South and Central America Health Economics and Outcomes Research (HEOR) Services Market
No. of Pages: 114 | Report Code: TIPRE00024236 | Category: Life Sciences
No. of Pages: 114 | Report Code: TIPRE00024236 | Category: Life Sciences
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 COVID‐ 19 pandemic is a critical test for the already overburdened and underfunded public healthcare systems of South and Central America. It suffers from severe inequalities. State-run hospitals and clinics are already overstressed by the treatment of vector‐borne diseases and community‐acquired infections and high rates of non‐communicable diseases (NCDs). Also, the prevention and treatment of NCDs have been critically affected since the onset of the COVID-19 in the region, as per the Pan American Health Organization (PAHO). Before COVID-19, approximately 81% of all deaths in the region were due to NCDs. An estimated 62 million people live with diabetes, and 1.2 million live with cancer in South and Central America. Moreover, in South and Central America, the Gross Domestic Product (GDP) and central government healthcare expenditure are significantly lower than in developed countries. In 2018, as per the United Nations, Economic Commission for Latin America (CEPAL), 16 South American countries invested less than 4% of their GDP to healthcare. The consequences of a lack of investment in public healthcare systems are reflecting during the pandemic. The COVID‐19 pandemic is exacerbating these inequalities by threatening the infrastructure and capacity of state‐owned healthcare systems. Thus, the factors mentioned above are negatively impacting the growth of the market in the region.
Strategic insights for the South and Central America 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$ 49.2 Million |
| Market Size by 2027 | US$ 89.1 Million |
| Global CAGR (2020 - 2027) | 8.8% |
| Historical Data | 2018-2019 |
| Forecast period | 2021-2027 |
| Segments Covered |
By Service
|
| Regions and Countries Covered | South and Central America
|
| Market leaders and key company profiles |
The geographic scope of the South and Central America 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 South and Central America is expected to grow from US$ 49.2 million in 2020 to US$ 89.1 million by 2027; it is estimated to grow at a CAGR of 8.8% from 2020 to 2027. The HEOR plays a vital role in providing comparative evidence for choosing products and services. Selecting the appropriate product or service would assist in improving patients' health outcomes with justified healthcare spending. It provides the most valued insights that lead to reduced waste of products, services, and money. Such evidence is essential to identify the best deployment policies for healthcare budgets that would benefit patients. The HEOR services would also help healthcare service providers to pay attention to uncertain spending on unnecessary surgeries and clinical procedures. The consultation by HEOR is likely to encourage the use of generic drugs, increase focus on updating nursing skills of nurses to manage chronic conditions of patients, and ensure no hospital stays for patients who do not require hospital care and can be treated with fewer resources as primary care. Thus, growing healthcare expenditure is likely to influence the HEOR service market's growth during the forecast period.
In terms of service, the clinical outcome segment accounted for the largest share of the South and Central America 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 South and Central America 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 South and Central America 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 South and Central America Health Economics and Outcomes Research (HEOR) Services Market is valued at US$ 49.2 Million in 2020, it is projected to reach US$ 89.1 Million by 2027.
As per our report South and Central America Health Economics and Outcomes Research (HEOR) Services Market, the market size is valued at US$ 49.2 Million in 2020, projecting it to reach US$ 89.1 Million by 2027. This translates to a CAGR of approximately 8.8% during the forecast period.
The South and Central America 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 South and Central America Health Economics and Outcomes Research (HEOR) Services Market report:
The South and Central America 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 South and Central America Health Economics and Outcomes Research (HEOR) Services Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South and Central America Health Economics and Outcomes Research (HEOR) Services Market value chain can benefit from the information contained in a comprehensive market report.
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