DUBLIN--(BUSINESS WIRE)--The "Health Economics and Outcomes Research (HEOR) Services Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" report has been added to ResearchAndMarkets.com's offering.
The health economics and outcomes research (HEOR) services market is expected to register a CAGR of 11.2% over the forecast period.
Companies Mentioned
- Cardinal Health
- McKESSON CORPORATION
- Axtria, Inc.
- Avalon Health Economics LLC
- MEDLIOR
- PHARMALEX GMBH
- Analysis Group
- ICON PLC
- Syneos Health
- UnitedHealth Group (Optum, Inc.)
- Thermo Fischer Scientific (PPD Inc.)
Key Market Trends
Consultancy by Service Provider Segment is Expected to Dominate the Market Over the Forecast Period
Consulting solutions basically designed to extend resources. The consulting services provide prospective planning of lead optimization, safety assessment, metabolism, and analytical study services among other benefits. Owing to the increased drug and therapeutics development activities in the pharmaceutical and biotechnological industries is one of the major driving factors which contributes to the growth of the consultancy segment by service providers. Thus, the consultancy by service provider segment is expected to dominate the market over the forecast period among other segments.
Moreover, the strategic activities by regional and global market players are accelerating the studied segment growth. For instance, In September 2020, Oncology Analytics, a leading data analytics, and technology-enabled services company launched Pharmacy Consulting Services designed to help health plans successfully navigate the world of anti-cancer drugs. Additionally, in April 2022, Snowflake Inc., a cloud computing-based data warehousing company launched a Healthcare and Life Sciences Data Cloud Consulting Services which enable organizations to securely centralize, integrate, and exchange critical and sensitive data at scale.
Again, in May 2022, Moses & Singer launched its new consulting company, MS Strategic Solutions LLC, to provide diverse strategic and advisory services to clients in digital healthcare/ life sciences sectors and others. Thus, increasing activities by major players in the country attributes to the studied market growth. In addition, in May 2022, Cigna, an American multinational managed healthcare and insurance company launched a new oncology consulting service to improve health outcomes for members. Thus, continuous activities by global market players is expected to drive the studied market segment.
Therefore, the consultancy segment is anticipated to witness growth over the forecast period owing to afore mentioned factors.
North America is Expected to Dominate the Market Over the Forecast Period
North America is expected to dominate the studied market. Factors, such as increasing research and development expenditure by biotechnology and pharmaceutical companies across the countries in the region, and booming clinical trials coupled with drug approvals, especially in the United States are driving the growth of the HEOR services market in North America.
The research and development (R&D) spending and the introduction of new drugs have both increased in the past two decades in the United States (U.S.). The U.S. pharmaceutical industry develops numerous new drugs every year which provide medical benefits.
Most drugs are expensive and contribute to rising health care costs for the private sector and the federal government. For instance, as per data provided by the Congressional Budget Office (CBO), the U.S. pharmaceutical industry spent nearly USD 83 billion on R&D which is about 10 times what the industry spent per year in the 1980s. The HEOR services helps healthcare service providers to pay attention to uncertain spending during or after drugs development. Hence, increasing expenditure in the pharmaceutical industries is poised to drive the studied market growth in the country.
Furthermore, increasing strategic activities by major players is one of the major driving factors attributed to the growth of the studied market. For instance, In August 2021, Syneos Health and Aetion partnered to provide regulatory-grade data and analytics-driven solutions to advance drug development and improve patient outcomes. The partnership brings together Syneos Health's proprietary data collection and research solutions with Aetion Evidence Platform (AEP) to generate evidence through patient data curation and real-world data.
In addition, In April 2022, Optum and Change Healthcare agreed to extend their merger agreement to December 31, 2022. Through this agreement Optum and Change Healthcare will connect and simplify the core clinical, administrative and payment processes health care providers and payers depend on to serve patients.
Therefore, owing to the aforesaid factors the growth of the HEOR services market is anticipated in the North America region.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing R&D Expenditure by Government and Market Players
4.2.2 Increasing adaption of HEOR Services by Biotech and Pharma Companies
4.2.3 Growing Demand for Real-World Evidence and Outcome Data for Reimbursement
4.2.4 Growing Pharmaceutical and Biotechnology Companies coupled with Upsurge of New Drugs and Increasing Clinical Trials
4.3 Market Restraints
4.3.1 Lack of Skilled Healthcare Professional
4.3.2 Restrictions on Access to Real-World Data (RWD)
4.4 Porter's Five Force Analysis
5 MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Service
5.2 By Service Provider
5.3 By End User
5.4 Geography
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/x9eajp.
