South Korea Real World Evidence Solutions Market Size & Outlook
South Korea real world evidence solutions market, 2018-2030 (US$M)
Related Markets
South Korea real world evidence solutions market highlights
- The South Korea real world evidence solutions market generated a revenue of USD 17.7 million in 2023 and is expected to reach USD 37.5 million by 2030.
- The South Korea market is expected to grow at a CAGR of 11.3% 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 17.7 million |
| Market revenue in 2030 | USD 37.5 million |
| Growth rate | 11.3% (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, South Korea accounted for 0.7% 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 57.63% in 2023. Horizon Databook has segmented the South Korea real world evidence solutions market based on services, data sets covering the revenue growth of each sub-segment from 2018 to 2030.
Favorable government efforts or data governance arrangements for RWE in South Korea contribute to market growth by boosting the market for healthcare data in the country. According to an article, the single-payer health insurance system, for example, enabled data collection from the whole population.
Health Insurance Review & Assessment Service (HIRA) and National Health Insurance Service (NHIS) have claims databases as all healthcare providers submit reimbursement claims to HIRA, and the findings are subsequently forwarded to NHIS.
Keeping these databases aims to offer policymakers and public health experts information on how people use health resources. These databases are important sources of RWE as they provide a wide variety of detailed information on individuals, ranging from basic demographics to illness and healthcare resource consumption.
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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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South Korea real world evidence solutions market size, by component, 2018-2030 (US$M)
South Korea Real World Evidence Solutions Market Outlook Share, 2023 & 2030 (US$M)
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