Canada Real World Evidence Solutions Market Size & Outlook
Canada real world evidence solutions market, 2018-2030 (US$M)
Related Markets
Canada real world evidence solutions market highlights
- The Canada real world evidence solutions market generated a revenue of USD 213.9 million in 2023 and is expected to reach USD 366.8 million by 2030.
- The Canada market is expected to grow at a CAGR of 8% from 2024 to 2030.
- In terms of segment, services was the largest revenue generating component in 2023.
- Services is the most lucrative component segment registering the fastest growth during the forecast period.
Real world evidence solutions market data book summary
| Market revenue in 2023 | USD 213.9 million |
| Market revenue in 2030 | USD 366.8 million |
| Growth rate | 8% (CAGR from 2023 to 2030) |
| Largest segment | Services |
| Fastest growing segment | Services |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Services, Data Sets |
| Key market players worldwide | IQVIA Holdings Inc, International Business Machines Corp, Thermo Fisher Scientific Inc, PAREXEL, PerkinElmer, Icon PLC, Oracle Corp, Syneos Health, Medpace Holdings Inc |
Other key industry trends
- In terms of revenue, Canada accounted for 8.2% of the global real world evidence solutions market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. real world evidence solutions market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 366.8 million by 2030.
Services was the largest segment with a revenue share of 57.64% in 2023. Horizon Databook has segmented the Canada real world evidence solutions market based on services, data sets covering the revenue growth of each sub-segment from 2018 to 2030.
The increasing demand for RWE & RWD to augment drug discovery & development, rising inclination of regulatory bodies toward the use of RWE, and growing investments by biopharmaceutical companies in R&D are key factors driving the RWE solution market in Canada.
Moreover, strategic initiatives by key players, such as collaborations, acquisitions, and partnerships with emerging players also contribute to market growth. For instance, in June 2022, Dacima Software, a Canadian software company, and EVIDENTIQ, have joined forces to provide an end-to-end software solution for clinical trials.
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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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Canada real world evidence solutions market size, by component, 2018-2030 (US$M)
Canada Real World Evidence Solutions Market Outlook Share, 2023 & 2030 (US$M)
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