Global Health Economics and Outcomes Research (HEOR) Services Market Forecast 2029: Size, Share, and Competitive Landscape
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What Are The Market Size Estimates For The Health Economics and Outcomes Research (HEOR) Services Market?
The market size for health economics and outcomes research (heor) services has seen a swift expansion in the past few years. The growth is predicted to continue from $1.57 billion in 2024 to $1.76 billion in 2025, reflecting a compound annual growth rate (CAGR) of 12.0%. This growth during the historic period can be traced back to factors such as the rise of evidence-based medicine, reforms in the healthcare policy, innovations in the pharmaceutical industry, increasing age of the population, and a rise in chronic diseases.
It’s projected that the market size for health economics and outcomes research (heor) services will experience a swift escalation in the coming years, increasing to $2.78 billion by 2029, marking a compound annual growth rate (CAGR) of 12.1%. Factors contributing to this prospective growth during the forecast period can be linked to the optimization of the healthcare supply chain, a concentration on health disparities, a surge in value-based agreements, the integration of digital health and telemedicine, and the transition towards personalized medicine. Some emerging trends during this forecast period incorporate social determinants of health into corporate policies, the application of HEOR in the study of rare diseases and orphan drugs, an assessment focused on patient-centric outcomes, standardization of the value framework, and the fast-paced generation of real-world evidence.
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Which Industry Forces Are Driving The Health Economics and Outcomes Research (HEOR) Services Market Forward?
The health economics and outcomes research services market’s growth is expected to be fueled by the rising quantity of clinical trials. These clinical trials are research studies that involve human participants for the purpose of assessing the safety and efficacy of new medical treatments, interventions, or diagnostic procedures. Health economics and outcomes research (HEOR) services, which assess the economic impact, cost-effectiveness, and real-world outcomes of medical interventions, are used during these studies. They offer vital input for decision-making and reimbursement strategies. For example, in May 2023, the United States National Library of Medicine reported that the total number of registered clinical trial studies climbed from 399,499 in 2022 to 437,533 across all 50 states and 221 countries. The reports also showed that 140,492 studies (31%) were registered solely in the U.S., while 241,498 studies (53%) were tracked in locations outside the U.S. Consequently, the increase in the number of clinical trials is augmenting the growth of the health economics and outcomes research services market.
How Is The Health Economics and Outcomes Research (HEOR) Services Market Organized By Different Segments?
The health economics and outcomes research (heor) servicesmarket 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
What Key Trends Are Driving Growth In The Health Economics and Outcomes Research (HEOR) Services Market?
Significant progress in real-world evidence platforms is a notable trend gaining traction in the health economics and outcomes research (HEOR) services market. Leading companies within the sector are employing innovative technologies to revolutionize healthcare decision-making, drug innovation, and patient care by utilizing real-world data to produce evidence-backed insights and maintain their market standing. For instance, Komodo Health, a US healthcare technology firm with expertise in real-world evidence (RWE) and data analytics, introduced MapEnhance in April 2023. This is a network of specialized data partners incorporated into a real-world evidence (RWE) technology platform. This new platform bolsters the analytical strength of Komodo’s Healthcare Map by adding unique and highly useful data gathered from its affiliate network. MapEnhance equips customers with an extensive and detailed real-world view of clinical events and patient demographics, fostering unparalleled understanding.
Who Are The Primary Market Leaders 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
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How Do Regional Dynamics Influence The Health Economics and Outcomes Research (HEOR) Services Market Performance?
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.
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