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Health Economics and Outcomes Research (HEOR) Market

Global Health Economics and Outcomes Research (HEOR) Market: By Service Type: Health Economic Services, Outcomes Research Services; By Applications: Oncology, Cardiovascular Diseases, Infectious Diseases, Neurology, Others; By End User: Pharmaceutical Companies, Others; Regional Analysis; Supplier Landscape: 2024-2032

Global Health Economics and Outcomes Research Market Outlook

The global health economics and outcomes research market size was valued at USD 1.56 billion in 2023, driven by the rising drug development and clinical trials across the globe. The market is expected to grow at a CAGR of 12.50% during the forecast period of 2024-2032, with the values likely to attain a value of USD 4.50 billion by 2032.

 

Global Health Economics and Outcomes Research (HEOR) Market

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Health Economics and Outcomes Research: Introduction

Health economics and outcomes research (HEOR) refers to the services utilized by healthcare and pharma companies to find the value and cost-effectiveness of the products or techniques that may be applied in research and development. HEORs help by providing observational data, price comparison, and other market indicators to prominent companies, helping them make more informed and strategic decisions for their products, equipment, or services.

 

Global Health Economics and Outcomes Research Market Analysis

The COVID-19 outbreak has propelled significant demand for pharmaceuticals and vaccines in the market. As a result, the pharmaceutical industry has witnessed rapid growth in recent years. With the rising demand, prominent companies have started outsourcing drug development and approval services with a vision to reduce the scope of error, expediate the development process and combat the shortage of skilled professionals. This has contributed significantly to the health economics and outcomes research market growth.

 

With development of new drugs in the pharmaceutical industry, there has been a surge in the number of clinical trials required. Health economics and outcomes research help the clinical development by providing valuable information regarding specific drugs such as accessibility to the population and comparative pricing of rival drugs. The price for a new drug developed and revision of prices of existing drugs is done with the aid of HEOR services, which is providing impetus to the growth of industry.

 

The market growth is further driven by the rising number of mergers and acquisitions occurring amongst companies. In April 2023, Kaiser Permanente and Geisinger joined forces to launch a non-profit organization called Risant Health to expand access to value-based care. This organization aims at offering multipayer, multi-provider services, along with community-based health system environments. Such partnerships are expected to cater to the health economics and outcomes research market demand.

 

Global Health Economics and Outcomes Research Market Segmentation

 

Global Health Economics and Outcomes Research (HEOR) Market By Service

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Market Breakup by Service Type

  • Health Economic Services
  • Outcomes Research Services

 

Market Breakup by Applications

  • Oncology
  • Cardiovascular Diseases
  • Infectious Diseases
  • Neurology
  • Others

 

Market Breakup by End User

  • Pharmaceutical Companies
  • Biotechnology Companies
  • Healthcare Payers
  • Healthcare Providers

 

Market Breakup by Region

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

 

Global Health Economics and Outcomes Research (HEOR) Market By Region

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Global Health Economics and Outcomes Research Market Overview

North America, especially the United States, has been laying significant emphasis on value-based care and pharmaceutical research. This can be accredited to the region having an active presence of many key players who are involved in pharmaceutical and healthcare research. Moreover, the region has also been facing expanding demand for new drugs and therapies owing to the high prevalence of cardiovascular diseases and diabetes among others. Such conditions have encouraged key companies to adopt external services to maximize profits and improve the quality of services. Hence, the region has held a substantial portion of the health economics and outcomes research market share.

 

Europe, with its robust healthcare infrastructure and strong economy, is increasingly adopting HEOR services. However, it is the Asia Pacific region that is expected to witness maximum growth during the forecast period. The region has been witnessing a high influx of capital from international players with a vision to utilize the region’s resources to the best potential. Countries like China and India, with a huge youth population, are increasingly inviting foreign investors to the region. Therefore, with such factors, we can anticipate the health economics and outcomes research market value to expediate in the upcoming years.

 

Global Health Economics and Outcomes Research Market: Competitor Landscape

The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:

 

  • Pharmerit International
  • ICON plc
  • IQVIA
  • Optum, Inc.
  • Precision Xtract
  • Cornerstone Research Group
  • Xcenda
  • Analysis Group
  • Creativ-Ceutical
  • HERON Group
  • Oxford PharmaGenesis
  • Cornerstone Research
  • Evidera
  • PRMA Consulting
  • CHEORS

 

Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2017-2023
Forecast Period 2024-2032
Scope of the Report

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

  • Service Type
  • Applications
  • End User
  • Region
Breakup by Service Type
  • Health Economic Services
  • Outcomes Research Services
Breakup by Applications
  • Oncology
  • Cardiovascular Diseases
  • Infectious Diseases
  • Neurology
  • Others
Breakup by End User
  • Pharmaceutical Companies
  • Biotechnology Companies
  • Healthcare Payers
  • Healthcare Providers
Breakup by Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
Market Dynamics
  • Market Drivers and Constraints
  • SWOT Analysis
  • Porter’s Five Forces Model 
  • Key Demand Indicators
  • Key Price Indicators
  • Industry Events, Initiatives, and Trends 
  • Value Chain Analysis
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Financial Analysis
    • Product Portfolio
    • Demographic Reach and Achievements
    • Mergers and Acquisitions
    • Certifications
Companies Covered
  • Pharmerit International
  • ICON plc
  • IQVIA
  • Optum, Inc.
  • Precision Xtract
  • Cornerstone Research Group
  • Xcenda
  • Analysis Group
  • Creativ-Ceutical
  • HERON Group
  • Oxford PharmaGenesis
  • Cornerstone Research
  • Evidera
  • PRMA Consulting
  • CHEORS

