As per SNS Insider’s research, the growth of the real world evidence/RWE solutions market is driven by the increasing need for data-driven healthcare decision-making, advancements in data analytics, regulatory support, and the evolving healthcare landscape.

The SNS Insider report estimated that the real world evidence/RWE solutions market reached USD 43.22 billion in 2022 and anticipates a growth rate of 7.8% from 2023 to 2030, ultimately reaching USD 78.83 billion by 2030.

Market Report Scope

Real-world evidence (RWE) solutions refer to a set of methods and tools used in healthcare and other industries to gather, analyze, and derive valuable insights from data collected in real-world settings. Unlike data collected in controlled clinical trials, real-world evidence is generated from sources like electronic health records (EHRs), claims data, patient registries, wearables, and other healthcare databases. RWE solutions enable stakeholders, including healthcare providers, pharmaceutical companies, and policymakers, to make more informed decisions. They can assess the effectiveness, safety, and economic impact of treatments, interventions, and healthcare policies in real-world patient populations.

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Market Analysis

The real world evidence/RWE solutions market is experiencing significant growth due to various factors that are shaping the healthcare industry. The escalating costs of healthcare are putting pressure on healthcare providers, payers, and regulators to optimize treatment outcomes and reduce expenses. RWE solutions offer a cost-effective way to evaluate the real-world performance of treatments and interventions, helping healthcare stakeholders make informed decisions. The shift towards value-based healthcare models requires healthcare organizations to demonstrate the value and effectiveness of their treatments and interventions. RWE helps in assessing treatment outcomes and ensuring that healthcare resources are allocated efficiently. Pharmaceutical companies are increasingly using RWE to support drug development and gain regulatory approvals. Additionally, RWE is essential for post-market surveillance, enabling the continuous monitoring of drug safety and efficacy.

Major Players Listed in the Report are as Follows:

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

Real World Evidence/RWE Solutions Market Segmentation as Follows:

By Component Type

  • Services
  • Pharmacy data
  • Clinical setting data
  • Data Sets
  • Claims data
  • Patient powered data

By Therapeutic area Type

  • Cardiovascular
  • Oncology
  • Immunology
  • Neurology
  • Others

By End Users

  • Healthcare Providers
  • Pharmaceutical and Medical Devices Companies
  • Healthcare Payers

Impact of Recession

The impact of a recession on the real world evidence/RWE solutions market is complex and depends on various factors. While budget constraints and shifting priorities can pose challenges, the demand for cost-effective, evidence-based decision-making in healthcare remains a constant. RWE solutions providers that adapt to changing market dynamics, offer innovative cost-effective solutions, and focus on emerging trends such as telemedicine may find opportunities for growth even during economic downturns.

Impact of Russia-Ukraine War

The Russia-Ukraine war has brought challenges and opportunities to the real world evidence/RWE solutions market. While disruptions and uncertainties have posed obstacles, the increased recognition of the importance of RWE and the potential for market expansion through diversification of data sources and international collaboration may shape the future of this industry. Adaptation and resilience will be key for RWE solution providers to navigate the evolving landscape effectively.

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Key Regional Development

North America, particularly the United States, is a dominant player in the real world evidence/RWE solutions market. The region has a well-established healthcare infrastructure, a large patient population, and stringent regulatory requirements. Europe has a diverse healthcare landscape with varying degrees of RWE adoption across countries. The European Medicines Agency (EMA) and individual national health agencies increasingly require RWE to support drug approvals and reimbursement decisions. The Asia-Pacific region is witnessing rapid growth in the market. Factors such as a rising burden of chronic diseases, an expanding middle-class population, and government initiatives to improve healthcare access are driving this growth.

Key Takeaway from Real World Evidence/RWE Solutions Market Study

In the ever-evolving landscape of healthcare, the pharmacy data segment is poised to assert its dominance in the market. The segment’s dominance is bolstered by advancements in technology and data analytics. Innovative platforms and tools enable the integration and analysis of diverse datasets, providing a holistic view of a patient’s healthcare journey.

The cardiovascular segment is poised to assert its dominance in the market, emerging as a pivotal player in reshaping the landscape of evidence-based healthcare. This segment’s ascendancy is underpinned by a multitude of factors, including the pervasive nature of cardiovascular diseases (CVDs), technological advancements, and the growing importance of patient-centric insights.

Recent Developments Related to Real World Evidence/RWE Solutions Market

In an era where healthcare innovation takes center stage, Inspire is pioneering a transformative approach to healthcare research and decision-making with the launch of their groundbreaking Patient-Centered Real-World Evidence (PC-RWE) initiative.

Flatiron Health, a leading player in the field of oncology data and research, has taken a significant leap forward by expanding its offerings beyond real-world data. The data-driven approach facilitates smoother interactions with regulatory agencies, potentially expediting approvals and market access for innovative therapies.

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Table of Content

Chapter 1 Introduction 

Chapter 2 Research Methodology

Chapter 3 Real World Evidence/RWE Solutions Market Dynamics

Chapter 4 Impact Analysis (COVID-19, Ukraine- Russia war, Ongoing Recession on Major Economies)

Chapter 5 Value Chain Analysis

Chapter 6 Porter’s 5 forces model

Chapter 7 PEST Analysis

Chapter 8 Real World Evidence/RWE Solutions Market Segmentation, By Component Type

Chapter 9 Real World Evidence/RWE Solutions Market Segmentation, By Therapeutic area Type

Chapter 10 Real World Evidence/RWE Solutions Market Segmentation, By End Users

Chapter 11 Regional Analysis

Chapter 12 Company profile

Chapter 13 Competitive Landscape

Chapter 14 Use Case and Best Practices

Chapter 15 Conclusion

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