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HEOR Services Market Forecast Report 2026: Revenue and Outlook by Industry Players

Author : Ronak Bora | Published Date : 2020-09-07 

HEOR Services Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

Increasing burden on the global healthcare economy is expected to fuel health economics and outcomes research (HEOR) services market forecast. Biotechnology and pharmaceutical industries worldwide are rigorously investing in R&D activities to develop new drugs. They are also conducting numerous clinical trials which may up the demand for HEOR services. According to the National Institute of Health, in 2018, the U.S. government invested USD 5,207 million in clinical trials and USD 13,870 million in clinical research and supporting activities.

Indeed, increasing burden of drug expenditure on payer’s healthcare budget has emerged as a key challenge in numerous regions. This has led to the need for efficient HEOR practices to provide the best possible health outcomes at affordable costs. Today, healthcare payers rely on HEOR services due to the increasing preference for value-based reimbursement and surging use of therapies and drugs in developed nations.

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By leveraging HEOR services, organizations could monitor healthcare spending, price transparency, healthcare coverage, drug pricing, value-based payment models and digital advancements. With surging significance among healthcare payers, GMI, predicts that the global HEOR services market could exceed USD 1.7 billion by 2026.

Speaking of the service segment, the clinical outcome segment registered a valuation of approximately $250 million in 2019. Clinical results generally involve tools used to evaluate the effect of healthcare interventions on patients. This web-based software stores information/data that is provided by patients and verified by clinicians to predict healthcare expenditure of a patient.

The availability of clinical outcome software such as the clinical reported outcomes and the observer reported outcomes would further help the healthcare market monitor the clinical impact on a wider level. Attributing to this factor, it is slated that the clinical outcome segment would observe heavy growth over the forecast timespan.

Considering the end-user segment, government organizations are likely to lead the segment growth in the future. These organizations have been increasingly taking efforts for product pre-approvals, pharmaco-economics, and payer’s investments.

In addition, organizations such as ISPOR, ISOQOL, and AMCP are increasingly working for the marketing and development of HEOR services to improve adoption across the healthcare sector. Observing this growth, studies suggest that the government organization segment would grow at a healthy CAGR of around 10.5% by 2026.

On the geographical front, Europe HEOR services market is slated to observe lucrative growth rate as well as create new opportunities of investment. The regional industry landscape recorded revenues of more than $250 million in 2019. Generally, European countries have a higher adoption rate for advanced treatments, therapies, and drugs, which would serve to be a prominent impact rendering factor that promotes strong business growth.

Increasing awareness regarding HEOR services among pharmaceutical firms has led to several changes in the Europe drug and treatment regulations. These changes for making healthcare services accessible would provide new growth opportunities for the Europe HEOR services market.

Presently, firms such as Axtria, Cardinal Health, Pharmaceutical Product Development, Optum, McKesson Corporation, ICON, Syneos Health, and RTI Health Solutions are presently at the forefront of the HEOR services market. These companies are adopting various organic as well as inorganic strategies to set themselves apart from the competition in the industry. 

Browse full table of contents (TOC) of this report @ https://www.gminsights.com/toc/detail/health-economics-and-outcomes-research-heor-services-market

Partial Chapter of the Table of Content 

Chapter 3. HEOR Services Industry Insights

3.1. Industry segmentation

3.2. Industry landscape, 2015 – 2026

3.3. Industry impact forces

3.3.1.    Growth drivers

3.3.1.1.    Surge in number of clinical trials globally

3.3.1.2.    Focus of pharma & biotech companies on new drug development

3.3.1.3.    Increasing R&D expenditure worldwide

3.3.1.4.    Growing outsourcing of R&D activities

3.3.2.    Industry pitfalls and challenges

3.3.2.1.    Lack of skilled healthcare professionals in developing and underdeveloped economies

3.4. Growth potential analysis

3.4.1.    By service

3.4.2.    By service provider

3.4.3.    By end-user

3.5. Health technology assessment (HTA) overview

3.6. Porter’s analysis

3.7. Competitive landscape, 2018

3.7.1.    Competitive matrix analysis, 2018

3.8. PESTEL analysis

Chapter 4. HEOR Services Market, By Service

4.1. Key segment trends

4.2. Economic modelling/evaluation

4.2.1.    Market size, by region, 2015 - 2026 (USD Million)

4.3. Real-world data analysis & information systems

4.3.1.    Market size, by region, 2015 - 2026 (USD Million)

4.4. Clinical outcome

4.4.1.    Market size, by region, 2015 - 2026 (USD Million)

4.5. Market access solutions & reimbursement

4.5.1.    Market size, by region, 2015 - 2026 (USD Million)

4.6. Others

4.6.1.    Market size, by region, 2015 - 2026 (USD Million)

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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