Real World Evidence Analytics Market Regional Analysis

Global Real World Evidence Analytics Market size was valued at USD 2.4 billion in 2023 and is poised to grow from USD 2.59 billion in 2024 to USD 4.84 billion by 2032, growing at a CAGR of 8.1% during the forecast period (2025-2032).

Global Real World Evidence Analytics Market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'IQVIA Inc. (US) ', 'Optum, Inc. (US) ', 'IBM Corporation (US) ', 'Parexel International Corporation (US) ', 'Cognizant Technology Solutions Corporation (US) ', 'Oracle Corporation (US) ', 'Clinigen Group PLC (UK) ', 'SAS Institute Inc. (US) ', 'PPD, Inc. (US) ', 'Syneos Health, Inc. (US) ', 'Anthem, Inc. (US) ', 'Change Healthcare Inc. (US) ', 'Evidera, Inc. (US) ', 'ICON plc (Ireland) ', 'Flatiron Health, Inc. (US) ', 'HealthVerity, Inc. (US) ', 'Phesi Inc. (US) ', 'Aetion, Inc. (US) ', 'Medidata Solutions (US) ', 'Clarify Health Solutions (US)'

Rising geriatric population (and the subsequent increase in the prevalence of chronic diseases) is a key factor driving the growth of the market. The shift from volume- to value-based care, delays in drug development (and the subsequent increase in development costs), growth in R&D spending, and support from regulatory bodies for the use of RWE solutions are some of the other major factors that are driving the growth of this market.

Introduction of AI to Surge Market Growth: Real-world data (RWD) uses artificial intelligence (AI) to improve data standards, quality control, and anomaly identification at the pre-processing stage. Al is anticipated to give pharmaceutical and biotechnology organisations the capacity to boost meaningful RWE output, shorten time to insights, and make the most of the numerous data sources at their disposal. An unrivalled chance to benefit from these computing improvements is provided by RWE technology platforms that give smart data processing, analysis, and outcomes. Al innovations can improve drug research, patient care & access, and valuable promote new business prospects when implemented as a part of a holistic RWE strategy.

North America dominated the market in 2021. Some of the key factors anticipated to propel the growth of this market include the rising prevalence of chronic diseases in the elderly population, a move toward value-based care, an increase in personalised healthcare, the availability of electronic datasets, a well-established healthcare industry, and the growth of big data in the healthcare sector.