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Market Overview
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 & outcomes research (HEOR) services is a discipline that helps to guide healthcare providers to examine and select from multiple treatment options. The convergence of health economics and outcomes research services provide significant data and insights for healthcare decision makers.
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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.
Market Restraints and Challenges
Lack of professional healthcare specialists in developing economies may also avert market opportunities over the forecast period. One of the key restraints is the lack of standardization in HEOR methodology and reporting. This lack of standardization makes it difficult to compare and contrast the results of different HEOR studies, making it difficult to make informed decisions about which services to use. Additionally, the high cost of HEOR services can be a barrier to entry for some organizations. Finally, the ever-changing healthcare landscape and the need for ever-higher levels of evidence can make it difficult for HEOR teams to keep up with the latest developments.
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Global Health Economics & Outcomes Research (HEOR) Services Market Segmentation
By Product
- Real World Data Analysis & Information System
- Economic Modelling/Evaluation
- Market Access Solutions & Reimbursement
- Clinical Outcome
- Others
By Type
- Contract Research Organizations
- Consultancy
By End-user
- Healthcare Providers
- Healthcare Payers
- Biotech/Pharma Companies
- Government Organizations
- Others
Major Players in the Global Health Economics & Outcomes Research (HEOR) Services Market
The key players in the health economics & outcomes research (HEOR) services market Axtria, Cardinal Health, Pharmaceutical Product Development (PPD), Avalon Health Economics, Optum, McKesson, IQVIA, PharmaLex, MEDLIOR, and Icon plc among others.
COVID-19 Impact
The COVID-19 pandemic has significantly influenced the landscape of Health Economics & Outcomes Research (HEOR) services, reshaping priorities, methodologies, and demand within the sector. As healthcare systems worldwide grapple with the unprecedented challenges posed by the pandemic, there has been a heightened emphasis on assessing the value, efficacy, and cost-effectiveness of healthcare interventions. HEOR has thus emerged as a critical tool for decision-makers, guiding resource allocation, policy formulation, and treatment strategies in the face of evolving clinical and economic uncertainties.
Moreover, the pandemic has accelerated the adoption of innovative HEOR methodologies, such as real-world evidence generation and health technology assessments, to provide timely insights into the effectiveness and economic implications of interventions related to COVID-19 and other health conditions. Despite facing disruptions such as delays in data collection and challenges in conducting traditional research methodologies due to social distancing measures, the HEOR services market has adapted by leveraging digital technologies, remote data collection methods, and collaborative platforms to ensure continuity in research activities. Looking ahead, the COVID-19 pandemic is expected to catalyze further growth and innovation in the HEOR services market as stakeholders increasingly recognize the pivotal role of evidence-based decision-making in navigating the complex healthcare landscape and building resilient health systems for the future.
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Research Scope
- Scope – Highlights, Trends, Insights. Attractiveness, Forecast
- Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
- Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
- Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
- Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
- Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis.
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