North America Health Economics and Outcomes Research (HEOR) Services Market Drivers by 2027
North America Health Economics and Outcomes Research (HEOR) Services Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Service (Economic Modelling/Evaluation, Real-world Data Analysis and Information Systems, Clinical Outcome, and Market Access Solutions and Reimbursement); Service Provider (Consultancy, and Contract Research Organizations); End User (Healthcare Providers, Healthcare Payers, Biotech/Pharma Companies, and Government Organizations)
Historic Data: 2018-2019 | Base Year: 2020 | Forecast Period: 2021-2027- Status : Published
- Report Code : TIPRE00024235
- Category : Life Sciences
- No. of Pages : 122
- Available Report Formats :
The health economics and outcomes research (HEOR) services market in North America is expected to grow from US$ 548.8 million in 2020 to US$ 1,253.4 million by 2027; it is estimated to grow at a CAGR of 12.5% from 2020 to 2027.
The primary focus of the manufacturer is to offer cost-effective and efficient products in the market. The other main objective of the product development is to develop products to lead to better communication between the healthcare provider and patients. This would result in increased awareness and knowledge, which would eventually lead to the growth of the company and industry. However, to drive the better business there is a need much understanding the health economics and their outcomes. Hence, it becomes difficult for a market player to design a product and its lifecycle throughout the developmental process. Various companies outsource HEOR services to understand the regulations, healthcare coverage, and access decisions and identify the intervention that would benefit the specific populations of patients. The HEOR's most essential service is helping players fill the gap between clinical trials and actual health outcomes. Thus, due to increasing product development, there is growth in the demand for HEOR services, which is likely to continue in the coming future.
The outbreak has highly affected the North American region. At present, the majority of the pharmaceutical companies and research institutes are engaged in the development of COVID-19 vaccines. The COVID-19 crisis has highlighted the use of real-world evidence (RWE) in the pharmaceutical industry. The FDA also acknowledge value of using RWD to understand COVID-19 and to assess potential re-purposed treatments being used in practice. A prominent example of RWE-data is Pfizer’s Ibrance, which is used for breast cancer and had undergone trials only for women. The HEOR services help governments to provide economic data on the burden of disease, the cost effectiveness of vaccines and the projected implementation costs of immunization programs to reach universal health coverage. Evidence on evaluating infectious disease and economic impact of vaccination is critical in informing national decision makers on the allocation of limited resources and in prioritizing interventions in the health sector. Thus, the demand of HEOR services is expected to remain high in the region.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the health economics and outcomes research (HEOR) services market. The North America Health economics and outcomes research (HEOR) services market is expected to grow at a good CAGR during the forecast period.
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North America Health Economics and Outcomes Research (HEOR) Services Market Segmentation
By Service
- Economic Modelling/Evaluation
- Real-world Data Analysis and Information Systems
- Clinical Outcome
- Market Access Solutions and Reimbursement
By Service Provider
- Consultancy
- Contract Research Organizations
By End User
- Healthcare Providers
- Healthcare Payers
- Biotech/Pharma Companies
- Government Organizations
By Country
- North America
- US
- Canada
- Mexico
Companies Mentioned
- Axtria, Inc.
- Avalon Health Economics LLC
- MEDLIOR
- PHARMALEX GMBH
- Analysis Group
- ICON PLC
- IQVIA Inc.
- McKESSON CORPORATION
- Syneos Health
- Optum, Inc.
North America Health Economics and Outcomes Research (HEOR) Services Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2020 | US$ 548.8 Million |
| Market Size by 2027 | US$ 1,253.4 Million |
| CAGR (2020 - 2027) | 12.5% |
| Historical Data | 2018-2019 |
| Forecast period | 2021-2027 |
| Segments Covered |
By Service
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Regional, Country
- Industry and Competitive Landscape
- Excel Dataset
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