China Real World Evidence Solutions Market Size & Outlook
China real world evidence solutions market, 2018-2030 (US$M)
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China real world evidence solutions market highlights
- The China real world evidence solutions market generated a revenue of USD 75.2 million in 2023 and is expected to reach USD 162.1 million by 2030.
- The China market is expected to grow at a CAGR of 11.6% 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 75.2 million |
| Market revenue in 2030 | USD 162.1 million |
| Growth rate | 11.6% (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, China accounted for 2.9% 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 Asia Pacific, Japan real world evidence solutions market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 92.9 million by 2030.
Services was the largest segment with a revenue share of 57.71% in 2023. Horizon Databook has segmented the China real world evidence solutions market based on services, data sets covering the revenue growth of each sub-segment from 2018 to 2030.
The real-world evidence solutions market in China is being driven by rising awareness about RWE solutions or RWD as well as increasing digitalization in healthcare IT. The RWD foundation in China is rather poor; not only does it need to enhance data quality and accessibility but also needs to optimize RWD policy & focus on patient privacy protection.
With the advancement of technology, more and more health data from RWD sources is becoming available. Advances in analytics, as well as access to large and diverse real-world data sets, have made it feasible to study data as it is collected to better understand how pandemics like COVID-19 are affecting China.
Additionally, the Chinese healthcare system is increasingly relying on big data to help improve the quality of care and efficiency of the healthcare system. This is leading to the adoption of various types of RWE solutions, such as electronic health records (EHRs), clinical decision support systems (CDSS), and predictive analytics.
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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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China real world evidence solutions market size, by component, 2018-2030 (US$M)
China Real World Evidence Solutions Market Outlook Share, 2023 & 2030 (US$M)
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