Global Market Insights Inc. states that the Health Economics and Outcomes Research Services market will surpass $3.5 billion by 2032.

Global Market Insights Inc.

The HEOR services industry is projected to register a CAGR of 14% between 2023 and 2032 due to increasing R&D expenditure across the globe.

SELBYVILLE, Delaware, Jan. 24, 2023 (GLOBE Newswire) —

Health Economics and Outcomes Research Services market value It is estimated to cross USD 3.5 billion by 2032, according to a recently announced research report by Global Market Insights Inc.

Increasing number of clinical trials and growth in outsourcing of R&D projects as key drivers of HEOR Services industry. In particular, HEOR is at the forefront of R&D innovation, driving progress for services. Due to the growing need of new drugs to cure various diseases, it is encouraging businesses to invest heavily in R&D work.

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Adoption of electronic medical records to drive demand for real-world data analytics

The real-world data analysis and information systems segment is expected to be valued at over USD 154 million in 2022. The expansion is attributed to a significant emphasis on real-world data (RWD), which is often used to draw insights, predictions and exploratory findings about products. diseases, and patient populations. Technological advances and the adoption of electronic medical records have resulted in real-world data being readily available and effective for research and regulatory purposes.

Browse key industry insights spread across 151 pages of the report with 159 market data tables and 12 figures and charts, “Health Economics and Outcomes Research Services Market Size By Service (Economic Modeling/Valuation, Real-world Data Analysis and Information Systems, Clinical Outcomes, Market Access Solutions and Reimbursement), By Service Provider (Consulting, Contract Research Organisations), By End By- Use (Healthcare Providers, Healthcare Payers, Biotech/Pharma Companies, Government Organizations), COVID-19 Impact Analysis, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share and Forecast, 2023 – 2032″ Detail with table of contents,

https://www.gminsights.com/industry-analysis/health- economics-and-outcomes-research-heor-services-market

Outsourcing of data analytics services is being emphasized by the businesses to increase the profit of CRO segment

Health economics and outcomes research services market revenue from CRO segment to exceed USD 688 million in 2022. Contract Research Organization (CRO) service providers are flourishing because of their focus on secure services. Regulatory approvals and secure services such as clinical and preclinical trials are expected to drive the expansion of HEOR services. In addition, pharmaceutical and biotech companies are also outsourcing research efforts in order to focus on core business operations, excel in the competitive system, and adapt to emerging technology.

Increase in health care expenditure to increase use of HEOR services by government organizations

The market size of health economics and outcomes research services from government organizations is expected to exhibit a CAGR of over 11.5% by 2032. The substantial need for HEOR services is being driven by the rapid growth in access to sophisticated healthcare services and rising healthcare expenditures. These services aid in the efficient planning and distribution of available health care resources. Thus, the ongoing efforts of these government organizations to deliver the best health outcomes at reasonable cost are increasing the interest of consumers in HEOR services.

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Rising Progress of New Drugs to Boost HEOR Services Industry in LATAM Region

Latin America health economics and outcomes research services market is estimated to represent over 14.5% CAGR by 2032. The region is set to become a primary focus for the HEOR services industry due to the growing awareness of health economics and outcome research services. Furthermore, several initiatives taken by pharma and biotech companies in the LATAM region to develop and launch new drugs are further driving the revenue of the regional market and accelerating the overall demand for HEOR services.

Introduction of new service features to remain a key growth strategy

The health economics and outcomes research services market players that are included in the report include McKesson Corporation, Actrea, Cardinal Health, Avalon Health Economics, Medlior, IQVIA, Pharmalex GmbH, and more.

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About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, US, is a global market research and consulting services provider, offering growth consulting services as well as syndicated and custom research reports. Our business intelligence and industry research reports provide clients with insightful insights and actionable market data that are specially designed and presented to aid strategic decision making. These comprehensive reports are designed through a proprietary research methodology and are available for major industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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