Real World Evidence Market is predicted to reach USD 9.2 billion at a CAGR of 17.20% during the forecast period 2023-2032

Market Research Future (MRFR) has published on the “Global Real World Evidence Market”.

The Real-World Evidence market is estimated to register a CAGR of 17.20% during the forecast period of 2024 to 2032.

MRFR recognizes the following companies as the key players in the global Real-World Evidence market— IQVIA, Optum, IBM Watson Health, Cerner Corporation, SAS Institute Inc., Oracle Corporation, Syneos Health, Flatiron Health, Palantir Technologies and Clinithink.

Market Highlights

The global Real-World Evidence market is accounted to register a CAGR of 17.20% during the forecast period and is estimated to reach USD 9.2 billion by 2032.

The Real-World Evidence (RWE) market is experiencing growth due to its increasing importance in healthcare decision-making. RWE provides insights into the real-world effectiveness and safety of medical treatments, complementing traditional clinical trial data. As regulators and payers emphasize evidence-based medicine and value-based healthcare, demand for RWE solutions rises. Moreover, advancements in data analytics technologies and the availability of large-scale healthcare databases further drive the expansion of the RWE market.

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Segment Analysis

The global Real-World Evidence market has been segmented based on Components, Application, Mode of Deployment, Revenue Model and End User.

On the basis of Components, the market is segmented into Services, Data sets {Disparate Data Sets (Clinical Setting Data Sets, Claims Data Set, Pharmacy Data Set, Patient-powered Data Set, Registry-Based Data Sets}, Integrated Data sets. In 2023, the Services segment dominated the market due to their integral role in delivering comprehensive and tailored solutions to address diverse customer needs. These components encompass a range of services, including data collection, analysis, interpretation, and consulting, designed to generate actionable insights from real-world data.

Based on application, the global Real-World Evidence market has been segmented into Drug Development and Approvals (Oncology, Cardiovascular Disease, Neurology, Immunology, Other therapeutic areas), Medical Device Development and Approvals, Post-Market Surveillance, Market Access and Reimbursement Coverage Decision Making and Clinical, Clinical and Regulatory Decision Making and Others. The Drug Development and Approvals application emerged as the dominant segment in the Real-World Evidence (RWE) Market due to its critical role in accelerating drug development processes and supporting regulatory submissions. These solutions offer robust data analytics capabilities, aiding in safety monitoring, efficacy assessment, and comparative effectiveness studies, thus driving their widespread adoption and largest market share in 2023.

Based on Mode of Deployment, the global Real-World Evidence market has been segmented as On-premises and Cloud Based. The On-premises Mode of Deployment dominated the Real-World Evidence (RWE) Market due to its perceived advantages in data security, control, and compliance with regulatory requirements. Healthcare organizations often opt for on-premises solutions to retain full control over their data and infrastructure. Additionally, concerns regarding data privacy and regulatory restrictions contribute to the preference for on-premises deployment, leading to its largest market share in 2023.

Based on Revenue Model, the global Real-World Evidence market has been segmented into Pay Per Usage (Value-Based Pricing) and Subscription. The Pay Per Usage Revenue Model emerged as the dominant model in the Real-World Evidence (RWE) Market due to its flexibility and cost-effectiveness. This model allows organizations to pay based on the actual usage of RWE solutions, aligning costs with value obtained. Additionally, it reduces upfront financial commitments and enables scalability, driving its widespread adoption and largest market share in 2023.

Based on End user, the global Real-World Evidence market has been segmented into Pharmaceutical & Medical Device Companies, Healthcare Payers, Healthcare Providers and Other End Users. Pharmaceutical and medical device companies lead the real-world evidence market due to their substantial resources for research, vast data from clinical trials, and increasing regulatory demand for real-world evidence. Their established networks also facilitate data access and analysis, solidifying their market dominance and driving its widespread adoption and largest market share in 2023.

Regional Analysis

The global Real-World Evidence market, based on region, has been divided into North America, Europe, Asia-Pacific, and Rest of the World. North America consists of the US and Canada. The Europe Real-World Evidence market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Real-World Evidence market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Real-World Evidence market comprises the Middle East, Africa, and Latin America.

North America dominates the Real-World Evidence (RWE) Market due to several key factors. The region boasts a mature healthcare system, extensive adoption of electronic health records, and robust regulatory frameworks that support the collection and utilization of real-world data. Moreover, North America is home to numerous pharmaceutical and biotechnology companies, research institutions, and healthcare providers actively leveraging RWE for drug development, regulatory decision-making, and healthcare policy formulation, consolidating its position as the market leader.

Europe secures the second largest market share in the Real-World Evidence (RWE) Market due to various factors. The region benefits from a well-established healthcare infrastructure, extensive electronic health record systems, and a supportive regulatory environment for real-world data utilization. Moreover, Europe's diverse patient populations, strong research capabilities, and collaborations between industry stakeholders and academia contribute to the widespread adoption of RWE across the region, solidifying its position as a key player in the market.

Asia Pacific experiences the highest Compound Annual Growth Rate (CAGR) in the Real-World Evidence (RWE) Market due to several factors. The region witnesses rapid economic growth, increasing healthcare expenditure, and a growing emphasis on evidence-based medicine. Additionally, the diversity of healthcare systems and patient populations presents ample opportunities for RWE adoption. Moreover, government initiatives promoting healthcare digitization and collaborations between industry stakeholders drive the significant growth of the RWE market in Asia Pacific.

Furthermore, the rest of the world's Real-World Evidence market is divided into the Middle East, Africa, and Latin America. The Rest of the World region is experiencing growth in the Real-World Evidence (RWE) market due to increasing healthcare investments, expanding adoption of evidence-based medicine practices, and rising demand for RWE solutions to support regulatory submissions and healthcare decision-making processes, driving market expansion beyond traditional regions.

Key Findings of the Study

• The global Real-World Evidence market is expected to reach USD 9.2 billion by 2032, at a CAGR of 17.20% during the forecast period.


• The Asia Pacific region leads as the fastest-growing region in the Real-World Evidence (RWE) market due to rapid economic development, increasing healthcare expenditure, rising prevalence of chronic diseases, and expanding adoption of evidence-based medicine practices.


• Based on Mode of Deployment, the On-premises segment was attributed to holding the largest market in 2023, with an approximate market share of 60–80%.


• IQVIA, Optum, IBM Watson Health, Cerner Corporation, SAS Institute Inc., Oracle Corporation, Syneos Health, Flatiron Health, Palantir Technologies and Clinithink are the key market players.