openPR Logo
Press release

IQVIA HOLDINGS INC. (US) and Merative (US) are Leading Players in the Real World Evidence Solutions Market

04-18-2024 12:36 PM CET | Health & Medicine

Press release from: MarketsandMarkets

Real World Evidence Solutions Market

Real World Evidence Solutions Market

Real World Evidence Solutions Market in terms of revenue was estimated to be worth $2.0 billion in 2024 and is poised to reach $4.5 billion by 2029, growing at a CAGR of 16.5% from 2024 to 2029 according to a new report by MarketsandMarkets™. The growth in the Real-World Evidence Solution market is driven by the increased shift towards a value-based and upsurging aging population. Additionally, the increase in the prevalence of chronic diseases, and rising innovation in pharmaceutical and medical devices are propelling the adoption of RWE solutions and driving the market growth. Moreover, several companies are prioritizing the use of RWE solutions to help them to reduce their drug development delays. Thus, the increase in availability of healthcare data, coupled with growing need to provide high-quality care to patients, will progressively compel healthcare organizations to depend on these innovative methodologies and technologies leading to boost the market growth for the real-world evidence-based solution market during the forecast period.

Download an Illustrative overview:

Services accounted for the larger share of the Real-World Evidence Solution market in 2023.

On the basis component, the Real-World Evidence Solution market is segmented into services and data sets. The services accounted for the larger share of this segment in 2023. The service segment comprises of advanced analytics services and consulting services. Advanced analytical services play a crucial role in swiftly accessing, examining, and providing essential insights required by various stakeholders. The provision of cutting-edge analytical tools and technologies has allowed these services to harness the power of big data, enabling more accurate and insightful analysis of real-world patient data. This advanced analytics capability is crucial in extracting meaningful patterns and insights from diverse and vast datasets, providing a competitive edge in understanding real-world patient outcomes, treatment effectiveness, and safety profiles. Moreover, the inclusion of consulting services has allowed services segment to offer comprehensive solutions to its clients by providing expert guidance and strategic insights, the company can assist healthcare organizations in navigating the complex landscape of real-world evidence. Additionally, the growing need to transform healthcare data into actionable evidence, coupled with the aim to minimize delays in drug development and the abundance of extensive healthcare data, stands out as significant drivers propelling the expansion of this market segment.

By application, the drug development and approvals segment accounted for the largest market share in 2023.

Based on application, the Real-World Evidence Solution market is segmented into drug development and approvals, medical device development and approvals, post market surveillance, market access and reimbursement/coverage decision making, and Clinical & regulatory decision making. The drug development and approvals is bifurcated into oncology, cardiovascular disorders, neurology, immunology, and other therapeutic areas. The oncology subsegment holds the largest share of this segment in 2023. This is attributed to the increasing number of cancer cases worldwide. Due to increasing number of cancer cases several pharmaceutical companies are investing in innovative medicines for treatment of cancer. Fr instance, according to IQVIA Holdings Inc., global oncology trends article 2022, over the past decade, there has been a substantial increase in the development of products in the field of oncology, and currently, there are over 2,000 products in the pipeline.

Pharmaceutical and medical device companies are the largest end users of the Real-World Evidence Solution market

Based on end users, the Real-World Evidence Solution market is segmented into pharmaceutical and medical devices companies, healthcare payers, healthcare providers, and other end-users which includes CROs, academic institutions, patient advocacy groups, and HTA agencies. The pharmaceutical and medical device companies hold the largest share among the end-users in 2023 as these companies need data that is medically approved. As the utilization of Real-World Evidence (RWE) data plays a crucial role in facilitating the successful progression of innovative medicines through the various phases of clinical trials. Furthermore, the increasing prevalence of RWE studies employed in the drug approval process serves as a preventive measure against expensive drug recalls. These studies offer valuable analyses of how drugs perform in real-world settings, enhancing the understanding of the effectiveness and safety beyond the controlled environments of clinical trials.

North America dominates the global Real-World Evidence Solution market.

The Real-World Evidence Solution market is segmented into five major regional segments, namely, North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. In 2023, North America accounted for the largest share of the Real-World Evidence Solution market. This region's dominance is due to the favorable regulatory environment and increasing adoption of EHR. Additionally, the increase in number of payers using RWE solution services is driving regional growth of the RWE evidence solution market. Moreover, the presence of key market players such as IQVIA Holdings Inc., (US), Optum (US), Oracle (US), and among others are a key factor contributing to the growth of the region.

Request Sample Pages:

Key Market Players of Real World Evidence Solutions Industry:

Prominent players in the Real-World Evidence Solution market include Iqvia Holdings Inc. (US), Merative(US), Optum Inc. (US), Icon Plc. (Ireland), Syneos Health (US), Parexel International Corporation (US), Thermo Fisher Scientific Inc. (US), Laboratory Corporation of America Holdings (US), Oracle (US), Medspace Holdings Inc. (US), Elevance Health, INC. (US), SAS Institute Inc. (US), Aetion Inc. (US), Trinetx Llc. (US), Trinity (US), PerkinElmer, Inc. (US), Cognizant Technology Solutions Corporation (US), Clinigen Group plc (UK), Cegedim Health Data (France), Verantos (US), HealthVerity, Inc. (US), Datavant (US), Syapse, Inc. (US), Tempus (US), and Flatiron Health (US).

