Market Size in 2021 | Market Forecast in 2028 | CAGR (in %) | Base Year |
---|---|---|---|
USD 1.29 Billion | USD 2.57 Billion | 13.9% | 2021 |
FrequentlyAsked Questions
Increase in backing from regulatory groups for the use of real-world evidence solutions to drive the market growth. A post-market active safety surveillance system through newer digital tools, such as the FDA Sentinel Initiative as well as traditional pharmacovigilance tools such as the vaccine adverse event reporting system, periodic safety update report, and periodic benefit-risk evaluation report, are used by regulators to supervise the safety of marketed products. RWE is currently being employed in pre-approved efficacy determinations, and it has the ability that could be used more widely in pediatric ailments, rare diseases, and oncology where randomized controlled clinical trials are unethical or impracticable to execute.
According to the Zion Market Research report, the global real-world evidence solutions market was worth about 1.29 (USD billion) in 2021 and is predicted to grow to around 2.57 (USD billion) by 2028, with a compound annual growth rate (CAGR) of around 13.9 percent.
North America is expected to hold the greatest portion of the global real-world evidence solutions market during the forecast period. The growth of the RWE solutions market in North America is being driven by factors such as the growing number of pharmaceutical companies implementing RWE for drug approval processes, a rising number of RWE service providers, an increasing number of payers employing RWD, and favorable regulatory system.
Optum, Inc., PPD, LLC, PAREXEL International Corporation, ICON plc., IBM Corporation, IQVIA, Syneos Health, Inc, SAS Institute Inc., Oracle Corporation, and Cognizant Technology Solutions Corporation are some of the major players operating in the global real-world evidence solutions market.
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