Europe Health Economics and Outcomes Research (HEOR) Services Market
Health economics and outcomes research (HEOR) services play a significant role in drug approval and reimbursement with payers. The HEOR services allow to evaluate the economics of treatment and quantify the associated results. Likewise, in the healthcare industry, decision-makers experience the pressure to opt for therapeutic ‘interventions’ from various treatment options made available by pharmaceuticals, medical devices, and biotechnology companies. Also, there is constant pressure to control the rising healthcare cost. Therefore, HEOR services help decision-makers to adequately compare and understand the appropriate option among all the available options.
Thus, the increasing product development is expected to create a significant demand for Health economics and outcomes research (HEOR) services in the coming years, which is further anticipated to drive the health economics and outcomes research (HEOR) services market.
The disruption in non-COVID-19 trails and ongoing vaccination is expected to slow down the growth of the HEOR market. However, the trails are slowly restarting in the region, as of 9 September 2020, the NIHR Clinical Research Network has shown that non-COVID studies are restarting, with 45% of studies open to recruitment. Also, since the roll out of the vaccine, the government authorities have become engaged in the vaccination drives. As per the Our World in Data, as of 13 February 2021, around 15 million, 3.5 million, 2.7 million, 2.2 million of doses have been administered in the UK, Germany, Italy, and France respectively. Increase in the number of drugs to target the unmet medical needs of patients are the key factors increasing the demand to study the market for potential and effective pricing of the product.
Strategic insights for the Europe Health Economics and Outcomes Research (HEOR) Services provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2020 | US$ 493.2 Million |
| Market Size by 2027 | US$ 1,107.1 Million |
| Global CAGR (2020 - 2027) | 12.2% |
| Historical Data | 2018-2019 |
| Forecast period | 2021-2027 |
| Segments Covered |
By Service
|
| Regions and Countries Covered | Europe
|
| Market leaders and key company profiles |
The geographic scope of the Europe Health Economics and Outcomes Research (HEOR) Services refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The health economics and outcomes research (HEOR) services market in Europe is expected to grow from US$ 493.2 million in 2020 to US$ 1,107.1 million by 2027; it is estimated to grow at a CAGR of 12.2% from 2020 to 2027. There is an increase in number of start-ups in the developed and developing regions. For instance, countries in Europe have registered various start-ups in the past two years, and during the COVID-19 pandemic, the number has risen significantly, resulting in increasing product developments. As these players are new to the market, they require proper guidance and understanding of the market; also, they need to outsource HEOR services. To save the cost of production, various well-established companies also outsource HEOR services. The HEOR service providers help pharmaceutical, biotechnology, and medical device companies explain the value of their innovations to their respective stakeholders, such as physicians, payers, and patients. Thus, due to increasing product development, there is growth in the demand for HEOR services, which is likely to continue in the coming future.
In terms of service, the clinical outcome segment accounted for the largest share of the Europe Health economics and outcomes research (HEOR) services market in 2020. In terms of service providers, the contract research organizations segment accounted for the largest share of the Europe Health economics and outcomes research (HEOR) services market in 2020. In terms of end user, the biotech/pharma companies segment held a larger market share of the health economics and outcomes research (HEOR) services market in 2020.
A few major primary and secondary sources referred to for preparing this report on the health economics and outcomes research (HEOR) services market in Europe are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Axtria, Inc.
By Service
By Service Provider
By End User
By Country
The Europe Health Economics and Outcomes Research (HEOR) Services Market is valued at US$ 493.2 Million in 2020, it is projected to reach US$ 1,107.1 Million by 2027.
As per our report Europe Health Economics and Outcomes Research (HEOR) Services Market, the market size is valued at US$ 493.2 Million in 2020, projecting it to reach US$ 1,107.1 Million by 2027. This translates to a CAGR of approximately 12.2% during the forecast period.
The Europe Health Economics and Outcomes Research (HEOR) Services Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Health Economics and Outcomes Research (HEOR) Services Market report:
The Europe Health Economics and Outcomes Research (HEOR) Services Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Health Economics and Outcomes Research (HEOR) Services Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Health Economics and Outcomes Research (HEOR) Services Market value chain can benefit from the information contained in a comprehensive market report.
Office No. 1011, First floor, Farena Corporate Park, Magarpatta-Mundhwa road, Pune - 411028, Maharashtra, India
US:+16467917070
sales@businessmarketinsights.com
Get Free Sample For Europe Health Economics and Outcomes Research (HEOR) Services Market
