With the growing need to achieve better value for healthcare, the importance of real-world evidence (RWE) as a decision-making tool and an important part of drug development and commercialization has also raised. Pharma and biopharma companies now recognize the need to get a better understanding and stronger evidence of product performance, clinical value and cost effectiveness outside the controlled environment and homogeneous setting of a clinical trial i.e. Randomized Clinical Trials (RCT) to inform decision making processes.
The global real world evidence solutions market is expected to reach $1.64 billion by 2024 from an estimated $0.87 billion in 2019, at a CAGR of 15.0% from 2019 to 2024.
Here are the Top 10 Companies in Real World Evidence Solutions :
Founded in 2004 and headquartered at Indianapolis, U.S.; Anthem, Inc. is engaged in delivering health benefit solutions through a broad portfolio of integrated health care plans and related services, along with a wide range of specialty products such as life and disability insurance benefits, dental, vision, behavioral health benefit services, as well as long term care insurance and flexible spending accounts. The company operates through three reportable segments namely, Commercial & Specialty Business, Government Business and Other.
The company offers and generates consistent and actionable evidence to support decision making while helping to guide fresh initiatives for a range of stakeholders in the healthcare industry through wholly-owned health outcomes research subsidiary, HealthCore, Inc. HealthCore, Inc. operates through three divisions namely, life science companies, government & academia, and payers & providers.
Anthem, Inc. has its geographic presence across the U.S. including California, Colorado, Connecticut, Georgia, Indiana, Kentucky, Maine, Missouri, Nevada, New Hampshire, New York, Ohio, Virginia and Wisconsin among others.
Clinigen Group plc
Founded in 2010 and headquartered at Burton, U.K.; Clinigen Group plc is engaged in providing access to medicines to improve the quality of people’s lives around the world. The company operates in three business segments namely, Clinical Trial Services (‗CTS‘), Unlicensed Medicines, and Commercial Medicines. The unlicensed medicines segment offers real world evidence solutions and service to capture anonymized data that can help gain unique insights into how patients are diagnosed and treated in a real-world setting.
The company has a strong geographic presence across Europe, U.S and other countries outside them.
Cognizant Technology Solutions Corporation
Founded in 1994 and headquartered in Teaneck, New Jersey, U.S.; Cognizant Technology Solutions Corporation provides IT services including digital business, digital operations, and digital systems & technology. The company offers real world evidence solutions through Cognizant BigDecisions via BizApps.
The global presence of the company is seen in North America, Europe, Asia-Pacific, Latin America and Middle East & Africa.
International Business Machines (IBM) Corporation
Founded in 1911 and headquartered at New York, U.S; International Business Machines (IBM) Corporation empower leaders, advocates and influencers in solving the world‘s biggest health challenges. The company operates through five business segments – Cognitive Solutions, Global Business Services, Technology Services & Cloud Platforms, Systems and Global Financing. Global Business Services has several IBM units such as IBM Watson, IBM Cloud, IBM Research, and Global Technology Services. IBM Watson is a leading provider of innovative cognitive, analytics, security and cloud technology in comprehensive industry-specific platforms to remove much of the cost and complexity of delivering core business functions. Watson for real world evidence is a cloud-based solution that allows users to explore, analyze, visualize, and share real world outcomes on healthcare data from proprietary datasets.
The Company has a strong geographical presence across Americas, Europe, Middle East & Africa, and Asia-Pacific.
ICON Public Limited
Founded in 1990 and headquartered at Dublin, Ireland; ICON public limited company provides outsourced development services on a global basis to the pharmaceutical, biotechnology and medical device industries. In July 2017, a subsidiary of the company, ICON Clinical Research Limited acquired Mapi Group which is a leading patient-centered health outcomes research and commercialization company.
The company has a strong geographic presence across North America, Europe, Asia-Pacific Ireland, and other countries.
