HEOR Services Market Size & Share 2023 to 2032
Market Size by Service (Economic Modeling/Evaluation, Real-world Data Analysis & Information Systems, Clinical Outcome, Market Access Solutions & Reimbursement), by Service Provider (Consultancy, CROs), by End Use & Forecast.
Report ID: GMI3145
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Published Date: December 2022
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Report Format: PDF
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Authors:
Monali Tayade, Jignesh Rawal
HEOR Services Market Size
Health Economics & Outcomes Research Services Market size was valued at over USD 1 billion in 2022. The industry is estimated to grow at more than 14% CAGR from 2023 to 2032 driven by growing healthcare concerns in the post-pandemic.
One of the primary factors driving the expansion of the health economics and outcomes research services industry is the increasing focus of pharmaceutical and biotechnology companies on the development of novel drugs for the treatment of different chronic conditions. For instance, the Center for Drug Evaluation and Research (CDER) approved 50 new drugs in 2021. Additionally, the number of businesses gaining drug approvals has increased over time, which has been advantageous for the expansion of the overall industry.
The strong growth of clinical trials is also contributing to the HEOR services market growth. Health economics and outcomes research supplement clinical drug trials by giving crucial information and research data, assisting decision-makers and healthcare payers in determining patient access to specific medication trials. The success rate of new drugs in some European nations, such as the Netherlands, the UK, and others is very high. Infact, each year, approximately 4,000 clinical trials are approved in Europe.
Shortage of skilled professionals may restrain industry progression
Lack of skilled healthcare professionals in developing and underdeveloped economies is impeding the HEOR services market demand. There is a constant need for highly skilled personnel to handle and analyze developed and technically advanced data, particularly in the data collection and analysis sector. Unfortunately, the market for health economics and outcomes research (HEOR) services has consistently struggled to find qualified workers because of the low availability of advanced HEOR services. Nonetheless, developments in HEOR services are likely to aid in combatting the issue.
HEOR Services Market Analysis
In terms of service, the HEOR services market is categorized into market access solutions & reimbursement, economic modeling/evaluation, clinical outcome, real-world data analysis & information systems, and others. The market access solutions & reimbursement segment is speculated to witness growth at more than 14.5% CAGR from 2023-2032. The segment includes tools and services for evidence generation and safeguard patient access to drugs at reasonable prices. The burgeoning drug launches and therapies are also accelerating the demand for market access solutions and reimbursement services.
With respect to the service provider, the health economics & outcomes research (HEOR) services market is divided into consultancy and contract research organizations (CRO). The consultancy segment is anticipated to depict a growth of over 14.5% between 2023 and 2032. The consultants assist businesses with advice and ideas regarding prudent regulatory requirements. Additionally, the preference for consulting services that support decision-making and provide appropriate business solutions is poised to create several prospects for business expansion.
In terms of end-use, the HEOR services market is segmented into healthcare providers, biotech/pharma companies, healthcare payers, government organizations, and others. The global market size from the healthcare payers is foreseen to reach USD 1.2 billion in revenue by 2032. This growth is attributed to increasing reliance of healthcare payers on HEOR studies owing to the transition from fee-for-service to value-based reimbursement, increased consumer-driven healthcare, and rising usage of specialty medications & targeted therapies, healthcare payers are pushing healthcare payers to adopt HEOR studies. The development of analytical tools in healthcare IT enables system alignment across several platforms, further impacting the market positively.
Regionally, the global HEOR services market is segregated into Europe, Asia Pacific, North America, the Middle East & Africa, and Latin America. Asia Pacific industry is slated to expand at more than 15.5% CAGR over 2023-2032. The region is set to experience rapid growth driven by high R&D funding by regional pharma giants. Additionally, the region's huge population base and favorable regulatory environment contribute to the market's expansion for HEOR services.
