How Has The Health Economics and Outcomes Research (HEOR) Services Market Size Evolved In Recent Years?
The health economics and outcomes research (heor) services market has seen considerable growth due to a variety of factors.
•The market size for health economics and outcomes research (HEOR) services has been expanding swiftly in the last few years. Its projected rise from $1.57 billion in 2024 to $1.76 billion in 2025 equals a compound annual growth rate (CAGR) of 12.4%.
Factors contributing to this expansion during the historical period include the advent of evidence-based medicine, modifications in healthcare policies, breakthroughs in pharmaceuticals, the aging demographic, and a surge in chronic diseases.
What Are The Estimated Market Size And Expected Annual Growth Rates For Global Health Economics and Outcomes Research (HEOR) Services Market?
The health economics and outcomes research (heor) services market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for health economics and outcomes research (HEOR) services is forecasted to experience a swift growth in the upcoming years. It's projected to reach a value of $2.79 billion by 2029, with a compound annual growth rate (CAGR) of 12.2%.
Factors driving the growth during the forecast period include the optimization of the healthcare supply chain, tackling health inequities, an increase in value-based agreements, and a shift towards personalized medicine fueled by digital health and telemedicine. Significant trends during this period involve the incorporation of social determinants of health, application of HEOR in the realm of rare diseases and orphan drugs, assessing patient-centric outcomes, standardizing value framework, and the quick generation of real-world evidence.
Which Drivers Are Accelerating Growth In The Health Economics and Outcomes Research (HEOR) Services Market?
The health economics and outcomes research services market is set to experience considerable growth as a result of a rise in the volume of clinical trials. Clinical trials, which test the safety and efficacy of medical interventions, new treatments, and diagnostic processes on humans, increasingly utilize health economics and outcomes research (HEOR) services. These services scrutinize the economic implications, cost-effectiveness, and real-world outcomes of medical interventions, supplying crucial data for decision-making and reimbursement approaches. For instance, the United States National Library of Medicine recorded an increase in registered clinical trials from 399,499 in 2022 to 437,533 in May 2023, spanning all 50 states and 221 countries. Plus, the report revealed that the U.S. registered 140,492 studies (31% of the total), while non-U.S. locations recorded 53% (241,498 studies). These increases in clinical trials globally are contributing to the expansion of the health economics and outcomes research services market.
What Are The Core Segments Of The Global Health Economics and Outcomes Research (HEOR) Services Market?
The health economics and outcomes research (HEOR) services market covered in this report is segmented –
1) By Service: Real World Evidence, Payer Evidence, Pricing And Reimbursement, Epidemiology Studies, market Access, Other Services
2) By Offering: Outsourced, In-House
3) By Service Provider: Consultancy, Contract Research Organizations (CRO)
4) By End-Use: Healthcare Provider, Healthcare Payers, Biotechnology And Pharmaceutical Companies, Government Organization, Other End-Users
Subsegments:
1) By Real World Evidence: Data Analysis And Interpretation, Patient Registries, Observational Studies
2) By Payer Evidence: Health Technology Assessments (HTAs): Value Dossier Development, Payer Engagement Strategies
3) By Pricing And Reimbursement: Pricing Strategy Development: Reimbursement Submission Support, Economic Modeling
4) By Epidemiology Studies: Disease Burden Analysis: Prevalence And Incidence Studies, Natural History Studies
5) By market Access: market Assessment, Stakeholder Engagement, Health Economic Models
6) By Other Services: Clinical Outcomes Assessment, Patient Reported Outcomes (PRO) Studies, Health Economic Consulting
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Which Emerging Trends Are Reshaping The Health Economics and Outcomes Research (HEOR) Services Market Size?
The emergence of advancements in platforms based on real-world evidence is a significant trend gaining traction in the health economics and outcomes research (HEOR) services market. Companies at the forefront of this sector use cutting-edge technologies to reshape healthcare-related decision-making, drug creation, and patient care, hence, solidifying their market stance. They exploit real-world data to produce insights backed by evidence. For example, in April 2023, Komodo Health, an American health technology company that specializes in real-world evidence (RWE) and data analytics, introduced MapEnhance. This service combines Specialty data partners into a unified RWE technological platform. The advent of this platform boosts the analytic power of Komodo's Healthcare Map by integrating exclusive and highly useful data gathered from its partner network. MapEnhance offers customers a thorough and insightful real-world view of clinical events and patient groups, hence providing an unparalleled level of understanding.
Who Are the Key Players in the Health Economics and Outcomes Research (HEOR) Services Market?
Major companies operating in the health economics and outcomes research (HEOR) services market include:
• McKesson Corporation
• Optum Inc.
• Cardinal Health
• IQVIA Inc.
• ICON PLC
• PPD Inc.
• Syneos Health
• Medlior Health Outcomes Research Ltd.
• Axtria Inc.
• Parexel International
• RTI Health Solutions
• Wellth Inc.
• Westat
• SidekickHealth
• Analysis Group
• Carelon Research
• Precision Health Economics
• Avalon Health Economics LLC
• Lumanity Inc.
• Pharmerit BV
• Epistemix Inc.
• Bohn Epidemiology LLC
What are the Regional Insights into the Health Economics and Outcomes Research (HEOR) Services Market?
North America was the largest region in the health economics and outcomes research (HEOR) services market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the health economics and outcomes research (HEOR) services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
