The North America Real World Evidence Solutions Market would witness market growth of 6.9% CAGR during the forecast period (2022-2028).
RWE solutions are expected to receive support from regulatory agencies, and spending on R&D is expected to rise. In addition, the transition from volume to value-based care is anticipated to promote growth. The COVID-19 pandemic caused widespread commercial interruptions for many market participants, impeding regular company operations.
For instance, IQVIA said that it was difficult to provide services that depended on in-person meetings or face-to-face conversations, as well as undertake on-site monitoring. Therefore, to lessen the effect on profitability, the corporation accelerated and increased the number of cost-containment measures.
Additionally, it initiated business continuity plans, turning on remote delivery capabilities for analytics and technology, remote monitoring and virtual trials for solutions for research and development, and, whenever practical, virtual client interactions. The National Patient-Centered Clinical Research Network (PCORnet), along with the National Institutes of Health Collaboratory and the FDA's Sentinel Initiative, have worked together to use the RWE data to raise the medication safety monitoring as well as clinical trials’ effectiveness.
To keep track of postmarket safety and adverse occurrences and formulate regulatory decisions, FDA uses RWD and RWE. These data are being used by the medical community to generate guidelines and decision-support systems for employment in clinical practice as well as to help choices about insurance coverage. Clinical trial designs, such as big simple trials, pragmatic clinical trials, and observational studies, are supported by RWD and RWE in developing medical products. The use of these forms of data to promote regulatory decision-making, including the approval of new indications for current pharmaceuticals, is given more attention by the 21st Century Cures Act, which was passed in 2016. Congress defined RWE as information about the use of a drug or its possible advantages or disadvantages that come from sources other than conventional clinical trials. Thus, all the aforementioned factors are expected to drive the growth of the market in the North American region during the forecast period.
The US market dominated the North America Real World Evidence Solutions Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $19,395.8 million by 2028.The Canada market is poised to grow at a CAGR of 9.3% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 8.3% during (2022 - 2028).
Based on Component, the market is segmented into Services and Data Set. Based on Therapeutic Area, the market is segmented into Oncology, Cardiology, Neurology, Diabetes, Respiratory and Others. Based on End-user, the market is segmented into Healthcare Companies, Healthcare Payers, Healthcare Providers and Others. Based on Application, the market is segmented into Drug Development & Approvals, Medical Device Development & Approvals, Reimbursement/Coverage & Regulatory Decision Making and Post Market Safety & Adverse Events Monitoring. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Real World Evidence Solutions Market is Estimated to reach $65.1 Billion by 2028, at a CAGR of 8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Oracle Corporation, Medpace Holdings, Inc., IQVIA Holdings, Inc., ICON plc, PerkinElmer, Inc., Parexel International Corporation (Phoenix Parentco, Inc.), PPD, Inc. (Thermo Fisher Scientific, Inc.), UnitedHealth Group, Inc. (Optum, Inc.), and Syneos Health, Inc.
Scope of the Study
Market Segments Covered in the Report:
By Component
By Therapeutic Area
- Oncology
- Cardiology
- Neurology
- Diabetes
- Respiratory
- Others
By End-user
- Healthcare Companies
- Healthcare Payers
- Healthcare Providers
- Others
By Application
- Drug Development & Approvals
- Medical Device Development & Approvals
- Reimbursement/Coverage & Regulatory Decision Making
- Post Market Safety & Adverse Events Monitoring
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- IBM Corporation
- Oracle Corporation
- Medpace Holdings, Inc.
- IQVIA Holdings, Inc.
- ICON plc
- PerkinElmer, Inc.
- Parexel International Corporation (Phoenix Parentco, Inc.)
- PPD, Inc. (Thermo Fisher Scientific, Inc.)
- UnitedHealth Group, Inc. (Optum, Inc.)
- Syneos Health, Inc.
