IQVIA HOLDINGS INC. (US) and Merative (US) are Leading Players in the Real World Evidence Solutions Market
The Real-World Evidence Solutions market is projected to reach USD 4.5 billion by 2029 from USD 2.0 billion in 2024, at a CAGR 16.9% from 2024 to 2029. Real-world evidence (RWE) solution refers to an approach that utilizes information obtained from real-world settings, including clinical practice, patient experiences, and health outcomes, to derive insights and make well-informed decisions in the field of healthcare. This type of evidence differs from data gathered in conventional clinical trials, as it refers to everyday conditions and the huge patient population encountered in real-world settings. The growth of the RWE solutions market is driven by the increase in geriatric population and upsurging incidences of chronic health diseases. Additionally, the RWE solution has the potential to reduce cost and time for the drug development process, hence several pharmaceutical, biopharmaceutical, and medical device companies are adopting the use of RWE solutions. However, lack of universally accepted methodology standards and the data processing infrastructure pose a challenge for the market growth.
The Real-World Evidence Solution market is a highly consolidated market and is dominated by key players. The major players operating in this market are IQVIA HOLDINGS INC. (US), Merative (US), Optum Inc. (US), Icon Plc. (Ireland), Syneos Health (US), Parexel International Corporation (US), Thermo fisher Scientific Inc. (US), LABORATORY CORPORATION OF AMERICA HOLDINGS (US), Oracle (US), ELEVANCE HEALTH, INC. (US), SAS Institute Inc. (US), Aetion Inc. (US), Trinetx Llc. (US), Trinity (US), PerkinElmer, Inc. (US), COGNIZANT TECHNOLOGY SOLUTIONS CORPORATION (US), Clinigen Group plc (UK), Cegedim Health Data (France), Verantos (US), Medspace Holdings Inc. (US), HealthVerity, Inc. (US), Datavant (US), Syapse Inc. (US), Tempus (US), and Flatiron Health (US).
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IQVIA HOLDING INC. (US)
IQVIA HOLDINGS INC. (US) stands as a prominent global provider of technology solutions, advanced analytics, and clinical research services. The company’s offerings play a crucial role in assisting biotechnology firms, medical device manufacturers, pharmaceutical companies, government agencies, medical researchers, payers, and healthcare stakeholders in gaining profound insights into diseases, human behavior, and scientific advancements. The company possesses vast and varied data infrastructure, granting an access to extensive range of healthcare data, such as electronic health records (EHRs), claims data, and various other real-world datasets. This access helps in providing thorough insights into patient outcomes, treatment patterns, and healthcare utilization. Thus by leveraging this robust data foundation, the company is pioneering in real-world evidence Solution Market.
Merative (US)
Merative serves as a strategy in the healthcare industry, catering to providers, payers, life sciences firms, and governmental entities through its expertise in data, analytics, and technology. Formerly known as IBM Watson Health, Merative transitioned into an independent entity under Francisco Partners in 2022. The company is dedicated to assisting clients in reconstructing information and gaining insights into the populations they serve, ultimately enhancing healthcare delivery, decision-making processes, and overall performance. The company provides exclusive access to valuable resources, such as the Merative MarketScan Research Databases, Merative Explorys Therapeutic Datasets Delivered, and the Merative MarketScan Explorys Claims-EMR Data Set, facilitating comprehensive analyses for its users.
Optum, Inc. (US)
Optum Inc. (US) accounted for the third-largest share in the Real-World Evidence Solution market. The company stands as a diverse healthcare organization with a mission to enhance the well-being of individuals and optimize the efficiency of the healthcare system. By delivering innovative solutions to payers, care providers, employers, government entities, and life science companies, the company strives to foster healthier lives and promote operational excellence. Through its Optum Insight and Optum Health segments, Optum Inc. offers Real-World Evidence (RWE) solutions, enabling healthcare systems to effectively manage costs, adhere to compliance requirements, enhance clinical performance, and navigate the dynamic healthcare landscape. These solutions are catered to payers, care providers, employers, governments, life science companies, and consumers. The company operates across 150 countries spanning North America, Asia Pacific, Europe, Latin America, the Middle East, and Africa.
Related Reports:
Real World Evidence Solutions Market by Component (Services, Disparate Data Sets (Clinical), Application (Drug and Medical Device Development and Approvals), Mode of Deployment, Revenue Model, End Users, & Region, Business Model - Global Forecast to 2029
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