The growth of this market is majorly driven by the rising geriatric population (and the subsequent increase in the prevalence of chronic diseases), shift from volume- to value-based care, and delays in drug development (and the subsequent increase in development costs).
The Real World Evidence Solutions market is projected to reach USD 1,348.1 million by 2023 from USD 689.9 million in 2018, at a CAGR of 14.3%.
+ Market Dynamics
+ Rising Geriatric Population and the Subsequent Increase in the Prevalence of Chronic Diseases
+ Shift From Volume- to Value-Based Care
+ Delays in Drug Development and the Subsequent Increase in Development Costs
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“By component, the data sets segment accounted for the largest share of the real world evidence market in 2017”
The data sets segment accounted for the largest share of the global real world evidence market. The large share can be attributed to factors such as easy availability of massive amounts of data, increasing dependence of outcome-based studies on real-world data, and rising demand for information by payers and providers regarding drug safety.
“By therapeutic area, the oncology segment held the largest market share of the real world evidence market in 2017”
The oncology segment accounted for the largest share of the real-world evidence market in 2017. The large share of this segment can be attributed to the high number of clinical trials conducted for oncology and the rising prevalence of cancer worldwide.
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