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Real-world Evidence (RWE) Solutions Market is Expected to Grow at a CAGR of 11.7% from 2024 to 2031 to Reach $6.37 Billion by 2031, according to Meticulous Research®. According to this latest publication from Meticulous Research®, the global RWE solutions market is expected to grow at a CAGR of 11.7% from 2024 to 2031 to reach $6.37 billion by 2031. The growth of the RWE solutions market is driven by the growing incidence of chronic diseases, delays in drug development and the consequent increase in development costs, the rising focus on personalized healthcare, a shift toward value-based care, and the growing adoption of real-world evidence solutions in drug development and commercialization. However, reluctance to rely on real-world studies and lack of quality control in data collection restrains market growth.
Emerging economies and a rising focus on end-to-end RWE services are expected to offer lucrative opportunities for the market players. However, the need for standardized methodologies for developing RWE and data privacy and security concerns are major challenges to the market’s growth.
Here are the top 10 companies operating in the Real World Evidence Solutions Market
Founded in 1982 and headquartered in North Carolina, U.S., IQVIA Holdings Inc. provides analytics, technology solutions, and clinical research services to the life sciences industry. The company collects data to provide solutions to healthcare companies. The company operates through three reportable segments: Technology & Analytics Solutions, Research & Development Solutions, and Contract Sales & Medical Solutions.
The company operates in the Real-world Evidence Solutions market through its Technology & Analytics Solutions segment. This segment offers critical information, technology, and real-world solutions and services to life sciences clients, including access to extensive clinical data in oncology, rare diseases, and other specialty areas. Real-world insights comprise post-approval/drug usage studies and disease registries.
The company operates globally in over one hundred countries and major regions, including North America, Asia-Pacific, Europe, the Middle East, and Latin America. Its facilities are located in countries such as the U.S., China, Germany, Poland, the Philippines, Denmark, Romania, Spain, and the U.K., through distributors, subsidiaries, and direct sales.
ICON plc (Ireland)
Incorporated in 1990 and headquartered in Dublin, Ireland, ICON offers clinical development, commercialization, and consulting services to government & public health organizations, pharmaceutical, biotechnology, and medical device firms. The company specializes in strategic development, management, analysis, and programs that support all clinical development stages, from compound selection to phase I–IV clinical studies. Its offerings include clinical research, commercial positioning, consulting, early phase clinical studies, strategic solutions, laboratories, language services, medical imaging, real-world intelligence, and site and patient solutions.
Through its real-world intelligence offering, the company provides services like Real-world Evidence Strategy and analytics, Real-world Evidence and Late-phase Research, and Direct-to-patient Support. The company has a geographic presence across 53 countries, including Ireland, Australia, Japan, Russia, China, India, Canada, U.S., Mexico, Brazil, Peru, Argentina, South Africa, Italy, Germany, France, U.K., Turkey, Sweden, and Spain.
Thermo Fisher Scientific, Inc. (U.S.)
Founded in 1956 and headquartered in Massachusetts, the U.S., Thermo Fisher offers products and services in the pharmaceutical, biotechnology, agricultural, clinical, healthcare, government, and academic sectors. The company operates through four segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products & Biopharma Services. The Laboratory Products & Biopharma Services segment provides virtual solutions for laboratories, allowing businesses to focus on core tasks while reducing laboratory apparatus costs. The segment also includes pharmaceutical and biotechnology business solutions for clinical research, drug development, commercial drug production, and clinical trial services. Thermo Fisher has a geographical presence across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa through its subsidiaries, R&D sites, and distribution network. As of December 2023, the company had a headcount of 122,000 employees, of which 61,000 were employed in the Americas, 20,000 in Asia-Pacific, and 41,000 in Europe and the Middle East & Africa. Some of its major subsidiaries are Thermo Fisher Germany B.V (Netherlands), Thermo Fisher Scientific Inc. (Mexico City) LLC (U.S.), Thermo Fisher Scientific Inc. Oy (Finland), Thermo Fisher Scientific Inc. FLC LLC (U.S.), and Thermo Fisher Scientific Inc. Australia Pty Ltd (Australia).
Hoffmann-La Roche Ltd. (Switzerland)
Founded in 1896 and headquartered in Basel, Switzerland, Roche develops, manufactures, and markets a wide range of healthcare solutions. The company operates through two reportable divisions: Pharmaceuticals and Diagnostics. In vitro diagnostics, molecular diagnostics, clinical chemistry and immunoassays, point-of-care testing, tissue diagnostics, patient self-testing, laboratory automation, IT, and decision-support solutions are just a few of the diagnostic products and solutions that the Diagnostics division develops and offers in the RWE solutions market.
Flatrion Health Inc., a company that offers RWE solutions and maintains offices in the US as well as important international locations like Germany, Japan, and the UK, was acquired by Roche in 2012. Geographically, Roche operates in the U.S., Australia, New Zealand, China, India, Germany, Switzerland, Latin America, and Africa.
Furthermore, the company has 23 manufacturing sites and 29 research and development sites worldwide. Some of its subsidiaries are Roche Diagnostics (U.S.), Roche Diagnostics GmbH (Germany), Roche Diagnostics France SAS (France), Roche Diagnostics S.p.A. (Italy), Roche Diagnostics International AG (Switzerland), Roche Diagnostics Limited (U.K.), Roche Diagnostics (Shanghai) Ltd. (China), and Roche Diagnostics K.K (Japan).
