Real-world evidence (RWE) is clinical evidence gathered via RWD analysis on a medical product’s use and potential benefits or risks. RWE can be produced through various study designs or analyses, including but not limited to randomized trials, large simple trials, pragmatic trials, and observational studies (prospective or retrospective). The role of RWE in drug development is expanding as RWE studies are significantly less expensive and time-consuming than RCTs, providing easier access to long-term effectiveness data and helping overcome some of the feasibility barriers of running RCTs.
RWE is regularly utilized in the drug development & approval process to inform aspects of drug development, such as the natural history and epidemiology of a disease, and provide data on treatment pathways and comparator interventions in clinical practice.
The U.S. RWE Solutions Market is expected to grow at a CAGR of 13.0% from 2021 to 2028 to reach $2.01 billion by 2028.
Here are the Top 10 Companies in U.S.Real World Evidence Solutions Market
IQVIA HOLDINGS INC.
IQVIA provides 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 diseases, and other specialty areas. The real-world insights provide post-approval/drug utilization studies and disease registries. The company has a direct presence across Buenos Aires (Argentina), Caracas (Venezuela), Los Ruices (Venezuela), and Bangalore (India) through its offices 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 provides 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 mainly cover hematology/oncology and chronic conditions, immuno-oncology, cell and gene therapy, biomarkers, and rare diseases. The company has a direct presence across the U.K., the U.S., Bulgaria, the Philippines, Mexico, Australia, China, and India, through its offices, clinics, and labs. The company operates in the real-world evidence solutions market through its subsidiary Evidera (U.S.).
Clinigen Group plc
Clinigen Group is engaged in providing medicines. The company operates through 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 across the U.S, the U.K., Japan, Australia, New Zealand, South Africa, Belgium, Germany, France, and Switzerland through its sales, offices, and warehouses.
Cognizant Technology Solutions Corporation
Cognizant Technology provides IT services, including digital business, digital operations, and digital systems & technology. The company offers services such as 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, Communications, and Media and Technology. The company provides real-world evidence solutions through its Healthcare segment. The company has a global presence 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.
Meticulous Research in its latest publication on U.S. RWE Solutions Market has predicted the growth of 13.0% during the forecast year 2021 to 2028.
International Business Machines Corporation (IBM) is a technology organization providing 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 industryspecific platforms to remove much of the cost and complexity of delivering core business functions. In the real-world evidence solutions market, 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.
IBM has a global presence, operating in more than 175 countries with a broad-based geographic distribution of revenue. The company has a geographic presence across India, France, Brazil, China, Canada, U.S., Germany, the U.K., Italy, Australia, and the Middle East and Africa through its sales, distribution, business channels, and service offerings
SAS Institute Inc.
Founded in 1976 and headquartered in North Carolina (U.S.), SAS Institute provides analytics, business intelligence, and data management software & services. The company serves its solutions for different industry verticals: automotive, banking, capital markets, casinos, communication, healthcare, health insurance, and life sciences, among others. The company operates in the real-world evidence solutions market by offering real-world evidence consulting services.
SAS has customers in 147 countries and has a strong geographic presence across the U.S., Canada, Latin America, Europe, Asia-Pacific, and the Middle East & Africa. The company’s software is installed at more than 83,000 business, government, and university sites.
UnitedHealth Group Incorporated
Incorporated in 1977 and headquartered in Minnesota (U.S.), UnitedHealth Group is a diversified healthcare company with four reportable segments across two business platforms: UnitedHealthcare (health benefits) and Optum (health services). The Optum segment has dedicated units that help improve overall health system performance by optimizing care quality, reducing costs, improving consumer experience and care provider performance, and 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: OptumHealth, OptumInsight, and OptumRx.
The company offers fully integrated services that comprise behavioral health, preventive services, and digital engagement. Optum offers a real-world data health analytics platform and consulting services. The company offers services in more than 150 countries and has a strong geographical presence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Oracle is engaged in providing products and services that address all aspects of corporate information technology (IT) environments—applications, platforms, and infrastructure. The company operates through three business segments: Cloud License, Hardware, and Services. The company provides solutions for the real-world evidence solutions market through its Services segment. The Services segment provides services to maximize their investments in Oracle applications, platforms, and infrastructure technologies. Oracle Health Sciences offers real-world evidence solutions for clinical data managers, biostatisticians, and data scientists. With its subsidiaries and a strong distribution network, the company has its presence across India, the U.S., Canada, Mexico, Argentina, Brazil, Peru, and Australia.
PAREXEL International Corporation
Parexel 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: Clinical Research Services, Parexel Consulting Services, and Parexel Informatics. The access unit of Clinical Research Services provides Real-World Evidence solutions.
The company has a strong geographic presence across the U.S., Mexico, Argentina, Brazil, Denmark, Czech Republic, Poland, the Netherlands, Belgium, Russia, Spain, France, Germany, U.K., Sweden, Switzerland, Australia, Korea, Singapore, India, Thailand, Indonesia, Japan, China, Malaysia, and the Middle East & Africa. In June 2017, Parexel International Corporation was acquired by Pamplona Capital Management LLC. (U.S.) for USD 5 billion.
Popular Mentions: PerkinElmer, Inc., Flatiron Health, SYNEOS HEALTH, INC., CLARIVATE PLC, Medpace Holdings, Inc., Symphony Innovation, LLC, Veeva Systems Inc., Sensyne Health, Prognos Health Inc., HealthVerity Inc., and Truveta Inc.
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