COMPANY PROFILE -IQVIA
Business Sector :Contract Research Organization, Pharmaceuticals
Operating Geography :United States, North America, Global
About IQVIA :
IQVIA, formerly Quintiles and IMS Health, Inc., is a worldwide health information technology and clinical research firm headquartered in Carolina, United States. IQVIA is a biopharmaceutical research and commercial outsourcing company that specialises in Phase I-IV clinical trials, as well as associated laboratory and analytical services, as well as consultancy. Quintiles, a prominent worldwide contract research business, and IMS Health, a leading healthcare data and analytics provider, merged in 2016 to form IQVIA. The present company's name pays homage to the historical entities. Technology & Analytics Solutions, Research & Development Solutions, and Contract Sales & Medical Solutions are the three segments that make up the company. Life science clients benefit from Technology & Analytics Solutions' crucial data, technology solutions, and real-world insights and services. Research & Development Solutions specialises in research and development as well as clinical research and clinical trial services for bio-pharmaceutical companies. Contract Sales & Medical Solutions works with biopharmaceutical companies as well as the larger healthcare industry on contract sales. For the fifth consecutive year, IQVIA Holdings Inc. was nominated to FORTUNE magazine's "World's Most Admired Companies” list in February, 2022.
IQVIA's unique selling proposition is that it is the world's leading provider of advanced analytics, technological solutions, and clinical research services, as well as a recognised leader in BPO solutions for pharmaceutical sales and marketing. The mission statement of IQVIA reads, "IQVIA brings together advances in data science, technology, and human science expertise to help the healthcare industry make better decisions, and ultimately to improve patient “.
IQVIA Revenue :
US$ 13,874 million - FY ending 31st December 2021(y-o-y growth 22%)
US$ 11.359 million - FY ending 31st December 2021
Competitive Analysis of IQVIA
The SWOT analysis for IQVIA is presented below in a matrix followed by the detailed analysis report:
Strengths | Weaknesses |
1. Operates in 100+ countries with approximately 77000 employees.
2. World’s largest Contract Research Organization.
3. One of the world’s most admired companies.
| 1. Public criticism of data privacy violations involved in the company's business model. |
Opportunities | Threats |
1. Outsourcing trends in the pharma industry are on the upward trend.
2. The bio-pharmaceuticals industry is one of the most active industries at present.
3. Healthcare systems are increasing digitization in their operations.
4. Public usage of and spending in medicines is set to go up.
| 1. Increasing laws and regulations on data privacy a threat to profit.
2. The biopharmaceutical industry is very highly competitive.
3. The pharma industry faces severe threats from generic drug manufacturers.
4. Global economic and political conditions are unfavorable
|
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Detailed SWOT Analysis of IQVIA
Strength
1. Operates in 100+ countries with approximately 77000 employees:IQVIA has a global presence that helps in spreading its operations and reach. It works in over 100 countries, has over 50,000 pharmacy and wholesale partners, 2000 hospital partners, a network of 100 million+ patients for trial recruitment and over 5 million clinical trial investigators. They have approximately 77,000 employees which include over 4600 advanced data scientists, 1600+ doctors and 8000+ software experts. They have over a billion patient records, and around 150 methodologies which are patent pending. These numbers point to the sheer size and reach of the company and point at how this helps them effectively carry out research and be a useful outsourcing client to biotechnology and pharmaceutical companies. The geographical spread also aids them in optimizing their resources and reduces cost of functioning.
The remaining section under "Strength" is available only in the 'Complete Report' on purchase.
Weakness
This section is available only in the 'Complete Report' on purchase.
Opportunity
1. Outsourcing trends in the pharma industry are on the upward trend: Outsourcing is one of the major pharmaceutical industry trends in the coming years due to rising supply chain costs and issues. 70% of the biopharma industry is planning on increasing their future outsourcing. The outsourcing is specially targeted by developed countries to emerging markets such as China, India and Brazil. Biopharmaceutical spending on drug development totaled approximately $130 billion in 2020. Of that amount, IQVIA estimated that their addressable opportunity (clinical development spending excluding preclinical spending) was approximately $75 billion. The portion of this addressable opportunity that was outsourced in 2020 was approximately $36 billion. The International Data Corporation (IDC) judged IQVIA as a global leader in Business Process Outsourcing (BPO) solutions and services, highlighting that the company was providing real world solutions to the pharmaceuticals industry.
