Health Economics And Outcomes Research (HEOR) Market Size is Expected to Grow Steadily at a CAGR of 13% in the Forecast Period Of 2023-2028
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The new report by Expert Market Research titled, 'Global Health Economics and Outcomes Research (HEOR) Market Size, Share, Growth, Report and Forecast 2023-2028', gives an in-depth analysis of the global health economics and outcomes research market, assessing the market based on its segments like service, drugs, offering, end use and major regions like North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2023-2028)
- Historical Market Size (2020): USD 1.2 billion
- Forecast CAGR (2023-2028): 13 %
- Forecast Market Size (2026): USD 2.5 billion
The pharmaceutical industry has seen strong growth in recent years. The rising production of drugs is driving demand for the HEOR industry. The number of clinical trials needed has risen with the advent of new drugs in the pharmaceutical industry.
Health economics and outcomes research contribute to pharmaceutical development by offering useful information about particular drugs, such as population accessibility and comparative pricing of competing drugs. The price of new drugs and the price revision of existing drugs is carried out with the assistance of HEOR services, which promotes the growth of the industry.
Industry Definition and Major Segments
Health Economics and Outcome Research (HEOR) refers to the services used by health and pharmaceutical firms to find the value, cost and cost-effectiveness of products or techniques. Healthcare and pharmaceutical companies are able to make more informed business decisions on their products through observational data, price comparisons and other market measures.
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Based on drugs, the market is bifurcated into:
- Developing Drugs
- Branded Drugs
Based on service, the market is divided into:
- Real World Evidence
- Payer Evidence
- Pricing and Reimbursement
- Epidemiology Studies
- Market Access
- Others
Bases of offering, the market is segmented into:
- Outsourced
- In-house
Based on end use, the industry can be categorized into:
- Healthcare Providers
- Government Organizations
- Pharma and Biotech Companies
- Healthcare Payers
- Others
The regional markets for HEOR include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Trends
North America has concentrated on value-based treatment and outstanding performance in pharmaceutical science. The United States has an active presence with a variety of major players involved in drug research and supportive government policies for HEOR services. These factors enabled North America to grow as one of the largest regional markets for HEOR.
Europe is also likely to see considerable growth due to increased use of advanced medications and treatment approaches. Regulations that encourage the accessibility of health services in Europe have also helped HEOR services.
Key Market Players
The major players in the market are IQVIA Inc, Medpace Inc, Certara Inc, Syneos Health, McKesson Corporation, Optum Inc, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, mergers and acquisitions, among other latest developments of these market players.
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