Consumer Insights
Uncover trends and behaviors shaping consumer choices today
Procurement Insights
Optimize your sourcing strategy with key market data
Industry Stats
Stay ahead with the latest trends and market analysis.
Report Overview
2023
Base Year
2017-2023
Historical Year
2024-2032
Forecast Year
Global Health Economics and Outcomes Research Market Outlook
The global health economics and outcomes research market size was valued at USD 1.56 billion in 2023, driven by the rising drug development and clinical trials across the globe. The market is expected to grow at a CAGR of 12.50% during the forecast period of 2024-2032, with the values likely to attain a value of USD 4.50 billion by 2032.
-market.png)
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
Health Economics and Outcomes Research: Introduction
Health economics and outcomes research (HEOR) refers to the services utilized by healthcare and pharma companies to find the value and cost-effectiveness of the products or techniques that may be applied in research and development. HEORs help by providing observational data, price comparison, and other market indicators to prominent companies, helping them make more informed and strategic decisions for their products, equipment, or services.
Global Health Economics and Outcomes Research Market Analysis
The COVID-19 outbreak has propelled significant demand for pharmaceuticals and vaccines in the market. As a result, the pharmaceutical industry has witnessed rapid growth in recent years. With the rising demand, prominent companies have started outsourcing drug development and approval services with a vision to reduce the scope of error, expediate the development process and combat the shortage of skilled professionals. This has contributed significantly to the health economics and outcomes research market growth.
With development of new drugs in the pharmaceutical industry, there has been a surge in the number of clinical trials required. Health economics and outcomes research help the clinical development by providing valuable information regarding specific drugs such as accessibility to the population and comparative pricing of rival drugs. The price for a new drug developed and revision of prices of existing drugs is done with the aid of HEOR services, which is providing impetus to the growth of industry.
The market growth is further driven by the rising number of mergers and acquisitions occurring amongst companies. In April 2023, Kaiser Permanente and Geisinger joined forces to launch a non-profit organization called Risant Health to expand access to value-based care. This organization aims at offering multipayer, multi-provider services, along with community-based health system environments. Such partnerships are expected to cater to the health economics and outcomes research market demand.
Global Health Economics and Outcomes Research Market Segmentation
-market-by-service.png)
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
Market Breakup by Service Type
- Health Economic Services
- Outcomes Research Services
Market Breakup by Applications
- Oncology
- Cardiovascular Diseases
- Infectious Diseases
- Neurology
- Others
Market Breakup by End User
- Pharmaceutical Companies
- Biotechnology Companies
- Healthcare Payers
- Healthcare Providers
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
-market-by-region.png)
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
Global Health Economics and Outcomes Research Market Overview
North America, especially the United States, has been laying significant emphasis on value-based care and pharmaceutical research. This can be accredited to the region having an active presence of many key players who are involved in pharmaceutical and healthcare research. Moreover, the region has also been facing expanding demand for new drugs and therapies owing to the high prevalence of cardiovascular diseases and diabetes among others. Such conditions have encouraged key companies to adopt external services to maximize profits and improve the quality of services. Hence, the region has held a substantial portion of the health economics and outcomes research market share.
Europe, with its robust healthcare infrastructure and strong economy, is increasingly adopting HEOR services. However, it is the Asia Pacific region that is expected to witness maximum growth during the forecast period. The region has been witnessing a high influx of capital from international players with a vision to utilize the region’s resources to the best potential. Countries like China and India, with a huge youth population, are increasingly inviting foreign investors to the region. Therefore, with such factors, we can anticipate the health economics and outcomes research market value to expediate in the upcoming years.
Global Health Economics and Outcomes Research Market: Competitor Landscape
The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:
- Pharmerit International
- ICON plc
- IQVIA
- Optum, Inc.
