Global Real World Evidence Solutions Market Size & Outlook
Global real world evidence solutions market, 2018-2030 (US$M)
Related Markets
Global real world evidence solutions market highlights
- The global real world evidence solutions market generated a revenue of USD 2,622.0 million in 2023 and is expected to reach USD 4,554.3 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 8.2% by 2030.
- In terms of segment, services accounted for a revenue of USD 1,511.4 million in 2023.
- Services is the most lucrative component segment registering the fastest growth during the forecast period.
- In terms of region, North America was the largest revenue generating market in 2023.
- Country-wise, U.S. is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 2,622.0 million |
| Market revenue in 2030 | USD 4,554.3 million |
| Growth rate | 8.2% (CAGR from 2023 to 2030) |
| Largest segment | Services |
| Fastest growing segment | Services |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Services, Data Sets |
Other key industry trends
- In terms of revenue, the North America accounted for 43.5% of the global real world evidence solutions market in 2023.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2030.
- By country, U.S. is the fastest growing regional market and is projected to reach USD 1,512.6 million by 2030.
Services was the largest segment with a revenue share of 57.64% in 2023. Horizon Databook has segmented the Global real world evidence solutions market based on services, data sets covering the revenue growth of each sub-segment from 2018 to 2030.
Real-World Evidence (RWE) solutions have been widely used for supporting postapproval safety surveillance studies. Recently, global regulators have started to integrate RWE solutions in early development of drugs and also in other phases of the drug life cycle for testing their effectiveness. Many countries leverage RWE solutions for pharmacovigilance activities as well as for assessing post marketing effectiveness.
In the U.S. and Canada, the initial regulatory RWE frameworks or announcements were released in 2018. The framework outlines several important RWE-related efforts taken by the FDA for evaluating the potential of RWE for the addition or modification of a new population, an indication, or safety profile info or comparative effectiveness to a product label.
As of March 2022, the U.S. is the only nation where RWE is explicitly stated in the legislation.It mandates the FDA for establishing a formal RWE program. The following table demonstrates RWE frameworks and policies in Europe and North America. Within Asia, Singapore and South Korea are continuously working on leveraging RWE solutions for regulatory decision-making beyond postmarketing pharmacovigilance.
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Real World Evidence Solutions Market Scope
Real World Evidence Solutions Market Companies
| Name | Profile | # Employees | HQ | Website |
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Global real world evidence solutions market size, by regions, 2018-2030 (US$M)
Top 10 countries: Real world evidence solutions market size, 2023 (US$M)
Global real world evidence solutions market share, by component, 2023 & 2030 (%, US$M)
Real world evidence solutions market: Opportunity assessment by country
Global real world evidence solutions market, by region, 2023 (US$M)
Related industry reports
Related regional statistics
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