Lewes, Del., Aug. 26, 2024 (GLOBE NEWSWIRE) — The Global Real-World Evidence Solutions Market Size is expected to grow at CAGR of 13.92% from 2024 to 2031says a new report from Verified Market Research®. The report shows that the market for 1.30 billion USD in 2024 and is expected to reach 3.71 billion USD until the end of the forecast period.
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Browse detailed table of contents To “Global Real-World Evidence Solutions Market Size”
202 – Pages
126 – Tables
37 – Numbers
Scope of the report
| REPORT ATTRIBUTES | DETAILS |
| STUDY TIME | 2021-2031 |
| BASE YEAR | 2024 |
| FORECAST PERIOD | 2024–2031 |
| HISTORICAL PERIOD | 2021-2023 |
| UNIT | Value (millions USD) |
| PROFILE OF THE MAIN COMPANIES | : IQVIA, Optum, ICON, Syneos Health, Flatiron Health, PPD, PAREXEL, Oracle, Aetion. |
| SEGMENTS COVERED | By data source, by therapeutic area, by application and by geography. |
| SCOPE OF ADJUSTMENT | Free customization of the report (equivalent to up to 4 analyst working days) upon purchase. Addition or change of country, regional and segment scope |
Market overview for Real World Evidence Solutions
Regulatory support to strengthen market confidence: The increasing recognition of real-world evidence by regulatory agencies such as the FDA is driving the expansion of the real-world evidence solutions market. Regulatory support provides incentives for pharmaceutical companies to use real-world evidence (RWE) in the drug approval process, leading to improved market prospects and promoting growth.
Cost-efficient drug development: Real-world evidence solutions effectively reduce the time and cost of drug development by leveraging real-world data. The efficiency of the real-world evidence solutions market is attractive to biopharmaceutical companies looking to maximize their R&D efforts, making it an indispensable tool in the industry.
Increasing prevalence of chronic diseases: Due to the increasing burden of chronic diseases worldwide, continuous monitoring and real-time data analysis are required. Solutions with real-world evidence analytics provide useful insights into patient treatment outcomes, leading to their widespread application in the healthcare industry and contributing to the strong growth of the market.
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Privacy concerns: Although the Real World Evidence Solutions market has its advantages, it faces difficulties due to strict data protection requirements. Widespread adoption of RWE solutions may be hampered by concerns about the security of patient data, which may slow market expansion and affect long-term growth.
High implementation costs: Smaller healthcare providers and enterprises may find it difficult to afford the costs of implementing real-world evidence solutions. The exorbitant costs of real-world evidence solutions hinder their market expansion, especially in developing areas, and represent a significant obstacle to the continued progress of the industry.
Variability of data quality: Inconsistent and variable data quality remains a critical challenge in the Real World Evidence Solutions market. The lack of standardized methodologies leads to unreliable insights that can prevent stakeholders from fully engaging with RWE solutions, thus slowing market growth.
Geographical dominance:
The Real World Evidence Solutions market is mainly dominated by North America, which is mainly attributed to the highly developed healthcare infrastructure, strong presence of key players, and favorable regulatory environment. This dominance encourages the development of new and improved solutions in the renewable energy sector, which in turn leads to more investments and rapid expansion of the market. Furthermore, the recognition of Real World Evidence by the US government strengthens North America’s authority in healthcare decision-making. Nevertheless, this regional hegemony could limit the expansion potential in developing markets.
Key players in the Real World Evidence Solutions market are shaping the future
Key players include : IQVIA, Optum, ICON, Syneos Health, Flatiron Health, PPD, PAREXEL, Oracle, Aetion. and more play a crucial role in shaping the future of the Real World Evidence Solutions market. Financial statements, product benchmarking, and SWOT analysis provide valuable insights into the key players in the industry.
Market Segment Analysis for Real World Evidence Solutions
Based on the research, Verified Market Research® has segmented the global Real World Evidence Solutions market into data source, therapy area, application and geography.
To obtain market data, market insights and comprehensive analysis of the global Real World Evidence Solutions market, Contact Verified Market Research®.
- Real World Evidence Solutions Market by Data Source
- Electronic patient records
- Damage data
- register
- Medical devices
- Market for Real World Evidence Solutions by therapeutic areas
- oncology
- Cardiovascular diseases
- neurology
- Rare diseases
- Real World Evidence Solutions Market, by Application
- Drug development
- Clinical decision support
- Epidemiological studies
- Post-market surveillance
- Real World Evidence Solutions Market by Geographic Location
- North America
- Europe
- Germany
- France
- United Kingdom
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
- ROW
- Middle East and Africa
- Latin America
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