HEOR Services Market is projected to witness significant gains during 2020-2026
Category: #business  By Ronak Bora  Date: 2021-03-22
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HEOR Services Market is projected to witness significant gains during 2020-2026

HEOR Services Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

The increasing disease burden on the global healthcare economy is projected to be a major factor fueling health economics and outcomes research (HEOR) services market share through 2026. Several pharmaceutical and biotechnology industries are heavily investing in R&D activities to develop novel drugs and therapeutic procedures to enhance the healthcare sector. The industry is also carrying out a number of clinical studies to assess the efficacies of their new drug candidates, which may grow the demand for HEOR services further. In fact, as per the National Institute of Health, in 2018, the U.S. government made an investment of $5,207 million in the field of clinical trials while also investing $13,870 million in clinical research and supporting activities.

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Meanwhile, the burden of growing drug expenses on the payer’s healthcare budget has further emerged as a prominent issue across numerous regions. This burden has further led to an upsurge in efficient HEOR practices to offer the best possible health results at affordable costs.

Healthcare payers majorly rely on HEOR services owing to the growing inclination for value-based reimbursement and mounting use of treatments as well as drugs in developed economies.

With the use of HEOR services, companies can easily manage healthcare spending and coverage, price transparency, value-based payment models, drug pricing, and digital advancements. GMI, estimates the HEOR services market would possibly surpass $1.7 billion through 2026.

Mentioned below are few of the ongoing trends in global HEOR services industry

•          Growing prominence of clinical outcome segment

Speaking of the service segment, the clinical outcome segment registered a valuation of approximately $250 million in 2019. Clinical results generally involve tools used to evaluate the effect of healthcare interventions on patients. This web-based software stores information/data that is provided by patients and verified by clinicians to predict healthcare expenditure of a patient.

The availability of clinical outcome software such as the clinical reported outcomes and the observer reported outcomes would further help the healthcare market monitor the clinical impact on a wider level. Attributing to this factor, it is slated that the clinical outcome segment would observe heavy growth over the forecast timespan.

•          Increasing demand from government organizations

Considering the end-user segment, government organizations are likely to lead the segment growth in the future. These organizations have been increasingly taking efforts for product pre-approvals, pharmaco-economics, and payer’s investments.

In addition, organizations such as ISPOR, ISOQOL, and AMCP are increasingly working for the marketing and development of HEOR services to improve adoption across the healthcare sector. Observing this growth, studies suggest that the government organization segment would grow at a healthy CAGR of around 10.5% by 2026.

•          Mounting deployment in Europe

On the geographical front, Europe HEOR services market is slated to observe lucrative growth rate as well as create new opportunities of investment. The regional industry landscape recorded revenues of more than $250 million in 2019. Generally, European countries have a higher adoption rate for advanced treatments, therapies, and drugs, which would serve to be a prominent impact rendering factor that promotes strong business growth.

Increasing awareness regarding HEOR services among pharmaceutical firms has led to several changes in the Europe drug and treatment regulations. These changes for making healthcare services accessible would provide new growth opportunities for the Europe HEOR services market.

Presently, firms such as Axtria, Cardinal Health, Pharmaceutical Product Development, Optum, McKesson Corporation, ICON, Syneos Health, and RTI Health Solutions are presently at the forefront of the HEOR services market. These companies are adopting various organic as well as inorganic strategies to set themselves apart from the competition in the industry. 

Browse full table of contents (TOC) of this report @ https://www.decresearch.com/toc/detail/health-economics-and-outcomes-research-heor-services-market

Partial Chapter of the Table of Content 

Chapter 4. HEOR Services Market, By Service

4.1. Key segment trends

4.2. Economic modelling/evaluation

4.2.1.    Market size, by region, 2015 - 2026 (USD Million)

4.3. Real-world data analysis & information systems

4.3.1.    Market size, by region, 2015 - 2026 (USD Million)

4.4. Clinical outcome

4.4.1.    Market size, by region, 2015 - 2026 (USD Million)

4.5. Market access solutions & reimbursement

4.5.1.    Market size, by region, 2015 - 2026 (USD Million)

4.6. Others

4.6.1.    Market size, by region, 2015 - 2026 (USD Million)

Chapter 5. HEOR Services Market, By Service Provider

5.1. Key segment trends

5.2. Consultancy

5.2.1.    Market size, by region, 2015 - 2026 (USD Million)

5.3. Contract research organizations (CROs)

5.3.1.    Market size, by region, 2015 - 2026 (USD Million)

About Author

Ronak Bora    

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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