Asia Pacific HEOR Services Market size was valued at USD 149 million in 2021 and is set to observe around 14.2% growth rate between 2022 and 2028.

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The market growth is due to the surge in number of clinical trials in the APAC region. Clinical trials usually involve research and study of new tests and treatments that can be evaluated for their effects on human health outcomes. These trials are used to test medical interventions such as drugs, radiological procedures, surgical procedures, devices, behavioural treatments, and preventive care. Furthermore, major market players in Asia-Pacific region are focusing on the development of new drugs that will increase the demand for clinical trials, thereby boosting the overall market growth.

Asia Pacific Market, By Service

The Asia Pacific market from clinical outcome segment accounted for USD 51 million revenue in 2021. Demand for clinical outcome services has increased as it is beneficial in maintaining transparency and accountability. Clinical outcome includes tools for evaluating impact of healthcare interventions on patient related clinical outcomes. It offers patients with informed choices for their care, enables doctors or surgeons for improving their practices.  

Asia Pacific Market, By Service Provider

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The consultancy segment will grow at 14.7% CAGR during the forecast timeline, attributed to firms offering business decisions for growth and strategies to achieve patient satisfaction. Consultancies are beneficial as they provide insights, valuable decisions, and pragmatic solutions to the customers and patients. Moreover, these consultancies focus majorly on improving the organizations efficiency reducing costs and increasing profitability, identifying problems, and offering creative strategic solutions, ensures patients safety and customer satisfaction. With technological advancements consultancy services can also be accessed remotely. This provides a quick and simple solution to diagnose, treat and provide solutions with at-home services.

Asia Pacific HEOR Services Market, By End-user

The government organizations segment held over 17% market share in 2021. Government organizations are inclined towards health economics & outcomes research services as it offers valuable data to healthcare decision makers, patients, and healthcare providers for optimal administration of healthcare resources.

Asia Pacific Market, By Country

Japan HEOR services market size was around USD 47.8 million in 2021, owing to high value-based care in the region. Additionally, rising technological advancements along with the presence of major HEOR service providers will boost market growth.

Competitive Industry Landscape

Major industry players include Axtria, Inc., MEDLIOR, Avalon Health economics LLC, IQVIA Inc., ICON PLC, and Syneos Health. These players adapted various strategies such as product launches and expansion with innovations and technology that have helped them in assisting the market competition and gain significant position in the market. For instance, in 2020 ICON PLC delivered around 350 HEOR projects to 72 clients across the globe. This strategy helped health technology assessment and patient-focused solutions to expand across the market.