European HEOR Service Market size is projected to cross USD 732 million by 2028, according to a latest forecast report by Graphical Research.
Increasing focus of pharmaceutical and biotechnology companies on novel drug development for the treatment of various chronic diseases is one of the major factors drive the market growth. As various pharma companies have started integrating in-house market access and R&D teams with expertise in health economics and outcomes research for drug development processes. Additionally, focus of most of the companies on exploring different strategies, including long term strategic relationships will also increase the demand for HEOR services. Furthermore, rising incidences of COVID-19 infections and its adverse effect worldwide has increased the demand of R&D sector to provide effective prevention and treatment options to reduce infection spread.
The economic modelling and evaluation segment accounted for USD 80.4 million revenue in 2021 due to rising demand for numerous economic modelling and evaluation services, for effective economic impact analysis. Furthermore, economic modelling evaluation model is affordable as it delivers data and its evidence from several sources to help study which intrusion represents a better value option during payment.
The consultancy segment will expand at 13% CAGR during the analysis timeline. The consultancies assist organizations by providing proper counselling on regulatory needs. Consultancies also help pharma companies in reviewing, co-relating the database and statistical data analysis. Furthermore, they also assist with literature reviews and provide pharma companies meticulously designed plan to help clients to achieve accurate solutions. They also deliver regulatory information that aids in the firm's overall development.
Browse detailed statistical insights from the report, “Europe Health Economics & Outcomes Research (HEOR) Services Market Forecast 2028 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), By Service Provider (Contract Research Organizations [CROs], Consultancy), Research Report, Country Outlook (Germany, UK, France, Italy, Spain, Russia, Denmark, Sweden, Poland), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
The biotech & pharma companies segment dominated over 36.6% market share in 2021 attributed to rising adoption of HEOR services by the various biotech and pharma companies for development and approval of new product and drug-development. Furthermore, pharmaceutical companies use HEOR services to optimize and accelerate every stage of early drug development in order to improve drug discovery success rates and lower R&D expenditures.
Germany HERO service industry will exhibit a CAGR of 12% through 2028, owing to the increasing awareness and adoption of HEOR services for customized and cost-effective model for new product launch. According to the Federal Ministry of Education and Research, R&D expenditure of German industry increased by 4.8% between 2017 and 2018.
The European HERO 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:
Europe Market, By Service
- Economic Modelling/Evaluation
- Real World Data Analysis & Information Systems
- Clinical Outcome
- Market Access Solutions & Reimbursement
Europe Market, By Service Provider
- Contract Research Organizations
Europe Market, By End-user
- Healthcare Providers
- Healthcare Payers
- Biotech/Pharma Companies
- Government Organizations
The above information has been provided for the following countries: