Published Date: Oct 2024 | Report ID: MI1171 | 220 Pages
The North America Health Economics Outcomes Research Services market accounted for USD 0.6 Billion in 2024 and is expected to reach USD 2.45 Billion by 2035, growing at a CAGR of around 13.5% between 2025 and 2035. The North America Health Economics Outcomes Research (HEOR) Services Market refers to a set of activities that are commissioned to assess the economic and health-related outcomes of healthcare products. This market consists of services like cost and cost-effectiveness analysis, budget impact, and health-related quality of life assessment. Stakeholders of the drug and molecular delivery systems are the pharmaceutical manufacturers, healthcare providers, and third-party payers, all of whom want to efficiently use their resources effectively to benefit patient outcomes. New advances in data analysis and real-world evidence collection continue to expand the functions of HEOR providers to be essential tools for strategic decision-making in healthcare systems.
| Parameter | Details |
|---|---|
| Largest Market | United States |
| Fastest Growing Market | Canada |
| Base Year | 2024 |
| Market Size in 2024 | USD 0.6 Billion |
| CAGR (2025-2035) | 13.5% |
| Forecast Years | 2025-2035 |
| Historical Data | 2018-2024 |
| Market Size in 2035 | USD 2.45 Billion |
| Countries Covered | U.S. and Canada |
| 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 over 10 companies |
| Segments Covered | Service Type, Service Providers, End User and Country |
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The increasing demand for cost-effective analysis drives the North America Health Economics Outcomes Research Services market. Pharmaceutical corporations are being forced to invest more and more in health economics and outcomes research studies because of a predicted trend toward value-based healthcare, where patients' economic expenses are equal and there is significant regulatory pressure to demonstrate the economic benefit of novel treatments.
Growing rates of chronic illnesses also necessitate more intelligent use of healthcare resources, where proper economic analysis is becoming more and more important. According to the University of California, San Francisco, nearly 30% of healthcare dollars spent in the United States are deemed wasteful. For this reason, market information should be critical to guide every decision regarding payers, providers, and policymakers.
Several major driving forces have been identified in the North America Health Economics Outcomes Research Services market. The increasing emphasis on value-based healthcare makes it imperative for stakeholders within this system to evaluate the economic impact and determine patient outcomes from treatments more rigorously. Meanwhile, advancements in data analytics and modeling techniques are making HEOR studies more accurate and reliable by informing payers and providers.
In addition, the increased prevalence of chronic diseases necessitates the evaluation of effective resource allocation using comprehensive economic evaluations. Various regulatory pressures as well as the increasing demand from healthcare stakeholders for real-world evidence are responsible for boosting the growth of this market. Even pharmaceutical companies have increasingly turned to HEOR service providers to promote innovative approaches to health economics research.
Limited budgets of healthcare providers greatly constrain the North America Health Economics Outcomes Research Services Market. Under increased financial pressure, providers may always tend to prioritize essential services over HEOR, which is usually regarded as a secondary investment. This shift can result in reduced funding for critical research activities assessing the cost-effectiveness and value of healthcare interventions.
The budget restrictions may also limit the involvement of specialized HEOR staff and reduce the quality and scope of research. As such, it may affect the key players in the healthcare industry as well as the market's overall growth potential for HEOR services in North America.
The adoption of AI in predictive modeling and data analysis constitutes a major opportunity for the North America Health Economics Outcomes Research (HEOR) services market. Organizations can utilize advanced algorithms and machine learning to improve the accuracy of health outcome predictions, accelerate data collection, and make resource allocation more efficient.
This technological advancement will enable a more nuanced understanding of treatment effectiveness and cost-efficacy, allowing improved decision-making for stakeholders, including healthcare providers and policymakers. As the demand for evidence-based strategies rises, AI-driven HEOR services will place organizations at the forefront of the changes in the healthcare landscape and increasingly allow better patient outcomes with cost control.
The growing trends in sustainably delivering effective health care create a significant opportunity for the North America Health Economics Outcomes Research (HEOR) services market. As the population becomes more concerned with green issues along with more typical measures of health status, there is a growing need for assessments of the environmental footprint of treatment.
Such a change not only adds to the authority and reliability of healthcare systems as an industry but also complies with the existing tendency toward global sustainability. In this way, HEOR can contribute to resolving the problem of decision-makers not understanding how environmental considerations can be integrated into economic evaluations, thus increasing demand for new analytical tools in the market and improving public health.
"Incorporating real-world evidence is crucial for demonstrating the true effectiveness of healthcare interventions."
Based on the Service type, the North American Health Economics Outcomes Research Services market has been classified into Economic Modelling, Health Outcomes Assessment, Real-World Evidence Generation, Health Technology Assessment (HTA) Support, Market Access Consulting, and Others. In the North American Health Economics Outcomes Research Services Market, real-world evidence generation has with it the broadest segmentation. The transition toward value-based care in healthcare systems is driven by the growing need for data based on real patient experiences and treatment outcomes. The consideration of real-world evidence will help stakeholders, including payers and providers, make prudent decisions concerning the effectiveness and cost-effectiveness of treatment and the quality of life of patients. It helps them shape policy and market access strategies accordingly.