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Real World Evidence Solutions Market, by Component
1.4.2 North America Real World Evidence Solutions Market, by Therapeutic Area
1.4.3 North America Real World Evidence Solutions Market, by End-user
1.4.4 North America Real World Evidence Solutions Market, by Application
1.4.5 North America Real World Evidence Solutions Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Scenario and Composition
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Strategies Deployed in Real World Evidence Solutions Market
Chapter 4. North America Real World Evidence Solutions Market by Component
4.1 North America Services Market by Country
4.2 North America Data Set Market by Country
Chapter 5. North America Real World Evidence Solutions Market by Therapeutic Area
5.1 North America Oncology Market by Country
5.2 North America Cardiology Market by Country
5.3 North America Neurology Market by Country
5.4 North America Diabetes Market by Country
5.5 North America Respiratory Market by Country
5.6 North America Others Market by Country
Chapter 6. North America Real World Evidence Solutions Market by End-user
6.1 North America Healthcare Companies Market by Country
6.2 North America Healthcare Payers Market by Country
6.3 North America Healthcare Providers Market by Country
6.4 North America Others Market by Country
Chapter 7. North America Real World Evidence Solutions Market by Application
7.1 North America Drug Development & Approvals Market by Country
7.2 North America Medical Device Development & Approvals Market by Country
7.3 North America Reimbursement/Coverage & Regulatory Decision Making Market by Country
7.4 North America Post Market Safety & Adverse Events Monitoring Market by Country
Chapter 8. North America Real World Evidence Solutions Market by Country
8.1 US Real World Evidence Solutions Market
8.1.1 US Real World Evidence Solutions Market by Component
8.1.2 US Real World Evidence Solutions Market by Therapeutic Area
8.1.3 US Real World Evidence Solutions Market by End-user
8.1.4 US Real World Evidence Solutions Market by Application
8.2 Canada Real World Evidence Solutions Market
8.2.1 Canada Real World Evidence Solutions Market by Component
8.2.2 Canada Real World Evidence Solutions Market by Therapeutic Area
8.2.3 Canada Real World Evidence Solutions Market by End-user
8.2.4 Canada Real World Evidence Solutions Market by Application
8.3 Mexico Real World Evidence Solutions Market
8.3.1 Mexico Real World Evidence Solutions Market by Component
8.3.2 Mexico Real World Evidence Solutions Market by Therapeutic Area
8.3.3 Mexico Real World Evidence Solutions Market by End-user
8.3.4 Mexico Real World Evidence Solutions Market by Application
8.4 Rest of North America Real World Evidence Solutions Market
8.4.1 Rest of North America Real World Evidence Solutions Market by Component
8.4.2 Rest of North America Real World Evidence Solutions Market by Therapeutic Area
8.4.3 Rest of North America Real World Evidence Solutions Market by End-user
8.4.4 Rest of North America Real World Evidence Solutions Market by Application
Chapter 9. Company Profiles
9.1 IBM Corporation
9.1.1 Company Overview
9.1.2 Financial Analysis
9.1.3 Regional & Segmental Analysis
9.1.4 Research & Development Expenses
9.1.5 Recent strategies and developments:
9.1.5.1 Acquisition and Mergers:
9.1.6 SWOT Analysis
9.2 Oracle Corporation
9.2.1 Company Overview
9.2.2 Financial Analysis
9.2.3 Segmental and Regional Analysis
9.2.4 Research & Development Expense
9.2.5 SWOT Analysis
9.3 PPD, Inc. (Thermo Fisher Scientific, Inc.)
9.3.1 Company Overview
9.3.2 Financial Analysis
9.3.3 Segmental and Regional Analysis
9.3.4 Research & Development Expense
9.3.5 SWOT Analysis
9.4 UnitedHealth Group, Inc. (Optum, Inc.)
9.4.1 Company Overview
9.4.2 Financial Analysis
9.4.3 Segmental Analysis
9.5 Syneos Health, Inc.
9.5.1 Company Overview
9.5.2 Financial Analysis
9.5.3 Segmental and Regional Analysis
9.5.4 Recent strategies and developments:
9.5.4.1 Acquisition and Mergers:
9.6 IQVIA Holdings, Inc.
9.6.1 Company Overview
9.6.2 Financial Analysis
9.6.3 Segmental and Regional Analysis
9.6.4 Recent strategies and developments:
9.6.4.1 Partnerships, Collaborations, and Agreements:
9.6.4.2 Acquisition and Mergers:
9.7 Medpace Holdings, Inc.
9.7.1 Company Overview
9.7.2 Financial Analysis
9.8 ICON plc
9.8.1 Company Overview
9.8.2 Financial Analysis
