About Health Economics And Outcomes Research (HEOR) Services
Health Economics And Outcomes Research (HEOR) Services play an increasingly vital role in a drug’s approval and reimbursement with payers. It works with a pharmaceutical or life science company that is tasked with generating evidence of the value of a new drug or other intervention for reimbursement and healthcare payers. HEOR services focus on the economic impact of treatments, diseases, and conditions, including the direct costs of medical expenditures and indirect costs. It helps decision-makers such as health ministries, governments, clinicians & payers to adequately compare and choose among the available options. The market is expected to grow in the future due to an increasing pressure to control the rising cost of healthcare and a greater need to demonstrate the value of health care treatments in addition to their efficacy.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Health Economics And Outcomes Research (HEOR) Services market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Avalon Health Economics (United States), McKesson Corporation (United States), Cardinal Health, Inc. (United States), Medlior Health Outcomes Research Ltd (Canada), Optum (United States), PharmaLex (Germany), Pharmaceutical Product Development (PPD) (United States), IQVIA (United States) and RTI Health Solutions (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Health Economics And Outcomes Research (HEOR) Services market by Type (Economic Modelling/Evaluation, Real-world Data Analysis & Information Systems, Clinical Outcome and Market Access Solutions & Reimbursement) and Region.
On the basis of geography, the market of Health Economics And Outcomes Research (HEOR) Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
If we see Market by , the sub-segment i.e. will boost the Health Economics And Outcomes Research (HEOR) Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.Influencing Trend:
Growing Outsourcing of R&D Activities
Market Growth Drivers:
Increasing Number of Clinical Trials Globally, Focus of Pharma & Biotech Companies on New Drug Development and Increasing R&D Expenditure Worldwide
Challenges:
Lack of Skilled Healthcare Professionals in Developing and Underdeveloped Economies
Restraints:
Regulatory Pressure on HEOR Service Providers
Opportunities:
Rising Demand for Secured Services including Clinical and Preclinical Testing as well as Regulatory Approvals and Growth of Healthcare IT and Analytic Tools
Market Leaders and their expansionary development strategies
In Feb 2021, PharmaLex, a provider of specialized services for the pharma, biotech, and medtech industries, announced on Feb. 24, 2021, that it has completed its acquisition of ERA Consulting, a consulting firm that provides product development and regulatory support.
In May 2019, ICON announced the release of its web-based patient engagement platform, to provide patients with study-specific information and connectivity with the nearest investigative site. The solution supplements patient recruitment outreach by sites and increases the visibility of potential study participants for sponsors and sites.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Health Economics And Outcomes Research (HEOR) Services Provider, Government Regulatory and Research Organizations, Venture Capitalists and Private Equity Firms and End-Use Industry
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.