Global HEOR market to reach USD 3.11 billion by 2028

The “Global Health Economics and Outcomes Research (HEOR) market report and forecast 2023-2028” report has been added to ResearchAndMarkets.com’s offering.

According to the report, the global health economics and outcomes research (HEOR) market attained a value of USD 1521.2 million in 2022.

Aided by the growing demand for evidence-based data to support healthcare decision-making and the increasing prevalence of chronic diseases, the market is projected to further grow at a CAGR of 12.8% between 2023 and 2028 to reach a value of USD 3113.13 million by 2028.

Health economics and outcomes research (HEOR) is a multidisciplinary field that assesses the value and outcomes of healthcare interventions, considering both clinical and economic factors. The insights derived from HEOR can help healthcare stakeholders, including payers, providers, patients, and manufacturers, make informed decisions and optimise the allocation of healthcare resources.

The growth of the global health economics and outcomes research (HEOR) market is primarily driven by the rising demand for evidence-based data to support healthcare decision-making. Healthcare systems around the world are increasingly focusing on delivering value-based care, which emphasises the importance of improving patient outcomes while reducing costs. HEOR provides the necessary evidence to guide the development, implementation, and evaluation of value-based care strategies, thereby driving its demand in the health economics and outcomes research (HEOR) market. HEOR helps healthcare stakeholders identify the most effective and cost-efficient treatments for chronic diseases, enabling better resource allocation and improving patient outcomes.

Furthermore, the growing emphasis on personalised medicine is also contributing to the growth of the health economics and outcomes research (HEOR) market. HEOR can support the development and implementation of personalised medicine strategies by providing evidence on the clinical and economic benefits of targeted interventions, thereby driving its adoption in the healthcare industry. Additionally, the increasing availability of big data and advancements in data analytics technologies are also fuelling the growth of the health economics and outcomes research (HEOR) market.

The vast amounts of healthcare data generated by electronic health records (EHRs), wearables, and other digital health tools provide valuable insights into patient outcomes and healthcare costs. Advanced data analytics techniques, such as machine learning and artificial intelligence, can help HEOR professionals process and analyse this data more efficiently, enabling them to generate more accurate and actionable insights.

The health economics and outcomes research (HEOR) market also benefits from supportive government policies and initiatives aimed at promoting the use of evidence-based data in healthcare decision-making. For instance, many countries have implemented health technology assessment (HTA) processes, which involve the systematic evaluation of the clinical and economic aspects of healthcare interventions. HEOR plays a crucial role in HTA, as it provides the evidence needed to inform the assessment and prioritisation of healthcare technologies.

Market segmentation
The market can be divided on the basis of drugs, service, offering, end use, and region.

Market bifurcation by drugs:

• Developing drugs
• Approved drugs

Market segmentation by service:

• Real world evidence
• Payer evidence
• Pricing and reimbursement
• Epidemiology studies
• Market access
• Others

Market division by offering:

• Outsourced
• In-house

Market breakup by end use:

• Healthcare providers
• Government organisations
• Pharma and biotech companies
• Healthcare payers

Market segregation by region:

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

Competitive landscape
The report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global health economics and outcomes research (HEOR) companies. Some of the major key players explored in the report are as follows:

• IQVIA Inc
• Medpace, Inc
• Certara, Inc
• Syneos Health
• McKesson Corporation
• Optum, Inc
• Others