- Precision Xtract
- Cornerstone Research Group
- Xcenda
- Analysis Group
- Creativ-Ceutical
- HERON Group
- Oxford PharmaGenesis
- Cornerstone Research
- Evidera
- PRMA Consulting
- CHEORS
Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Service Type |
|
| Breakup by Applications |
|
| Breakup by End User |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
Read Our Top Selling Reports
Latin America In-vitro Diagnostics Market
Global Implantable Medical Devices Market
Shock Wave Therapy Device Market
Latin America Advanced Wound Care Market
Global Aortic Valve Replacement Devices Market
Global Acute Kidney Injury Treatment Market
Global JE (Japanese Encephalitis) Vaccine Market
North America Laboratory Informatics Market
Global Laboratory Information System Market
South Africa Orthopaedic Braces and Supports Market
Health Economics and Outcomes Research (HEOR) Market Report Snapshots
Health Economics and Outcomes Research (HEOR) Market Size
Health Economics and Outcomes Research (HEOR) Market Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
Looking for specific insights?
Get in touch with us for a customized solution tailored to your unique requirements and save upto 35%!
Key Questions Answered in the Report
The market attained a value of about USD 1.56 billion in 2023, driven by increasing emphasis on drug development and clinical trials across the globe.
The market is anticipated to grow at a CAGR of 12.50% during the forecast period of 2024-2032, likely to reach a market value of USD 4.50 billion by 2032.
The market demand is driven by the increasing number of clinical trials for effective drug development and the rising focus of prominent companies to outsources services to as to expediate the drug development process, along with making it cost effective.
The current market trend includes the increasing mergers and acquisitions among several key companies. For instance, Kaiser Permanente and Geisinger announced their merger in April 2023, which aims at offering community-based healthcare services.
Major services include health economic services and outcomes research services.
The research finds wide applications in oncology, cardiovascular diseases, infectious diseases, and neurology, among others.
Major end users include healthcare providers, pharmaceutical and biotech companies, and healthcare payers.
The major regions of the market include North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America is currently leading the global market.
Key players involved in the market are Pharmerit International, ICON plc, IQVIA, Optum, Inc., Precision Xtract, Cornerstone Research Group, Xcenda, Analysis Group, Creativ-Ceutical, HERON Group, Oxford PharmaGenesis, Cornerstone Research, Evidera, PRMA Consulting and CHEORS.
Purchase Full Report
Datasheet
- Selected Sections, One User
- Printing Not Allowed
- Email Delivery in PDF
Free Limited CustomisationPost Sales Analyst Support50% Discount on Next Update
Single User License
One User
- All Sections, One User
- One Print Allowed
- Email Delivery in PDF
Free Limited CustomisationPost Sales Analyst Support50% Discount on Next Update
Five User License
Five Users
- All Sections, Five Users
- Five Prints Allowed
- Email Delivery in PDF
- Free Limited Customisation
- Post Sales Analyst Support
50% Discount on Next Update
Corporate License
Unlimited Users
- All Sections, Unlimited Users
- Unlimited Prints Allowed
- Email Delivery in PDF + Excel
- Free Limited Customisation
- Post Sales Analyst Support
- 50% Discount on Next Update
How To Order
Our step-by-step guide will help you select, purchase, and access your reports swiftly, ensuring you get the information that drives your decisions, right when you need it.
Select License Type
Choose the right license for your needs and access rights.
Click on ‘Buy Now’
Add the report to your cart with one click and proceed to register.
Select Mode of Payment
Choose a payment option for a secure checkout. You will be redirected accordingly.
Gain insights to stay ahead and seize opportunities.
Get insights & trends for a competitive edge.
Track prices with detailed trend reports.
Analyse trade data for supply chain insights.
Leverage cost reports for smart savings
Enhance supply chain with partnerships.
Connect For More Information
Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.
Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.
We employ meticulous research methods, blending advanced analytics and expert insights to deliver accurate, actionable industry intelligence, staying ahead of competitors.
Our skilled analysts offer unparalleled competitive advantage with detailed insights on current and emerging markets, ensuring your strategic edge.
We offer an in-depth yet simplified presentation of industry insights and analysis to meet your specific requirements effectively.
Subscribe to our Newsletter
By subscribing you agree to with our privacy policy and provide
consent to
receive
updates
from our company.
Our Offices
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City,1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124