Published Date: Sep 2024 | Report ID: MI1078 | 218 Pages
The Health Economics Outcomes Research (HEOR) Services market accounted for USD 1.6 Billion in 2024 and is expected to reach USD 6.26 Billion by 2035, growing at a CAGR of around 13.2% between 2025 and 2035. Health Economics Outcomes Research (HEOR) services are the evaluation of the comparative economic and health outcomes of medical treatments and effects of healthcare policies. To evaluate the worth and effects of complicated healthcare services and products, HEOR combines clinical research and economic analysis. Its applications frequently involve cost-effectiveness analysis and the creation of data and evidence from actual situations. Medical therapies impact patient health and system costs, the providers use HEOR services data to evaluate treatment effectiveness and financial efficiency. HEOR illustrates the need for a full value proposition in forming strategies and influencing reimbursement policies in the broader healthcare industry.
| Parameter | Details |
|---|---|
| Largest Market | North America |
| Fastest Growing Market | Europe |
| Base Year | 2024 |
| Market Size in 2024 | USD 1.6 Billion |
| CAGR (2025-2035) | 13.2% |
| Forecast Years | 2025-2035 |
| Historical Data | 2018-2024 |
| Market Size in 2035 | USD 6.26 Billion |
| Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, Switzerland, Sweden, Finland, Netherlands, Poland, Russia, China, India, Australia, Japan, South Korea, Singapore, Indonesia, Malaysia, Philippines, Brazil, Argentina, GCC Countries, and South Africa |
| What We Cover | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PESTLE analysis, value chain analysis, regulatory landscape, pricing analysis by segments and region, company market share analysis, and 10 companies with scope for including additional 15 companies upon request |
| Segments Covered | Service Type, Service Providers, End User, and Region |
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The increased interest in personalized medicine is contributing to the expansion of the Health Economics Outcomes Research (HEOR) services market. Personalized treatments are becoming more common in healthcare systems, these treatments are expensive, and it is important to demonstrate that the higher expenses need to be justified. Healthcare workers can make better decisions using HEOR services, which also give payers valuable information for payment choices.
Furthermore, since regulatory bodies need proof of value, the launch of HEOR offers a priceless tool to prove value, which will encourage the expansion of HEOR services. Overall, the focus on personalized medicine is changing the scope of health economics and the importance of the HEOR services market.
Regulatory challenges and variation across regions are significant barriers to delayed project delivery in the HEOR (Health Economics Outcomes Research) services market. Each jurisdiction has its regulations on how to collect, analyze, and report the data. These regulatory timelines may limit a company's ability to develop consistent strategies to follow.
Furthermore, variation in what is considered acceptable as evidence can lead to lengthy approval times for studies or products, thereby delaying timelines of product costs and market access to new treatments/technologies at scale. These barriers will impact patients, opportunities for market growth, and the timely completion of projects. Overall, these company challenges may create ambiguities when the leadership team is planning HEOR projects.
The emergence of digitized health data provides an important opportunity for the Health Economics Outcomes Research (HEOR) Services Market. These allow healthcare researchers to analyze large datasets and use advanced statistical methods to understand the costs of medical treatment. By analyzing, they can evaluate new therapies more effectively, helping healthcare providers make informed decisions about disease management.
The availability of the data will also permit significant evaluations that will support payers and policymakers as they seek to understand the economic implications of medical therapeutic interventions. The accessibility to use large and robust datasets and handle complex analytic processes will enhance patient outcomes and provide more effective use of healthcare dollars, which enhances the worth of HEOR services.
“Curavit's HEOR services will generate the real-world data required to make transformational digital medicines available and expand insurance coverage. The widespread adoption of these ground-breaking treatments will be greatly aided by their decentralized trials' rigorous demonstration of better results and lower costs."
“Successful value creation for today’s complex assets requires assessment of multiple indication choices, alternative development paths, asset profiles, and clearly defined data requirements often demanded by a broad and global set of clinical, payer, and patient stakeholders.”
Based on the Service Type, the market of Health Economics Outcomes Research (HEOR) Services has been classified into Economic Modelling, Health Outcomes Assessment, Real-World Evidence Generation, Health Technology Assessment (HTA) Support, Market Access Consulting, and Others. The Health Technology Assessment (HTA) Support segment is the most dominant segment in the HEOR (Health Economics Outcomes Research) services market. HTA evaluates the economic value and effectiveness of new health technologies, making it a key factor for payers and regulators when they make decisions.