HEOR Services Market Share
are some of the key HEOR services market players. These companies majorly engage in growth collaborations and alliances to expand their customer base. For instance, in September 2021, Pharmaceutical company IQVIA worked strategically with HealthCore Inc, a clinical research institution in the United States. The partnership improved the impact of real-world studies and unique research designs.
Impact of COVID-19 Pandemic
Due to several restrictions on healthcare services and workforce shortage, the pandemic had a moderate impact on the HEOR services industry. The rising prevalence of COVID-19 cases had a significant impact on the healthcare sector. HEOR professionals were closely involved in pandemic-related healthcare issues, examining concerns such as disease incidence and health consequences, disease economic impacts, and treatment options such as vaccines and therapies. All through early 2020, the unexpected consequence of pandemic disrupted the HEOR services industry. However, the greater use of real-world evidence following the COVID-19 outbreak is driving the demand for health economics & outcomes research services.
The HEOR service market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2032 for the following segments:
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By Service
By Service Provider
By End-use
The above information is provided for the following regions and countries:
Research methodology, data sources & validation process
This report draws on a structured research process built around direct industry conversations, proprietary modelling, and rigorous cross-validation and not just desk research.
Our 6-step research process
1. Research design & analyst oversight
At GMI, our research methodology is built on a foundation of human expertise, rigorous validation, and complete transparency. Every insight, trend analysis, and forecast in our reports is developed by experienced analysts who understand the nuances of your market.
Our approach integrates extensive primary research through direct engagement with industry participants and experts, complemented by comprehensive secondary research from verified global sources. We apply quantified impact analysis to deliver dependable forecasts, while maintaining complete traceability from original data sources to final insights.
2. Primary research
Primary research forms the backbone of our methodology, contributing nearly 80% to overall insights. It involves direct engagement with industry participants to ensure accuracy and depth in analysis. Our structured interview program covers regional and global markets, with inputs from C-suite executives, directors, and subject matter experts. These interactions provide strategic, operational, and technical perspectives, enabling well-rounded insights and reliable market forecasts.
3. Data mining & market analysis
Data mining is a key part of our research process, contributing nearly 20% to the overall methodology. It involves analysing market structure, identifying industry trends, and assessing macroeconomic factors through revenue share analysis of major players. Relevant data is collected from both paid and unpaid sources to build a reliable database. This information is then integrated to support primary research and market sizing, with validation from key stakeholders such as distributors, manufacturers, and associations.
4. Market sizing
Our market sizing is built on a bottom-up approach, starting with company revenue data gathered directly through primary interviews, alongside production volume figures from manufacturers and installation or deployment statistics. These inputs are then pieced together across regional markets to arrive at a global estimate that stays grounded in actual industry activity.
5. Forecast model & key assumptions
Every forecast includes explicit documentation of:
✓ Key growth drivers and their assumed impact
✓ Restraining factors and mitigation scenarios
✓ Regulatory assumptions and policy change risk
✓ Technology adoption curve parameter
✓ Macroeconomic assumptions (GDP growth, inflation, currency)
✓ Competitive dynamics and market entry/exit expectations
6. Validation & quality assurance
The final stages involve human validation, where domain experts manually review filtered data to identify nuances and contextual errors that automated systems might miss. This expert review adds a critical layer of quality assurance, ensuring data aligns with research objectives and domain-specific standards.
Our triple-layer validation process ensures maximum data reliability:
✓ Statistical Validation
✓ Expert Validation
✓ Market Reality Check
Trust & credibility
Verified data sources
Trade publications
Security & defense sector journals and trade press
Industry databases
Proprietary and third-party market databases
Regulatory filings
Government procurement records and policy documents
Academic research
University studies and specialist institution reports
Company reports
Annual reports, investor presentations, and filings
Expert interviews
C-suite, procurement leads, and technical specialists
GMI archive
13,000+ published studies across 30+ industry verticals
Trade data
Import/export volumes, HS codes, and customs records
Parameters studied & evaluated
Every data point in this report is validated through primary interviews, true bottom-up modelling, and rigorous cross-checks. Read about our research process →