2017-2030)

10.2.6.3.      Market Revenue and Forecast, by End User (2017-2030)

10.2.7.  Rest of Europe

10.2.7.1.      Market Revenue and Forecast, by Component (2017-2030)

10.2.7.2.      Market Revenue and Forecast, by Application (2017-2030)

10.2.7.3.      Market Revenue and Forecast, by End User (2017-2030)

10.3.        APAC

10.3.1.  Market Revenue and Forecast, by Component (2017-2030)

10.3.2.  Market Revenue and Forecast, by Application (2017-2030)

10.3.3.  Market Revenue and Forecast, by End User (2017-2030)

10.3.4.  India

10.3.4.1.      Market Revenue and Forecast, by Component (2017-2030)

10.3.4.2.      Market Revenue and Forecast, by Application (2017-2030)

10.3.4.3.      Market Revenue and Forecast, by End User (2017-2030)

10.3.5.  China

10.3.5.1.      Market Revenue and Forecast, by Component (2017-2030)

10.3.5.2.      Market Revenue and Forecast, by Application (2017-2030)

10.3.5.3.      Market Revenue and Forecast, by End User (2017-2030)

10.3.6.  Japan

10.3.6.1.      Market Revenue and Forecast, by Component (2017-2030)

10.3.6.2.      Market Revenue and Forecast, by Application (2017-2030)

10.3.6.3.      Market Revenue and Forecast, by End User (2017-2030)

10.3.7.  Rest of APAC

10.3.7.1.      Market Revenue and Forecast, by Component (2017-2030)

10.3.7.2.      Market Revenue and Forecast, by Application (2017-2030)

10.3.7.3.      Market Revenue and Forecast, by End User (2017-2030)

10.4.        MEA

10.4.1.  Market Revenue and Forecast, by Component (2017-2030)

10.4.2.  Market Revenue and Forecast, by Application (2017-2030)

10.4.3.  Market Revenue and Forecast, by End User (2017-2030)

10.4.4.  GCC

10.4.4.1.      Market Revenue and Forecast, by Component (2017-2030)

10.4.4.2.      Market Revenue and Forecast, by Application (2017-2030)

10.4.4.3.      Market Revenue and Forecast, by End User (2017-2030)

10.4.5.  North Africa

10.4.5.1.      Market Revenue and Forecast, by Component (2017-2030)

10.4.5.2.      Market Revenue and Forecast, by Application (2017-2030)

10.4.5.3.      Market Revenue and Forecast, by End User (2017-2030)

10.4.6.  South Africa

10.4.6.1.      Market Revenue and Forecast, by Component (2017-2030)

10.4.6.2.      Market Revenue and Forecast, by Application (2017-2030)

10.4.6.3.      Market Revenue and Forecast, by End User (2017-2030)

10.4.7.  Rest of MEA

10.4.7.1.      Market Revenue and Forecast, by Component (2017-2030)

10.4.7.2.      Market Revenue and Forecast, by Application (2017-2030)

10.4.7.3.      Market Revenue and Forecast, by End User (2017-2030)

10.5.        Latin America

10.5.1.  Market Revenue and Forecast, by Component (2017-2030)

10.5.2.  Market Revenue and Forecast, by Application (2017-2030)

10.5.3.  Market Revenue and Forecast, by End User (2017-2030)

10.5.4.  Brazil

10.5.4.1.      Market Revenue and Forecast, by Component (2017-2030)

10.5.4.2.      Market Revenue and Forecast, by Application (2017-2030)

10.5.4.3.      Market Revenue and Forecast, by End User (2017-2030)

10.5.5.  Rest of LATAM

10.5.5.1.      Market Revenue and Forecast, by Component (2017-2030)

10.5.5.2.      Market Revenue and Forecast, by Application (2017-2030)

10.5.5.3.      Market Revenue and Forecast, by End User (2017-2030)

Chapter 11.  Company Profiles

11.1.              IQVIA

11.1.1.  Company Overview

11.1.2.  Product Offerings

11.1.3.  Financial Performance

11.1.4.  Recent Initiatives

11.2.              IBM

11.2.1.  Company Overview

11.2.2.  Product Offerings

11.2.3.  Financial Performance

11.2.4.  Recent Initiatives

11.3.              PPD, Inc.

11.3.1.  Company Overview

11.3.2.  Product Offerings

11.3.3.  Financial Performance

11.3.4.  Recent Initiatives

11.4.              Parexel International Corp.

11.4.1.  Company Overview

11.4.2.  Product Offerings

11.4.3.  Financial Performance

11.4.4.  Recent Initiatives

11.5.              PerkinElmer, Inc.

11.5.1.  Company Overview

11.5.2.  Product Offerings

11.5.3.  Financial Performance

11.5.4.  Recent Initiatives

11.6.              Icon Plc

11.6.1.  Company Overview

11.6.2.  Product Offerings

11.6.3.  Financial Performance

11.6.4.  Recent Initiatives

11.7.              Oracle

11.7.1.  Company Overview

11.7.2.  Product Offerings

11.7.3.  Financial Performance

11.7.4.  Recent Initiatives

11.8.              Syneos Health

11.8.1.  Company Overview

11.8.2.  Product Offerings

11.8.3.  Financial Performance

11.8.4.  Recent Initiatives

11.9.              Cegedim Health Data

11.9.1.  Company Overview

11.9.2.  Product Offerings

11.9.3.  Financial Performance

11.9.4.  Recent Initiatives

11.10.           Medpace

11.10.1.               Company Overview

11.10.2.               Product Offerings

11.10.3.               Financial Performance

11.10.4.               Recent Initiatives

Chapter 12.  Research Methodology

12.1.              Primary Research

12.2.              Secondary Research

12.3.              Assumptions

Chapter 13.  Appendix

13.1.              About Us

13.2.              Glossary of Terms

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