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This segment is important because of the higher demand for evidence-based assessments that shape reimbursement policies and access strategies for new health technologies. by healthcare systems and payers.
Based on the Service Providers, the market of Health Economics Outcomes Research (HEOR) Services has been classified into Consulting Firms, Contract Research Organizations (CROs), and Others. Contract research organizations (CROs) are the most dominant segment in the Health Economics Outcomes Research (HEOR) Services Market. CROs have deep expertise, a wealth of resources, and a substantial infrastructure to execute complex HEOR studies, giving them a unique position in the pharmaceutical and biotechnology industries. CROs are critical partners for demonstrating the value of new therapies, their ability to efficiently handle large data sets, and conduct real-world evidence studies make them dominant in this market.
The market for North American Health Economics Outcomes Research (HEOR) services is rapidly expanding as a result of the increasing focus on value-based care. The priorities for pharmaceutical companies and payers are shifting towards evidence of cost-effectiveness and patient outcomes. Notable trends include the increased reliance on real-world evidence and advanced analytics to support pricing and reimbursement decisions.
The accelerating adoption of personalized medicine and digital health solutions, which require more robust economic evaluations, is also a major driver of market demand. In general, the pace of change is fast, and collaborative work among industry, academia, and healthcare delivery is becoming increasingly common.
The Health Economics Outcomes Research (HEOR) services market in Europe is witnessing considerable expansion as the need for evidence-based decision-making in healthcare continues to rise. Through evaluating value-based care, policymakers, pharmaceutical companies, and healthcare providers commit their resources to HEOR services.
The UK, Germany, and France are currently the main focus for HEOR services and tend to have HEOR concentrated in regions where strong research institutions are present and there is a collaborative ecosystem. In addition, digital health and real-world evidence are evolving and shaping the European market, which allows for innovative HEOR options.
The Health Economics Outcomes Research (HEOR) Services Market is becoming increasingly competitive. IQVIA, Paraxel, ICON Plc, and Pharmerit International are the major competitors in the HEOR Market. Recently, for instance, IQVIA has expanded its HEOR capabilities by integrating AI-based analytics, which allows for quicker insights.
Parexel has been building its global footprint through partnerships with pharmaceutical companies to incentivize a value-based healthcare system. Health technology assessments (HTA) and other regulatory bodies require more detailed economic evidence for both drug approvals and reimbursement decisions, so competition in the HEOR services market among these companies will continue to grow.
Health Economics Outcomes Research (HEOR) Services Market, Company Shares Analysis, 2024
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By Service Type
By Service Providers
By End Users
By Region
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
List of Companies:
The Health Economics Outcomes Research (HEOR) Services market accounted for USD 1.6 Billion in 2024 and is expected to reach USD 6.26 Billion by 2035, growing at a CAGR of around 13.2% between 2025 and 2035.
Key growth opportunities in the Health Economics Outcomes Research (HEOR) Services market include HEOR-driven frameworks for precision oncology treatment decision-making based on genetic profiling data, the rising importance of patient-reported outcomes creating demand for specialized HEOR services, increasing healthcare digitization enables access to vast datasets for comprehensive economic evaluations.
The service type is currently leading in the Health Economics Outcomes Research (HEOR) Services Market due to The Health Technology Assessment (HTA). Health Technology Assessment (HTA) analyzes the economic value and effectiveness of new health technologies, playing a crucial role for payers and regulators in their decision-making processes. This area is significant due to the increasing demand for evidence-based evaluations that influence reimbursement policies and access strategies for new health technologies within healthcare systems and payers.
North America is expected to remain the dominant region due to the growing emphasis on value-based care, leading pharmaceutical companies and payers to prioritize evidence of cost-effectiveness and patient outcomes. Key trends include a greater dependence on real-world evidence and advanced analytics to inform pricing and reimbursement choices.
Europe is the fastest-growing region in the Health Economics Outcomes Research (HEOR) Services Market due to the demand for evidence-based decision-making in healthcare is increasing. By assessing value-based care, policymakers, pharmaceutical companies, and healthcare providers are dedicating their resources to Health Economics and Outcomes Research (HEOR) services.
Key operating players in the Health Economics Outcomes Research (HEOR) Services market are IQVIA, Paraxel, ICON Plc, and Pharmerit International. IQVIA is the dominant player in the Health Economics Outcomes Research (HEOR) Services market, leveraging its extensive data analytics capabilities and global reach. Its comprehensive suite of services and strong client relationships position it as a leader in delivering evidence-based insights to healthcare stakeholders.
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