New York, The global health economics & outcomes research (HEOR) services market was valued at USD 1.5 Billion in 2021 and it is anticipated to grow up to USD 3.9 Billion by 2031, at a CAGR of 17.1% during the forecast period.
Health economics and outcomes research (HEOR) is the study of how to best use resources to improve health and health care. It is a relatively new field that combines elements of economics, epidemiology, and decision science.
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Market Trends and Drivers
Health economics & outcomes research (HEOR) services complement clinical development by helping decision makers as well as healthcare payers to determine services, patient access for specific drugs and reimbursement policies. Surging demand for health economics and outcomes research services by several worldwide reimbursement agencies along with increasingly complex legislative environment will thus, accelerate the overall industry progression.
In addition, several European countries, notably UK and Netherlands have a greater success rate in launching new drugs as these economies are heavily reliant on reimbursement decision of different government agencies. Therefore, surge in the number of clinical trials will boost the demand for health economics & outcomes research (HEOR) services thereby augment industry progression. However, lack of professional healthcare specialists in developing economies may also avert market opportunities over the forecast period.
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Market Segments
The health economics and outcomes research services market is segmented by type, end-user, and region. By type, the market is classified into economic assessment, real-world data analysis, and others. Based on the end-user, it is divided into healthcare providers, healthcare payers, and others. Region-wise, the market is segmented into North America, Europe, Asia Pacific, and the rest of the World.
Key Players
The health economics and outcomes research services market includes players such as Axtria Inc., Avalon Health Economics LLC, Medlior, Pharmalex Gmbh, Analysis Group, Icon Plc, Iqvia Inc., McKesson Corporation, Syneos Health, Optum Inc, and others.
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