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
    1.1    Objectives of the Study
    1.2    Key Assumptions 
    1.3    Report Coverage – Key Segmentation and Scope  
    1.4    Research Methodology
2    Executive Summary
3    Global Health Economics and Outcomes Research (HEOR) Market Overview 

    3.1    Global Health Economics and Outcomes Research (HEOR) Market Historical Value (2017-2024) 
    3.2    Global Health Economics and Outcomes Research (HEOR) Market Forecast Value (2024-2032)
4    Global Health Economics and Outcomes Research (HEOR) Market Landscape
    4.1    Global Health Economics and Outcomes Research (HEOR) Developers Landscape
        4.1.1    Analysis by Year of Establishment
        4.1.2    Analysis by Company Size
        4.1.3    Analysis by Region
    4.2    Global Health Economics and Outcomes Research (HEOR) Product Landscape
        4.2.1    Analysis by Type
        4.2.2    Analysis by Applications
5    Global Health Economics and Outcomes Research (HEOR) Market Dynamics
    5.1    Market Drivers and Constraints
    5.2    SWOT Analysis
    5.3    Porter’s Five Forces Model 
    5.4    Key Demand Indicators
    5.5    Key Price Indicators
    5.6    Industry Events, Initiatives, and Trends 
    5.7    Value Chain Analysis
6    Global Health Economics and Outcomes Research (HEOR) Market Segmentation 
    6.1    Global Health Economics and Outcomes Research (HEOR) Market by Service Type
        6.1.1    Market Overview
        6.1.2    Health Economic Services
        6.1.3    Outcomes Research Services
    6.2    Global Health Economics and Outcomes Research (HEOR) Market by Applications
        6.2.1    Market Overview
        6.2.2    Oncology
        6.2.3    Cardiovascular Diseases
        6.2.4    Infectious Diseases
        6.2.5    Neurology
        6.2.6    Others
    6.3    Global Health Economics and Outcomes Research (HEOR) Market by End User
        6.3.1    Market Overview
        6.3.2    Pharmaceutical Companies
        6.3.3    Biotechnology Companies
        6.3.4    Healthcare Payers
        6.3.5    Healthcare Providers
    6.4    Global Health Economics and Outcomes Research (HEOR) Market by Region
        6.4.1    Market Overview
        6.4.2    North America 
        6.4.3    Europe
        6.4.4    Asia Pacific
        6.4.5    Latin America
        6.4.6    Middle East and Africa
7    North America Health Economics and Outcomes Research (HEOR) Market
    7.1    Market Share by Country
    7.2    United States of America
    7.3    Canada
8    Europe Health Economics and Outcomes Research (HEOR) Market
    8.1    Market Share by Country
    8.2    United Kingdom
    8.3    Germany
    8.4    France
    8.5    Italy
    8.6    Others
9    Asia Pacific Health Economics and Outcomes Research (HEOR) Market
    9.1    Market Share by Country
    9.2    China
    9.3    Japan
    9.4    India
    9.5    ASEAN
    9.6    Australia
    9.7    Others
10    Latin America Health Economics and Outcomes Research (HEOR) Market
    10.1    Market Share by Country
    10.2    Brazil
    10.3    Argentina
    10.4    Mexico
    10.5    Others
11    Middle East and Africa Health Economics and Outcomes Research (HEOR) Market
    11.1    Market Share by Country
    11.2    Saudi Arabia
    11.3    United Arab Emirates
    11.4    Nigeria
    11.5    South Africa
    11.6    Others
12    Grants Analysis
    12.1    Analysis by year
    12.2    Analysis by Amount Awarded
    12.3    Analysis by Issuing Authority
    12.4    Analysis by Grant Application
    12.5    Analysis by Funding Institute
    12.6    Analysis by NIH Departments
    12.7    Analysis by Recipient Organization 
13    Funding and Investment Analysis
    13.1    Analysis by Funding Instances
    13.2    Analysis by Type of Funding
    13.3    Analysis by Funding Amount
    13.4    Analysis by Leading Players
    13.5    Analysis by Leading Investors
    13.6    Analysis by Geography
14    Regulatory Framework
    14.1    Regulatory Overview
        14.1.1    US FDA
        14.1.2    EU EMA
        14.1.3    INDIA CDSCO
        14.1.4    JAPAN PMDA
        14.1.5    Others
15    Supplier Landscape
    15.1    Pharmerit International
        15.1.1    Financial Analysis
        15.1.2    Service Portfolio
        15.1.3    Demographic Reach and Achievements
        15.1.4    Mergers and Acquisition
        15.1.5    Certifications
    15.2    ICON plc
        15.2.1    Financial Analysis
        15.2.2    Service Portfolio
        15.2.3    Demographic Reach and Achievements
        15.2.4    Mergers and Acquisition
        15.2.5    Certifications
    15.3    IQVIA
        15.3.1    Financial Analysis
        15.3.2    Service Portfolio
        15.3.3    Demographic Reach and Achievements
        15.3.4    Mergers and Acquisition
        15.3.5    Certifications
    15.4    Optum, Inc.
        15.4.1    Financial Analysis
        15.4.2    Service Portfolio
        15.4.3    Demographic Reach and Achievements
        15.4.4    Mergers and Acquisition
        15.4.5    Certifications
    15.5    Precision Xtract
        15.5.1    Financial Analysis
        15.5.2    Service Portfolio
        15.5.3    Demographic Reach and Achievements
        15.5.4    Mergers and Acquisition
        15.5.5    Certifications
    15.6    Cornerstone Research Group
        15.6.1    Financial Analysis
        15.6.2    Service Portfolio
        15.6.3    Demographic Reach and Achievements
        15.6.4    Mergers and Acquisition
        15.6.5    Certifications
    15.7    Xcenda
        15.7.1    Financial Analysis
        15.7.2    Service Portfolio
        15.7.3    Demographic Reach and Achievements
        15.7.4    Mergers and Acquisition
        15.7.5    Certifications
    15.8    Analysis Group
        15.8.1    Financial Analysis
        15.8.2    Service Portfolio
        15.8.3    Demographic Reach and Achievements
        15.8.4    Mergers and Acquisition
        15.8.5    Certifications
    15.9    Creativ-Ceutical
        15.9.1    Financial Analysis
        15.9.2    Service Portfolio
        15.9.3    Demographic Reach and Achievements
        15.9.4    Mergers and Acquisition
        15.9.5    Certifications
    15.10    HERON Group
        15.10.1    Financial Analysis
        15.10.2    Service Portfolio
        15.10.3    Demographic Reach and Achievements
        15.10.4    Mergers and Acquisition
        15.10.5    Certifications
    15.11    Oxford PharmaGenesis
        15.11.1    Financial Analysis
        15.11.2    Service Portfolio
        15.11.3    Demographic Reach and Achievements
        15.11.4    Mergers and Acquisition
        15.11.5    Certifications
    15.12    Cornerstone Research
        15.12.1    Financial Analysis
        15.12.2    Service Portfolio
        15.12.3    Demographic Reach and Achievements
        15.12.4    Mergers and Acquisition
        15.12.5    Certifications
    15.13    Evidera
        15.13.1    Financial Analysis
        15.13.2    Service Portfolio
        15.13.3    Demographic Reach and Achievements
        15.13.4    Mergers and Acquisition
        15.13.5    Certifications
    15.14    PRMA Consulting
        15.14.1    Financial Analysis
        15.14.2    Service Portfolio
        15.14.3    Demographic Reach and Achievements
        15.14.4    Mergers and Acquisition
        15.14.5    Certifications
    15.15    CHEORS
        15.15.1    Financial Analysis
        15.15.2    Service Portfolio
        15.15.3    Demographic Reach and Achievements
        15.15.4    Mergers and Acquisition
        15.15.5    Certifications
16    Model (Additional Insight)
    16.1    Overview 
    16.2    Potential Distributors 
    16.3    Key Parameters for Distribution Partner Assessment 
17    Key Opinion Leaders (KOL) Insights (Additional Insight)
18    Company Competitiveness Analysis (Additional Insight)

