Health Economics And Outcomes Research (Heor) Services Market Share, Growth Analysis And Revenue Forecast 2024 To 2033

The Business Research Company recently released a comprehensive report on the Global Health Economics and Outcomes Research (HEOR) Services Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The health economics and outcomes research (heor) services market size has grown rapidly in recent years. It will grow from $1.38 billion in 2023 to $1.56 billion in 2024 at a compound annual growth rate (CAGR) of 13.0%. The growth in the historic period can be attributed to emergence of evidence-based medicinem, healthcare policy and reforms, pharmaceutical innovations, aging population, increased chronic diseases.

The health economics and outcomes research (heor) services market size is expected to see rapid growth in the next few years. It will grow to $2.44 billion in 2028 at a compound annual growth rate (CAGR) of 11.9%. The growth in the forecast period can be attributed to healthcare supply chain optimization, focus on health inequities, rise in value-based agreements, digital health and telemedicine, shift to personalized medicine. Major trends in the forecast period include corporation of social determinants of health, heor in rare diseases and orphan drugs, patient-centric outcomes assessment, value framework standardization, rapid real-world evidence generation.

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Market Drivers and Trends:

The surge in the number of clinical trials is expected to propel the growth of the health economics and outcomes research services market going forward. Clinical trials are research studies conducted with human participants to evaluate the safety and effectiveness of new medical treatments, interventions, or diagnostic procedures. Health economics and outcomes research (HEOR) services are utilized in clinical trials to evaluate medical interventions' economic impact, cost-effectiveness, and real-world outcomes, providing valuable insights for decision-making and reimbursement strategies. For instance, in May 2023, according to the United States National Library of Medicine, the number of clinical trials registered studies increased from 399,499 in 2022 to 437,533 in all 50 states and across 221 countries. Moreover, it was reported that 140,492 studies (31%) are registered in the U.S. only, while 241,498 studies (53%) are recorded in non-U.S. locations. Therefore, the surge in the number of clinical trials is driving the growth of the health economics and outcomes research services market.

Advancements in real-world evidence platforms are a key trend gaining popularity in the health economics and outcomes research (HEOR) services market. Major companies operating in the health economics and outcomes research services market are adopting innovative technologies to transform healthcare decision-making, drug development, and patient care by leveraging real-world data to generate evidence-based insights and sustain their position in the market. For instance, in April 2023, Komodo Health, a US-based healthcare technology company specializing in real-world evidence (RWE) and data analytics, launched MapEnhance, a network of specialty data partners integrated into real-world evidence (RWE) technology platform. The new platform enhances the analytical capabilities of Komodo's Healthcare Map by incorporating exclusive and highly informative data curated from its partner network. MapEnhance empowers customers with a comprehensive and detailed real-world perspective on clinical events and patient populations, enabling unprecedented insight.

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Major Key Players of the Market:

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., Crowdcuring, DocME, Bohn Epidemiology LLC

Health Economics and Outcomes Research (HEOR) Services Market 2024 Key Insights:

• The health economics and outcomes research (heor) services market size is expected to see rapid growth in the next few years. It will grow to $2.44 billion in 2028 at a compound annual growth rate (CAGR) of 11.9%.
• Surge In Clinical Trials Propels Growth Of Health Economics And Outcomes Research Services Market
• Advancements In Real-World Evidence Platforms Transforming Health Economics And Outcomes Research Services Market
• North America was the largest region in the health economics and outcomes research (HEOR) services market in 2023

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