North America Health Economics and Outcomes Research Services Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Service ; Service Provider ; End User

North America Health Economics and Outcomes Research Services Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Service ; Service Provider ; End User

  • August 2021 •
  • 122 pages •
  • Report ID: 6134388 •
  • Format: PDF
The health economics and outcomes research (HEOR) services market in North America is expected to reach US$ 1,253.4 million by 2027 from US$ 548.8 million in 2020; it is estimated to grow at a CAGR of 12.5% from 2020 to 2027. The HEOR plays a vital role in providing comparative account for choosing products and services. Selecting appropriate products or services assists healthcare facilities in assuring improved health outcomes in patients, with justified healthcare spending. The research also provides valuable insights that lead to reduced waste of resources, including products, services, and money. HEOR services are essential to identify the best deployment policies that would benefit patients as well as justify the healthcare budgets. They would also help healthcare service providers to pay attention to uncertain spending on unnecessary surgeries and clinical procedures. The HEOR consultation is likely to encourage the use of generic drugs; drive the focus toward updating the skills of nurses, especially to manage chronic conditions; and disallow hospital stays for patients who do not require hospital care and can be treated through primary care.

The North America health economics and outcomes research (HEOR) services market is segmented on the bases of service, service provider, and end user.Based on service, the clinical outcome segment held the largest share of the market in 2019, whereas the real-world data analysis and information systems segment is expected register the highest CAGR during the forecast period.

The projected growth of the segment can be attributed to increasing awareness regarding real-world data analysis and information systems.

At present, the majority of pharmaceutical companies and research institutes in North America are engaged in the development of COVID-19 vaccines.The COVID-19 crisis has highlighted the use of real-world evidence (RWE) in the pharmaceutical industry.

Moreover, the FDA has acknowledged the value of using RWE to understand this disease and to assess potential re-purposed treatments being used in practice.A prominent example of RWE data is Pfizer’s Ibrance, which is used for breast cancer and had undergone trials only for women.

Governments can rely on the HEOR to obtain economic data on the burden of disease, cost-effectiveness of vaccines, and projected implementation costs of immunization programs to reach universal health coverage. Evidence regarding the evaluation of infectious disease and economic impact of vaccination is critical in informing national decision-makers about the allocation of limited resources and in prioritizing interventions in the health sector.

The overall North America Health economics and outcomes research (HEOR) services market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

The process also serves the purpose of obtaining overview and forecast for the North America Health economics and outcomes research (HEOR) services market with respect to all the segments.Also, multiple primary interviews have been conducted with industry participants to validate the data as well as to gain more analytical insights into the topic.

The participants typically involved in the process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the North America Health economics and outcomes research (HEOR) services market. Axtria, Inc., Avalon Health Economics LLC, MEDLIOR, PHARMALEX GMBH, Analysis Group, ICON PLC, IQVIA Inc., McKESSON CORPORATION, Syneos Health, and Optum, Inc. are among the players operating in the market in this region.
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