The global real world evidence solutions market size was US$ 1.1 billion in 2021. The global real world evidence solutions market is forecast to grow to US$ 3.1 billion by 2030 by growing at a compound annual growth rate (CAGR) of 13.3% during the forecast period from 2022 to 2030.
Real world evidence (RWE) is being carried out from real world facts on the use of a pharmaceutical drug. The information is derived during routine clinical practice.
Factors Influencing the Market
COVID-19 Impact Analysis
COVID-19 pandemic created various uncertainties in daily lives. However, RWE became one of the most influential emerging technology to combat the health risk associated with the COVID-19 outbreak. With the use of RWE, healthcare professionals can get valuable insights to better understand the COVID-19 pandemic. The utilization of RWE increased abruptly, which has been beneficial for the overall market. In addition, government organizations also began investing in R&D activities. As a result, it boosted the growth of the global real world evidence solutions market.
Regional Analysis
North America is forecast to dominate the real-world evidence solutions market in terms of revenue. It is owing to the favourable regulatory environment and growing adoption of RWE in the region.
Moreover, Asia Pacific is forecast to hold a significant share due to the presence of various Contract Research Organizations (CROs) and manufacturing firms in emerging nations like China and India.
Rising healthcare expenditure and investments will also contribute to the growth of this market during the forecast period.
Competitors in the Market
Market Segmentation
The global real world evidence solutions market segmentation focuses on Components, Therapeutic Area, End-User, and Region.
By Component
By Therapeutic Areas
By End-User
By Region