Real World Evidence Solutions Market Size And Forecast
According to Verified Market Research, The Global Real World Evidence Solutions Market was valued at USD 5,441.7 Million in 2018 and is projected to reach USD 8,152.4 Million by 2026, growing at a CAGR of 5.44% from 2019 to 2026.

The latest survey on Global Real-World Evidence Solutions Market is conducted covering various organizations of the industry from different geographies to come up with a 100+ page report. The study is a perfect mix of qualitative and quantitative information highlighting key market developments, challenges that industry and competition are facing along with gap analysis and new opportunities available and trend in the Real-World Evidence Solutions Market. The report aims to present the analysis of the Global Real-World Evidence Solutions Market By Component, By End User, By Region – North America, Europe, South America, Asia-Pacific, Middle East, and Africa. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyses the emerging trends along with major drivers, challenges and opportunities.

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What is Real-World Evidence Solution?
Real-World Evidence (RWE) is defined as organized information deriving clinical outcomes or judgment that is created on the real-world data (RWD). It utilizes observational data to make insights, extrapolative findings, and foresight on diseases, medical devices, patient populations, and products. RWD is the process of collecting data that is utilized for decision making by the healthcare industry, such data can’t be collected in a traditional randomized controlled trial (RCT) setting.

RWE collects the information from the existing secondary sources, for example; databases of the World Health Organization to procure new data. It is a procedure of late-phase research finding that is an emerging segment for the patient-centric outcome research. The key objective of the healthcare industry is to develop novel drugs and medical devices in the market more rapidly for improved health outcomes in patients. Real-world evidence (RWE) solutions provide deeper insight regarding drug usage and its outcomes in the real world.

Global Real World Evidence Solutions Market Outlook
In the report, the market outlook section mainly encompasses the fundamental dynamics of the market which include drivers, restraints, opportunities, and challenges faced by the industry. Drivers and restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.

The rising trend of value-based study than volume-based study is helping in the market growth. The rising geriatric population and associated chronic diseases are the biggest drivers of the market. Moreover, the demand for Real-World evidence solutions in the market due to an increase in drug development delay cases and overall drug development costs. The solution is recognized as an efficient solution by several biotechnological and pharmaceutical companies due to a reduction in the overall drug development costs.

However, reluctance to rely on real-world data findings and lack of standardization of real-world evidence solution is likely to be the restraining factors for the growth of the market during the forecast period.

Verified Market Research narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements that interests the client. The Real World Evidence Solutions Market is mainly bifurcated into sub-segments which can provide classified data regarding the latest trends in the market.

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Global Real World Evidence Solutions Market, Segment Analysis
The Global Real World Evidence Solutions Market is segmented on the basis of Component, End-User, and Geography.

Real World Evidence Solutions Market, by Component:
On the basis of the Component, the market is bifurcated into Clinical Settings Data, Patient-Powered Data, Pharmacy Data, and Claims Data. Global Real World Evidence Solutions Market for Clinical Settings Data segment is anticipated to be the largest as well as the fastest-growing over the estimated period. The clinical data is basically a staple source of most of the health and medical research which is either collected during the course of any ongoing patient care or is a part of a formal clinical trial program. By End-User, the market is classified into Healthcare Payer, Pharmaceutical & Medical Device Companies, Healthcare Providers and Others. Global Real World Evidence Solutions Market for Healthcare Payer segment is expected to be largest during the forecast period. There can be more than one sponsor for a particular event. In order to deliver better health outcomes and access to new advances with budgetary contemplations, it becomes highly essential for payers to adjust to the needs of the patients.

Real World Evidence Solutions Market, Geographic Analysis
The Global Real World Evidence Solutions Market is studied on the basis of key geographies North America, Europe, Asia Pacific and Rest of the World (RoW). North America dominated the Global Real World Evidence Solutions Market in 2018. US market accounted for the majority of the market in this region in 2018, which is expected to continue over the forecast period.

The region is integrating its big data analytics platform, to strive faster, make more informed decisions with the potential to lead first in class and best in class treatment. North America is a home of giant market players such as Iqvia, Parexel, IBM and service provider Oracle, cognizant. Healthcare giants are collaborating with evidence platform to augment its treatment development and deployment efforts. The US is expected to dominate the North American market, owing to a high demand in clinical research activities.

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Global Real-World Evidence Solutions Market Competitive Landscape
The Global Real World Evidence Solutions Market is highly fragmented with the presence of a large number of manufacturers globally. Some of the major players include IBM, Oracle, Cognizant, Parexel, PerkinElmer, and Deloitte Monitor. PerkinElmer is one of the top five players for the Global Real World Evidence Solutions Market.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.