Founded in 1977 and headquartered in California, U.S., Oracle Corporation provides products and services that address all aspects of corporate information technology (IT) environments, including applications, platforms, and infrastructure. The company operates through three business segments: cloud & license, hardware, and services. Through its services segment, Oracle Health Sciences software offers real-world evidence solutions for clinical data managers, biostatisticians, and data scientists.
The company has a strong geographical presence across India, the U.S., Canada, Mexico, Argentina, Brazil, Peru, and Australia. Some of the company’s subsidiaries are Oracle Software Technology GmbH (Switzerland), Oracle Global Partners (Ireland), OCAPAC Holding Company UC (Ireland), OCAPAC research Partner UC (Ireland), Oracle EMEA Holdings Limited (Ireland), Oracle International Group Limited (Isle of Man), Oracle EMEA & CAPAC Holdings Limited (Bermuda), and Oracle International Holdings Limited (Bermuda).
Meticulous Research in its latest publication on Real-world Evidence (RWE) Solutions Market has predicted the growth of 11.7% during the forecast year 2024-2031.
Elevance Health, Inc. (U.S.)
Founded in 1944 and headquartered in Indiana, U.S., Elevance Health, Inc., previously known as Anthem, Inc., delivers health benefit solutions through a broad portfolio of integrated healthcare plans and related services, along with a wide range of specialty products such as life and disability insurance benefits, dental, vision, and behavioral health benefit services, long-term care insurance, and flexible spending accounts. In June 2022, Anthem, Inc. announced the change of its company name to Elevance Health, Inc.
The company manages its operations through four reportable segments: Health Benefits (Commercial & Specialty Business and Government Business), CarelonRx, Carelon Services, and Corporate & Other. Elevance’s wholly-owned health outcomes research subsidiary, HealthCore, Inc. (Carelon Research), operates its business for life science companies, government & academia, and payers & providers in the Real-world Evidence Solutions market. Elevance has a geographical presence across the U.S. and serves more than 107 million people through its affiliated companies. The corporation operates in more than 25 states through its subsidiaries. AIM Specialty Health (U.S.), Aspire Health (U.S.), and Beacon Health Options, Inc. (U.S.) are among the corporation’s subsidiaries.
Founded in 2008 and headquartered in Burton, U.K., Clinigen Group provides medicines. The company operates in two business segments: Products and Services. The Services segment provides real-world evidence solutions designed to capture anonymized data, delivering unique insights into patient diagnosis and treatment within real-world settings.
In April 2022, Triton Triley Bidco Limited (U.K.) announced the acquisition of Clinigen Group plc through a newly-formed entity, Triley Bidco Limited, which is owned by Triton Investments Advisers LLP. The company has a strong geographical presence, with sales, offices, and warehouses in the U.S., UK, Japan, Australia, New Zealand, South Africa, Belgium, Germany, France, and Switzerland.
Cognizant Technology Solutions Corporation (U.S.)
Founded in 1994 and headquartered in New Jersey, U.S., Cognizant Technology provides IT services such as digital business, digital operations, and digital systems & technology. The company offers digital services and solutions, consulting, application development, systems integration, application testing, application maintenance, infrastructure, business process, and healthcare services. The company provides real-world evidence solutions through its Healthcare segment. The four reportable segments of Cognizant are financial services, products and resources, and communications, media and technology. The company provides real-world evidence solutions through its Healthcare segment.
With offices and operations in more than 85 cities, the company has a geographical presence across the U.S., the Philippines, Canada, Mexico, India, Australia, China, Japan, Singapore, Thailand, South Africa, Germany, the U.K., France, Italy, Spain, Sweden, Switzerland, the Netherlands, and Poland.
Founded in 2023 and headquartered in Massachusetts, the U.S., Revvity provides health science solutions, technologies, expertise, and services that offer products, solutions, and services for the life sciences and diagnostics markets. It operates through two reportable business segments: Life Sciences and Diagnostics. The Life Sciences business segment offers RWE solutions. In August 2022, the corporation divested its Applied, Food, and Enterprise Services divisions to private equity firm New Mountain Capital.
The corporation offers its goods and services in more than 160 countries through a network of service workers, sales, and marketing channels spread across more than forty nations.
Some of its subsidiaries are Revvity Global Diagnostics, Inc. (U.S), Revvity Biomed (Shanghai) Co., Ltd., Revvity SAS (France), Revvity Germany Diagnostics GmbH (Germany), Revvity Healthcare (India) Pvt Ltd., Revvity Japan Co. Ltd., Revvity Korea, Ltd., and Nexcelom Bioscience Ltd. (U.K.).
SAS Institute Inc. (U.S.)
Founded in 1976 and headquartered in North Carolina, U.S., SAS Institute Inc. provides analytics, business intelligence, and data management software & services. The company serves its solutions in automotive, capital markets, casinos, communication, healthcare, health insurance, life sciences, and other industry verticals.
The company operates in the global real-world evidence solutions market by offering end-to-end capabilities in data management, cohort extraction, and advanced analytics to generate clinical and scientific evidence. It has a strong geographical presence in 147 countries, including the U.S., Canada, Latin America, Europe, Asia-Pacific, and the Middle East & Africa, with its software being installed in more than 82,000 business, government, and university sites.
Authoritative Research on the Real-world Evidence (RWE) Solutions Market – Global Opportunity Analysis and Industry Forecast (2024-2031)
Need more information? Meticulous Research®’s new report covers each of these companies in much more detail, providing analysis on the following:
- Recent financial performance
- Key products
- Significant company strategies
- Partnerships and acquisitions
The Comprehensive report provides global market size estimates, market share analysis, revenue numbers, and coverage of key issues and trends.
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