Europe HEOR Services Market size exceeded USD 324.6 million in 2021 and is estimated to witness 12.7% CAGR from 2022 to 2028.

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The increasing demand for health economics and outcomes research services by several healthcare industries for clinical trials, new innovations, and increasingly complex regulatory environment, will boost the industry growth. Health economics and outcomes research (HEOR) services support clinical development by assisting the healthcare sector in determining services, availability of specific drugs, and policy measures.

Several European countries, most notably the United Kingdom and the Netherlands, have a higher success rate in launching new drugs as these economies are highly dependent on various decisions made by government agencies. For instance, the European commission put forward Clinical Trails Regulation that became applicable from 31st January 2022. The aim of these regulations is to make sure an increased co-ordination of rules of conducting clinical trials throughout the Europe.

Europe Market, By Service

The real-world data analysis and information systems segment crossed USD 48.4 million revenue in 2021, owing to the increasing demand for real-world data (RWD) to enhance the management of service providers for diseases, patient populations and clinical information. Similarly, the advancement of technology in Europe and rising digitalization of medical records has made the whole real-world data more readily accessible for various outcomes research and regulatory purposes, driving market demand.

Europe Market, By Service Provider

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The contract research organisations (CROs) segment dominated over 68.6% Europe health economics and outcomes research (HEOR) services market share in 2021. Several companies, including IQVIA, Syneos Health, and Covance, provide contract-based research services. The growing contract research organization services will prove favourable for the advancement of the health economics and outcome research industries. Furthermore, surge in healthcare expenditure and rising government initiatives in field of biotechnology sector will boost the overall market growth.

Europe Market, By End-user

In 2021, the healthcare payers segment accounted for USD 93.4 million revenue. Healthcare payers rely heavily on health economics and outcomes research (HEOR) services as a result of the shift to cost-effective reimbursement, increased consumer-driven healthcare, and elevated use of specialized, personalized medicines and targeted therapies. Furthermore, operational efficiencies with lower costs and increasing adoption of digital solutions with increased IoT in the medical industry allows healthcare systems to integrate across different platforms.

Europe Market, By Country

France health economics and outcomes research (HEOR) services market held more than 13.4% revenue share in 2021, attributed to rising R&D expenditure and digitalization of systems. Additionally, rising healthcare expenditure will also propel the market demand. Also, major in the country are focusing on various strategic initiatives including technological advancements, partnerships and collaborations that help the industry progression.

Competitive Industry Landscape

Prominent players in the health economics and outcomes research (HEOR) services market are Pharmaceutical Product Development (PPD), IQVIA, Axtria, Cardinal Health, Syneos Health, Avalon Health Economics, Optum, McKesson, PharmaLex, MEDLIOR, among others.