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HEOR Services Market Size

Report ID: GMI3145
Published Date: Dec 2022
Report Format: PDF

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HEOR Services Market Size

Health Economics & Outcomes Research Services Market size was valued at over USD 1 billion in 2022. The industry is estimated to grow at more than 14% CAGR from 2023 to 2032 driven by growing healthcare concerns in the post-pandemic.

Health Economics & Outcomes Research Services Market

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One of the primary factors driving the expansion of the health economics and outcomes research services industry is the increasing focus of pharmaceutical and biotechnology companies on the development of novel drugs for the treatment of different chronic conditions. For instance, the Center for Drug Evaluation and Research (CDER) approved 50 new drugs in 2021. Additionally, the number of businesses gaining drug approvals has increased over time, which has been advantageous for the expansion of the overall industry.

The strong growth of clinical trials is also contributing to the HEOR services market growth. Health economics and outcomes research supplement clinical drug trials by giving crucial information and research data, assisting decision-makers and healthcare payers in determining patient access to specific medication trials. The success rate of new drugs in some European nations, such as the Netherlands, the UK, and others is very high. Infact, each year, approximately 4,000 clinical trials are approved in Europe.

HEOR Services Market Report Attributes
Report Attribute	Details
Base Year:	2022
HEOR Services Market Size in 2022:	USD 1 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	14.3%
2032 Value Projection:	USD 3.69 Billion
Historical Data for:	2018 to 2022
No. of Pages:	151
Tables, Charts & Figures:	171
Segments covered:	Service, Service Provider, End-user, and Region
Growth Drivers:	Surge in number of clinical trials globally Focus of pharma & biotech companies on new drug development Increasing R&D expenditure worldwide Growing outsourcing of R&D activities
Pitfalls & Challenges:	Lack of skilled healthcare professionals in developing and underdeveloped economies

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Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Global HEOR Services market revenue was crossed USD 1 billion in 2021 and is set to progress at more than 14% CAGR through 2032 owing to increasing focus of pharmaceutical and biotechnology companies on the development of novel drugs for the treatment of various chronic conditions.

The overall market revenue from healthcare payers is anticipated to reach USD 1.2 billion in revenue by the end of 2032 due to benefits such as increased consumer-driven healthcare, and rising usage of specialty medications & targeted therapies.

The consultancy segment is poised to depict the growth of over 14.5% between 2023 and 2032 driven by increasing preference for consulting services that support decision-making and provide appropriate business solutions.

The Asia Pacific health economics & outcomes research services market is slated to expand at more than 15.5% CAGR over 2023-2032 on account of the huge population base and favorable regulatory environment in the region.