APAC HEOR Service Market size is expected to reach USD 371 million by 2028, according to a latest forecast report by Graphical Research.
Rising R&D expenditure for novel drug development will positively promote the market growth. Countries such as Japan, and China and India have surged their spending on the research and developmental activities in recent years. Moreover, growing ageing population, rising prevalence of chronic disease, and growing demand for cost effective digital health have also boosted R&D investment in recent years.
The real-world data analysis & information systems segment accounted for USD 20.8 million revenue in 2021. It provides information useful in decision making for healthcare sector. Real-world evidence also compliments the clinical trials data findings and help to decide how a medication is used in real world. Such advancing technologies for data interpretation and analysis propel the market demand.
The CROs segment will witness over 13.9% CAGR during the analysis period. Consultants play a crucial role in addressing issues pertaining to high cost of prescription drugs and measures to reduce healthcare costs. Consultancies help companies to tackle challenges pertaining to commercialization within a complicated environment and risky R&D landscape by conducting retrospective and prospective database studies, statistical analysis and literature reviews. Also, surging preference towards consultancies that offer appropriate commercial solutions and aid in decision making will offer several opportunities for industry growth.
Browse detailed statistical insights from the report, “Asia Pacific Health Economics & Outcomes Research (HEOR) Services Market Forecast 2028 By Service (Economic Modelling/Evaluation, Real-world Data Analysis & Information Systems, Clinical Outcome, Market Access Solutions & Reimbursement), By Service Provider (Contract Research Organizations [CROs], Consultancy), By End-user (Healthcare Providers, Healthcare Payers, Biotech/Pharma Companies, Government Organizations), Research Report, Country Outlook (Japan, China, India, Australia, South Korea, Philippines, Indonesia, Singapore, Thailand), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
The healthcare payers segment held over 32% market share in 2021 owing to growing impact of HEOR services on payer decision making. Healthcare payers highly rely on HEOR studies due to shift from fee-for-service to value-based reimbursement, rising consumer driven healthcare as well as increasing use of specialty drugs & targeted therapies.
China HEOR service industry will be captured around 15.3% CAGR during the forecast period attributed to rapidly growing medical industry, substantial investment in big data infrastructure and insurance and pricing reform. Additionally, the government has also taken notable efforts to improve patient access to orphan and high-cost drugs through expedited review and fast-track pathways for innovative therapies, targeted and agile negotiation and rapid review of essential medicine. Also, new program of centralized generics purchasing have done a great deal to bring more affordability and access for patients in the country.
The APAC HEOR service market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue in USD million from 2017-2028, for the following segments:
Asia Pacific Market, By Service
- Economic Modelling/Evaluation
- Real World Data Analysis & Information Systems
- Clinical Outcome
- Market Access Solutions & Reimbursement
Asia Pacific Market, By Service Provider
- Contract Research Organizations
Asia Pacific Market, By End-user
- Healthcare Providers
- Healthcare Payers
- Biotech/Pharma Companies
- Government Organizations
The above information has been provided for the following countries:
- Asia Pacific
- South Korea