Real World Evidence Solutions Market

The study involved five major activities to estimate the current size of the Real-World Evidence Solution market. Exhaustive secondary research was done to collect information on the market and its different subsegments. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation procedures were used to estimate the market size of the segments and subsegments.

Secondary Research

In the secondary research process, various secondary sources such as annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, gold-standard & silver-standard websites, regulatory bodies, and databases (such as D&B Hoovers, Bloomberg Business, and Factiva) were referred to in order to identify and collect information for the study of Real-World Evidence Solution Market. It was also used to obtain important information about the top players, market classification, and segmentation according to industry trends to the bottom-most level, geographic markets, and key developments related to the market. A database of the key industry leaders was also prepared using secondary research.

Primary Research

In the primary research process, various supply side and demand side sources were interviewed to obtain qualitative and quantitative information for this report. Primary sources from the supply side included industry experts such as CEOs, vice presidents, marketing and sales directors, technology & innovation directors, biostatisticians, and related key executives from various companies and organizations operating in the Real-World Evidence Solution market. Primary sources from the demand side included industry experts, such as directors of pharmaceutical, biopharmaceuticals, and medical device companies, contract manufacturing organizations, directors of RWE vendor companies, directors of clinical research organizations, and other related key executives.

The following is a breakdown of the primary respondents:

Breakdown of Primary Participants:

Note 1: Others include sales managers, marketing managers, and product managers.

Note 2: Tiers of companies are defined on the basis of their total revenues in 2023. Tier 1 = >USD 1 billion, Tier 2 = USD 500 million to USD 1 billion, and Tier 3 = <USD 500 million.

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Market Size Estimation

Both top-down and bottom-up approaches were used to estimate and validate the total size of the Real-World Evidence Solution market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

• The key players in the industry and markets have been identified through extensive secondary research.
• The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
• All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Global Real-World Evidence Solution Market Size: Bottom-Up Approach

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Global Real-World Evidence Solution Market Size: Top-Down Approach

Data Triangulation

After arriving at the overall market size—using the market size estimation processes—the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and sub-segment, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the Real-World Evidence Solution Market.

Market Definition:

Real-world evidence comprises clinical evidence generated through the analysis of real-world data (RWD) pertaining to the utilization, as well as the potential advantages or risks, of medical products. RWD is specifically described as data originating from diverse sources linked to results within a varied patient population in real-world environments.

Key Stakeholders

• Original Equipment manufacturers
• Pharmaceutical and biotechnology companies
• Medical device companies
• Clinical laboratories
• Contract research organizations
• Medical device research and consulting firms
• Academic and research institutes
• Government associations
• Market research and consulting firms
• Venture capitalists and investors
• Hospitals and clinics
• Insurers
• Academic medical centers
• Government research organizations
• Contract and research organizations
• Regulatory agencies.

Report Objectives

• To define, describe, and forecast the global Real-World Evidence Solution market on the basis of components, application, end user, and region.
• To provide detailed information regarding the major factors influencing the market growth (such as drivers, opportunities, and challenges)
• To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and contributions to the overall market
• To analyze the opportunities in the market for stakeholders and to provide details of the competitive landscape for market leaders.
• To forecast the size of the market segments with respect to five main regions, namely, North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. (along with major countries in these regions)
• To profile the key players and comprehensively analyze their market shares and core competencies in the RWE solutions market.
• To track and analyze competitive developments such as business expansions, partnerships, agreements, and collaborations; mergers& acquisitions; and new product/service launches in the global RWE solutions market.

Available Customizations:

With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:

• Product Analysis: Product matrix, which gives a detailed comparison of the product portfolios of each company.
• Geographic Analysis:  Further breakdown of the Latin American Real-World Evidence Solution into specific countries and, the Middle East, and Africa Real-World Evidence Solution into specific countries and further breakdown of the European Real-World Evidence Solution into specific countries