The use of computers, mobile devices, wearables, and other biosensors to gather and store huge amounts of health-related data has been rapidly accelerating. This data holds the potential to enable better designs and conduct clinical trials and studies in the health care setting to answer questions previously thought infeasible.
Real-world evidence, molecular information generated from next-generation sequencing, data from wearable devices and mobile apps, and novel clinical trials are transforming the future of healthcare. The role of wearable devices is also emerging in the collection of real-world data. Wearable devices are clinically useful for better monitoring real-time, long-term, and dynamic & pathological processes. These devices conveniently manage chronic illnesses, such as cardiovascular diseases, sleep disorders, and cognitive impairment. In recent years, there has been a growing adoption of health and wellness devices to track fitness activities, sleeping habits, body temperature, and heart rate.
The RWE Solutions Market is expected to grow at a CAGR of 11.8% from 2021 to 2028 to reach $4.4 billion by 2028.
Here are the Top 10 Companies in Real World Evidence Solutions Market
IQVIA HOLDINGS INC.
IQVIA is a provider of advanced analytics, technology solutions, and contract research services to the life sciences industry. In October 2016, Quintiles Transnational Holdings Inc. merged with IMS Health Holdings, Inc. and changed its name to Quintiles IMS Holdings, Inc. Further, QuintilesIMS was renamed IQVIA on November 6, 2017, helping healthcare stakeholders find clinical and analytical solutions for their patients through analytics and science.
The company operates through three major business segments: Technology & Analytics Solutions, Research & Development Solutions, and Contract Sales & Medical Solutions. The Technology & Analytics Solutions segment provides critical information, technology solutions, and real-world solutions and services to life science clients. The segment specializes in providing access to deep clinical data in oncology, rare disease, and other specialty areas. The real-world insights provide post-approval/ drug utilization studies and disease registries.
The company has a direct presence through its offices across Buenos Aires, Argentina; Caracas, Venezuela; Los Ruices, Venezuela; and Bangalore, India and has approximately 262 offices in 82 countries. The company’s end users include life sciences companies, including pharmaceutical companies, biotechnology companies, devices, diagnostic companies, and consumer health companies.
ICON provides consulting, clinical development, and commercialization services to pharmaceutical, biotechnology, medical device, and government and public health organizations. The group specializes in the strategic development, management, analysis, and programs that support all clinical development stages from compound selection to Phase I-IV clinical studies. The company works with biopharmaceutical and medical device companies to identify, generate, and communicate the clinical, safety, and cost-effectiveness evidence that regulators, payers, and providers demand in the real-world evidence solutions market.
The company has a direct geographic presence through 93 locations across 41 countries, including Ireland, Australia, Japan, Russia, China, India, Canada, the U.S., Mexico, Brazil, Peru, Argentina, South Africa, Italy, Germany, France, the U.K., Turkey, Sweden, Spain, and other countries.
Founded in 1985 and headquartered in North Carolina, U.S., PPD is engaged in providing integrated drug development, laboratory, and management lifecycle services to the biopharmaceutical industry. The company operates in two reportable segments: Clinical Development Services and Laboratory Services. The company operates in the real-world evidence solutions market through its pre-and post-approval services subsegment (a part of the Clinical Development Services segment). As a global CRO, the company resources assist in advancing the drug development program and design protocol for post-approval, real-world patient observation leading to new ideas and products. The company offers RWE services to pharmaceutical, biotech, medical device companies, academic, government, and public health organizations. The company’s real-world evidence services are mainly for hematology/oncology and chronic conditions, immuno-oncology, cell and gene therapy, biomarkers, and rare diseases.
The company has a direct presence through offices, clinics, and labs across the U.K., the U.S., Bulgaria, the Philippines, Mexico, Australia, China, and India. The company operates in the real-world evidence solutions market through its subsidiary Evidera (U.S.)
SYNEOS HEALTH, INC.
SYNEOS HEALTH, INC. is a biopharmaceutical solutions organization that offers clinical and commercial services to the biotechnology, pharmaceutical, and healthcare industries. The company provides integrated and stand-alone biopharmaceutical product development solutions ranging from early-phase (Phase-I) clinical trials to the commercialization of healthcare products. The company has two business segments—Commercial Solutions and Clinical Solutions and operates in the real-world evidence solutions market through its Clinical Solutions segment, which offers solutions for clinical development processes.
