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Report Overview

The global real world evidence solutions market size reached approximately USD 2.00 Billion in 2024. The market is projected to grow at a CAGR of 12.60% between 2025 and 2034, reaching a value of around USD 6.55 Billion by 2034.

2024

Base Year

2018-2024

Historical Period

2025-2034

Forecast Period

Compound Annual Growth Rate

12.6%

Value in USD Billion

2025-2034


Real World Evidence Solutions Market Outlook

*this image is indicative*

Key Trends in the Market

Real world evidence (RWE) solutions refer to methods, approaches, and technologies used to gather and analyse data from real world sources outside of traditional clinical trials. These solutions aim to generate insights and evidence regarding the safety, effectiveness, and value of medical products and interventions in real world settings.

Global Real World Evidence Solutions Market

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  • The real world evidence solutions market demand is being aided by the surging use of such solutions in clinical applications. Real world evidence complements traditional clinical trial data as it reflects the use and impact of healthcare interventions in diverse patient populations, real world clinical practices, and everyday settings.
  • Regulatory agencies, such as the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA), have shown an increased willingness to incorporate real world evidence into regulatory decision-making. They have issued guidance and frameworks to encourage the use of RWE in drug approvals, label expansions, and post-marketing surveillance.
  • One of the major trends driving the real world evidence solutions market is the availability of advanced analytics techniques, including machine learning, artificial intelligence, and natural language processing, among others. The adoption of these technologies and techniques has enhanced the ability to extract meaningful insights from complex real world datasets. These analytical tools also help identify patterns, trends, and correlations in the data, enabling more accurate and actionable real world evidence.

Market Segmentation

Real World Evidence Solutions Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:

Market Breakup by Component

  • Consulting Services
  • Data Sets

Market Breakup by Application

  • Drug Development and Approvals
  • Medical Device Development and Approvals
  • Reimbursement/Coverage and Regulatory Decision Making
  • Post Market Safety and Adverse Events Monitoring

Market Breakup by End User

  • Healthcare Providers
  • Healthcare Payers
  • Pharmaceutical and Medical Device Companies
  • Others

Market Breakup by Region

  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others

Global Real World Evidence Solutions Market

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CAGR 2025-2034 - Market by Country
India 15.9%
Canada 15.6%
USA 13.5%
China 13.3%
Australia 10.3%
Japan 9.0%
UK XX%
Germany XX%
France XX%
Italy XX%
Saudi Arabia XX%
Brazil XX%
Mexico XX%

Market Share by Application

The utilisation of RWE solutions in drug development and approvals is expected to significantly increase in the projected period. These solutions offer pharmaceutical companies and healthcare providers and payers efficient operational management capabilities, thereby expediting the drug development and approval process.

Market Share by End User

Healthcare companies are expected to account for the majority of the real world evidence solutions market share. This is primarily attributed to the increasing significance of real world evidence (RWE) studies in the drug approval process, evaluation of drug performance in real world settings, and mitigation of the risk of drug recalls.

Real world evidence plays a crucial role in several important processes. It aids in identifying the specific patient cohorts that can derive the most benefit from a particular intervention or treatment. By analysing real world data, healthcare companies can understand how interventions perform in diverse patient populations, helping them tailor therapies to maximise efficacy.

Competitive Landscape

The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global real world evidence solutions market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments and expansion plans.

Iqvia Holdings Inc.

Iqvia Holdings Inc. is a multinational company that provides information, technology, and services to the healthcare industry. Formerly known as Quintiles IMS Holdings, the company changed its name to Iqvia in November 2017. The services offered by the company include clinical research services, real world data analytics, commercial solutions, and technology platforms.

Thermo Fisher Scientific Inc.

Thermo Fisher Scientific Inc. is one of the largest companies in the scientific research and laboratory equipment sector. It is an American corporation that offers a wide range of scientific research services, laboratory equipment, reagents, consumables, software, and related services. It was established in 2006 as a result of the merger between Thermo Electron Corporation and Fisher Scientific International Inc. The company's headquarters are presently located in Massachusetts, the United States.

Parexel International Corporation

Parexel International Corporation is a leading global clinical research organisation (CRO) that provides a wide range of services to the biopharmaceutical and medical device sector. The company was founded in 1982 and is headquartered in North Carolina, the United States. Parexel offers services throughout the drug development lifecycle, from early-phase clinical trials to post-approval studies.

*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*

Other market players include PerkinElmer Inc, ICON plc, Syneos Health, Medpace Holdings, Inc, Flatiron Health, Inc., SAS Institute Inc., and Cardinal Health, Inc among others.

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

In 2024, the market reached a value of around USD 2.00 Billion.

The market is projected to grow at a CAGR of 12.60% between 2025 and 2034.

The market is estimated to witness a healthy growth in the forecast period of 2025-2034 to reach around USD 6.55 Billion by 2034.

The market is being driven by the increasing demand for real world evidence solutions from the healthcare sector and the rising implementation of RSE solutions to gain insights from big data sets.

The major trends propelling the market growth include the implementation of real world evidence in regulatory decision-making and the utilisation of advanced technologies such as artificial intelligence and machine learning.

The major regional market includes North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The major end users of real world evidence are healthcare providers, healthcare payers, and pharmaceutical and medical device companies, among others.

The key players in the real world evidence solutions market include Iqvia Holdings Inc., Thermo Fisher Scientific Inc., Parexel International Corporation, PerkinElmer Inc, ICON plc, Syneos Health, Medpace Holdings, Inc, Flatiron Health, Inc., SAS Institute Inc., and Cardinal Health, Inc., among others.

Report Summary

Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.

Key Highlights of the Report

Please note that the figures mentioned in the description serve as estimates and may vary from the actual figures presented in the final report.

REPORT FEATURES DETAILS
Base Year 2024
Historical Period 2018-2024
Forecast Period 2025-2034
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Component
  • Application
  • End User
  • Region
Breakup by Component
  • Consulting Services
  • Data Sets
Breakup by Application
  • Drug Development and Approvals
  • Medical Device Development and Approvals
  • Reimbursement/Coverage and Regulatory Decision Making
  • Post Market Safety and Adverse Events Monitoring
Breakup by End User
  • Healthcare Providers
  • Healthcare Payers
  • Pharmaceutical and Medical Device Companies
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • Market Drivers and Constraints
  • SWOT Analysis
  • PESTEL Analysis
  • Porter’s Five Forces Model 
  • Key Demand Indicators
  • Key Price Indicators
  • Industry Events, Initiatives, and Trends 
  • Value Chain Analysis
Supplier Landscape
  • Market Structure
  • Company Profiles
    • Financial Analysis
    • Product Portfolio
    • Demographic Reach and Achievements
    • Company News and Developments
    • Certifications
Companies Covered
  • Iqvia Holdings Inc.
  • Thermo Fisher Scientific Inc.
  • Parexel International Corporation
  • PerkinElmer Inc
  • ICON plc
  • Syneos Health
  • Medpace Holdings, Inc
  • Flatiron Health, Inc.
  • SAS Institute Inc.
  • Cardinal Health, Inc.
  • Others

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