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Report Overview

The global health economics and outcomes research market was valued at USD 1.50 Billion in 2024, driven by the rising number of mergers and acquisitions amongst leading companies across the globe. The market is anticipated to grow at a CAGR of 13.50% during the forecast period of 2025-2034 to achieve a value of USD 5.32 Billion by 2034.

2024

Base Year

2018-2024

Historical Period

2025-2034

Forecast Period

  • The growing adoption of real-world evidence (RWE) in regulatory decision-making is enhancing market value, as stakeholders seek data-driven insights to improve healthcare access, patient outcomes, and cost-effectiveness.

  • Increasing investments in AI-driven analytics are transforming HEOR, enabling advanced predictive modelling, real-time data processing, and improved health economic evaluations, driving market expansion across pharmaceutical, biotech, and healthcare sectors.

  • Rising healthcare expenditure and reimbursement complexities are accelerating demand for HEOR services, as payers and policymakers prioritize value-based care models, cost containment, and evidence-based decision-making to optimize healthcare resource allocation.

Compound Annual Growth Rate

13.5%

Value in USD Billion

2025-2034


Health Economics and Outcomes Research (HEOR) Market Outlook

*this image is indicative*

Health Economics and Outcomes Research Market Overview

Health economics and outcomes research (HEOR) evaluates the economic, clinical, and humanistic outcomes of healthcare interventions, ensuring cost-effectiveness and value-based care. It integrates real-world data, economic modelling, and comparative effectiveness research to support market access, pricing strategies, and reimbursement decisions. HEOR aids pharmaceutical, biotech, and healthcare providers in optimising treatment value assessments, healthcare policies, and patient outcomes. By guiding evidence-based decision-making, HEOR helps healthcare stakeholders reduce costs, improve resource allocation, and enhance patient care quality, driving healthcare innovation and sustainable market growth globally.

Health Economics and Outcomes Research Market Growth Drivers

Advancements in Real-World Evidence Enhancing Market Growth

The increasing reliance on real-world evidence (RWE) and regulatory-grade data is driving the growth of the market. The demand for cost-effective healthcare solutions and evidence-based policymaking is further accelerating market expansion. For instance, in June  2024, a new regulatory and audit capability introduced by Truveta aims to support real-world evidence submissions to the U.S. FDA and other regulatory authorities. This advancement strengthens health economics and clinical trial solutions by ensuring high-quality, regulatory-grade EHR data from over 100 million patients across 30 U.S. health systems. By providing real-time patient data, Truveta enhances comparative research, safety evaluations, and market access for new therapies. This development is poised to strengthen the global HEOR market by enabling faster therapy approvals, optimising reimbursement strategies, and improving healthcare decision-making. As real-world data becomes a cornerstone for regulatory submissions, its adoption will expand across biopharmaceutical research, healthcare policy, and treatment efficacy studies, further driving market expansion in the forecast period.

Comparative Outcomes Research to Drive Health Economics and Outcomes Research Market Value

The growing focus on comparative effectiveness research (CER) and cost-effectiveness analysis (CEA) is fostering the expansion of the market. For instance, in September  2024, Comparative Health Outcomes, Policy, and Economics (CHOICE) Institute at the University of Washington partnered with Truveta to utilise its comprehensive EHR database for comparative health outcomes research. Covering 30 U.S. health systems, this partnership enables researchers to evaluate cost-effectiveness, patient reimbursement, and chronic disease management across multiple therapeutic areas, including diabetes, dementia, and sickle cell disease. This initiative is expected to drive significant advancements in HEOR methodologies by providing valuable insights into healthcare policies, treatment efficiency, and patient outcomes. With real-world data supporting evidence-based decision-making and resource allocation, the HEOR market will experience sustained growth and innovation, benefiting pharmaceutical companies, healthcare providers, and policymakers worldwide.

