Real-world evidence is the clinical evidence regarding the usage and potential benefits or risks of a medical product derived from the analysis of real-world data. Real-world data (RWD) is defined as data derived from a number of sources that are associated with outcomes in a heterogeneous patient population in real-world settings.

Market Size

The global Real World Evidence Solutions Market is projected to reach USD 1,348.1 million by 2023 from USD 689.9 million in 2018, at a CAGR of 14.3% during the forecast period. 

The growth of this market is majorly driven by the rising geriatric population (and the subsequent increase in the prevalence of chronic diseases), shift from volume- to value-based care, and delays in drug development (and the subsequent increase in development costs). The base year considered for the study is 2017 and the forecast period includes 2018 to 2023.

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“By component, the data sets segment accounted for the largest share of the real world evidence market in 2017.”

On the basis of component, the data sets segment accounted for the largest share of the global real world evidence market. The large share can be attributed to factors such as easy availability of massive amounts of data, increasing dependence of outcome-based studies on real-world data, and rising demand for information by payers and providers regarding drug safety.

“By therapeutic area, the oncology segment held the largest market share of the real world evidence market in 2017.”

Based on therapeutic area, the oncology segment accounted for the largest share of the real-world evidence market in 2017. The large share of this segment can be attributed to the high number of clinical trials conducted for oncology and the rising prevalence of cancer worldwide.

 Recent Developments

• In July 2017, ICON (Ireland) acquired Mapi Group (France), a patient-centered health outcomes research and commercialization company. 
• In October 2016, Quintiles Transnational Holdings (US) merged with IMS Health (US) to form IQVIA. 

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The Real World Evidence Solutions market  is valued at 612.0 million in 2017 and projected to reach USD 1,348.1 million by 2023, at a CAGR of 14.3%.

The growth of this market is majorly driven by the rising geriatric population (and the subsequent increase in the prevalence of chronic diseases), shift from volume- to value-based care, and delays in drug development (and the subsequent increase in development costs).

The data sets segment accounted for the largest share of the global real world evidence market. The large share can be attributed to factors such as easy availability of massive amounts of data, increasing dependence of outcome-based studies on real-world data, and rising demand for information by payers and providers regarding drug safety.

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The oncology segment accounted for the largest share of the real-world evidence market in 2017. The large share of this segment can be attributed to the high number of clinical trials conducted for oncology and the rising prevalence of cancer worldwide.

North America accounted for the largest share of the real world evidence market in 2017, followed by Europe and Asia Pacific. Presence of a favorable regulatory environment, high number of RWE service providers, the presence of a well-established pharmaceutical industry in the region, coupled with the high R&D expenditure, are the major factors responsible for the large share of North America in the global real world evidence market.

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The prominent players in the global real world evidence market are IQVIA (US), ICON (Ireland), PAREXEL (US), Pharmaceutical Product Development (US), and Optum (US) held the major share of the real world evidence market and will continue to dominate the market between 2018 and 2023. Other major players operating in this market include International Business Machines Corporation (US), Cognizant (US), Oracle (US), SAS (US), Syneos Health (US), Anthem (US), Clinigen Group (UK), Palantir Technologies (UK), and Flatiron Health (US).

According to the new market research “Real World Evidence Solutions Market  by Component (Dataset (Claims, Clinical, Pharmacy, Patient), Services), Therapeutic Area (Oncology, Cardiovascular, Immunology), End User (Pharmaceuticals, Medical Devices, Payers, Providers) - Global Forecast to 2023", analyzes and studies the major market drivers, restraints/challenges, and opportunities. The global real-world evidence market is valued at 612.0 million in 2017 and projected to reach USD 1,348.1 million by 2023, at a CAGR of 14.3%. 

The global Real World Evidence Solutions market is segmented based on component, therapeutic area, end user and regions

On the basis of component, the data sets segment accounted for the largest share of the global real world evidence market. The large share can be attributed to factors such as easy availability of massive amounts of data, increasing dependence of outcome-based studies on real-world data, and rising demand for information by payers and providers regarding drug safety.

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Browse and in-depth TOC on in “Real World Evidence Solutions Market " 
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Based on therapeutic area, the oncology segment accounted for the largest share of the real-world evidence market in 2017. The large share of this segment can be attributed to the high number of clinical trials conducted for oncology and the rising prevalence of cancer worldwide.

Based on end user, the pharmaceutical & medical device companies segment accounted for the largest share of the real world evidence market. The large share of this segment can be attributed to the increasing importance of RWE studies in drug approvals, the need to prevent costly drug recalls, and the increasing need to assess drug performance in real-world settings.

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North America accounted for the largest share of the real world evidence market in 2017, followed by Europe and Asia Pacific. Presence of a favorable regulatory environment, high number of RWE service providers, the presence of a well-established pharmaceutical industry in the region, coupled with the high R&D expenditure, are the major factors responsible for the large share of North America in the global real world evidence market.

Market Players

The key players in the Real World Evidence Solutions market are  IQVIA (US), ICON (Ireland), PAREXEL (US), Pharmaceutical Product Development (US), Optum (US), International Business Machines Corporation (US), Cognizant (US), Oracle (US), SAS (US), Syneos Health (US), Anthem (US), Clinigen Group (UK), Palantir Technologies (UK), and Flatiron Health (US).

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The growth of this market is majorly driven by the rising geriatric population (and the subsequent increase in the prevalence of chronic diseases), shift from volume- to value-based care, and delays in drug development (and the subsequent increase in development costs).

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The Real World Evidence Solutions market  is valued at 612.0 million in 2017 and projected to reach USD 1,348.1 million by 2023, at a CAGR of 14.3%.

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+ Market Dynamics 

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+ Drivers

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+ Rising Geriatric Population and the Subsequent Increase in the Prevalence of Chronic Diseases
+ Shift From Volume- to Value-Based Care
+ Delays in Drug Development and the Subsequent Increase in Development Costs

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Download PDF Brochure @
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=76173991

<!-- /wp:paragraph --> <!-- wp:paragraph -->

The data sets segment accounted for the largest share of the global real world evidence market. The large share can be attributed to factors such as easy availability of massive amounts of data, increasing dependence of outcome-based studies on real-world data, and rising demand for information by payers and providers regarding drug safety.

<!-- /wp:paragraph --> <!-- wp:paragraph -->

The oncology segment accounted for the largest share of the real-world evidence market in 2017. The large share of this segment can be attributed to the high number of clinical trials conducted for oncology and the rising prevalence of cancer worldwide.

View complete press release:-
https://www.marketsandmarkets.com/PressReleases/real-world-evidence-solution.asp

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