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    North America Health Economics & Outcomes Research (HEOR) Services Market Forecast 2028 By Service Provider (Contract Research Organizations [CROs], Consultancy), By End-user (Healthcare Providers, Healthcare Payers, Biotech/Pharma Companies, Government Organizations), By Service (Economic Modelling/Evaluation, Real-world Data Analysis & Information Systems, Clinical Outcome, Market Access Solutions & Reimbursement), Research Report, Country Outlook (U.S., Canada), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share
    Published Date: April 2022   |   Report ID: GR2097   |   Delivery: PDF  Request Free Sample

    North America Health Economics & Outcomes Research (HEOR) Services Market size crossed USD 404 million in 2021 and is anticipated to expand at a CAGR of 12.2% between 2022 and 2028.

    North America Health Economics & Outcomes Research (HEOR) Services Market

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    Surge in number of clinical trials globally will drive the market expansion. As, health economics and outcomes research (HEOR) complement clinical development by helping healthcare payers as well as decision makers to determine services, reimbursement policies and patient access for specific drugs. Healthcare economic outcomes providers offer collected clinical outcome data, that help in evaluating the impact of the therapy on overall resource use, thus enabling performance of an economic evaluation.

    North America Market, By Service

    The real-world data analysis & information systems segment accounted for over USD 65 million revenue in 2021. Real-world data (RWD) generates real-world evidence (RWE) to provide useful information that helps in decision-making to the healthcare providers and other healthcare-related investment. It also compliments clinical trials findings and help fill knowledge gaps related to how a medication is used in the real world. Similarly, with advanced technology and electronic medical records real world data has been increasingly accessible and useful for outcomes research & regulatory purposes, thus, proving beneficial for the market growth.

    North America Market, By Service Provider

    North America Health Economics & Outcomes Research (HEOR) Services Market By Service Provider

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    The contract research organizations segment will showcase around 12% growth rate during the forecast timeline. Demand for CROs offering companies have increased, as these companies offer support to the biotechnology, pharmaceutical, and medical device industries in the form of research services outsourced on a contract basis. Additionally, increasing demand for secured services such as preclinical testing and clinical along with regulatory approvals will improve the overall market revenue.

    North America Market, By End-user

    The healthcare payers segment held more than 28.5% North America HEOR services market share in 2021. Healthcare payers are largely dependent on health economics & outcomes research solutions due to rising consumer guided healthcare, and value-based reimbursement. In addition, driving operational efficiencies with low costs and transforming to innovative payer solutions allows healthcare systems to line-up various platforms thus contributing to industry progression.

    North America Market, By Country

    The U.S. HEOR services market will grow at 12% CAGR through 2028. The U.S. market consists of skilled service providers with approved records within the healthcare industry. Major market players such as MEDLIOR, Avalon Health economics LLC, IQVIA Inc., and others are focusing on drug development and thus, benefiting health economics and outcomes research (HEOR) service market based on the data and research activities. In addition, different government agencies are participating and taking initiative for these services leading to increased market size.

    Competitive Industry Landscape

    Some of the leading companies involved in the North America health economics and outcomes research (HEOR) services market include Axtria, Inc., Avalon Health Economics LLC, Pharmalex, MEDLIOR, ICON, IQVIA, Optum, Inc., Cardinal Health. These companies have adopted various strategies such as product launches and expansion with innovations and technology that have helped them in sustaining the market competition.

    Frequently Asked Question(FAQ) :

    Why is North America HEOR services industry growing?
    The market size for Health Economics & Outcomes Research (HEOR) services in North America was around USD 404 million during 2021 and could expand at 12.2% CAGR over 2022-2028 with an increasing number of clinical trials.
    How are contract research organizations (CROs) impacting North America HEOR services market?
    The industry share for HEOR services in North America from CROs segment is anticipated to witness a 12% growth rate between 2022-2028 due to increased requirement from pharmaceutical, biotech and medical device companies.
    Why are healthcare players in North America adopting HEOR services?
    Healthcare players accounted for over 28.5% share for the industry during 2021 with higher focus on consumer guided medical services and value-based reimbursement.
    How is the U.S. HEOR services sector growing?
    It is projected that U.S. industry share will expand at nearly 12% CAGR through 2028 with the presence of prominent service providers and numerous pharma companies focusing on key drug development activities.
    Who provides HEOR services in North America?
    Major industry players in North America include Avalon Health Economics LLC, Cardinal Health, IQVIA, ICON, MEDLIOR and Pharmalex.

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