| Study Period | 2019 - 2030 |
| Market Size (2025) | USD 1.75 Billion |
| Market Size (2030) | USD 3.29 Billion |
| CAGR (2025 - 2030) | 13.47 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Health Economics & Outcomes Research (HEOR) Services Market Analysis
The Health Economics And Outcomes Research Services Market size is estimated at USD 1.75 billion in 2025, and is expected to reach USD 3.29 billion by 2030, at a CAGR of 13.47% during the forecast period (2025-2030).
The growth of the HEOR services market is attributed to increased R&D spending by the government and market players along with the increasing adoption of HEOR services by biotech and pharmaceutical companies. In addition, the growing demand for real-world evidence and outcome data for reimbursement is also one of the major factors influencing the market.
Moreover, due to the increasing number of pharmaceutical and biotech companies worldwide, coupled with the rise of new drugs and increasing clinical trials, the market under study is poised for lucrative growth in the coming years. As of October 2024, clinicaltrials.gov reports a total of 515,318 clinical trials recorded globally. The anticipated increase in clinical trials is expected to drive the global demand for advanced HEOR services. As these trials produce substantial volumes of clinical, safety, and efficacy data, HEOR services are essential for converting this data into actionable insights, thereby accelerating the growth of the studied market.
The increasing demand for real-world evidence (RWE) is driving the market for Health Economics and Outcomes Research (HEOR) services. Pharmaceutical and biotechnology companies are leveraging RWE to support drug approvals and reimbursement decisions, thereby enhancing the credibility of their products in a competitive market. This shift towards evidence-based medicine enables healthcare providers and payers to make informed decisions, leading to improved patient outcomes. For instance, in October 2023, Curavit Clinical Research launched HEOR services specifically for digital therapeutic trials. This strategic initiative aims to assess the financial impact of digital therapeutics by integrating HEOR evaluations into clinical trials. By analyzing clinical outcomes and economic data, Curavit enables manufacturers to demonstrate product value to payers, thereby facilitating broader insurance coverage and adoption of these innovative therapies.
The strategic activities by the market players such as the implementation of HEOR services in their project are expected to propel the growth of the market. For instance, in May 2024, TKomodo Health published 33 new health economics and outcomes research (HEOR) studies utilizing its Healthcare Map and AI-driven technology platform. These studies, set to be showcased at the 2024 International Society for Pharmacoeconomics and Outcomes Research (ISPOR) Global Conference, illuminate significant disease trends across various domains, including women’s health, oncology, mental health, hypertension, and neurology. Researchers from leading institutions and Life Sciences companies harnessed Komodo’s technology platform and Healthcare Map to uncover insights. These insights centered on patterns in clinical outcomes, healthcare resource utilization (HCRU), disease burden, comparative effectiveness, and potential complications linked to approved treatments for distinct patient populations.
Therefore, owing to the aforementioned factors, the studied market is anticipated to witness growth over the forecast period. However, a lack of skilled healthcare professionals and restrictions on access to real-world data (RWD) may hinder the market's growth over the forecast period.
Health Economics & Outcomes Research (HEOR) Services Market Trends
Consultancy Segment is Expected to Dominate the Market Over the Forecast Period
Consultancy firms are pivotal in health economics and outcomes research (HEOR), equipping pharmaceutical, biotech, and medical device companies with the expertise, tools, and methodologies needed to showcase their products' value. These consultancies develop models that illustrate how a product achieves superior health outcomes at a comparable or reduced cost relative to alternatives. Additionally, consultancy firms delve into real-world data, sourcing insights from electronic health records (EHRs), claims databases, and registries. The increased activities in the development of drugs and therapeutics in the pharmaceutical and biotech industries are one of the main drivers contributing to the growth of the consulting segment.
The increasing collaboration of market vendors with consulting firms to implement HEOR services for the end user is expected to boost segment growth. For instance, in April 2024, PharmAlliance acquired Complete Health Economics Outcomes Research Solutions (CHEORS), a prominent provider of health economics and outcomes research (HEOR) and market access services for the pharmaceutical, biotechnology, and medical device sectors. This strategic move bolsters PharmAlliance's global presence and enhances its capabilities in product launches and commercialization. Moreover, strategic activities in consulting firms providing HEOR services are expected to propel the segment's growth. For instance, in August 2024, ADVI Health acquired the Partnership for Health Analytic Research (PHAR), a global consultancy specializing in health technology assessment (HTA) and health economics and outcomes research (HEOR). PHAR is recognized for delivering high-impact, data-driven insights to major biopharmaceutical sponsors and clients.
Therefore, the consultancy segment is anticipated to witness growth over the forecast period owing to the aforementioned factors.
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North America Holds Significant Share in the Market and Expected to Grow in Forecast Period
North America is poised to lead the HEOR services market. Key drivers include heightened R&D spending by biotech and pharmaceutical firms across the region and a surge in clinical trials and drug approvals, particularly in the United States.
Growing awareness of HEOR services in the United States is set to bolster market expansion. For example, in November 2022, Alira Health hosted a webinar on Health Economics and Outcomes Research (HEOR) tailored for the United States healthcare system. Furthermore, partnerships between industry players and consulting firms are anticipated to fuel market growth. A case in point: in January 2023, Deloitte Canada announced its collaboration with Synergyx, a Montreal-based consulting firm with a focus on HEOR in the health sector. Leaders from Synergyx are set to integrate into Deloitte’s Economic Advisory practice, offering strategic insights on critical matters like healthcare costs, vaccine distribution, and wait times.
