The health economics and outcome research services market size is projected to reach US$ 3,797.86 million by 2031 from US$ 1,682.92 million in 2024. The market is expected to register a CAGR of 12.3% during 2024–2031. This rapid growth highlights the rising demand for comprehensive economic evaluations, real-world data analytics, and outcomes research solutions that inform clinical, regulatory, and pricing decisions in an increasingly complex healthcare environment.
One of the key drivers of the HEOR services market is the growing focus on value-based healthcare models. Healthcare systems across the world are shifting away from traditional fee-for-service reimbursement and toward value-oriented frameworks in which payment is tied to patient outcomes and cost efficiency. In this context, HEOR evidence becomes vital for demonstrating the long-term clinical and economic value of new therapies and medical technologies, helping stakeholders justify reimbursement decisions while ensuring better outcomes for patients.
Another major trend shaping the HEOR market is the increasing integration of real-world evidence (RWE) and advanced analytics. Real-world data (RWD), drawn from electronic health records, claims databases, and patient registries, offers insights into how treatments perform outside controlled clinical trials. Combined with sophisticated economic modeling and information systems, RWD enables comprehensive cost-effectiveness analyses, budget impact models, and comparative outcomes research that support regulatory submissions, payer negotiations, and health technology assessments globally.
Pharmaceutical and biotechnology companies are among the largest users of HEOR services, leveraging these insights to strengthen product value propositions and secure reimbursement approvals in diverse markets. Healthcare providers and payers also increasingly rely on HEOR studies to guide formulary decisions, optimise therapeutic protocols, and assess the long-term impact of treatment strategies. Contract research organisations (CROs) and specialised consultancies are essential service providers, offering tailored HEOR solutions that span economic evaluation, clinical outcomes research, and market access strategy development.
Technological advancements are further propelling market growth. Artificial intelligence (AI), machine learning, and predictive analytics are enhancing HEOR capabilities by automating data integration, improving model precision, and reducing research cycles. These tools help organisations generate more reliable evidence faster, enabling quicker decision-making and stronger policy support. As digital health adoption accelerates and data ecosystems expand, HEOR services will continue to play a central role in translating clinical data into actionable economic insights.
Regionally, North America remains a dominant market due to its advanced healthcare infrastructure, robust regulatory frameworks, and extensive investment in pharmaceutical R&D. However, Asia-Pacific is emerging as a high-growth region, driven by expanding healthcare access, increasing clinical research activity, and the growing adoption of economic evaluations in health policy decisions. As markets mature and HTA requirements become more stringent globally, demand for HEOR expertise is expected to rise across both developed and emerging economies.
In conclusion, the HEOR services market is set for robust growth through 2031 as healthcare stakeholders prioritise evidence-based value demonstration, real-world outcomes measurement, and economic assessments. With technological innovation and broader global adoption of value-based care models, HEOR will remain an essential component of strategic healthcare planning and decision-making in the years ahead.
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Europe Health Economics and Outcome Research (HEOR) Services Market Analysis and Forecast by Size, Share, Growth, Trends 2031
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