    18.1    Very Small Companies
    18.2    Small Companies
    18.3    Mid-Sized Companies
    18.4    Large Companies
    18.5    Very Large Companies
19    Payment Methods (Additional Insight)
    19.1    Government Funded
    19.2    Private Insurance
    19.3    Out-of-Pocket


*Additional insights provided are customisable as per client requirements.

Key Questions Answered in the Report

The market attained a value of about USD 1.56 billion in 2023, driven by increasing emphasis on drug development and clinical trials across the globe.

The market is anticipated to grow at a CAGR of 12.50% during the forecast period of 2024-2032, likely to reach a market value of USD 4.50 billion by 2032.

The market demand is driven by the increasing number of clinical trials for effective drug development and the rising focus of prominent companies to outsources services to as to expediate the drug development process, along with making it cost effective.

The current market trend includes the increasing mergers and acquisitions among several key companies. For instance, Kaiser Permanente and Geisinger announced their merger in April 2023, which aims at offering community-based healthcare services.

Major services include health economic services and outcomes research services.

The research finds wide applications in oncology, cardiovascular diseases, infectious diseases, and neurology, among others. 

Major end users include healthcare providers, pharmaceutical and biotech companies, and healthcare payers.

The major regions of the market include North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America is currently leading the global market.

Key players involved in the market are Pharmerit International, ICON plc, IQVIA, Optum, Inc., Precision Xtract, Cornerstone Research Group, Xcenda, Analysis Group, Creativ-Ceutical, HERON Group, Oxford PharmaGenesis, Cornerstone Research, Evidera, PRMA Consulting and CHEORS.

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