Global Real World Evidence Solutions Market
Dublin, July 29, 2022 (GLOBE NEWSWIRE) -- The "Global Real World Evidence Solutions Market Size, Share & Trends Analysis Report by Component (Services, Data Sets), by Application, by End-user, by Region, and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.
The global real world evidence solutions market size is expected to reach USD 78.80 billion by 2030. The market is expected to expand at a CAGR of 8.1% from 2022 to 2030. The key factors driving the real world evidence (RWE) solutions market include favorable government regulations and a shift from volume to value-based care. Furthermore, the increasing prevalence of chronic disorders is anticipated to positively influence market growth.
According to PerkinElmer, real world evidence solutions offer around USD 300 to 500 Billion in top-down opportunity for the U.S. healthcare industry alone. In addition, many life science companies are witnessing ad hoc value from selected RWE case studies and demonstrating around USD 100 million of bottom-up impact. Therefore, if a company captures USD 1 billion in real world evidence value, it ultimately creates more than USD tens of billions in terms of healthcare improvements. This is anticipated to boost the market growth.
The adoption and usage of RWE solutions are higher in developed markets of North America and Europe owing to supportive initiatives by legal, government, and other regulatory bodies. For instance, in October 2021, FDA selected Aetion Evidence Platform to use RWE to analyze COVID-19 interventions and further regulatory science and innovation. Initiatives by regulatory agencies are supporting the expansion of RWE from post-market safety monitoring to other applications, such as for clinical trial design and observational studies and to substantiate coverage decisions.
Real World Evidence Solutions Market Report Highlights
Favorable government initiatives and a shift from volume to value-based care are expected to boost the market growth.
The services component segment led the market in 2021 owing to its increasing demand over the forecast period.
The drug development and approvals application segment dominated the market in 2021 owing to the rising adoption of RWE solutions in pharmaceutical companies for this application.
The healthcare payers end-user segment is anticipated to expand at the fastest CAGR over the forecast period owing to the increasing awareness among payers regarding drug and medical device safety.
North America led the global market in 2021 with a revenue share of more than 40.0% owing to the presence of major players in the region.
Asia Pacific is expected to be the fastest-growing regional market from 2022 to 2030 owing to the presence of contract research organizations in the region.
The market is a fairly competitive market. For instance, in April 2021, Thermo Fisher Scientific announced that it is set to acquire PPD, Inc. for USD 47.50 per share.
Key Topics Covered:
Chapter 1 Research Methodology & Scope
Chapter 2 Executive Summary
Chapter 3 Real world evidence (RWE) Solutions Market Variables, Trends & Scope
Chapter 4 Impact of COVID-19 on Real world evidence (RWE) Solutions Market
Chapter 5 Real world evidence (RWE) Solutions Market: Component Estimates and Forecasts to 2030
Chapter 6 Real world evidence (RWE) Solutions Market: Application Estimates and Forecasts to 2030
Chapter 7 Real world evidence (RWE) Solutions Market: End-User Estimates and Forecasts to 2030
Chapter 8 Real world evidence (RWE) Solutions Market: Regional Estimates & Trend Analysis, By Component, Application, End-User
Chapter 9 Real world evidence (RWE) Solutions Market: Competitive Analysis
Chapter 10 Company Profiles
Parexel International Corporation
Cegedim Health Data
For more information about this report visit https://www.researchandmarkets.com/r/lko48h
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