Health Economics & Outcomes Research (HEOR) Services Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025

Report ID: GMI3145

Summary Methodology

Health economics & outcomes research services market size is expected to grow significantly from 2019 to 2025.

Health economics and outcomes research (HEOR) services market will experience high growth in the upcoming years owing to increasing prevalence of acute diseases and life-threatening conditions worldwide. Health economics and outcomes research is aimed at assessing the economic impact of disease treatment and conditions, including direct costs of medical expenditure and indirect costs associated with work loss and disability.

Increasing drug spending and pricing is the key factor that will drive health economics and outcomes research market growth significantly over the coming years. Growing burden of drug spending and its impact on payer’s healthcare budget is a major hurdle in several regions. Focus of health economics and outcomes research service providers on providing optimal health outcomes for patients without bankrupting patient or healthcare system will augment industry growth.

Furthermore, geriatric patients prone to chronic diseases, need more care thereby leading to increased healthcare costs. Early disease detection helps to reduce healthcare costs. Mobile health (mHealth) including telemedicine, wearables and apps that offer life-changing benefits to elderly population base; aforementioned factors favor business growth over the forthcoming years. However, complexities and costs involved in conducting real world research may hamper health economics and outcomes research (HEOR) services market growth over the coming years.

Real world data and information systems segment will witness significant growth during the forecast period. Advent of technology and electronic medical records have made real world data increasingly accessible and useful for outcomes research and regulatory purposes. Increasing potential for converting real world data into real world evidence will further favor segmental growth over the coming years.

Consultants play a major role in addressing issues pertaining to high cost of prescription drugs and measures to reduce healthcare costs thereby derives significant revenue stream. Moreover, role of consultants to help patients in reducing social costs such as health checks, payment for doctors and nurses, medical machines and hospitalization should augment segmental growth.

Health technology assessments segment is anticipated to witness considerable growth over the forecast period. Ability of Health Technology Assessments (HTAs) to evaluate medicines and devices by government based or private organizations will drive segmental growth. Growing adoption of health technology assessment in high income countries to determine reimbursement and other health benefit packages will spur the revenue size.

U.S. health economics and outcomes research market accounted for the largest market share in North America region owing to transition towards value-based care. Furthermore, regulators are increasingly accepting real world evidence studies for regulatory approval. Increasing focus on quality of work as well as need of successful health economics and outcomes research strategy for patients, providers, payers and other stakeholders will upsurge business growth.

China health economics and outcomes research market will witness considerable growth during the forecast timeframe. Rapidly growing pharmaceutical and medical device market will act as primary driver for China health economics and outcomes research market growth. Collaboration with global sponsors coupled with local and technical support will positively impact industry growth in the country.

Some of the major industry players operating in health economics and outcomes research services industry includes Axtria, Avalon Health Economics, Avalere, Kantar Health, McKesson, Medlior, MedsurgePI, PharmaLex, Syneos Health and TCD Outcomes Research. Strategic partnership, collaboration and agreement are some of the major strategies adopted by industry players to sustain competition in the market.

Health Economics and Outcomes Research Services Market, By Service, 2014-2025 (USD Million)

  • Economic modeling
  • Data collection and analysis
  • Market access and reimbursement
  • Real-world data and information systems
  • Patient-centered research
  • Others

Health Economics and Outcomes Research Services Market, By Type of Service Provider, 2014-2025 (USD Million)

  • Academics
  • Consultants
  • CROs

Health Economics and Outcomes Research Services Market, By End-user, 2014-2025 (USD Million)

  • Health technology assessment (HTAs)
  • Healthcare decision makers (HCDMs)
  • Physicians
  • Patients

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
  • Asia Pacific
    • Japan
    • China
    • India
  • Latin America
    • Mexico
    • Brazil
  • Middle East and Africa
    • Saudi Arabia
    • South Africa

Company Profiles:

  • Avalon Health Economics
  • Avalere
  • Axtria
  • PharmaLex
  • Kantar Health
  • McKesson
  • Medlior
  • MedsurgePI
  • Syneoshealth
  • TCD Outcomes Research

What Information does this report contain?

Historical data coverage: 2014 to 2018; Growth Projections: 2019 to 2025.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

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