Moreover, strategic activities by key players significantly drive the market's growth. For instance, in September 2023, MORSE Consulting and Medlior Health Outcomes Research, both key players in Canada's pharmaceutical market access, united forces. Their collaboration aims to blend MORSE's expertise in payer and HTA strategies with Medlior's cutting-edge real-world evidence solutions, offering clients a streamlined approach to the complex pharmaceutical market access landscape. Such collaboration creates significant synergies and improves the services offering, expands the market reach, and drives the innovation that is expected to propel the market segment growth.
Given these dynamics, including increased R&D expenditure, rising clinical trials and drug approvals, growing awareness of HEOR services, and strategic collaborations among key players, the HEOR services market is set for significant growth in North America.
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Health Economics & Outcomes Research (HEOR) Services Industry Overview
The HEOR services market is fragmented and consists of several major players. Increasing strategic activities by regional and global players are increasing the competitive environment of the market studied. Some of the market players are Cardinal Health, McKesson CORPORATION, Axtria, Inc., Avalon Health Economics LLC, MEDLIOR, UnitedHealth Group (Optum, Inc.), and PHARMALEX GMBH, among others.
Health Economics & Outcomes Research (HEOR) Services Market Leaders
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McKESSON CORPORATION
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Axtria, Inc.
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Syneos Health
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UnitedHealth Group (Optum, Inc.)
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PHARMALEX GMBH
- *Disclaimer: Major Players sorted in no particular order
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Health Economics & Outcomes Research (HEOR) Services Market News
- December 2023: Komodo Health was chosen by the Comparative Health Outcomes, Policy, and Economics (CHOICE) Institute at the University of Washington’s School of Pharmacy to collaborate on generating real-world insights in comparative outcomes and cost-effectiveness research and analytics in United States.
- November 2023: Fishawack Health (FH), a leading commercialization partner for biopharmaceutical, medical technology, and wellness cCuravit Clinical Research, a virtual contract research organization (VCRO) introduced a Health Economics and Outcomes Research (HEOR) service tailored for clinical trials. Curavit, integrating HEOR into clinical trials will provide medicine manufacturers with valuable insights into their product's value and market potential.ompanies, acquired the US-based health economics and outcomes research (HEOR) consultancy Policy Analysis Inc. (PAI) as part of its expanding Value, Evidence, and Access (VEA) capability.
Health Economics & Outcomes Research (HEOR) Services Industry Segmentation
As per the scope of the report, health economics and outcomes research (HEOR) services guide healthcare providers to examine and select from multiple treatment options. The HEOR services establish and measure the link between treatment and actual outcomes. Therefore, enables evidence-based guidance on how to improve care. The health economics and outcomes research (HEOR) services market is segmented by service, service, providers, end user, and geography. By services, the market is segmented as economic modelling/evaluation, real-world data analysis and information systems, clinical outcome, and market access solutions and reimbursement, among others. By service provider, the market is segmented as consultancy and contract research organizations (CROs). By end-users, the market is segmented as biotech/pharma companies, healthcare providers, government organizations, and healthcare payers. By geography, the market is segmented as North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD) for the above segments.
| By Service | Economic Modelling/Evaluation | ||
| Real-World Data Analysis and Information Systems | |||
| Clinical Outcome | |||
| Market Access Solutions and Reimbursement | |||
| Others | |||
| By Service Provider | Consultancy | ||
| Contract Research Organizations (CROs) | |||
| By End User | Biotech/Pharma Companies | ||
| Healthcare Providers | |||
| Government Organizations | |||
| Healthcare Payers | |||
| Geography | North America | United States | |
| Canada | |||
| Mexico | |||
| Europe | Germany | ||
| United Kingdom | |||
| France | |||
| Italy | |||
| Spain | |||
| Rest of Europe | |||
| Asia-Pacific | China | ||
| Japan | |||
| India | |||
| Australia | |||
| South Korea | |||
| Rest of Asia-Pacific | |||
| Middle East and Africa | GCC | ||
| South Africa | |||
| Rest of Middle East and Africa | |||
| South America | Brazil | ||
| Argentina | |||
| Rest of South America | |||
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Health Economics And Outcomes Research (HEOR) Services Market Research Faqs
How big is the Health Economics And Outcomes Research Services Market?
The Health Economics And Outcomes Research Services Market size is expected to reach USD 1.75 billion in 2025 and grow at a CAGR of 13.47% to reach USD 3.29 billion by 2030.
What is the current Health Economics And Outcomes Research Services Market size?
In 2025, the Health Economics And Outcomes Research Services Market size is expected to reach USD 1.75 billion.
Who are the key players in Health Economics And Outcomes Research Services Market?
McKESSON CORPORATION, Axtria, Inc., Syneos Health, UnitedHealth Group (Optum, Inc.) and PHARMALEX GMBH are the major companies operating in the Health Economics And Outcomes Research Services Market.
Which is the fastest growing region in Health Economics And Outcomes Research Services Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).
Which region has the biggest share in Health Economics And Outcomes Research Services Market?
In 2025, the North America accounts for the largest market share in Health Economics And Outcomes Research Services Market.
What years does this Health Economics And Outcomes Research Services Market cover, and what was the market size in 2024?
In 2024, the Health Economics And Outcomes Research Services Market size was estimated at USD 1.51 billion. The report covers the Health Economics And Outcomes Research Services Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Health Economics And Outcomes Research Services Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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Health Economics And Outcomes Research (HEOR) Services Industry Report
Statistics for the 2025 Health Economics And Outcomes Research (HEOR) Services market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Health Economics And Outcomes Research (HEOR) Services analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
