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.

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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

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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.