Health Economics and Outcomes Research (HEOR) Services Market Outlook 2025 – Insights for Executive and Strategic Planning
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How Has the Health Economics and Outcomes Research (HEOR) Services Market Grown from 2024 to 2025?
In recent years, the market size for Health Economics and Outcomes Research (HEOR) services has seen substantial growth. The sector is projected to expand from a valuation of $1.57 billion in 2024 to approximately $1.76 billion in 2025, recording a compound annual growth rate (CAGR) of 12.4%. This growth throughout the historic period can be accredited to factors such as the advent of evidence-based medicine, changes in healthcare policy and reforms, pharmaceutical advances, an aging population, and a rise in chronic diseases.
What Growth Rate Is Anticipated for the Health Economics and Outcomes Research (HEOR) Services Market in the Coming Years?
The market size of the health economics and outcomes research (HEOR) services is anticipated to experience significant growth in the years to come. By 2029, it is projected to be worth $2.79 billion, with an impressive compound annual growth rate (CAGR) of 12.2%. The said growth during the forecasting period could be due to the optimization of the healthcare supply chain, concentration on health disparities, an increase in value-based arrangements, developments in digital health and telemedicine, and a shift towards personalized medicine. Notable trends during the forecast period are the inclusion of social determinants of health, the role of HEOR in rare diseases and orphan drugs, the assessment of patient-driven outcomes, the standardization of value frameworks, and the quick generation of real-world evidence.
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Who Are the Leading Companies 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 Key Drivers of the Health Economics and Outcomes Research (HEOR) Services Market?
The health economics and outcomes research services market is anticipated to experience significant growth thanks to the rising number of clinical trials. These trials, which involve using human participants to measure the safety and effectiveness of new medical procedures or treatments, are imperative in healthcare. Services offered by health economics and outcomes research (HEOR) play a crucial role in evaluating the clinical trials associated with the economic impact, cost-effectiveness, and real-world outcomes of medical interventions. These evaluations offer indispensable insights for decision-making processes and reimbursement strategies. As an example, the United States National Library of Medicine noted a boost in the number of registered studies for clinical trials from 399,499 in 2022 to 437,533 throughout 50 states and 221 nations by May 2023. It was also noted that 140,492 of these studies (31%) were U.S. only, whilst 241,498 studies (53%) were conducted in non-U.S. locations. Consequently, the escalating number of clinical trials is a key driver for the expansion of the health economics and outcomes research services market.
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What Are the Key Market Segments in the Health Economics and Outcomes Research (HEOR) Services Industry?
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
What Are the Latest Trends in the Health Economics and Outcomes Research (HEOR) Services Market?
In the health economics and outcomes research (HEOR) services market, the key trend emerging is the evolution of platforms based on real-world evidence. Main corporations in this market are incorporating cutting-edge technologies to revolutionize healthcare decision-making, drug advancement, and patient care. They are utilizing real-world data to derive fact-based insights, thereby maintaining their market stance. For example, Komodo Health, an American healthcare tech firm expert in real-world evidence (RWE) and data analytics, introduced MapEnhance in April 2023. This is a collection of specialized data partners incorporated into a real-world evidence technology platform. The latest platform improves Komodo’s Healthcare Map’s analytical abilities by integrating unique and richly informative data garnered from its partner network. MapEnhance equips customers with a comprehensive, in-depth real-world view of clinical events and patient demographics, facilitating unparalleled insight.
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What Are the Key Regional Markets in the Health Economics and Outcomes Research (HEOR) Services Industry?
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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This Report Delivers Insight On:
1. How big is the health economics and outcomes research (heor) services market, and how is it changing globally?
2. Who are the major companies in the health economics and outcomes research (heor) services market, and how are they performing?
3. What are the key opportunities and risks in the health economics and outcomes research (heor) services market right now?
4. Which products or customer segments are growing the most in the health economics and outcomes research (heor) services market?
5. What factors are helping or slowing down the growth of the health economics and outcomes research (heor) services market?
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