India Real World Evidence Solutions Market Size & Outlook
India real world evidence solutions market, 2018-2030 (US$M)
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India real world evidence solutions market highlights
- The India real world evidence solutions market generated a revenue of USD 40.6 million in 2023 and is expected to reach USD 92.9 million by 2030.
- The India market is expected to grow at a CAGR of 12.5% 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 40.6 million |
| Market revenue in 2030 | USD 92.9 million |
| Growth rate | 12.5% (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, India accounted for 1.5% 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 57.64% in 2023. Horizon Databook has segmented the India 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) is clinical data obtained by Real World Data (RWD) analysis of use and prospective advantages or dangers of a medical product. RWD contains a wide range of information, such as electronic health records, insurance information, and product & disease registries.
India provides a one-of-a-kind opportunity to perform RWE research in various fields, including health economics and outcomes. An RWE study was conducted in India, according to data from the National Library of Medicine, in 2019, there is no demand for RWE research from insurance companies, patient organizations, or authorities in the country.
As a result, pharmaceutical firms undertake most of these research studies. Hence, such initiatives and studies in the country are expected to contribute further to market growth. Furthermore, increasing government initiatives to digitize healthcare infrastructure are expected to drive the market.
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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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India real world evidence solutions market size, by component, 2018-2030 (US$M)
India Real World Evidence Solutions Market Outlook Share, 2023 & 2030 (US$M)
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