Health Economics and Outcomes Research Market Trends

Health Economics and Outcomes Research Market Segmentation

Health Economics and Outcomes Research Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:

Market Breakup by Service

  • Economic Modelling/Evaluation 
  • Real-World Data Analysis and Information Systems  
  • Clinical Outcome 
  • Market Access Solutions and Reimbursement 
  • Others

Market Breakup by Service Provider

  • Consultancy 
  • Contract Research Organizations (CROs)

Market Breakup by End User

  • Healthcare Providers 
  • Healthcare Payers 
  • Biotech/Pharma Companies 
  • Government Organizations 
  • Others

Market Breakup by Region

  • North America
  • Europe  
  • Asia Pacific 
  • Latin America 
  • Middle East and Africa

Health Economics and Outcomes Research Market Share

Real-World Data Analysis and Information Systems to Dominate the Services Segment

Real-world data analysis and information systems are expected to hold the largest market share due to their critical role in healthcare decision-making, regulatory submissions, and value-based assessments. The rising adoption of real-world evidence (RWE) by pharmaceutical companies, payers, and regulators drives demand for advanced data analytics and predictive modelling. Increasing reliance on electronic health records (EHRs), claims databases, and patient registries enhances treatment evaluation and healthcare resource optimisation. With expanding applications in personalised medicine and post-market surveillance, this segment is set to propel market growth, improving healthcare cost efficiency and patient outcomes.

Consultancy Services to Lead the Health Economics and Outcomes Research Market Segmentation by Service Provider

Consultancy firms are poised to dominate the HEOR service provider segment due to their expertise in health economics modelling, market access strategies, and reimbursement planning. Pharmaceutical companies, biotech firms, and payers seek consultancy support to navigate complex regulatory landscapes and value-based pricing models. The growing demand for customised HEOR solutions and data-driven insights further strengthens this segment. Consultancy firms leverage AI-driven analytics, policy expertise, and stakeholder engagement strategies, enabling clients to optimise drug pricing, market entry, and health policy influence. As healthcare cost containment remains a priority, consultancy services will drive market growth and competitive advancements.

Biotech and Pharma Companies to Hold a Significant Health Economics and Outcomes Research Market by End User

Biotech and pharmaceutical companies will lead the HEOR end-user segment as they heavily invest in economic modelling, clinical outcomes research, and reimbursement strategies. Increasing drug development costs and stringent regulatory requirements necessitate robust HEOR data to demonstrate treatment value and secure market access. The shift toward real-world evidence, precision medicine, and innovative pricing models fuels demand for HEOR services. With growing collaborations with payers, regulators, and research organisations, pharma companies leverage HEOR insights to optimise drug lifecycle management and post-market surveillance, ensuring sustained market growth and competitive differentiation in the forecast period.

Health Economics and Outcomes Research Market Analysis by Region

North America is expected to hold the largest market share, driven by high healthcare expenditure, strong regulatory frameworks, and extensive RWE adoption. The presence of leading pharmaceutical companies, advanced healthcare infrastructure, and favourable reimbursement policies enhances market growth. Europe follows closely, supported by stringent health technology assessment (HTA) policies and increasing government funding for cost-effectiveness studies. Meanwhile, Asia Pacific is witnessing rapid growth due to expanding healthcare systems, rising clinical trials, and growing HEOR adoption in emerging economies. The Middle East, Africa, and Latin America are also investing in value-based healthcare models, fostering HEOR market expansion.

Leading Players in the Health Economics and Outcomes Research Market

The key features of the market report comprise funding and investment analysis, and strategic initiatives by the leading players. The major companies in the market are as follows:

McKesson Corporation

McKesson Corporation plays a crucial role in the market, offering data-driven insights, real-world evidence (RWE), and healthcare analytics. The company provides value-based care solutions, pharmaceutical distribution, and patient access programs, supporting healthcare providers, payers, and pharmaceutical companies. Its advanced analytics and technology-driven services enhance cost-effectiveness assessments and healthcare decision-making, contributing to market growth and improved patient outcomes.

Axtria

Axtria is revolutionising the HEOR market through cloud-based data analytics, AI-driven healthcare insights, and real-world data analysis. It supports life sciences companies, payers, and providers in optimising market access, pricing strategies, and patient outcomes. Axtria’s HEOR solutions integrate predictive modelling, advanced analytics, and automation, enabling cost-effective treatment evaluations and regulatory submissions, driving healthcare innovation and strategic decision-making in the forecast period.

