Real World Evidence Solutions Market
                     Real World 
Evidence 
Solutions 
Market
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As per a report by P&S Intelligence, the real-world evidence solutions market generated revenue 
of USD 1,560 million in 2022, and it will witness a compound annual growth rate of 12.40%, to 
reach USD 3,974 million by 2030.
The growth of the industry is due to the increasing number of clinical trials, rising research and 
development activities for medical devices and drugs, and shifting focus from volume-based to 
value-based healthcare.
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Furthermore, RWE and RWD are used to advance protocol designs, with the aim of decreasing 
the number of expensive protocol revisions. These solutions can also be used in creating 
synthetic control arms, which will fasten trial execution and decrease the overall cost.
Additionally, the rapid advancement in volume, generation speed, and variety of data and the 
necessity for quick insights are increasing the demand for the right technologies for RWE 
program implementation. Hence, numerous life science companies are implementing cloud 
technologies due to the speed, scalability, flexibility, and safety they offer.
In 2022, the services category dominated the real-world evidence solutions market with a more 
than 56% share, and it will remain dominant throughout this decade. This is credited to the 
growing need for decrease in the delays in drug development and the availability of more 
healthcare information that needs to be analyzed.
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The data sets category is expected to grow at a significant rate in the near future. This is mainly because of 
the growing attention to gain more insights into epidemiology and the increasing amount of information 
generated in the healthcare sector.
The pharmaceutical and medical device companies category will grow at the highest CAGR, of 12.9%, in the 
years to come. This can be attributed to the need for the elimination of the costly drug recalls and drug 
performance evaluation in real-world settings and the increasing importance of real-world evidence (RWE) 
analyses in drug support.
Additionally, the pharmaceutical sector is increasingly using real-world evidence to meet the governing 
compliance necessities, along with the payer requirements related to health economics and outcomes 
research (HEOR).
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market
The APAC industry will grow at the highest CAGR, of approximately 14%, in the near future. The growth is 
mainly credited to the increasing incidence of chronic diseases, rising demand for advanced healthcare 
services, existence of various contract research organizations, growing number of clinical trials, strong 
support of governments for the adoption of RWE studies, and increasing elderly population.
It is because of the increasing research and development expenditure, rising demand for clinical and 
preclinical services during the drug development process, and increasing incidence of chronic diseases that 
the real-world evidence solution demand will considerably grow in the coming years.
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