Pune, India, May 11, 2022 (GLOBE NEWSWIRE) --
The global HEOR services market size is slated to show tremendous growth during the forecast timeframe, as the healthcare sector is expanding at a promising rate owing to the rising demand for innovative medicines and treatments that can reduce the incidence of various chronic diseases. Many pharma companies are increasing their clinical research trials in this regard, thereby positively influencing the global health economics and outcomes research (HEOR) services market growth.
Below mentioned are the trends expanding the global HEOR services market size during the forecast timeframe of 2022-2028:
Asia Pacific (regional valuation may cross $371 million):
Use of clinical outcome services to analyze patient care quality:
Clinical outcome services generated a revenue of over $51 million for APAC HEOR services market in 2021. The demand for these services is increasing at a steady rate as they can maintain accountability and transparency between medical professionals and patients.
These services consist of various tools that can help healthcare workers assess the effect of medical services on the outcomes and can offer patients a wide range of informed choices for their treatment. The clinical outcome services can assist doctors in improving their practice, thereby enhancing their uptake among them.
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Consultancy service providers highly demanded by end-users:
The regional market size from the consultancy service provider segment is expected to register 14.7% CAGR through 2028. Medical consultancies are offering various solutions and strategies to help businesses grow and achieve patient satisfaction. Consultancy services form a vital part of healthcare companies as they provide valuable insights that can help their clients make sound decisions that not only increase their profitability and reduce their costs, but also improve the overall quality of patient care. Technological advancements have made these services remotely accessible, which may accelerate their adoption among end-users.
Government organizations support the use of HEOR solutions:
The government organization segment held 17% of the regional industry share in 2021. These organizations are extensively using HEOR services as they provide important data to healthcare workers and medical decision makers to make optimum use of their resources.
As per the Professional Society for Health Economics and Outcomes Research (ISPOR), Pharmacoeconomics is considered as the main pillar while deciding on health insurance, medical policies, technologies, import/export of pharma products, and reimbursements under the Central and State government schemes in India.
North America (regional valuation may go past $893 million):
Real-world data services form a vital part in medical decision-making:
The real-world data (RWD) analysis & information systems segment accounted for more than $65 million revenue in the regional market in 2021. RWD services produce real-world evidence (RWE) to offer important information and help healthcare service providers make sound decisions with respect to various medical investments. RWD solutions can also assist in clinical trial findings and fill the knowledge deficit with respect to the practicality of a new medicine, which will drive their demand.
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CROs may emerge as the main service providers:
The North America HEOR services market size from Contract Research Organizations (CROs) is set to observe 12% CAGR through 2028. CROs support pharmaceutical, biotechnology, and medical device sectors by outsourcing the research services on a contractual basis. In addition, the demand for pre-clinical and clinical services will increase the number of CROs across the region.
Biotech & pharma companies to increase dependence on HEOR services:
The biotech & pharma companies segment captured nearly 37% of the overall market share in 2021 as there is a strong presence of reputed pharma companies across the region. Moreover, the demand for value-based care and precision medicine is growing at a commendable rate, which has helped HEOR services hold a key position in several pharma businesses. The collaborations between distributors, drugmakers, and pharma organizations is increasing, which will enhance the adoption of HEOR services.
Europe (regional valuation anticipated to surpass $732 million):
Adoption of economic modeling & evaluation services to reduce medical costs:
The economic modeling & evaluation services segment generated around $80.4 million revenue for the Europe HEOR services market in 2021 due to the high demand for reducing the overall cost of various healthcare solutions.
The services can also be used to prepare an effective economic impact analysis model to help end-users understand the feasibility of their medical decisions. The economic modeling & evaluation services are affordable as they offer valuable data and its evidence from various sources to get a deeper insight into the economic viability of a particular decision.
Access sample pages of the report, “Europe Health Economics & Outcomes Research (HEOR) Services Market Forecasts 2028” in detail along with the table of contents (ToC) @
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Germany HEOR services market share grows significantly:
Germany market size is projected to exhibit more than 12% CAGR through 2028 as there is high awareness and adoption of these services to create a customized yet affordable model for new product launches. The country’s government is launching supportive policies and initiatives to encourage pharma and biopharma companies to adopt HEOR solutions and increase their research and development activities.
Healthcare payers increase their reliance on HEOR services:
The healthcare payers segment accounted for $94.3 million in the overall industry in 2021 due to the high dependence of these end-users on HEOR services. The reason for this trend is that the focus is shifting to increased patient-driven healthcare system, affordable reimbursements, and high use of personalized medicines and targeted treatments. HEOR services can bring in operational efficiency and reduce the overall costs of healthcare services through the introduction of smart technologies like IoT, which may elevate their demand among healthcare payers.
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