By Component
- Data Sets
- Clinical Settings Data
- Claims Data
- Pharmacy Data
- Patient-Powered Data
- Services
By Therapeutic area
- Oncology
- Cardiovascular Disease
- Neurology
- Immunology
- Others
By Application
By End User
- Pharmaceutical and Biopharmaceutical Companies
- Healthcare Payers
- Healthcare Providers
- Other End Users
By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
The market is divided into component, Therapeutic area, end user and region. The component segment is fragmented into data sets and consulting. The data sets segment is fragmented into disparate data sets and integrated data sets. The data sets segment is predicted to hold the largest real-world evidence solutions market share owing to an increase in the amount of medical data that is generated in hospitals, rising dependence of studies based on outcomes on the basis of real world data, increased insistence for regulatory providers and bodies and payer information pertaining to drug safety. The application segment is categorised into oncology, CVD, neurology, infection, drug development and regulatory. The drug development and approvals segment dominated the market, and this can be credited to surging demand of RWE and RWD to boost the drug development and discovery, rising investments made by the biopharma companies in research and development activities. The end user segment is fragmented into pharmaceutical and biopharma companies, healthcare payers, healthcare providers and other end users. The pharmaceutical and biopharma companies lead the market, and this can be credited to the rising importance of studies pertaining to RWE in drug approvals and development, increased emphasis in avoiding expensive drug recalls.
The North America region is predicted to dominate the market and this can be credited to the availability of data sets that are real-world, rising emphasis on care based on values, increased expenditure on research and development by biopharma companies, increased focus on early device and drug approvals and development and a strong presence of key market players in the region. Furthermore, strict rules and regulation for approving drugs and bolstering policies of the government.