North American HEOR Service Market size is predicted to surpass USD 893 million by 2028, according to a latest forecast report by Graphical Research.
In recent times companies are outsourcing research and developmental activities from external businesses as it is less expensive and more efficient than building in-house infrastructure and hiring all of the necessary research team. Amid pandemic the pharmaceutical industry is anticipated to witness upsurge in discoveries and inventions, therefore practicing in-house clinical research and trials will become difficult for the companies, thus encouraging outsourcing activities. Hence, the aforementioned factors will result in outsourcing of R&D activities, thereby accelerating market expansion.
The economic modelling and evaluation segment accounted for more than USD 93 million revenue in 2021. Economic modelling and evaluation services include comparative effectiveness analysis and budget impact analysis. In addition, this model is cost-effective as it provides information from different mediums to analyze secure reimbursement.
The consultancy segment was valued at USD 128 million revenue in 2021 owing to presence of major consultancy companies such as IQVIA, Cardinal Health and Syneos Health in the region. These consultancies helps in guiding and offering opinions and guidance to mark regulatory needs. In addition, they also help in examining predictive database and statistical analysis.
Browse detailed statistical insights from the report, “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” along with the table of contents (ToC) @
The biotech and pharma companies segment held around 37% market share in 2021 attributed to presence of large number of pharma companies in North America. As, demand for precision medicine and value-based care rises, HEOR is transitioning from a support function to a key position in pharmaceutical businesses. Similarly, increasing direct collaborations of pharma companies with distributors and drug manufacturers.
The Canada HEOR services industry will witness 13% CAGR during the analysis period. Presence of well-established healthcare firms will positively promote country’s market growth. HEOR services are being used by companies in the country for a transparent and customizable cost-effectiveness model for a pre-launch drug. Similarly, increasing funding for research and development will propel the market progression.
The North American HEOR service market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2017 to 2028, for the following segments:
North America Market, By Service
- Real World Data Analysis & Information Systems
- Economic Modelling/Evaluation
- Market Access Solutions & Reimbursement
- Clinical Outcomes
North America Market, By Service Provider
- Contract Research Organization
North America Market, By End-user
- Healthcare Providers
- Biotech/Pharma Companies
- Healthcare Payers
- Government Organizations
The above information has been provided for the following countries: