Real World Evidence Solutions Market Size, Share & Trends Analysis Report By Component (Services, Data Sets), By Application, By End -user, By Region, And Segment Forecasts, 2022 – 2030
New York, July 07, 2022 (GLOBE NEWSWIRE)-Reportlinker.com announced the release of the report “Real World Evidence Solutions Market Size, Share & Trends Analysis Report By Component, By Application, By End-user, By Region And Segment Forecasts, 2022 – 2030 ” – https://www.reportlinker.com/p06291033/?utm_source=GNW
Real World Evidence Solutions Market Growth and Trend
The global market size of real -world evidence solutions is expected to reach USD 78.80 billion by 2030. The market is expected to expand at a CAGR of 8.1% from 2022 to 2030. The key factors driving the solutions market real world evidence (RWE) includes favorable government regulations and changes from quantitative to value -based care. Furthermore, the increasing prevalence of chronic diseases is expected to positively influence market growth.
During the pandemic, companies in the RWE solutions market shifted their focus to providing solutions for curbing the spread of COVID-19. For example, IBM partnered with Salesforce for the development of digital health passes, which include data such as vaccine status, temperature tests, and COVID-19 test results for helping organizations reopen. safely.
It also partnered with ServiceNow with Watson AIOps for supporting it to continue its leadership in transformative artificial intelligence by helping clients automate IT operations and reduce risks.
According to PerkinElmer, real world evidence solutions offer approximately USD 300 to 500 Billion in top-down opportunity for the US healthcare industry alone. In addition, many life science companies witness ad hoc value from selected RWE case studies and show approximately USD 100 million of bottom-up impact. Therefore, if a company gets USD 1 billion in real value of evidence in the world, it ultimately creates more than USD tens of billions in terms of healthcare improvements. This is expected to boost market growth.
Adoption and use of RWE solutions has increased in the developed markets of North America and Europe due to supported initiatives by legal, government, and other regulatory bodies. For example, in October 2021, the FDA selected the Aetion Evidence Platform to use RWE to evaluate COVID-19 interventions and additional science regulation and innovation.
The initiatives of regulatory agencies support the expansion of RWE from after-market safety monitoring to other applications, such as for clinical trial design and observational studies and to validate decisions. in scope.
Market players invest in many strategic initiatives, such as acquisitions, mergers, partnerships, and product launches, to maintain a competitive advantage in the market. For example, in August 2021, Syneos Health partnered with Aetion for offering RWE solutions for advanced drug development and commercialization.
This partnership brings together Syneos Health’s proprietary research data collection solutions and Aetion’s Evidence platform, AEP, for evidence generation through curation of patient data and real-world data.
Real World Evidence Solutions Market Report Highlights
• Favorable government initiatives and the shift from quantity to value -based care are expected to boost market growth
• The services share led the market in 2021 due to its increasing demand during the forecast period
• The application segment for drug development and approval will dominate the market in 2021 due to the increasing use of RWE solutions among pharmaceutical companies for this application.
• The end-user segment that pays for healthcare is expected to grow at the fastest CAGR during the forecast period due to increased awareness among payers about drug and medical device safety
• North America led the global market in 2021 with a revenue share of more than 40.0% due to the presence of major players in the region
• Asia Pacific is expected to be the fastest growing regional market from 2022 to 2030 due to the presence of contract research organizations in the region
• The market is a relatively competitive market. For example, in April 2021, Thermo Fisher Scientific announced that it was set to take over PPD, Inc. at a cost of USD 47.50 per share
Read the full report: https://www.reportlinker.com/p06291033/?utm_source=GNW
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