Saudi Arabia Real World Evidence Solutions Market Size & Outlook
Saudi Arabia real world evidence solutions market, 2018-2030 (US$M)
Related Markets
Saudi Arabia real world evidence solutions market highlights
- The Saudi Arabia real world evidence solutions market generated a revenue of USD 8.9 million in 2023 and is expected to reach USD 17.5 million by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 10.1% 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 8.9 million |
| Market revenue in 2030 | USD 17.5 million |
| Growth rate | 10.1% (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, Saudi Arabia accounted for 0.3% 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 Middle East & Africa, South Africa real world evidence solutions market is projected to lead the regional market in terms of revenue in 2030.
- Israel is the fastest growing regional market in Middle East & Africa and is projected to reach USD 15.1 million by 2030.
Services was the largest segment with a revenue share of 57.3% in 2023. Horizon Databook has segmented the Saudi Arabia real world evidence solutions market based on services, data sets covering the revenue growth of each sub-segment from 2018 to 2030.
In 2019, according to an article published by the National Library of Medicine, the pharma epidemiological database was established in 2017 by piloting the conversion of electronic health records from one hospital to the Observational Health Data Sciences and Informatics, Observational Medical Outcomes Partnership's Common Data Model.
The pilot phase was conducted, encompassing data on patient characteristics, medical treatment, therapies, and various supplementary services for around 130,000 Saudi Arabian patients. The bulk of patients (89%) were under the age of 50, with acute respiratory infections being the most common diagnosis.
Hence, the pilot database could be extended to other institutions to create a national dataset that could be used to generate RWE. Implementing database-related initiatives in the country is expected to support market growth as these initiatives are anticipated to facilitate the generation of RWE in the coming years.
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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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Saudi Arabia real world evidence solutions market size, by component, 2018-2030 (US$M)
Saudi Arabia Real World Evidence Solutions Market Outlook Share, 2023 & 2030 (US$M)
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