HEOR services industry is anticipated to register 14% CAGR between 2023 and 2032 owing to increasing R&D expenditure worldwide.
Selbyville, Delaware, Jan. 24, 2023 (GLOBE NEWSWIRE) —
Health economics & outcomes research services
Increasing emphasis of businesses to outsource data analytics services to push CRO segment gains
Health economics & outcomes research services market revenue from the CRO segment was more than USD 688 million in 2022. Contract research organizations (CRO) service providers are thriving owing to the shifting focus to secured services. Regulatory clearances and secured services like clinical and preclinical testing are expected to promote the expansion of HEOR services. Moreover, to concentrate on core business operations, excel in the competitive system, and be adaptable in the face of emerging technology, pharmaceutical & biotech companies are also outsourcing research efforts.
Booming healthcare expenditure to augment the use of HEOR services by government organizations
Health economics & outcomes research services market size from government organizations is foreseen to exhibit more than 11.5% CAGR by 2032. The substantial need for HEOR services is being driven by booming development for sophisticated healthcare services and rising healthcare expenditure. These services aid in the efficient planning and distribution of available healthcare resources. Thus, ongoing efforts of these government organizations to deliver the best health results at reasonable costs are boosting consumer interest in HEOR services.
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Growing progression for novel drugs to promote HEOR services industry in LATAM region
Latin America health economics & outcomes research services market is projected to depict over 14.5% CAGR by 2032. The region is set to become a primary hub for the HEOR services industry owing to rising awareness regarding health economics and outcomes research services. Moreover, several initiatives taken by pharma & biotech companies in the LATAM region to develop and launch new drugs are further pushing the regional market revenue and accelerating the overall demand for HEOR services.
Introduction of new service features to remain a key growth strategy
Health economics & outcomes research services market players profiled in the report include McKesson Corporation, Axtria, Cardinal Health, Avalon Health Economics, MEDLIOR, IQVIA, PharmaLex GmbH, and more.
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