IQVIA is one of the world’s leading companies using data, cutting-edge analytics, technologies, and expertise to improve healthcare solutions. It collaborates with several other firms to establish an advanced healthcare system. It has top-skilled employees to develop breakthrough solutions.
This company’s products have the potential to transform patient outcomes and the business. IQVIA competitors are trying to outperform the American multinational company and provide better solutions.
This company frequently introduces solutions that draw more clients and improve its position in the market.
What Does IQVIA Do?
This company provides biopharmaceutical development solutions and solutions for commercial outsourcing. This firm mainly focuses on Phase I-IV clinical trials, analytical services, laboratory, and consulting services.
Over 88,000 employees are working for this company. It has established its branches in more than 100 countries. IQVIA has established its network across the globe to deliver revolutionary solutions.
This company’s $49 Billion market capitalization proves IQVIA is a big competitor in Clinical Research and Healthcare Information Technology industries! It became one of the leading contract research organizations in the world in 2017.
This company currently offers:
- Real-World Evidence
- Research & Development
- Integrated Global Compliance
- Commercialization
- Reliable data and technologies
- Biopharma solutions
In addition, this company has designed clinical, real-world, commercial, compliance, safety, etc., products to entertain all clients’ needs. Therefore, many companies in the healthcare industry trust IQVIA to deliver innovative solutions for all their needs.
Who are IQVIA’s competitors?
This company is competing against the leading firms in Health Information Technology and Clinical Research industries. It applies innovative IT solutions to serve clients in clinical research.
The company has been around since 1980. It became a major player in the industry after Quintiles and IMS Health’s merger.
Continue reading to learn more about IQVIA competitors. Here are the Top 10 IQVIA Competitors
1. Labcorp Drug Development
Formerly known as Covance, Labcorp Drug Development is a Burlington, North Carolina-based contract research organization. This company provides preclinical, nonclinical, and commercialization services to the biotechnology and pharmaceutical industries.
Over 70,000 people are working for Labcorp across the globe. Covance is one of several departments this company manages. Being a major IQVIA competitor, Labcorp can offer the largest central laboratory network in the world!
The Human Rights Campaign has rated Labcorp the best organization to work for LGBTQ equality in the world. This company assesses the toxicology and safety of drugs by testing its products on animals. Many animal welfare organizations did not appreciate drug testing on animals.
Clients rely on Labcorp Drug Development for lead optimization, research, analysis services, safety assessment, clinical test, clinical development, and other associated solutions.
This company is competing against IQVIA and many other companies to become the most profitable contract research service provider. It outperformed IQVIA in 2021, but it doesn’t offer healthcare information technology solutions. Therefore, IQVIA is still the market leader in that sector.
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2. ICON PLC
ICON has emerged as one of the most trusted clinical research and healthcare intelligence organizations. This company serves clients for clinical development and commercialization. It currently employs more than 38,000 employees in a total of 46 countries.
This company has established its offices and research facilities in 147 locations to entertain clients across the globe.
John Climax and Ronan Lambe founded this organization in 1990. Their mission was to support the development of top-quality drugs. This is what the company has done to improve people’s quality of life.
This company offers consulting and outsourced development solutions. Clients seeking biotechnology and pharmaceutical solutions trust ICON for seamless services. It serves both private and public sector clients.
ICON employs seasoned individuals, who deliver innovative solutions to meet the client’s needs. They try to reduce the cost, and time to market and improve quality. This firm has the leading experts in their respective fields who work tirelessly to deliver satisfying results.
This company has won several high-profile awards for its remarkable work. Being one of the largest contract research organizations, ICON plc is giving tough competition to IQVIA.
Both companies have made a profit in the recent few years, but IQVIA has comprehensively beaten ICON in the competition.
3. Parexel
This American company offers biopharmaceutical solutions to clients across the globe. Many pharmaceutical clients rely on Parexel for clinical trials of their drugs. Thus, Parexel helps clients in accelerating the drug approval process.
Parexel is currently operating as the world’s 2nd largest clinical research company. It has served companies to develop over 95% of 200 best-selling products! This company also councils the top 30 biotechnology companies and the top 50 biopharmaceutical firms.
Josef von Rickenbach and Anne B. Sayigh established Parexel in 1982 to advise German and Japanese companies on how to get FDA approval. It served many companies and grew exponentially. It has acquired several companies to expand its service area and entertain clients from all over the world.
Today, Parexel provides clinical development, consulting services, medical solutions, outsourcing services, Real-World Evidence, and several other services. Thus, it competes with IQVIA to become the market leader in the clinical research industry.
4. PPD
This global contract research organization offers integrated drug development services and laboratory management solutions. Fred Eshelman founded this company in 1985. It was a one-person consulting company at that time.
