Health Economics and Outcomes Research (HEOR) Services Market Poised for 12 % Growth, Set to Hit $2.79 Billion by 2029

What industry-specific factors are fueling the growth of the health economics and outcomes research (heor) services market?
There is an anticipation of significant growth in the health economics and outcomes research services market owing to the rise in the number of clinical trials. These trials, essentially research studies involving human participants, are designed to gauge the safety and efficacy of new medical treatments, techniques, or diagnostics. Health economics and outcomes research (HEOR) services offer a detailed analysis of economic impacts, cost-effectiveness, and real-world effects of these medical interventions in the context of clinical trials. This analysis aids in informed decision-making and establishing effective reimbursement tactics. Notably, in May 2023, the United States National Library of Medicine reported a surge in the registered studies of clinical trials, with a leap from 399,499 in 2022 to 437,533 across all 50 states and 221 countries. Reports also show that of these registered studies, 140,492 (31%) are based in the US, while 241,498 studies (53%) are held in non-US locations. As such, the escalating number of clinical trials is a potent driver for the growth of the health economics and outcomes research services market.

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What Is the projected market size and growth rate for the health economics and outcomes research (heor) services market?
The market size for health economics and outcomes research (HEOR) services has seen substantial growth in the past few years. The market is expected to surge from $1.57 billion in 2024 to $1.76 billion in 2025, with a compound annual growth rate (CAGR) of 12.4%. The growth during the historic period is a result of the rise of evidence-based medicine, changes in healthcare policy and reforms, innovative advancements in pharmaceuticals, an aging population, and an increase in chronic diseases.

The market for health economics and outcomes research (HEOR) services is poised to experience significant growth in the coming years. The market value is projected to reach $2.79 billion by 2029, fueled by an annual growth rate of 12.2%. This considerable growth over the forecasted period can be credited to factors such as optimizations in the healthcare supply chain, emphasis on health disparities, the increase in value-based arrangements, advancements in digital health and telemedicine, and the switch to personalized medicine. Key market trends expected during the forecasted period include the integration of social health determinants, the application of HEOR in the treatment of rare diseases and orphan drugs, assessment of patient-centric outcomes, standardization of value frameworks, and rapid generation of real-world evidence.

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What new trends are reshaping the health economics and outcomes research (heor) services market and its opportunities?
The emergence of advancements in real-world evidence platforms is a notable trend in the health economics and outcomes research (HEOR) services market. To re-shape healthcare decision-making, drug development, and patient care, major firms active in the HEOR services market are utilizing groundbreaking technology. They are using real-world data to produce evidence-based insights, which helps to maintain their market position. For example, in April 2023, Komodo Health, a healthcare tech firm based in the United States that excels in real-world evidence (RWE) and data analytics, unveiled MapEnhance. This is a network of specialty data partners that have been integrated into the real-world evidence technology platform. Komodo's Healthcare Map's analytical capabilities are boosted by this new platform. It does so by including unique, richly informative data gathered from its partner network. MapEnhance provides customers with a thorough and in-depth understanding of clinical events and patient populations, facilitating unparalleled insights.

What major market segments define the scope and growth of the 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 region dominates 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.

Which key market leaders are driving the health economics and outcomes research (heor) services industry growth?
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

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What Is Covered In The Health Economics and Outcomes Research (HEOR) Services Global Market Report?

• Market Size Forecast: Examine the health economics and outcomes research (heor) services market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the health economics and outcomes research (heor) services market for a structured understanding.
• Key Players Overview: Analyze major players in the health economics and outcomes research (heor) services market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the health economics and outcomes research (heor) services market.
• Segment Contributions: Evaluate how different segments drive overall growth in the health economics and outcomes research (heor) services market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the health economics and outcomes research (heor) services market.
• Industry Challenges: Identify potential risks and obstacles affecting the health economics and outcomes research (heor) services market.
• Competitive Landscape: Review strategic developments in the health economics and outcomes research (heor) services market, including expansions, agreements, and new product launches.

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