Real World Evidence Analytics Market Size, Share, Growth Analysis, By End user(Pharmaceutical, Biotechnology, Medical Device Companies, Healthcare Payers), By Application(Market Access & Reimbursement, Drug Development & Approval, Post Market Surveillance, Medical Device Development), By Therapeutic Area(Oncology, Cardiovascular, Neurology, Immunology), By Region - Industry Forecast 2024-2031

Global Real World Evidence Analytics Market size was valued at USD 2.26 billion in 2019 and is poised to grow from USD 2.45 billion in 2023 to USD 4.97 billion by 2031, growing at a CAGR of 8.2% in the forecast period (2024-2031).

For a variety of applications, including market access reimbursement/coverage decisions, drug development approvals, post-market surveillance, medical device development approvals, and clinical regulatory decision-making, the report examines various RWE analytics solutions provided by leading companies. Many different end users, including pharmaceutical, biotechnology, and medical device businesses, healthcare payers, and healthcare providers, employ these solutions. The key factors driving the expansion of the RWE analytics market are the rapidly expanding big data in healthcare, the transition from volume to value-based care, and an increasing emphasis on individualised healthcare.

The requirement for integrating the appropriate technology for the implementation of the RWE programme is increasing as a result of the continual development in data variety, volume, and speed as well as the requirement for rapid delivery of insights drawn from that data. The speed, flexibility, security, and scalability that cloud technologies offer have led many medical sciences organisations to adopt them. RWE analytics can gain from a variety of benefits from cloud technologies. These include security, which helps in securing patient-level data even in a de-identified state, and speed, which helps scale-up cloud-based analytics quickly, which helps as the data volume expands.

US Real World Evidence Analytics Market is poised to grow at a sustainable CAGR for the next forecast year.