Global HEOR Services Market Size, Share, and Trends Analysis Report – Industry Overview and Forecast to 2032

Global HEOR Services Market Size

• The global HEOR services market was valued at USD 1.24 billion in 2024 and is expected to reach USD 2.27 billion by 2032
• During the forecast period of 2025 to 2032 the market is likely to grow at a CAGR of 10.90%, primarily driven by the increasing demand for cost-effective healthcare solutions
• This growth is driven by factors such as growing emphasis on personalized medicine, advancements in healthcare technologies, increasing adoption of real-world data for decision-making, and the rising need for regulatory compliance and reimbursement strategies in healthcare systems

Global HEOR Services Market Analysis

• HEOR (Health Economics and Outcomes Research) services are crucial in evaluating the cost-effectiveness, value, and impact of healthcare interventions, providing essential insights for healthcare decision-making, reimbursement strategies, and policy formulation. These services play a key role in assessing treatment outcomes, improving healthcare delivery, and optimizing resource allocation
• The demand for HEOR services is primarily driven by the increasing need for cost-effective healthcare solutions, the shift towards value-based healthcare, and the rising focus on improving patient outcomes while controlling healthcare costs. Healthcare providers, payers, and governments rely on HEOR to make informed decisions about treatment options, healthcare policies, and reimbursement models
• North America is a dominant market for HEOR services, driven by a well-established healthcare infrastructure, substantial investments in research and development, and the widespread use of data analytics and real-world evidence to guide healthcare decisions. The U.S., in particular, leads the global HEOR market by integrating health economics into clinical and policy decision-making
• For instance, the U.S. healthcare system uses HEOR data extensively to evaluate the economic impact of new treatments, pharmaceuticals, and medical devices, influencing reimbursement and policy decisions at both state and federal levels
• Globally, HEOR services are critical for guiding health technology assessments (HTA), shaping healthcare policies, and supporting the introduction of new treatments by demonstrating their cost-effectiveness and long-term value in improving patient outcomes

Report Scope and HEOR Service Market Segmentation        

Global HEOR Service Market Trends

“Increasing Adoption of Real-World Data and Advanced Analytics”

• One prominent trend in the global HEOR services market is the growing adoption of real-world data and advanced analytics to evaluate the effectiveness and cost-efficiency of healthcare interventions
• These advancements enable more accurate, data-driven insights into the real-world performance of treatments, improving decision-making for healthcare providers, payers, and policymakers

• For instance, the integration of RWD and machine learning algorithms allows for better understanding of long-term patient outcomes, aiding in cost-effectiveness analysis and the optimization of treatment strategies
• Advanced analytics also facilitate the creation of predictive models for patient health outcomes, enabling proactive healthcare management and ensuring more precise resource allocation
• This trend is transforming the way healthcare economics are evaluated, leading to more informed decisions, improved patient care, and higher efficiency in healthcare systems globally

Global HEOR Service Market Dynamics

Driver

“Growing Demand for Evidence-Based Healthcare Decisions”

• The rising emphasis on evidence-based healthcare decisions is significantly contributing to the increased demand for HEOR (Health Economics and Outcomes Research) services
• As healthcare systems globally face increasing pressure to optimize costs while improving patient outcomes, health economics plays a crucial role in demonstrating the value of treatments and interventions
• Pharmaceutical and biotechnology companies are utilizing HEOR to provide data on the cost-effectiveness and budget impact of their therapies, helping them navigate reimbursement processes and gain market access
• The growing adoption of value-based healthcare systems further drives the need for detailed cost-effectiveness and outcomes data

For instance,

• In December 2023, according to an article published by the World Health Organization (WHO), the increasing shift towards value-based healthcare systems worldwide is acting as a significant driver for the global HEOR services market. The demand for robust evidence on treatment effectiveness, safety, and cost-efficiency is pushing healthcare providers, payers, and manufacturers to rely more on HEOR services
• In October 2022, an article published by the National Institutes of Health (NIH) highlighted the increasing trend of integrating HEOR data into policy-making, demonstrating the growing importance of these services in shaping healthcare strategies

• The rising emphasis on evidence-based healthcare decisions and value-based systems is significantly fueling the demand for HEOR services to optimize treatment value and outcomes

Opportunity

“Advancements in Real-World Data Utilization”

• The use of real-world data (RWD) is creating significant opportunities for growth in the global HEOR services market
• RWD provides insights into treatment effectiveness in routine clinical settings, offering a comprehensive understanding of long-term outcomes and safety profiles that controlled clinical trials may not capture
• The rise in the availability and integration of large healthcare datasets is enabling better healthcare decision-making and improving the quality of health economics analyses

For instance,

• In March 2024, according to a report from the European Medicines Agency (EMA), the increasing use of RWD in evaluating the effectiveness of treatments for chronic conditions, such as diabetes and cardiovascular diseases, is driving demand for HEOR services
• In June 2023, a study published in the Journal of Health Economics highlighted how RWD can help create more accurate cost-effectiveness models, enhancing market access and reimbursement strategies for new healthcare interventions

• The growing utilization of real-world data is enhancing the accuracy of health economics analyses, driving demand for HEOR services to improve treatment effectiveness and decision-making