The company has a geographic presence in the U.S., India, Mexico, Germany, Canada, Japan, and Australia. The company has 130 facilities located across over 49 countries.
CLARIVATE PLC provides information services and analytics for the intellectual property, scientific research, and life sciences end-markets. The company’s solutions and services are used for the protection, discovery, and commercialization of innovations, scientific research, and brands. The company operates its business through two major segments—Intellectual Property and Science. The Science segment offers high-value, curated, and structured information for the research and life sciences industries. The company operates in the RWE solutions market through its Science segment.
Through its facilities, the company has a direct presence in the U.S., India, the U.K., Spain, Japan, Belgium, and China. The company has a geographic presence in more than 40 countries globally. The company employs partners and sales and marketing professionals to sell its solutions and services.
Medpace Holdings, Inc.
Medpace Holdings, Inc. is a clinical contract research organization that provides scientifically-driven outsourced clinical development services to the pharmaceutical, biotechnology, and medical device industries. The company provides its services to enable the development of effective and safe therapeutics. The company’s solutions are focused exclusively on the management, development, and execution of clinical trials; therefore, it operates through only one reportable segment.
Through its facilities, the company has its direct presence in the U.S., South Africa, Australia, China, South Korea, Germany, the U.K., Brazil, and Israel.
A report into the projected growth of the current Real World Evidence Solutions Market by Meticulous Research® has produced some incredible forecasts for the industry. By 2028, it’s expected to have grown at a CAGR of 11.8%, reaching over $4.4 billion.
Symphony Innovation, LLC.
Symphony Innovation, LLC, is an enterprise AI company that, provides AI solutions to the retail, consumer packaged goods (CPG), industrial manufacturing, media, and other industries. The company through its subsidiary ConcertAI (U.S.) operates in the RWE solutions market. ConcertAI provides RWE and AI solutions to the healthcare industries. The solutions of the company are developed using the SaaS software. .ConcertAI has its facilities located in the U.S. and India.
Clinigen Group PLC
Clinigen Group is engaged in providing medicines. The company operates in two business segments: Products and Services. The Services segment offers real-world evidence solutions and services to capture anonymized data to gain unique insights into how patients are diagnosed and treated in a real-world setting.
The company has a strong geographic presence through sales, offices, and warehouses across the U.S, the U.K., Japan, Australia, New Zealand, South Africa, and Belgium, Germany, France, and Switzerland.
Cognizant Technology Solutions Corporation
Cognizant Technology provides IT services, including 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 services, and business process services. The company operates through four reportable segments: Financial Services, Healthcare, Products and Resources, and Communications, Media and Technology. The company provides real-world evidence solutions through its Healthcare segment.
Its global presence is seen through its offices and operations in more than 85 cities in 35 countries worldwide. The company has a direct presence through offices and sales 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. As of December 2020, the company had a headcount of 289,500 employees, with approximately 43,500 in North America, 20,200 in Europe, 204,500 in India, and 225,800 in the rest of the world.
International Business Machines (IBM) Corporation
International Business Machines Corporation (IBM) provides a wide range of consulting and IT implementation services, cloud, digital and cognitive offerings, and enterprise systems and software. The company operates through five key business segments: Cloud & Cognitive Software, Global Business Services, Global Technology Services, Systems, and Global Financing. The Global Business Services segment provides clients with consulting, business processes, and application management services and 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. IBM Watson offers a cloud-based solution that allows users to explore, analyze, visualize, and share real-world outcomes on healthcare data from proprietary datasets in the real-world evidence solutions market. IBM has a global presence, operating in more than 175 countries with a broad-based geographic revenue distribution. The company had a presence through its sales, distribution, business channels, and service offerings across India, France, Brazil, China, Canada, U.S., Germany, the U.K., Italy, Australia, the Middle East, and Africa.
Popular Mentions: SAS Institute Inc., UnitedHealth Group Incorporated, Oracle Corporation, PAREXEL International Corporation, PerkinElmer, Inc., and Flatiron Health
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Authoritative Research on the Real World Evidence Solutions Market – Global Opportunity Analysis and Industry Forecast (2021-2028)
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