U.S. Real-World Evidence (RWE) Solutions Market by Component [Datasets (Clinical, Claims, Pharmacy, Integrated), Services], Application (Market Access, Oncology, Neurology), End User (Pharma Companies, Providers) - Forecast to 2029

U.S. Real-World Evidence (RWE) Solutions Market by Component [Datasets (Clinical, Claims, Pharmacy, Integrated), Services], Application (Market Access, Oncology, Neurology), End User (Pharma Companies, Providers) - Forecast to 2029

U.S. Real-World Evidence (RWE) Solutions Market by Component [Datasets (Clinical, Claims, Pharmacy), Services], Application (Market Access, Oncology, Neurology, Post Market Surveillance), End User (Pharma Companies, Providers)- Forecast to 2029

The U.S. RWE solutions market is expected to grow at a CAGR of 13.1% from 2022 to 2029 to reach $2.22 billion by 2029

Following a thorough secondary and primary research and in-depth analysis of the market scenario, the report carries out the key industry drivers, restraints, challenges, and opportunities

Growing incidence of chronic & infectious diseases, delays in drug development and the subsequent increase in development costs, rising focus towards personalized healthcare, a shift from volume to value-based care, and rapidly growing big data in healthcare are the key factors driving steady growth in the U.S. RWE solutions market. Further, significant opportunities for existing market players and new entrants are provided by rising focus on end-to-end RWE services, and rising adoption of wearable devices and AI in RWE

Based on component, in 2022, the datasets segment is expected to command the largest share in the market. Real-world data (RWD) are derived from various sources associated with outcomes in a heterogeneous patient population in real-world settings. Datasets are present in a secondary format on which retrospective studies are conducted to generate real-world evidence. This real-world evidence provides meaningful insights into unmet needs and the clinical and economic impacts on patients and healthcare systems. It also determines the outcomes based on much larger data samples, reduces costs, and improves the efficiency of clinical trials.

Based on application, the drug development & approvals segment is expected to show the fastest growth rate in the forecast period. Factors attributing towards the growth of this segment are increasing demand for real-world data and real-world evidence to accelerate drug discovery and development, and increasing investments by biopharmaceutical companies in R&D.

In the field of drug development, quality-of-life metrics, and Patient-Reported Outcome Measures (PROMs) are now becoming common elements in clinical trials. The evidence generated from real-world data is regularly utilized to inform aspects of drug development. The role of RWE in drug development is expanding as RWE studies are significantly less costly and time-consuming than RCTs, providing easier access to long-term effectiveness data and helping overcome some of the feasibility barriers of running RCTs.

Based on end user, the pharmaceutical & medical device companies segment is expected to show the fastest growth rate in the forecast period. The growth of this segment is primarily attributed to the increasing importance of RWE studies in drug development & approvals and the growing need to avoid costly drug recalls and assess drug performance in real-world settings.

The cost of developing a new drug was more than ~USD 2,600 million in 2020 compared to USD 802 million in 2003. This increase in drug development costs reflects various technical, regulatory, and economic challenges pharmaceutical R&D pipelines face.

The key companies operating in the U.S. RWE solutions market are Anthem, Inc. (U.S.), Clinigen Group plc (U.K.), Cognizant Technology Solutions Corporation (U.S.), IBM Corporation (U.S.), ICON plc (Ireland), IQVIA HOLDINGS INC. (U.S.), Oracle Corporation (U.S.), PAREXEL International Corporation (U.S.), PerkinElmer, Inc. (U.S.), PPD, Inc. (U.S.), SAS Institute Inc. (U.S.), UnitedHealth Group Incorporated (U.S.), and Flatiron Health, Inc. (U.S.).

Scope of the Report

U.S. RWE Solutions Market, by Component

Datasets
Disparate Datasets
EMR/EHR/Clinical Data
Claims & Billing Data
Pharmacy Data
Product/Disease Registries Data
Other Disparate Datasets
Integrated Datasets
Consulting and Analytics

(Note – Other Disparate Datasets include data generated from mobile devices, wearable devices, and social media)

U.S. RWE Solutions Market, by Application

Market Access & Reimbursement/Coverage Decisions
Drug Development & Approvals
Oncology
Neurology
Immunology
Cardiovascular Diseases
Other Therapeutic Areas
Post Market Surveillance
Medical Device Development & Approvals
Clinical and Regulatory Decision-Making