Restraint/Challenge

“Data Privacy Concerns and Regulatory Challenges”

• Privacy concerns and regulatory challenges surrounding the use of patient data for HEOR are significant barriers to market growth
• The collection and analysis of real-world data raise concerns about the confidentiality and security of sensitive patient information, leading to complex regulatory frameworks that can slow down the adoption of HEOR services
• As governments and regulatory bodies tighten data protection laws, companies may face increased compliance costs and challenges in ensuring the proper use of patient data

For instance,

• In November 2024, according to a report by the Health Affairs journal, the tightening of data privacy regulations in Europe, such as the General Data Protection Regulation (GDPR), has created compliance challenges for companies relying on RWD in their HEOR studies
• In January 2023, the U.S. Food and Drug Administration (FDA) highlighted the growing concerns about data security and the need for clear policies to guide the ethical use of patient data in health economics research, further complicating the expansion of HEOR services

• Data privacy concerns and regulatory challenges surrounding the use of patient data are significant barriers to the growth and adoption of HEOR services

Global HEOR Services Market Scope

The market is segmented on the basis of service type, service provider and end user

Global HEOR Services Market Regional Analysis

“North America is the Dominant Region in the Global HEOR Services Market”

• North America dominates the global HEOR services market, driven by its advanced healthcare infrastructure, the presence of leading pharmaceutical and biotechnology companies, and strong demand for value-based healthcare models
• U.S. holds a significant share due to increasing focus on cost-effectiveness, the demand for high-quality healthcare outcomes, and ongoing regulatory reforms aimed at optimizing healthcare delivery
• The widespread adoption of advanced technologies, along with well-established reimbursement policies, further strengthens the market in North America. In addition, significant investments in research and development by key market players enhance the growth of the HEOR services sector
• The rise in value-based healthcare, driven by both public and private sector initiatives, is further fueling the demand for robust HEOR services to demonstrate the value of treatments, improve patient outcomes, and optimize healthcare costs

“Asia-Pacific is Projected to Register the Highest Growth Rate”

• Asia-Pacific is expected to witness the highest growth rate in the global HEOR services market, driven by rapid improvements in healthcare infrastructure, increasing healthcare spending, and the growing need for evidence-based decision-making
• Countries such as China, India, and Japan are emerging as key markets due to their large, aging populations, increasing rates of chronic diseases, and the rising demand for high-quality healthcare outcomes
• Japan’s advanced healthcare systems, combined with its aging population, continue to drive the need for HEOR services in the region, especially in the areas of cost-effectiveness and clinical outcomes
• China and India, with their growing healthcare expenditures, are witnessing increased investments in healthcare systems and policies that support evidence-based practices, further contributing to the growth of the HEOR services market

Global HEOR Service Market Share

The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to market.

The Major Market Leaders Operating in the Market Are:

• McKesson Corporation (U.S.)
• Axtria (U.S.)
• PHARMALEX GMBH (Germany)
• Syneos Health (U.S.)
• UnitedHealth Group (U.S.)
• Cardinal Health (U.S.)
• Avalon (U.S.)
• MEDLIOR (Canada)
• Analysis Group (U.S.)
• ICON plc (Ireland)
• Thermo Fisher Scientific Inc. (U.S.)
• IQVIA (U.S.)
• Certara (U.S.)
• Parexel International (MA) Corporation (U.S.)
• OPEN Health (U.K)
• RTI Health Solutions (U.S.)
• Deloitte (U.K)
• CRA International, Inc. (U.S.)
• Zelus Consulting Group (U.S.)
• Kantar Health (U.S.)

Latest Developments in Global HEOR Service Market

• In January 2025, IQVIA, a global leader in healthcare data and analytics, announced the launch of its new real-world evidence (RWE) platform, designed to offer advanced analytics and insights on treatment effectiveness, safety, and cost-efficiency. The platform integrates large-scale healthcare datasets and utilizes AI-driven algorithms to enhance decision-making for pharmaceutical companies, payers, and healthcare providers. This solution aims to optimize value-based healthcare strategies and improve patient outcomes by providing actionable insights based on real-world clinical data
• In October 2024, Optum, a leading healthcare services company, introduced a new suite of HEOR solutions focused on payer strategies and market access. These solutions leverage real-world data, health economics models, and predictive analytics to support the development of evidence-based reimbursement strategies. The offerings aim to improve the efficiency of health systems while ensuring that patients have access to the most effective and cost-efficient treatments
• In September 2024, the National Institute for Health and Care Excellence (NICE) in the UK released new guidelines on the incorporation of health economics evaluations in public health decision-making. These guidelines are designed to improve the use of HEOR data in healthcare policy, emphasizing the need for robust economic evaluations in the approval process for new therapies. The new guidelines aim to enhance the adoption of cost-effective treatments across the UK healthcare system
• In September 2024, Covance, a global contract research organization (CRO), launched a new service to integrate clinical and economic data in its HEOR solutions. This service combines health outcomes research with economic modelling to help pharmaceutical companies navigate the complex landscape of market access and reimbursement. It aims to support manufacturers in demonstrating the value of their products to healthcare systems worldwide, enhancing product adoption and improving patient care

SKU-73523