9.8.3 Regional Analysis
9.8.4 Recent strategies and developments:
9.8.4.1 Acquisition and Mergers:
9.9 PerkinElmer, Inc.
9.9.1 Company Overview
9.9.2 Financial Analysis
9.9.3 Segmental and Regional Analysis
9.9.4 Research & Development Expense
9.9.5 Recent strategies and developments:
9.9.5.1 Product Launches and Product Expansions:
9.10. Parexel International Corporation (Phoenix Parentco, Inc.)
9.10.1 Company Overview
9.10.2 Recent strategies and developments:
9.10.2.1 Partnerships, Collaborations, and Agreements:
TABLE 1 North America Real World Evidence Solutions Market, 2018 - 2021, USD Million
TABLE 2 North America Real World Evidence Solutions Market, 2022 - 2028, USD Million
TABLE 3 North America Real World Evidence Solutions Market by Component, 2018 - 2021, USD Million
TABLE 4 North America Real World Evidence Solutions Market by Component, 2022 - 2028, USD Million
TABLE 5 North America Services Market by Country, 2018 - 2021, USD Million
TABLE 6 North America Services Market by Country, 2022 - 2028, USD Million
TABLE 7 North America Data Set Market by Country, 2018 - 2021, USD Million
TABLE 8 North America Data Set Market by Country, 2022 - 2028, USD Million
TABLE 9 North America Real World Evidence Solutions Market by Therapeutic Area, 2018 - 2021, USD Million
TABLE 10 North America Real World Evidence Solutions Market by Therapeutic Area, 2022 - 2028, USD Million
TABLE 11 North America Oncology Market by Country, 2018 - 2021, USD Million
TABLE 12 North America Oncology Market by Country, 2022 - 2028, USD Million
TABLE 13 North America Cardiology Market by Country, 2018 - 2021, USD Million
TABLE 14 North America Cardiology Market by Country, 2022 - 2028, USD Million
TABLE 15 North America Neurology Market by Country, 2018 - 2021, USD Million
TABLE 16 North America Neurology Market by Country, 2022 - 2028, USD Million
TABLE 17 North America Diabetes Market by Country, 2018 - 2021, USD Million
TABLE 18 North America Diabetes Market by Country, 2022 - 2028, USD Million
TABLE 19 North America Respiratory Market by Country, 2018 - 2021, USD Million
TABLE 20 North America Respiratory Market by Country, 2022 - 2028, USD Million
TABLE 21 North America Others Market by Country, 2018 - 2021, USD Million
TABLE 22 North America Others Market by Country, 2022 - 2028, USD Million
TABLE 23 North America Real World Evidence Solutions Market by End-user, 2018 - 2021, USD Million
TABLE 24 North America Real World Evidence Solutions Market by End-user, 2022 - 2028, USD Million
TABLE 25 North America Healthcare Companies Market by Country, 2018 - 2021, USD Million
TABLE 26 North America Healthcare Companies Market by Country, 2022 - 2028, USD Million
TABLE 27 North America Healthcare Payers Market by Country, 2018 - 2021, USD Million
TABLE 28 North America Healthcare Payers Market by Country, 2022 - 2028, USD Million
TABLE 29 North America Healthcare Providers Market by Country, 2018 - 2021, USD Million
TABLE 30 North America Healthcare Providers Market by Country, 2022 - 2028, USD Million
TABLE 31 North America Others Market by Country, 2018 - 2021, USD Million
TABLE 32 North America Others Market by Country, 2022 - 2028, USD Million
TABLE 33 North America Real World Evidence Solutions Market by Application, 2018 - 2021, USD Million
TABLE 34 North America Real World Evidence Solutions Market by Application, 2022 - 2028, USD Million
TABLE 35 North America Drug Development & Approvals Market by Country, 2018 - 2021, USD Million
TABLE 36 North America Drug Development & Approvals Market by Country, 2022 - 2028, USD Million
TABLE 37 North America Medical Device Development & Approvals Market by Country, 2018 - 2021, USD Million
TABLE 38 North America Medical Device Development & Approvals Market by Country, 2022 - 2028, USD Million
TABLE 39 North America Reimbursement/Coverage & Regulatory Decision Making Market by Country, 2018 - 2021, USD Million
TABLE 40 North America Reimbursement/Coverage & Regulatory Decision Making Market by Country, 2022 - 2028, USD Million
TABLE 41 North America Post Market Safety & Adverse Events Monitoring Market by Country, 2018 - 2021, USD Million
TABLE 42 North America Post Market Safety & Adverse Events Monitoring Market by Country, 2022 - 2028, USD Million
TABLE 43 North America Real World Evidence Solutions Market by Country, 2018 - 2021, USD Million