(Note – Other Therapeutic Areas include infectious diseases, musculoskeletal disorders, dermatological diseases, and respiratory diseases)

U.S. RWE Solutions Market, by End User

Pharmaceutical, Biotechnology, and Medical Device Companies
Healthcare Payers
Healthcare Providers
Other End Users

(Note – Other end users include academic research institutions, patient advocacy groups, regulators, and health technology assessment agencies)

U.S. Real World Evidence Solutions Market Report Summary

Report Metrics	Details
Years Considered	2020 - 2029
Base Year	2021
Forecast Period	2022-2029
Page Count	103
Units Referenced	Value (USD Million/Billion)
Segments/Key Topics	Market by Component, Market by Application, Market by End User
Key Companies Mentioned	Anthem, Inc. (U.S.), Clinigen Group plc (U.K.), Cognizant Technology Solutions Corporation (U.S.), IBM Corporation (U.S.), ICON plc (Ireland), IQVIA HOLDINGS INC. (U.S.), Oracle Corporation (U.S.), PAREXEL International Corporation (U.S.), PerkinElmer, Inc. (U.S.), PPD, Inc. (U.S.), SAS Institute Inc. (U.S.), UnitedHealth Group Incorporated (U.S.), and Flatiron Health, Inc. (U.S.)

FAQs About the Report

What is the focus of the U.S. Real World Evidence solutions market?

The U.S. real world evidence (RWE) solutions market covers the market size & forecasts the various real-world evidence solutions offered by key market players to support pharmaceutical, biotechnology, and medical device companies, healthcare payers, healthcare providers, and other end-users in making key decisions majorly related to market access & reimbursement/coverage decisions, drug development & approvals, post-market surveillance, medical device development & approvals. The U.S. real world evidence solutions market studied in this report involves the value analysis of various segments and sub-segments of RWE solutions providers in the U.S.

What is the value of revenue generated from the Real World Evidence solutions in the U.S.? At what rate is their demand expected to grow for the next 5-7 years?

The U.S. real world evidence solutions market is projected to reach $2.22 billion by 2029, at a CAGR of 13.1% during the forecast period.

Which component type is estimated to hold the major share of the market?

Based on component, the datasets segment is expected to account for the largest share of the U.S. real world evidence solutions market in 2022. The large share of this segment is primarily attributed to the increasing need for additional insights on epidemiology, compliance, adherence, and costs in a realistic environment; the growing amount of medical data generated in hospitals; increasing dependence of outcome-based studies on real-world data; and rising demand for information regarding drug safety among payers, regulatory bodies, and providers.

Which application segment of the market is projected to create more traction in the U.S. Real World Evidence solutions market?

The drug development &approvals segment is estimated to register the fastest CAGR during the forecast period due to increasing demand for real-world data and real-world evidence to accelerate drug discovery and development, increasing investments by biopharmaceutical companies in R&D, and the growing inclination of regulatory bodies towards the use of real-world evidence (RWE).

What are the key factors supporting the growth of this market? Also, what are the major opportunities for existing market players and new entrants in the U.S. Real World Evidence solutions market?

Growing incidence of chronic & infectious diseases, delays in drug development and the subsequent increase in development costs, rising focus towards personalized healthcare, a shift from volume to value-based care, and rapidly growing big data in healthcare have been considered to have a positive impact on the U.S. real world evidence solutions market. Further, significant opportunities for existing market players and new entrants are provided by rising focus on end-to-end RWE services, and rising adoption of wearable devices and AI in RWE.

Who are the major players operating in the U.S. Real World Evidence solutions market?

Key companies operating in the U.S. real world evidence solutions market are Anthem, Inc. (U.S.), Clinigen Group plc (U.K.), Cognizant Technology Solutions Corporation (U.S.), IBM Corporation (U.S.), ICON plc (Ireland), IQVIA HOLDINGS INC. (U.S.), Oracle Corporation (U.S.), PAREXEL International Corporation (U.S.), PerkinElmer, Inc. (U.S.), PPD, Inc. (U.S.), SAS Institute Inc. (U.S.), UnitedHealth Group Incorporated (U.S.), and Flatiron Health, Inc. (U.S.).

Sample - U.S. Real-world Evidence (RWE) Solutions Market - Opportunity Analysis and Industry Forecast (2022-2029).pdf