According to a new report published by Allied Market Research, titled, ” Health Economics & Outcomes Research (HEOR) Services Market: Global Opportunity Analysis and Industry Forecast, 2020-2027″. The global market size of Health Economics & Outcomes Research (HEOR) Services is $XX million in 2019 with XX CAGR, and it is expected to reach $XX million by the end of 2027 with a CAGR of XX% from 2020 to 2027.
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Some companies profiled in this report are Axtria, McKesson Corporation, Optum, Pharmaceutical Product Development, ICON, Cardinal Health, RTI Health Solutions and Syneos Health IQVIA, United Health Group.
.COVID – 19 scenario analysis:
- Economies across the globe are struggling amidst COVID – 19 pandemic, as the governments have imposed travel restrictions and lockdowns
- Many of the industrial sectors are struggling as they’re closed
- However, Health Economics & Outcomes Research (HEOR) can be of a great help in times like COVID – 19
- Pharmaceutical and biotech majors, across the globe are investing, pouring funds for R&D activities and are engaged in search for innovating a vaccine or a therapeutic treatment in order to prevent, resist or cure the people suffering from novel coronavirus
- HEOR can play a big role in this scenario, as it can help the pharmaceutical and biologics firms to evaluate their spending on the upcoming product or treatment
- It would also play a lead role in helping the government officials is decision making related to which treatment to go for, considering effectiveness and affordability the prime factors
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Burdened by limited resources, the decision makers face the dilemma of balancing the healthcare needs of a few patients with the healthcare needs of the larger society. At a higher level, a similar dilemma is faced by a hospital, government or pharma company, when an introduction of a new drug. The doctors, government is interested in knowing significance of the drug to the patient also considering affordability. HEOR comes into picture here and helps the decision makers optimize the resources in health and make a better decision. Factors like increasing prevalence of chronic diseases, growing burden on the healthcare, pharma and biotech industries are heavily funding R&D activities for development of new drugs, therapeutic procedures and clinical trials for the better health, increasing spending on drugs on payer’s healthcare budget are major hurdle in several regions. Henceforth, focus of health economics and outcomes research service providers on providing optimal health outcomes for patients from an affordable perspective will increase its demand over the period of time, thereby facilitating the overall industry growth. However, lack of trained professionals in developing and underdeveloped countries to carry on such type of research is the major factor limiting the health economics and outcomes research (HOER) services market growth.
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Key benefits of the report:
- This study presents the analytical depiction of the global health economics and outcomes research (HOER) services industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global health economics and outcomes research (HOER) services market share.
- The current market is quantitatively analysed from 2020 to 2027 to highlight the global health economics and outcomes research (HOER) services market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the health economics and outcomes research (HOER) services market.
- The report provides a detailed global health economics and outcomes research (HOER) services market analysis based on competitive intensity and how the competition will take shape in coming years.