The remaining section under "Opportunity" is available only in the 'Complete Report' on purchase.
Threat
This section is available only in the 'Complete Report' on purchase.
The PESTLE analysis for IQVIA is presented below in a table followed by the detailed analysis report.
Political | Economical |
1. Biden’s tax plan is especially strict on tech and pharmaceutical companies.
2. Post Brexit, the UK's Life Sciences industry is undergoing major changes.
| 1. Inflationary pressures present in the US Economy.
2. Emerging markets spending on pharmaceuticals is set to increase.
3. Life sciences innovation is receiving record levels of investment and activity.
|
Social | Technological |
1. Covid has shifted customer engagement preferences towards virtual mode. | 1. Healthcare has more opportunities for AI and ML usage.
2. Cloud computing is increasingly used in the pharmaceuticals industry.
|
Legal | Environmental |
1. Regulations on data privacy are set to increase in 2022. | 1. Environmental protection at the heart of Biden’s federal policy. |
IQVIA SWOT & PESTLE Analysis PDF Report is a custom report and will be delivered to your email inbox within 2 business days from purchase.
Detailed Pestle Analysis of IQVIA
Political
This section is available only in the 'Complete Report' on purchase.
Economic
This section is available only in the 'Complete Report' on purchase.
Social
This section is available only in the 'Complete Report' on purchase.
Technological
1. Healthcare has more opportunities for AI and ML usage: Artificial Intelligence in Healthcare is predicted to be worth US$ 74 billion in 2028 with a Compounded Annual Growth Rate (CAGR) of 56.2%. This has been exacerbated by the Covid-19. AI and ML will also be worth US$ 8 billion in the US's biopharma industry in 2022. AI and ML are particularly useful due to the increase in data volume of patient details. IQVIA uses AI to help customers from clinical to commercial to enhance precision, increase speed, and scale to meet evolving challenges such as finding correlation between diseases, improving trial execution, increasing automation and so on. Healthcare has several issues that need AI involvement; like predictive analytics identifying hotspots of prodromal Alzheimer’s, predicting treatment response of elderly ailments and using marketing analytics to promote healthcare professionals. IQVIA has started working on some of these issues and is poised to take advantage of the growing developments.
The remaining section under "Technological" is available only in the 'Complete Report' on purchase.
Legal
This section is available only in the 'Complete Report' on purchase.
Environmental
This section is available only in the 'Complete Report' on purchase.
Major Brands :
- Privacy Analytics
- DrugDev Inc.
- ValueCentric LLC
IQVIA SWOT & PESTLE Analysis PDF Report is a custom report and will be delivered to your email inbox within 2 business days from purchase.
TABLE OF CONTENTS
DELIVERY AND FORMAT
WHY CHOOSE US?
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IQVIA Segmentation, Targeting and Positioning (STP) Analysis |
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Check Out Analysis of Other Relevant Companies
References used in IQVIA SWOT & PESTLE Analysis Report
1. Top 10 clinical Research Organizations (CROs) in the World – 2021 - https://pacifixresearch.com/index.php/2021/04/16/top-10-clinical-research-organizations-cros-in-the-world-2021/
2. Investor Relations - https://ir.iqvia.com/overview/default.aspx
3. IQVIA Named to FORTUNE’s 2022 List of “World’s Most Admired Comp - https://s24.q4cdn.com/326377938/files/doc_news/2022/rel-IQVIA-Fortune-Most-Admired-Company-2022-_-Final.pdf
4. Privacy commissioner to investigate sale of health data - https://www.thestar.com/news/investigations/2019/02/21/privacy-commissioner-to-investigate-sale-of-health-data.html
5. UK's official statisticians had concerns over covid-19 survey bias - https://www.newscientist.com/article/2263528-uks-official-statisticians-had-concerns-over-covid-19-survey-bias/
The detailed complete set of references are available on request in the 'Complete report' on purchase.
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IQVIA SWOT and PESTLE analysis has been conducted by Medha Sinha and reviewed by senior analysts from Barakaat Consulting.
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