Press release
Real-World Evidence Solutions Market Size is Projected to Reach US$ 2.7 Billion by 2028
Industry Overview of Real-World Evidence Solutions MarketReal-world evidence solutions represent clinical evidence derived from real-world data (RWD), offering information on the usage, potential benefits, and risks of medical products. They can be obtained through various study designs and analyses, such as randomized trials, big simple trials, pragmatic trials, and observational studies. Real-world evidence solutions provide valuable insights into the actual treatment patterns observed in patient groups, encompassing aspects including dosing, compliance, adherence, off-label use, and the delicate balance between efficacy and safety. They can even aid researchers in identifying potential patients and developing accurate inclusion criteria for clinical trials, enabling them to design more robust pre-trial studies. Consequently, real-world evidence solutions find extensive demand across the globe.
How Big Is the Real-World Evidence Solutions Market?
The global real-world evidence solutions market size reached US$ 1.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.7 Billion by 2028, exhibiting a growth rate (CAGR) of 8.57% during 2023-2028.
Read Full Report: https://www.imarcgroup.com/real-world-evidence-solutions-market
What Are the Growth Prospects and Trends in The Real-World Evidence Solutions Industry?
The real-world evidence solutions market is primarily driven by shifting preferences toward precise and comprehensive assessment of the safety and efficacy of new products. Furthermore, the inflating demand for these solutions to identify diverse reactions, product effects on specific subpopulations, and the value of products when used by complex and comorbid patients is acting as another significant growth-inducing factor. Apart from this, the expanding healthcare industry and the escalating utilization of advanced analytics and technological solutions in real-world evidence solutions for commercialization, clinical development, innovation acceleration, and improvement of healthcare outcomes are also positively influencing the global market. Additionally, the implementation of numerous initiatives by government bodies across several countries aimed at promoting the use of real-world evidence solutions, which facilitate insights into the effectiveness of drugs and vaccines, is further propelling the market growth. Besides this, the elevating shift from volume-based to value-based care, the increasing adoption of digitalization and patient-centered virtual care, the growing prevalence of chronic diseases such as cancer, obesity, and diabetes, and the rising delays in drug innovations are expected to bolster the real-world evidence solutions market in the coming years.
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What is included in market segmentation?
The report provides detailed segmentation of the global real-world evidence solutions market based on based on component, therapeutic area and end user and region.
Breakup by Component:
• Clinical Settings Data
• Claims Data
• Patient-Powered Data
• Pharmacy Data
• Others
Breakup by Therapeutic Area:
• Oncology
• Immunology
• Neurology
• Cardiovascular Disease
• Others
Breakup by End User:
• Pharmaceutical and Medical Device Companies
• Healthcare Payers
• Healthcare Providers
• Others
Breakup by Region:
• North America
o United States
o Canada
• Asia-Pacific
o China
o Japan
o India
o South Korea
o Australia
o Indonesia
o Others
• Europe
o Germany
o France
o United Kingdom
o Italy
o Spain
o Russia
o Others
• Latin America
o Brazil
o Mexico
o Others
• Middle East and Africa
The report provides a comprehensive analysis of the industry key players listed below:
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.
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About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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