Cardinal Health

Cardinal Health significantly impacts the market by offering comprehensive healthcare analytics, real-world evidence (RWE), and patient access solutions. It supports pharmaceutical manufacturers, healthcare providers, and payers with outcomes-based research, cost-effectiveness analysis, and clinical insights. Cardinal Health’s strong supply chain network, advanced healthcare data solutions, and technology-driven services strengthen market access strategies, improving healthcare decision-making, patient care efficiency, and market growth.

Avalon Health Economics

Avalon Health Economics focuses on cost-effectiveness studies, market access strategies, and real-world data analytics to support pharmaceutical, biotech, and medical device companies. Its expertise in economic modelling, health technology assessments (HTA), and reimbursement strategy development enhances pricing and regulatory decisions. Avalon’s research-driven approach aids in optimising treatment value assessments, supporting evidence-based policymaking, and accelerating global HEOR market expansion.

Medlior

Medlior is a specialised HEOR and RWE research firm providing systematic reviews, database studies, and economic evaluations for pharmaceutical, biotech, and healthcare organisations. It supports clinical trials, post-market surveillance, and health policy development through advanced real-world data analytics. Medlior’s evidence-based approach enhances market access, regulatory approvals, and cost-effectiveness studies, driving HEOR market growth and improving healthcare decision-making.

*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*

Other key players in the market include Iqvia, Pharmalex GmbH, ZS, Deloitte, and Cytel.  

Key Questions Answered in the Health Economics and Outcomes Research Market

  • What was the global health economics and outcomes research market value in 2024? 
  • What is the global health economics and outcomes research market forecast outlook for 2025-2034?
  • What is market segmentation based on the services?
  • What is market segmentation based on the service provider?
  • What is market segmentation based on end user?
  • What are the major factors aiding the global health economics and outcomes research market demand?  
  • How has the market performed so far, and how is it anticipated to perform in the coming years? 
  • What are the market's major drivers, opportunities, and restraints?
  • What are the major global health economics and outcomes research market trends?
  • Which services will lead the market segment?  
  • Which service provider will lead the market segment? 
  • Which end user will lead the market segment?  
  • Who are the key players involved in the global health economics and outcomes research market? 
  • What are the current unmet needs and challenges in the market?
  • How are partnerships, collaborations, mergers, and acquisitions among the key market players shaping the market dynamics?

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Health Economics and Outcomes Research (HEOR) Market Report Snapshots

Health Economics and Outcomes Research (HEOR) Market Size

Health Economics and Outcomes Research (HEOR) Market Analysis

Health Economics and Outcomes Research (HEOR) Companies

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Report Summary

Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.

Key Highlights of the Report

Please note that the figures mentioned in the description serve as estimates and may vary from the actual figures presented in the final report.

REPORT FEATURES DETAILS
Base Year 2024
Historical Period 2018-2024
Forecast Period 2025-2034
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Service
  • Service Provider
  • End User
  • Region
Breakup by Service
  • Economic Modelling/Evaluation
  • Real-World Data Analysis and Information Systems
  • Clinical Outcome
  • Market Access Solutions and Reimbursement
  • Others
Breakup by Service Provider
  • Consultancy
  • Contract Research Organizations (CROs)
Breakup by End User
  • Healthcare Providers
  • Healthcare Payers
  • Biotech/Pharma Companies
  • Government organizations
  • Others
Breakup by Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
Market Dynamics
  • Market Drivers and Constraints
  • SWOT Analysis
  • PESTEL Analysis
  • Porter’s Five Forces Model 
  • Key Demand Indicators
  • Key Price Indicators
  • Industry Events, Initiatives, and Trends 
  • Value Chain Analysis
Supplier Landscape
  • Market Structure
  • Company Profiles
    • Financial Analysis
    • Product Portfolio
    • Demographic Reach and Achievements
    • Company News and Developments
    • Certifications
Companies Covered
  • McKesson Corporation
  • Axtria
  • Cardinal Health
  • Avalon Health Economics
  • Medlior
  • Iqvia
  • Pharmalex GmbH
  • ZS
  • Deloitte
  • Cytel

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