U.S. Real World Evidence Solutions Market Size & Outlook
U.S. real world evidence solutions market, 2018-2030 (US$M)
Related Markets
U.S. real world evidence solutions market highlights
- The U.S. real world evidence solutions market generated a revenue of USD 926.3 million in 2023 and is expected to reach USD 1,512.6 million by 2030.
- The U.S. market is expected to grow at a CAGR of 7.3% 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 926.3 million |
| Market revenue in 2030 | USD 1,512.6 million |
| Growth rate | 7.3% (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, U.S. accounted for 35.3% 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 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 U.S. real world evidence solutions market based on services, data sets covering the revenue growth of each sub-segment from 2018 to 2030.
Drivers include the increasing number of payers using Real-world Data (RWD), a favorable regulatory environment, an increasing number of RWE service providers, and a rising number of pharmaceutical companies adopting RWE solutions for drug approval processes are fueling the growth of the RWE solutions market in the country.
For instance, in October 2021, The Professional Society for Health Economics and Outcomes Research (ISPOR) reported the launch of the Real-World Evidence Transparency Initiative's Real-World Evidence Registry, a platform built to provide researchers with a fitfor-purpose tool to register their study designs before beginning their study to promote the transparency required to increase the confidence in the study outcome.
The key market players operating in the U.S. RWE solutions market experienced an initial decline due to uncertainties associated with the COVID-19 pandemic. This decline was mainly because of crucial restrictions on travel in many countries, limited access to hospitals, and a shift of resources to COVID19 management in healthcare settings.
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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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U.S. real world evidence solutions market size, by component, 2018-2030 (US$M)
U.S. Real World Evidence Solutions Market Outlook Share, 2023 & 2030 (US$M)
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