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Based on the Service Providers, the North American Health Economics Outcomes Research Services market has been classified into Consulting Firms, Contract Research Organizations (CROs), and Others. The largest share of the North American Health Economics Outcomes Research (HEOR) services market is composed of consulting firms. They are the lifeblood of pharmaceutical and biotech companies when it comes to defining strategic insights, cost-effectiveness analysis, and market access strategies. They enable a client's use of their expertise in navigating the extremely convoluted healthcare landscapes and regulatory environments such that products can amply demonstrate value to both payers and providers. They have emerged as having the capability to hold the all-important key to optimizing resource allocation and informing decision-making in healthcare by offering a well-rounded approach toward integrating health economics with clinical data.
The United States is the largest and most dynamic country landscape for the North American Health Economics and Outcomes Research (HEOR) services market. The healthy pharmaceutical and biotechnology sector, along with the imperative demand for cost-effectiveness analyses, real-world evidence, and value-based healthcare solutions, underpins the demand for HEOR services.
Unavoidable regulatory authorities, the FDA and CMS, define HR operations and emphasize the importance of economic evaluations in decision-making. Digital health technologies further enhance the capacities for data collection and analysis while positioning the United States at the apex of new developments for HEOR on the continent of North America.
The landscape for the North America Health Economics and Outcomes Research (HEOR) services market in Canada is characterized by having a publicly funded healthcare system costing and value-for-money assessments are underlined. So, provincial authorities are key decision-makers and demand rigorous economic evaluations to underpin policies and fund allocations.
Innovation in methodologies for HEOR increases because greater collaborations between academics, industry, and government exist today than before. Increasing importance on health equity and patient-reported outcomes means that HEOR services must support these broader healthcare goals.
The North America Health Economics Outcomes Research (HEOR) Services market is highly competitive. Mediant Health Resources and Truist Advisory Services are significant participants in this market. While Pharmerit International and Kantar Health primarily concentrate on market access methods, companies like Zynx Health and The Kinetix Group concentrate on creative solutions designed to demonstrate therapeutic value.
Deep industry expertise vouchsafes high-value insights in HEOR offered by established players like Bain & Company and Deloitte Consulting. Value-based care coupled with advanced analytics is driving competition, on the other hand. Regulatory changes and data protection pose challenges to the players, however. Nonetheless, regional players are called upon to collaborate and innovate in such a dynamic market to cater to the needs of diverse healthcare stakeholders.
North America Health Economics Outcomes Research (HEOR) Services Market, Company Shares Analysis, 2024
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By Service Type
By Service Providers
By End User
By Region
North America
List of Companies:
The North America Health Economics Outcomes Research Services market accounted for USD 0.6 Billion in 2024 and is expected to reach USD 2.45 Billion by 2035, growing at a CAGR of around 13.5% between 2025 and 2035.
Utilizing AI for predictive modeling and data analysis can improve efficiency and accuracy, increasing focus on sustainable healthcare practices may drive demand for HEOR analyses that evaluate environmental impacts, Assessing the economic impact of digital health tools can create niche markets within HEOR.
Service type is currently leading in the North American Health Economics Outcomes Research Services Market due to real-world evidence. Real-world evidence generation encompasses a wide range of segmentation. The shift towards value-based care in healthcare systems is fueled by an increasing demand for data reflecting actual patient experiences and treatment results. By incorporating real-world evidence, stakeholders such as payers and providers can make informed decisions regarding treatment effectiveness, cost-effectiveness, and patient quality of life.
The United States is expected to remain the dominant country. The United States represents the largest and most dynamic landscape for the North American Health Economics and Outcomes Research (HEOR) services market. Driven by a robust pharmaceutical and biotechnology sector, the demand for HEOR services is fueled by the need for cost-effectiveness analyses, real-world evidence, and value-based healthcare solutions.
Canada is the Fastest-growing country in North America in the Health Economics Outcomes Research Services Market. Canada’s landscape for the Health Economics and Outcomes Research (HEOR) services market is characterized by its publicly funded healthcare system, which emphasizes the need for cost-effectiveness and value-based assessments. Provincial healthcare authorities play a significant role in decision-making, driving demand for rigorous economic evaluations to inform policy and funding decisions.
Key operating players in the North American Health Economics Outcomes Research Services market are Mediant Health Resources, Truist Advisory Services, and Analysis Group, each offering specialized consulting and analytical services. Firms like Zynx Health and The Kinetix Group emphasize innovative solutions tailored to demonstrate treatment value, while Pharmerit International and Kantar Health focus on real-world evidence generation and market access strategies.
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