It became popular among pharmaceutical clients and Eshleman added development services to provide more services.
Being a global clinical development provider, PPD helps clients develop life-changing medications. It is always among the top companies when it comes to providing world-class laboratory services.
PPD hires seasoned employees to develop innovative solutions. It expedites the drug approval process to deliver beneficial medicines on the market as soon as possible. Therefore, numerous pharmaceutical clients are drawn to PPD.
It is currently helping clients in building patient-driven trials, decentralized clinical trials, and offering a whole range of clinical development solutions.
More than 27,000 employees are working for this firm in various locations. Their combined efforts have made PPD one of the leading clinical development and laboratory services companies in the world.
5. PRA Health Sciences
This company was established as the Anti-Inflammatory Drug Study group in 1976. Since it was expanding services, the company was renamed PRA in 1982.
Symphony Health bought this company in 2017. It was a real-world healthcare data, technology, and analytics solution provider. This merger helped PRA generate over $2 Billion in 2018.
Being a major PRA competitor, ICON acquired this company in 2021. Now, PRA is operating as an ICON subsidiary. Since both companies are serving in the same industry, ICON controls PRA’s operations and its 17,000+ employees.
6. Syneos Health
This Morrisville, North Carolina-based contract research organization specializes in last-stage clinical trials. It helps many companies in the pharmaceutical industry navigate through the FDA approval procedure.
Syneos claims that its main objective is to assure the greater success of clients. It got the experience, knowledge, equipment, and expertise to deliver high-quality drugs on the market. It follows the Biopharmaceutical Acceleration Model to deliver flawless solutions.
Clients rely on Syneos Health for clinical development, commercialization, and consultation. It has more than 28,000 employees working tirelessly to deliver what the clients demand. Therefore, the firm is growing much faster than other companies in clinical research and the healthcare IT industry.
7. ZS Associates
Being a management consulting firm, ZS Associates offers software, technology, and consulting solutions. It mainly serves clients from the private equity, healthcare, and technology industries.
Two professors from Northwestern University had developed a sales force alignment model. They had used a personal-computer-aided territory mapping system to prepare this model. Later, they established the ZS Associates to help clients with a wide range of professional services.
This company was offering advanced analytics when it was established in 1983. Today also, many companies in the healthcare industry rely on ZS Associates for data and analytics services.
ZS has established 25 offices in Asia, North America, Europe, and South America. More than 10,000 employees work for this organization. Their expertise and innovative solutions help ZS Associates satisfy hundreds of clients from all over the world.
8. Verisk Analytics
It is a U.S.-based multinational data analytics firm. It serves customers in the healthcare, natural resource, insurance, government, and financial services sectors. It is one of the most trusted risk assessment companies.
It relies on industry expertise and proprietary data sets to deliver decision support consultation and predictive analytics.
Clients consult with Verisk Analytics for fraud prevention, insurance coverage, actuarial science, catastrophe and weather risk assessment, fire protection, and data management.
This company was established in 1971 as an insurance rating bureau. It became the first choice for risk analytics and insights. Clients admired Verisk’s support and sought analytical support in various other fields.
Thus, it has grown to become a reliable source of insights. IQVIA and Verisk Analytics both are trusted partners for insights. Therefore, these companies compete to become the best source of insights in the USA and the rest of the world!
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9. Veeva Systems Inc.
It is a USA-based cloud-computing company with a market capitalization of $49 Billion! Peter Gassner and Matt Wallach had established this firm in 2007. It became a trusted partner for many companies in the pharmaceutical and life science industries.
This company’s cloud solutions deliver software, data, services, and a well-curated ecosystem of partners. It helps customers in research and development, commercialization, and several other critical procedures that require comprehensive data assessment.
Veeva Systems has consistently improved its services to help clients bring their products to market more efficiently. It helps clients speed up the product development process while maintaining compliance.
Therefore, many pharmaceutical companies rely on Veeva Systems for quick growth and increasing profit.
10. Optum
Optum, Inc. is a subsidiary of UnitedHealth Group. This firm was founded after the merger of UnitedHealth’s existing pharmacy and care delivery services. Now, Optum manages OptumInsight, OptumHealth, and OptumRx divisions.
This company has significantly improved UnitedHealth Group’s profit. It accounted for 44% of UnitedHealth’s total profit in 2017. Its total revenue has surpassed $100 Billion in 2019 and thus it got huge media attention.
This company mainly operates as a healthcare service provider. However, it also shares insights and ideas to grow better healthcare solutions. This company collaborates with many other firms in the healthcare industry.
The federal government, employers, c-suite leaders, life science companies, and state governments seek Optum’s insights on various issues. Thus, it became a major rival for IQVIA and both compete to be the first choice for insights, ideas, and consultation on healthcare system-related issues.
