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The HEOR services industry is expected to register a CAGR of around 13% between 2022 and 2028, propelled by the growing number of clinical trials and drug delivery services.

Selbyville, Del., Feb. 22, 2022 (GLOBE NEWSWIRE) —

Global Health Economics and Outcomes Research Services market value is expected to surpass $2 billion by 2028, according to a new research report from Global Market Insights Inc. HEOR service providers’ growing focus on delivering optimal health outcomes to patients at an affordable cost will fuel the global outlook for industry.

In recent times, pharmaceutical and biotechnology companies are increasingly outsourcing research and development activities as part of a strategy to gain an advantage in a competitive market. Outsourced R&D activities range from basic research to advanced development, and include genetic engineering, target validation, assay creation, hit discovery and lead optimization (hit candidates as a service) , safety and efficacy evaluations in animal and human models. clinical tests. Additionally, pharmaceutical companies strive to improve and accelerate every step of early drug development to increase the success rate of drug discovery programs and reduce R&D costs.

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The clinical outcomes segment exceeded USD 304 million in 2021. The demand for clinical outcomes has increased as it allows patients to assess their own health and quality of life. It also helps to examine the efficacy, morbidity, mortality and function of treatment. These aforementioned factors will propel segmental demand into the expected timeline.

Some major findings of the Health Economics and Outcomes Research (HEOR) Services Market report include:

  • The increase in the number of clinical trials worldwide will propel the progress of the market.

  • The growing interest of biotech and pharmaceutical companies in developing new drugs is one of the factors driving the expansion of the industry.

  • Growing demand for secure services including clinical and pre-clinical testing as well as expertise in regulatory affairs is one of the significant factors driving the business landscape.

  • However, the lack of qualified medical professionals, coupled with restrictions on access to real-world data (RWD), will hamper the expansion of the market.

  • The COVID-19 pandemic has moderately impacted the market. Amid the pandemic, HEOR professionals have been extensively involved in studying issues such as the incidence of the disease and its health consequences, the economic impacts of the disease, and treatment options such as vaccines and therapies.

Browse key industry information spread over 136 pages with 159 market data tables and 15 report figures and graphs, “Health Economics and Outcomes Research Services Market Analysis by Service (Real World Data and Information System Analytics, Economic Modeling/Assessment, Market Access Solutions and Reimbursement, Clinical Outcomes), service provider (contract research organizations, consulting), end user (healthcare providers, biotech/pharmaceutical companies, healthcare payers, government organizations), industry analysis report, regional outlook, market potential Growth, Competitive Market Share and Forecast, 2022-2028in detail with the table of contents:

https://www.gminsights.com/industry-analysis/health-economics-and-outcomes-research-heor-services-market

The contract research organization segment HEOR services market is expected to register a CAGR of 12.5% ​​during the forecast period. Contract research organizations in the healthcare industry typically provide research services to medical device, pharmaceutical, and biotechnology companies on a contract basis. Additionally, increasing demand for more secure services along with expertise in regulatory affairs further increases the need for CRO in HEOR services.

The Health Economics and Outcomes Research Services Market of the Healthcare Providers Segment was worth more than USD 79.5 million in 2021, driven by the growing impact of HEOR services in decision-making in health care. Health service providers consist of health professionals, organizations, and auxiliary health workers who provide appropriate care to patients. These providers rely heavily on HEOR services to interpret and evaluate patient data to achieve better service outcomes in a cost-effective manner.

The Asia-Pacific HEOR services market accounted for more than 16% revenue share in 2021. Rapidly growing medical industry, high drug expenditures, and growing awareness of HEOR services in the region will drive the progress of the market. Additionally, rising prevalence of chronic diseases, increasing technological advancements in the medical industry, and rising healthcare expenditures will further favor the regional market outlook.

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Some of the major market players operating in the health economics and outcomes research services market include Axtria, Avalon Health Economics, Cardinal Health, McKesson, IQVIA, MEDLIOR, Pharmaceutical Product Development (PPD), Syneos Health, Optum, PharmaLex, RTI Health Solutions, and Icon plc, among others. These market players are focusing on new product launches and strategic partnerships to gain higher market share.

About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, USA, is a global provider of market research and advisory services, offering syndicated and custom research reports as well as consulting services. growth. Our business intelligence and industry research reports provide clients with in-depth insights and actionable market data specially designed and presented to aid in strategic decision-making. These comprehensive reports are designed through proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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