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.
Base Year
Historical Period
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 (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.
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.
The market is witnessing several trends and developments to improve the current scenario. Some of the notable trends are as follows:
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
Market Breakup by Service Provider
Market Breakup by End User
Market Breakup by Region
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.
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 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 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 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 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 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.
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Health Economics and Outcomes Research (HEOR) Market Size
Health Economics and Outcomes Research (HEOR) Market Analysis
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*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 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:
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| Breakup by Service |
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| Breakup by Service Provider |
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| Breakup by End User |
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| Breakup by Region |
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