A report into the projected growth of the current Real-World Evidence (RWE) solutions market by Meticulous Research® has produced some incredible forecasts for the industry. By 2024, it’s expected to have grown at a CAGR of 15%, reaching over $ 1.64 billion.
Quintiles IMS Holdings, Inc.
Founded in 1982 and headquartered at Durham, North Carolina; Quintiles IMS Holdings, Inc. operates in three business segments namely, Commercial Solutions, Research & Development Solutions, and Integrated Engagement Services. The Commercial Solutions segment provides information, real-world insights, technology solutions, workflow analytics, and consulting. The real-world insights provide post approval/ drug utilization studies and disease registries. In October 2016, Quintiles Transnational Holdings Inc. merged with IMS Health Holdings, Inc. and changed its name to Quintiles IMS Holdings, Inc. Further, QuintilesIMS changed its name to IQVIA, a company dedicated to using analytics and science to help healthcare stakeholders find better solutions for their patients, effective November 6, 2017. As of December 2017, the company had more than 55,000 employees all over the world.
The Company has its geographic presence across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
Founded in 1977 and headquartered at Minnesota, U.S.; UnitedHealth Group is a diversified healthcare company with four reportable segments across two business platforms, namely, UnitedHealthcare (health benefits) and Optum (health services). Optum segment have dedicated units that help improve overall health system performance through optimizing care quality, reducing costs and improving consumer experience and care provider performance, leveraging distinctive capabilities in data and analytics, pharmacy care services, population health, health care delivery and health care operations. Optum operates through three business segments, namely, OptumHealth, OptumInsight, and OptumRx. Optum offersreal-world data health analytics platform and consulting services.
As of December 2017, the company had a headcount of 260,000 employees and has a strong geographical presence in North America, Europe, Asia-Pacific, Latin America and Middle East & Africa.
Founded in 1977 and headquartered at California, U.S.; Oracle Corporation is engaged in providing products and services that address all aspects of corporate information technology (IT) environments—applications, platform and infrastructure. The company operates through three business segments-Cloud and license, Hardware, and Services. The services segment provides services to customers and partners to help maximize the performance of their investments in Oracle applications, platform and infrastructure technologies. Oracle serves its products across various industry verticals namely, aerospace & defense, automotive chemicals, communication, hospitality, healthcare, and life sciences among others. Oracle Health Sciences offers real world evidence solutions for clinical data managers, biostatisticians, and data scientists.
With its subsidiaries and strong network of distribution, the company has its presence in North America, Europe, Asia-Pacific, Latin America and Middle East & Africa.
PAREXEL International Corporation
Founded in 1982 and headquartered at Waltham, Massachusetts, U.S.; PAREXEL International Corporation is engaged in providing clinical research and logistics, medical communications, consulting, commercialization, and advanced technology products and services for pharmaceutical, biotechnology, and medical device industries worldwide. The company operates in three business segments namely, clinical research services, Parexel consulting services, and Parexel informatics.
The access unit ofclinical research services provide Real World Evidence solutions. The company has a strong geographic presence across North America, South America, Europe, Asia, and Middle East & Africa.
Founded in 1947 and headquartered at Waltham, Massachusetts; PerkinElmer, Inc. is engaged in providing products, services and solutions for the diagnostics, food, environmental, industrial, life sciences research and laboratory services markets. The company operates in two business segments namely, discovery & analytical solutions and diagnostics. The discovery & analytical solutions segment offers products and services for different markets such as environmental, food, industrial, life sciences research, and laboratory services among others. The real-world evidence solution is offered through informatics segment in life science research market.
The company has a strong geographic presence across U.S., China, U.K., Germany, India, Italy, France, Japan and others.
Popular Mentions: Pharmaceutical Product Development, LLC, SAS Institute Inc., and Syneos Health, Inc.
Authoritative Research on the Real-World Evidence (RWE) solutions market – Global Opportunity Analysis and Industry Forecast (2019-2024)
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- 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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