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HEOR Services Market Size Booms with CAGR 12.3%, Projected to Reach $3.79 Billion by 2031 | Exclusive Report by The Insight Partners

05.03.25 16:30 Uhr

NEW YORK, March 5, 2025 /PRNewswire/ -- According to a comprehensive report from The Insight Partners, "Health Economics and Outcome Research (HEOR) Services Market share and Forecast 2024 - 2031, Global and Regional Share, Trend, and Growth Opportunity Analysis Report", The HEOR services market is expected to reach US$ 3.79 billion by 2031 from US$ 1.68 billion in 2024, at a CAGR of 12.3% during the forecast period.

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To explore the valuable insights in the HEOR Services Market report, you can easily download a sample PDF of the report- https://www.theinsightpartners.com/sample/TIPRE00017816/

HEOR Services Market Overview of Report Findings

  • Market Growth: The HEOR services market is expected to reach US$ 3.79 billion by 2031 from US$ 1.68 billion in 2024, at a CAGR of 12.3% during the forecast period. HEOR services encompass various research and analytical activities focused on studying the financial consequences and results of healthcare interventions, such as medications, medical equipment, treatments, and healthcare regulations. In order to assist stakeholders—including pharmaceutical companies, healthcare providers, payers, regulatory agencies, and policymakers—in making well-informed decisions regarding the efficacy and value of healthcare interventions, these services are intended to offer evidence.

  • Increasing Product Development: The increasing emphasis on developing new products in the areas of pharmaceuticals, medical devices, diagnostics, and digital health solutions is propelling the HEOR services market growth. Rising spending by companies on developing new treatments and medical solutions is critical to demonstrate their financial value. The potential economic burden of diseases, the cost-effectiveness of therapies, and the effects of healthcare items on patient outcomes and quality of life are covered by HEOR. The necessity for HEOR analysis has grown as a result of the quick development of biologics and biosimilars. To support their high price points, biological medications such as Remicade (infliximab) and Humira (adalimumab) need thorough economic analyses. When more biosimilars hit the market, HEOR assists in comparing the originator biologics' cost-effectiveness and patient outcomes with their biosimilars.

  • Surge in Clinical Trials: The need for HEOR services is directly impacted by the growing growth of clinical trials, which are essential to the development of new medications, equipment, and treatments. For instance, new treatments in oncology are frequently expensive. Comprehensive HEOR studies are required for clinical trials of new cancer treatments, such as gene therapies or immune checkpoint inhibitors, in order to show how cost-effective they are in comparison to their therapeutic advantages. Drugs such as Kymriah (tisagenlecleucel) and Keytruda (pembrolizumab) undergo comprehensive HEOR evaluations to assist payers and healthcare systems in determining their value based on long-term costs and clinical outcomes. The need for HEOR services is growing as more clinical trials are carried out worldwide to make sure that novel treatments are both successful and profitable. This increases the need for experts in healthcare economics modeling and analysis.

  • Geographical Insights: In 2023, North America led the market with a substantial revenue share, followed by Europe and APAC. Asia Pacific is expected to register the highest CAGR during the forecast period.

    • For Detailed HEOR Services Market Insights, Visit:  https://www.theinsightpartners.com/reports/health-economics-and-outcomes-research-heor-services-market

    Competitive Strategy and Development

    • Key Players: A few major companies operating in the HEOR services market are PharmaLex GmbH; ICON Plc; IQVIA Holdings Inc; Syneos Health Inc; Optum Inc; Certara Inc; ExlService Holdings, Inc; Avalon Health Economics LLC; Axtria, Inc.; and McKesson Corp.
    • Trending Topics: Generative AI, AI in Customer Support, Voice Assisstants in Healthcare, Multimodal AI, Low-code AI Platforms, among others.

    Global Headlines on HEOR services

    • PharmaLex expanded Australia footprint through a merger plan with pharmacovigilance leader Cpharm.
    • SSM Health and Optum launched an innovative collaboration to make quality care more accessible and affordable
    • PharmaLex Group announced a merger with the leading technology and services organization for clinical and regulatory solutions, Phlexglobal
    • Syneos Health Expanded Partnership with Datavant to Accelerate Delivery of New Therapies to Patients

    Stay Updated on The Latest HEOR Services Market Trends: https://www.theinsightpartners.com/sample/TIPRE00017816/

    Market Segmentation

    • Based on service, the HEOR services market is segmented into economic modeling evaluation, real-world data analysis & information systems, clinical outcome, and market access solutions & reimbursement. The economic modelling or evaluation segment held the largest share of the HEOR services market in 2024.
    • In terms of service provider, the HEOR Services market is bifurcated into consultancy and contract research organizations. The contract research organizations segment held a larger share of the HEOR services market in 2024.
    • By end users, the HEOR Services market is segmented into healthcare providers, healthcare payers, biotech/pharma companies, and government organizations. The biotechnology and pharmaceutical companies segment held the largest share of the HEOR services market in 2024.
    • The HEOR services market is segmented into five major regions: North America, Europe, APAC, Middle East and Africa, and South and Central America.

    Purchase Premium Copy of Global HEOR Services Market Size and Growth Report (2024-2031) at: https://www.theinsightpartners.com/buy/TIPRE00017816/ 

    Conclusion

    The increasing product development, growing healthcare expenditure, and rising clinical trials, along with robust HEOR services, drive the HEOR services market growth. The global expansion of clinical trials, especially in the areas of oncology, rare illnesses, and personalized medicine, necessitates a thorough examination of both the clinical and financial effects. In these trials, HEOR is essential because it evaluates the value proposition, long-term results, and cost-effectiveness of new treatments. Furthermore, advancements in technology such as digital treatments, gene therapies, and customized medicine have made product development in the healthcare industry more complicated. These cutting-edge therapies frequently need substantial financial outlays and high expenses. Therefore, thorough economic analyses are required to ascertain their viability and the possible return on investment for healthcare systems. The demand for HEOR services to assess the cost-effectiveness, long-term effects, and overall value of novel medications and treatments is increasing as they are brought to market.

    The report from The Insight Partners, therefore, provides several stakeholders—including pharmaceutical companies, healthcare providers, payers, regulatory agencies, and policymakers—with valuable insights to successfully navigate this evolving market landscape and unlock new opportunities.

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    About Us:

    The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

    Contact Us:

    If you have any queries about this report or if you would like further information, please contact us:

    Contact Person: Ankit Mathur
    E-mail: ankit.mathur@theinsightpartners.com
    Phone: +1-646-491-9876
    Press Release- https://www.theinsightpartners.com/pr/health-economics-and-outcomes-research-heor-services-market 

    Logo: https://mma.prnewswire.com/media/2520492/The_Insight_Partners_Logo.jpg

     

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