Global Health Economics & Outcomes Research Services Market to Grow at 13% CAGR Forecast to 2030

The global health economics and outcomes research services market is expected to grow at a CAGR of ~13% during the forecast period. Increase in R&D spending by the pharmaceutical and biotech companies, growing demand for real-world evidence, rising focus on value-based care models, and increasing awareness of the importance of health economics and outcomes research services are some of the key factors driving the market growth. However, limited access to real-world data and the high cost of research remains major constraints for the health economics and outcomes research services market growth. 

Health economics and outcomes research (HEOR) services play a key role in the healthcare industry by helping different stakeholders understand the real value of medical products and treatments. HEOR services include evaluation of the economic value, clinical outcome assessment, and how effective a treatment is, and how it affects patients' daily lives. These insights are especially important today as healthcare systems focus more on improving patient outcomes while also controlling costs.

In healthcare industry that is increasingly shifting toward value-based care and outcome-driven reimbursement models, HEOR has become essential for demonstrating the value proposition of drugs, medical devices, and healthcare services. Governments and insurance providers rely on HEOR evidence to make informed decisions about pricing, reimbursement, and coverage, while pharmaceutical and biotech companies use HEOR data to support market access, regulatory submissions, and health technology assessments (HTAs). With the rising demand for cost-effective and patient-centric care, the HEOR services market is gaining traction globally.

Click here to get our sample PDF report for Medical Devices market:
https://meditechinsights.com/health-economics-and-outcomes-research-services-market/request-sample/

Expanding role of real-world evidence in healthcare evaluation

One of the primary drivers contributing to the growth of the HEOR services market is the increasing demand for real-world evidence (RWE). RWE is derived from clinical data collected from everyday medical practice, including electronic health records (EHRs), insurance claims, patient registries, and digital health apps. Unlike clinical trials, RWE reflects on the effectiveness, safety, and usage of medical interventions across diverse patient populations in everyday clinical practice.

As healthcare systems globally transition toward value-based care and personalized medicine, stakeholders such as regulatory agencies, healthcare payers, and providers rely on RWE to support decision-making. For instance, in December 2024, the US FDA’s Center for Drug Evaluation and Research (CDER) established the Center for Real-World Evidence Innovation (CCRI), which is set up to improve the quality, collection, and application of RWE in regulatory decision-making. This growing demand for RWE significantly strengthens the position of HEOR as a critical component in shaping effective, evidence-based healthcare policies and practices. For instance, in October 2023, Curavit, a virtual contract research organization (VCRO) specializing in decentralized clinical trials (DCTs) for digital therapeutics (DTx), launched its dedicated HEOR Practice, intended to meet the growing demand for real-world evidence by integrating HEOR services into clinical trials.

Integration of AI and analytics enhances HEOR methodologies

Advanced analytics allows accurate forecasting, segmentation, and cost-effectiveness modelling by leveraging large-scale datasets, including RWE, EHRs, and insurance claims. AI, particularly machine learning (ML) and natural language processing (NLP), supports automated data processing, pattern recognition, and predictive modelling, which is improving the speed, precision, scalability and reducing manual errors.

The increasing adoption of advanced analytics and artificial intelligence (AI) is emerging as a significant trend in the HEOR services market. As healthcare data becomes more complex and voluminous, traditional analytical methods are no longer sufficient to extract meaningful insights efficiently. To address this, HEOR service providers are integrating advanced analytical tools and AI technologies to enhance data interpretation, model development, and decision-making processes. For instance, in September 2024, IQVIA launched its AI Assistant, a smart, conversational tool that helps life sciences professionals quickly analyze healthcare data, identify patient cohorts, and generate predictive insights to support faster, smarter decision-making.

Competitive Landscape Analysis

The global health economic and outcomes research services market is marked by the presence of established and emerging market players such as McKesson Corporation; IQVIA Inc.; ICON plc.; Syneos Health, Inc.; Medlior Health Outcomes Research Ltd.; Paraxel International Corporation; Axtria Inc.; Cardinal Health Inc.; Optum Inc.; and Avalon Health Economics LLC; among others. Some of the key strategies adopted by market players include new product development, strategic partnerships and collaborations, and geographic expansion.

Get PDF Report for Competitive Analysis:
https://meditechinsights.com/health-economics-and-outcomes-research-services-market/request-sample/

Global Health Economics and Outcomes Research Services Market Segmentation

This report by Medi-Tech Insights provides the size of the global health economics and outcomes research services market at the regional- and country-level from 2023 to 2030. The report further segments the market based on service type, service provider, and end-user.

Market Size & Forecast (2023-2030), By Service Type, USD Million

• Economic Modelling & Evaluation
• Real World Data Analysis
• Market Access Solutions
• Clinical Outcome Assessment
• Others

Market Size & Forecast (2023-2030), By Service Provider, USD Million

• Contract Research Organizations
• Consultancy

Market Size & Forecast (2023-2030), By End-user, USD Million

• Pharma and Biotech Companies
• Government Organizations
• Healthcare Providers
• Healthcare Payers
• Others

Market Size & Forecast (2023-2030), By Region, USD Million

• North America
• US
• Canada
• Europe
• UK
• Germany
• France
• Italy
• Spain
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• Rest of Asia Pacific
• Latin America
• Middle East & Africa

About Medi-Tech Insights

Medi-Tech Insights is a healthcare-focused business research & insights firm. Our clients include Fortune 500 companies, blue-chip investors & hyper-growth start-ups. We have completed 100+ projects in Digital Health, Healthcare IT, Medical Technology, Medical Devices & Pharma Services in the areas of market assessments, due diligence, competitive intelligence, market sizing and forecasting, pricing analysis & go-to-market strategy. Our methodology includes rigorous secondary research combined with deep-dive interviews with industry-leading CXO, VPs, and key demand/supply side decision-makers.

Contact:

Ruta Halde
Associate, Medi-Tech Insights
+32 498 86 80 79
info@meditechinsights.com