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Global Real World Evidence Solutions Market was estimated to be US$ 692.04 Mn in 2019, growing at a CAGR of 18.4% over the Forecast Period, Owing to Increasing Adoption of Data in Healthcare Sector, says Absolute Markets Insights

Published On 13 Jan 2021 01:00 PM


The healthcare sector has been observed to be a notable adopter of data and technological tools over the years. Key reasons for the adoption are seen to be the need for innovative healthcare solutions along with the growing prevalence of diseases; some new while some old across various countries. Technological tools have been helpful to the industry in areas ranging from diagnostics, treatment, and operative procedures to business operations in the healthcare facilities. Real world evidence data has been a newer addition to the data adoption trend in the healthcare sector.

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Companies in the curative healthcare field and in the supportive operations for healthcare facilities have been utilizing real world evidence solutions for understanding the trends of patients and healthcare institutions in their operating regions. These analyses are expected to be the base for the development of newer medications and medical procedures which would help in the care provision and possibly the prevention of certain disorders on the global scale. The importance of clinical trials in the development stage for medications has been a key factor influencing the adoption of real world evidence solutions along with other tools. The collective adoption of these solutions is expected to help in the growing the quality of care provided to patients on the global scale.

The detailed research study provides qualitative and quantitative analysis of real world evidence solutions market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.

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Key Findings of the Report:

  • In terms of the regions wherein real world evidence solutions are utilized, life sciences, healthcare and medical technology are the notable areas. The adoption of real world evidence has been on the rise owing to the changing trends with respect to the operations of various organizations in the aforementioned areas. Healthcare organizations are a key component in the sector owing to the position they have as the generator and user of real world evidence data. Patient and hospital data are particularly seen to be developed through devices and systems set up across healthcare institutions. This data can be utilized in the creation real world evidence data bases or can be used internally from organizations. In addition to this, real world evidence solutions from market participants help healthcare organizations to understand their data in order to improve their operations and lead towards the development of better treatment plans for patients. Furthermore, the life sciences sector is expected to become the major revenue provider for the market. The wide range of applications with respect to real world evidence solutions for organizations in the life sciences industries is expected to be responsible for the growing rate of adoption for Real World Evidence Solutions Market offerings. These factors are expected to influence the growth rate for the market over the near future.
  • The demand for innovative healthcare solutions has grown across the various stakeholders in the sector. Hospitals, research centers and life sciences companies have been focusing towards investing in the development of enhanced analytical capabilities through the use of healthcare data. In addition to this, strategic importance of medical data has grown over the years making various valuable contributions to medical research. This has led to a steady increase related to the adoption of real world evidence in the healthcare organizations. Life sciences and pharmaceutical companies are seen to be the major revenue contributors for the Real World Evidence Solutions Market owing to the initiatives of these organizations related to development of various medications and treatment solutions encompassing a wide range in the healthcare spectrum. Furthermore, the adoption of real world evidence solutions is expected to grow among research centers. This is primarily expected to happen owing to growing initiatives for studying the prevalence and causes of numerous disorders across numerous countries.
  • In terms of the various regions around the world, North America is observed to account for the greatest revenue share in the global real world evidence solutions market in the recent year. The higher revenue contribution through the countries from the region has been observed to due to growing prevalence of research initiatives in the healthcare sector around the region. Also, the widening of product and service portfolio from market participants is expected to aid the growth in revenue for the market. The countries from the region of Asia Pacific are expected to help in creating the fastest growth in terms of revenue over the forecast period for the global Real World Evidence Solutions Market. Increasing ventures from healthcare organizations in the region related to development of medical solutions and clinical trials in conjunction with a rise in awareness related to the offerings in the market among the end users.
  • Some of the players operating in the real world evidence solutions market are Clinerion Ltd, CORRONA, LLC., IBM Corporation, ICON plc, Infiniti Research Ltd (Quantzig), IQVIA, Optum, Inc., Oracle, Parexel International Corporation, PerkinElmer Inc., PPD (Evidera), Sciformix, Syneos Health, Trinity, and Trio Health Advisory Group, Inc., amongst others.

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Real World Evidence Solutions Market:

  • By Component
    • Solutions
      • Commercialization
      • Consulting
      • Clinical Development
      • Others
    • Services
  • By Area
    • Life Sciences
    • Healthcare
    • Medical Technology
  • By Application
    • Epidemiology
    • Drug Safety
    • Market Access
    • Brand Performance
    • Personalized Medicine
    • Data Sets
      • Registries      
      • Centers for Medicare and Medicaid Services Data
      • National Death Index Data
      • Electronic Medical Records (EMR) and Claims
      • Others
    • Hybrid Study Designs
    • Integrated Evidence Generation Planning
    • Trial Augmentation
    • Data Science Applications
    • Patient Landscapes and Brand Performance
    • Others
  • By Diseases
    • Oncology
    • Immunology
    • Cardiovascular
    • Infectious Diseases
    • Respiratory
    • Women’s Health
    • Neurology
    • Cross-Functional Solutions
      • Biosimilars
      • Cell and Gene Therapy
      • Paediatrics
      • Rare Diseases
      • Others
    • Others
  • By End Users
    • Payers
    • Providers
      • Hospitals
      • Clinics
      • Others
    • Medical Research Centers
    • Life Sciences and Pharmaceutical Companies
    • Others
  • By Geography
  • North America
    • U.S.
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Nordic Countries
      • Denmark
      • Finland
      • Iceland
      • Sweden
      • Norway
    • Benelux Union
      • Belgium
      • The Netherlands
      • Luxembourg
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • New Zealand
    • Australia
    • South Korea
    • Southeast Asia
      • Indonesia
      • Thailand
      • Malaysia
      • Singapore
      • Rest of Southeast Asia
    • Rest of Asia Pacific
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • Kuwait
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

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Press Release Provided By: Absolute Markets Insights