Health Economics and Outcomes Research (HEOR) Services Market Size Projected To Reach $2.79 Billion By 2034 With A Cagr Of 12.2%

The Health Economics and Outcomes Research (HEOR) Services Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Projected Growth of the Health Economics and Outcomes Research (HEOR) Services Market?
The market size for health economics and outcomes research (HEOR) services has been expanding at a swift pace over the last few years. The market's projected growth is from $1.57 billion in 2024 to $1.76 billion in 2025, boasting a compound annual growth rate (CAGR) of 12.4%. Factors contributing to this upward trend during the historical period include the rise of evidence-based medicine, changes in healthcare policy and reforms, advancements in pharmaceuticals, an ageing population, and a surge in chronic diseases.

In the upcoming years, a swift expansion is projected for the health economics and outcomes research (HEOR) services market, elevating it to $2.79 billion by 2029, at a compound annual growth rate (CAGR) of 12.2%. The predicted growth during the estimation period can be credited to the optimization of healthcare supply chain, addressing health inequalities, an increase in value-based agreements, advancements in digital health and telemedicine, and a shift towards personalized medicine. Key trends for the forecast period encompass the inclusion of social determinants of health, the application of HEOR in rare diseases and orphan drugs, assessment focused on patient-centric outcomes, standardization of value framework, and expedited generation of real-world evidence.

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What Are the Different Health Economics and Outcomes Research (HEOR) Services Market Segments?
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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What Are the Primary Drivers Shaping the Health Economics and Outcomes Research (HEOR) Services Market?
The health economics and outcomes research services market is set to expand, driven by the jump in the volume of clinical trials. Clinical trials, where human participants are involved to ascertain the safety and efficacy of novel medical procedures, treatments, and diagnoses, often employ health economics and outcomes research (HEOR) services. These services evaluate the economical implications, real-world results, and cost-effectiveness of medical interventions, thereby offering critical intel for decision-making and reimbursement plans. For instance, the United States National Library of Medicine reported in May 2023, a rise in registered clinical trial studies from 399,499 in 2022 to 437,533 across all 50 states and 221 countries. Furthermore, 140,492 studies, constituting 31%, were registered solely in the U.S., while non-U.S. locations recorded 53% of studies, amounting to 241,498 trials. The increase in clinical trials volumes, thus, stimulates the growth of the health economics and outcomes research services market.

Which Companies Are Leading in the Health Economics and Outcomes Research (HEOR) Services Market?
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

What Are the Major Trends Shaping the Health Economics and Outcomes Research (HEOR) Services Market?
The rise of improvements in real-world evidence platforms is a notable trend garnering interest in the health economics and outcomes research (HEOR) services market. Firms operating in the HEOR services market are embracing trailblazing technologies to revolutionize healthcare decisions, drug discovery, and patient care. They do this by harnessing real-world data to produce evidence-led conclusions and uphold their market standing. For example, Komodo Health, a pioneering American healthcare technology firm expert in real-world evidence (RWE) and data analysis, debuted MapEnhance in April 2023. MapEnhance, integrated into the RWE technology platform, is a network of specialty data partners that augments the analytical power of Komodo's Healthcare Map by adding select and deeply insightful data obtained from its partner network. MapEnhance equips customers with an exhaustive, in-depth real-world view on clinical occurrences and patient groups, facilitating unparalleled understanding.

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What Are the Top Revenue-Generating Geographies in 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.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Health Economics and Outcomes Research (HEOR) Services Market?
2. What is the CAGR expected in the Health Economics and Outcomes Research (HEOR) Services Market?
3. What Are the Key Innovations Transforming the Health Economics and Outcomes Research (HEOR) Services Industry?
4. Which Region Is Leading the Health Economics and Outcomes Research (HEOR) Services Market?

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