TABLE 44 North America Real World Evidence Solutions Market by Country, 2022 - 2028, USD Million
TABLE 45 US Real World Evidence Solutions Market, 2018 - 2021, USD Million
TABLE 46 US Real World Evidence Solutions Market, 2022 - 2028, USD Million
TABLE 47 US Real World Evidence Solutions Market by Component, 2018 - 2021, USD Million
TABLE 48 US Real World Evidence Solutions Market by Component, 2022 - 2028, USD Million
TABLE 49 US Real World Evidence Solutions Market by Therapeutic Area, 2018 - 2021, USD Million
TABLE 50 US Real World Evidence Solutions Market by Therapeutic Area, 2022 - 2028, USD Million
TABLE 51 US Real World Evidence Solutions Market by End-user, 2018 - 2021, USD Million
TABLE 52 US Real World Evidence Solutions Market by End-user, 2022 - 2028, USD Million
TABLE 53 US Real World Evidence Solutions Market by Application, 2018 - 2021, USD Million
TABLE 54 US Real World Evidence Solutions Market by Application, 2022 - 2028, USD Million
TABLE 55 Canada Real World Evidence Solutions Market, 2018 - 2021, USD Million
TABLE 56 Canada Real World Evidence Solutions Market, 2022 - 2028, USD Million
TABLE 57 Canada Real World Evidence Solutions Market by Component, 2018 - 2021, USD Million
TABLE 58 Canada Real World Evidence Solutions Market by Component, 2022 - 2028, USD Million
TABLE 59 Canada Real World Evidence Solutions Market by Therapeutic Area, 2018 - 2021, USD Million
TABLE 60 Canada Real World Evidence Solutions Market by Therapeutic Area, 2022 - 2028, USD Million
TABLE 61 Canada Real World Evidence Solutions Market by End-user, 2018 - 2021, USD Million
TABLE 62 Canada Real World Evidence Solutions Market by End-user, 2022 - 2028, USD Million
TABLE 63 Canada Real World Evidence Solutions Market by Application, 2018 - 2021, USD Million
TABLE 64 Canada Real World Evidence Solutions Market by Application, 2022 - 2028, USD Million
TABLE 65 Mexico Real World Evidence Solutions Market, 2018 - 2021, USD Million
TABLE 66 Mexico Real World Evidence Solutions Market, 2022 - 2028, USD Million
TABLE 67 Mexico Real World Evidence Solutions Market by Component, 2018 - 2021, USD Million
TABLE 68 Mexico Real World Evidence Solutions Market by Component, 2022 - 2028, USD Million
TABLE 69 Mexico Real World Evidence Solutions Market by Therapeutic Area, 2018 - 2021, USD Million
TABLE 70 Mexico Real World Evidence Solutions Market by Therapeutic Area, 2022 - 2028, USD Million
TABLE 71 Mexico Real World Evidence Solutions Market by End-user, 2018 - 2021, USD Million
TABLE 72 Mexico Real World Evidence Solutions Market by End-user, 2022 - 2028, USD Million
TABLE 73 Mexico Real World Evidence Solutions Market by Application, 2018 - 2021, USD Million
TABLE 74 Mexico Real World Evidence Solutions Market by Application, 2022 - 2028, USD Million
TABLE 75 Rest of North America Real World Evidence Solutions Market, 2018 - 2021, USD Million
TABLE 76 Rest of North America Real World Evidence Solutions Market, 2022 - 2028, USD Million
TABLE 77 Rest of North America Real World Evidence Solutions Market by Component, 2018 - 2021, USD Million
TABLE 78 Rest of North America Real World Evidence Solutions Market by Component, 2022 - 2028, USD Million
TABLE 79 Rest of North America Real World Evidence Solutions Market by Therapeutic Area, 2018 - 2021, USD Million
TABLE 80 Rest of North America Real World Evidence Solutions Market by Therapeutic Area, 2022 - 2028, USD Million
TABLE 81 Rest of North America Real World Evidence Solutions Market by End-user, 2018 - 2021, USD Million
TABLE 82 Rest of North America Real World Evidence Solutions Market by End-user, 2022 - 2028, USD Million
TABLE 83 Rest of North America Real World Evidence Solutions Market by Application, 2018 - 2021, USD Million
TABLE 84 Rest of North America Real World Evidence Solutions Market by Application, 2022 - 2028, USD Million
TABLE 85 Key information – IBM Corporation
TABLE 86 Key Information – Oracle Corporation
TABLE 87 Key Information – PPD, Inc.
TABLE 88 Key Information – UnitedHealth Group, Inc.
TABLE 89 Key Information – Syneos Health, Inc.
TABLE 90 Key information – IQVIA Holdings, Inc.
TABLE 91 key Information – Medpace Holdings, Inc.
TABLE 92 key Information – PerkinElmer, Inc.
TABLE 93 Key Information – PAREXEL International Corporation
List of Figures
FIG 1 Methodology for the research
FIG 2 Swot analysis: IBM Corporation
FIG 3 SWOT analysis: Oracle Corporation
FIG 4 Swot analysis: thermo fisher scientific, inc.