Breakdown of supply-side primary interviews, by company type, designation, and region:

By Company Type: Tier 1 (40%), Tier 2 (35%), and Tier 3 (25%)
By Designation: C-level (35%), Director-level (45%), and Others (20%)
By Region: North America (55%), Europe (20%), Asia Pacific (15%), Latin America (5%) and Middle East Africa (5%)
Recent Developments of Real World Evidence Solutions Industry:

In August 2023, Parexel (US) announced a strategic collaboration with Partex NV (Germany) to leverage artificial intelligence powered solutions and accelerate drug discovery and development for biopharmaceutical customers worldwide. This collaboration aims to improve outcomes for patients and create an environment of continues innovation in leveraging advanced technology, data-driven insights and collaborative ecosystem.
In June 2022, Franscisco Partners (US) acquired IBM Watson Health Business (US) and formed a new standalone company named Merative. This acquisition will help Merative in expanding reach of the healthcare data analytics products and improving healthcare delivery, decision making and performance.
In February 2022, Parexel International Corporation (US) partnered with n-Lorem Foundation (US) to improve and streamline the therapeutic development efforts of n- Lorem. This partnership will help the Parexel International Corporation in providing clinical operations, real-world data solutions, and expertise, including medical and regulatory.

Get 10% Free Customization on this Report:

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Research Insights:
Visit Our Website:
Content Source:

About MarketsandMarkets™:

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

This release was published on openPR.

Permanent link to this press release:

Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release IQVIA HOLDINGS INC. (US) and Merative (US) are Leading Players in the Real World Evidence Solutions Market here

News-ID: 3468591 • Views:

More Releases from MarketsandMarkets

Space-Based Solar Power Market Expected to reach $6.8 billion by 2040
Space-Based Solar Power Market Expected to reach $6.8 billion by 2040
The Space-Based Solar Power market is estimated to grow to USD 6.8 billion by 2040, from USD 4.7 billion in 2030, at a CAGR of 3.3% from 2030 to 2040. Asia Pacific is estimated to account for the largest share of the Space-Based Solar Power market in 2030. The space-based solar power market, market encompasses a range of activities, including research and development, satellite design and manufacturing, launch services, and
Virtual Reality Market Set to Grow at the Fastest Rate- Time to Grow your Revenue
Virtual Reality Market Set to Grow at the Fastest Rate- Time to Grow your Revenu …
The global virtual reality market was valued at USD 15.9 billion in 2024 and is projected to reach USD 38.0 billion by 2029; it is expected to register a CAGR of 19.1% during the forecast period. The growing penetration of the Metaverse, rapid adoption of digital technologies in healthcare and gaming & entertainment sectors, and increased investments in virtual reality market are attributed to the ever-increasing demand virtual reality devices. Download
With 12.5% CAGR, Electronic Skin Patch Market Growth to Surpass USD 27.0 billion
With 12.5% CAGR, Electronic Skin Patch Market Growth to Surpass USD 27.0 billion
The Electronic Skin Patch market is projected to grow from USD 15.0 billion in 2024 and is projected to reach USD 27.0 billion by 2029; it is expected to grow at a CAGR of 12.5% from 2024 to 2029. The growth of the Electronic Skin Patch market is driven by growing geriatric population; surging demand for remote health monitoring solutions; and advancement in flexible electronics, sensors and wireless technologies. Download PDF

More Releases for Real

Nine Way Real Estate enters Dubai real estate market
Dubai’s real estate sector has just reached in June 2021 a record of sale transactions, the highest in value in eight years*, proof of the vitality and attractiveness of the property market in the Emirate. Is this post-lockdown vitality of the real estate industry the sign Monica Garcia Ricardo, an accomplished and award-winning agent, was waiting for to open Nine Way Real Estate, a boutique size brokerage, built on
Worldwide Real Estate Market Growing Steadily | Sotheby's International Realty, …
The recent research report on the global Real Estate market presents the latest industry data and future trends, allowing you to recognize the products and end users driving Revenue growth and profitability of the market. The report offers an extensive analysis of key drivers, leading market players, key segments, and regions. Besides this, the experts have deeply studied different geographical areas and presented a competitive scenario to assist new entrants, leading
Boxers are in incredible shape. They have toned abs, slender muscles, and great definition. The question is – how do you get that great body without competing in fights? South Beach Boxing knows that “You Don’t Need To Be a Boxer To Train Like One!” Founder and Owner, Jolie Glassman, has taken the same exercises and actual training that REAL PRO boxers use to get lean and toned and made them
How Real Estate Apps can Drive Your Real Estate Business
In an industry going through a technological revolution, 6 Benefits of real estate apps development for realtors company can help you cope with changes and gain a significant advantage over your competitors. Get a Free Personalized Demo @ Mobile phone technology has brought about monumental changes that are revolutionizing how we do business. The benefits of these technologies are endless, and unsurprisingly, our dependence on them increases day by day. For
Real Time Bookkeeping Changes to Cloud9 Real Time
SAN DIEGO, CA - Real Time Bookkeeping (RTB) is a licensed Commercial Host by Intuit and an accredited Managed Service Provider by MSP Alliance. The industry changer is revealing just how far they have come in a recent move to the name Cloud9 Real Time. “Our organization is excited about the change. We have grown over 500% in just under 18 months and the name change is part of the
Real Estate is a Real Time Business
SAN FRANCISCO, Mar 17, 2010 - soft-launched this month the first version of its real time search and marketing service for Real Estate professionals . Although real-time search engines have proliferated over the last few months, this is the first offering of this kind available for the Real Estate industry. Real time search is a new kind of service which lets individuals and businesses know what is happening around