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IQVIA(IQV) - 2022 Q4 - Annual Report
IQVIQVIA(IQV)2023-02-15 21:24
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Market Value and Stock Information - The company's aggregate market value of voting and non-voting common stock held by non-affiliates was approximately 40.2billionasofJune30,2022[7]−Thecompanyhasapproximately185,722,621sharesofcommonstockoutstandingasofFebruary6,2023[7]DataandInformationAssets−Thecompany′sproprietarydatasetcontainsapproximately60petabytesofdatasourcedfromapproximately150,000datasuppliersandcoveringoveronemilliondatafeedsglobally[26]−Thecompany′sdataincludesmorethan1.2billioncomprehensive,longitudinal,non−identifiedpatientrecords[26]−Thecompanydeliversinformationandinsightsonover8540.2 billion as of June 30, 2022[7] - The company has approximately 185,722,621 shares of common stock outstanding as of February 6, 2023[7] Data and Information Assets - The company's proprietary data set contains approximately 60 petabytes of data sourced from approximately 150,000 data suppliers and covering over one million data feeds globally[26] - The company's data includes more than 1.2 billion comprehensive, longitudinal, non-identified patient records[26] - The company delivers information and insights on over 85% of the world's pharmaceuticals, as measured by 2021 sales[26] - The company receives approximately 100 billion healthcare records annually[27] - The company's proprietary data set includes product level tracking in 93 markets[27] - The company's data set covers treatments and outcomes on more than 1.2 billion unique non-identified patient records globally[27] - The company has one of the largest and most comprehensive collections of healthcare information, including over 1.2 billion non-identified patient records and approximately 60 petabytes of proprietary data[26] - The company's healthcare-specific global IT infrastructure processes approximately 100 billion healthcare records annually, applying privacy, security, and operational protections[27] - The company's analytics-driven clinical development leverages product-level tracking in 93 markets and information on treatments and outcomes from over 1.2 billion unique non-identified patient records[27] - The company's information networks include more than 1.2 billion unique non-identified patient records globally[39] - The company’s information networks include more than 1.2 billion unique non-identified patient records globally[39] Market Opportunity and Industry Trends - The company's market opportunity is estimated to be greater than 300 billion, consisting of outsourced research and development, real-world evidence, and connected health and technology-enabled clinical and commercial operations markets[28] - The life sciences industry generated approximately 1.48trillioninrevenuesin2022,withexpectedglobalrevenuegrowthrangingfrom31.48 trillion in revenues in 2022, with expected global revenue growth ranging from 3% to 6% between 2023 and 2027[29] - Pharmaceutical spending in emerging markets is projected to grow at a 5% to 8% CAGR through 2027[29] - Biopharmaceutical spending on drug development totaled approximately 160 billion in 2022, with an outsourced portion estimated at 43billion[29]−ThetotaladdressablemarketforReal−WorldEvidenceandconnectedhealthisapproximately43 billion[29] - The total addressable market for Real-World Evidence and connected health is approximately 62 billion, with 22billioninlifesciencesand22 billion in life sciences and 40 billion in connected healthcare[29] - The total addressable market for technology-enabled commercial operations is approximately 78billion,includingITservicesandcommercialservices[29]−Approximately300newmolecularentities(NMEs)areexpectedtobeapprovedbetween2023and2027,averaging60peryear[30]−Thecompanyestimatesthetotalmarketforresearchanddevelopmentandcommercialoperationstobemorethan78 billion, including IT services and commercial services[29] - Approximately 300 new molecular entities (NMEs) are expected to be approved between 2023 and 2027, averaging 60 per year[30] - The company estimates the total market for research and development and commercial operations to be more than 300 billion in 2022[40] - The company's market opportunity is estimated to be greater than 300billion,encompassingoutsourcedresearchanddevelopment,real−worldevidence,andtechnology−enabledclinicalandcommercialoperationsmarkets[28]−Thecompany′smarketsizeestimatesarederivedfromthird−partysources,internalresearch,andprojectedgrowthratesforvarioussegments[28]−Thelifesciencesindustrygeneratedapproximately300 billion, encompassing outsourced research and development, real-world evidence, and technology-enabled clinical and commercial operations markets[28] - The company's market size estimates are derived from third-party sources, internal research, and projected growth rates for various segments[28] - The life sciences industry generated approximately 1.48 trillion in revenues in 2022, with expected global revenue growth ranging from 3% to 6% between 2023 and 2027[29] - Spending on pharmaceuticals in emerging markets is projected to grow at a 5% to 8% CAGR through 2027[29] - Biopharmaceutical spending on drug development totaled approximately 160billionin2022,withanoutsourcedportionestimatedat160 billion in 2022, with an outsourced portion estimated at 43 billion[29] - The total addressable market for Real-World Evidence and connected health is approximately 62billion,splitinto62 billion, split into 22 billion for life sciences and 40billionforconnectedhealthcare[29]−Thetechnology−enabledcommercialoperationsmarketisvaluedatapproximately40 billion for connected healthcare[29] - The technology-enabled commercial operations market is valued at approximately 78 billion, including IT services and commercial services[29] - Approximately 300 new molecular entities (NMEs) are expected to be approved between 2023 and 2027, averaging 60 per year[30] - The company’s client base includes over 10,000 clients in over 100 countries, with a total estimated market for research and development and commercial operations exceeding $300 billion in 2022[40] Workforce and Organizational Structure - The company has a global workforce of approximately 86,000 employees, including 29,000 in Technology & Analytics Solutions and 46,000 in Research & Development Solutions[29] - The company has a global workforce of approximately 86,000 employees, including 29,000 in Technology & Analytics Solutions and 46,000 in Research & Development Solutions[29] Client and Revenue Information - No single client accounted for 10% or more of the company's total revenues in 2022, with the largest client contributing approximately 7%[56] - No single client accounted for 10% or more of the company’s total revenues in 2022, with the largest client contributing approximately 7%[56] Competitive Landscape - The company operates in a highly competitive market for Research & Development Solutions, competing against traditional CROs, biopharmaceutical companies, universities, and teaching hospitals[58] - The company's primary competitors include Labcorp Drug Development, ICON plc, Parexel International Corporation, Pharmaceutical Product Development, Inc. (now part of Thermo Fisher Scientific Inc.), and Syneos Health[58] - The company operates in a highly competitive market for Research & Development Solutions, competing against traditional CROs, biopharmaceutical companies, universities, and teaching hospitals[58] Product and Service Offerings - The company offers hundreds of distinct services, applications, technology platforms, and solutions across three reportable segments: Technology & Analytics Solutions, Research & Development Solutions, and Contract Sales & Medical Solutions[43] - The company's real-world solutions ecosystem includes retrospective database analytics, prospective real-world data collection technology platforms, and scientific expertise[27] - The company's proprietary clinical and commercial applications support clients in increasing clinical operations performance, regulatory compliance, and sales operations management[27] - The company offers hundreds of distinct services, applications, technology platforms, and solutions across three reportable segments: Technology & Analytics Solutions, Research & Development Solutions, and Contract Sales & Medical Solutions[43] - The company's offerings complement each other and can provide enhanced value to clients when delivered together, with each segment driving demand for the other[43]