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The global Real World Evidence Solutions Market size is projected to reach $5 billion by 2031, growing at a CAGR of 13.7% from 2022 to 2031.
PORTLAND, OREGON, UNITED STATES, March 18, 2023 /einpresswire.com / -- Real-world evidence (RWE) is a term used to describe data collected from sources outside of traditional clinical trials, such as electronic health records, claims databases, and patient-generated data. The use of RWE is becoming increasingly important in healthcare decision-making, as it can provide valuable insights into how drugs and medical devices perform in real-world settings. A Real World Evidence solution is a system that leverages advanced data analytics and machine learning algorithms to extract meaningful insights from RWE. These solutions can be used by healthcare providers, payers, and pharmaceutical companies to improve patient outcomes, optimize healthcare delivery, and inform regulatory decisions. The global real world evidence solutions market size was valued at $1.4 billion in 2021, and is projected to reach $5 billion by 2031, growing at a CAGR of 13.7% from 2022 to 2031.
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Further, North America is expected to witness highest growth, in terms of revenue, owing to the increase in demand for real-world evidence-based solutions or services, the shift toward value-based care instead of volume and rise in adoption of various strategies by key players for product development in the region are the factors that propel the growth of the market.
Major market players covered in the report, such as -
Clinigen Group PLC,
Cognizant Technology Solution Corporation,
Elevance Health Inc,
Medpace Holding Corporation,
Parexel International Corporation,
Perkin Elmer Inc,
SAS Institute Inc,
Symphony Innovation LLC, and
Syneos Health Inc.
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Key Benefits for Stakeholders -
. The report provides quantitative analysis of market segments, current trends, strategies and potential of Real World Evidence Solutions Market research to identify potential Real World Evidence Solutions Market opportunities in genetics.
. In-depth analysis of this sector helps identify current market opportunities.
. Market analysis and information related to key drivers, restraints and opportunities are provided. . Porter's Five Forces Analysis identifies the capabilities of buyers and suppliers to enable stakeholders to make profitable business decisions and strengthen the network of buyers.
. The largest countries in each region are listed according to their contribution to the global market.
. Focusing on market players makes benchmarking easier and provides a clear understanding of the current market situation.
. The report includes regional and global Real World Evidence Solutions Market analysis, key players, market segments, application areas and Market growth strategies.
Some of the key features of a Real World Evidence solution include:
1.Data integration: RWE is often scattered across different sources and formats. A Real World Evidence solution should be able to integrate data from various sources and harmonize it into a consistent format.
2.Advanced analytics: A Real World Evidence solution should have the ability to apply advanced analytics techniques such as machine learning, natural language processing, and predictive modeling to extract meaningful insights from the data.
3.Visualization: The insights generated by a Real World Evidence solution should be presented in a way that is easy to understand and interpret. Visualization tools such as dashboards and reports can be used to provide stakeholders with a clear understanding of the data.
4.Compliance: A Real World Evidence solution should comply with regulatory requirements such as HIPAA and GDPR to ensure the privacy and security of patient data.
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