Contract Research Organizations Segment to Account for Largest Market Share by Service Provider in MEWA Health Economics and Outcomes Research (HEOR) Services Market during 2022–2030

According to our new research study on " MEWA Health Economics and Outcomes Research (HEOR) Services Market Forecast to 2030 –Regional Analysis – by Service, Service Provider, End-user," the health economics & outcomes research services market size is expected to grow from US$ 57.90 million in 2030 from US$ 34.47 million in 2022; it is estimated to register a CAGR of 6.7 % from 2022 to 2030. The report highlights the key factors driving the health economics & outcomes research services market growth and prominent players with their developments in the market.

Based on service provider, the health economics & outcomes research services market is bifurcated into contract research organizations, and consultancy. The contract research organizations segment held the largest market share in 2022 and the same segment is anticipated to register the highest CAGR during the forecast period (2022–2030). Contract research organizations offer support to biopharmaceutical, medical device, pharmaceutical, and biotechnology companies in terms of research services on a contract basis. Apart from services such as assay development, clinical research, and pharmacovigilance studies, a few companies also provide HEOR services to clients. In November 2022, IQVIA and Clalit Health Services partnered to advance research by launching the first Prime Site in Israel. The collaboration combines IQVIA and Clalit's clinical trial delivery, data, genomics, and real-world research capabilities. With this combined expertise, the collaboration focuses on the future of innovation, including precision medicine and the delivery of data-driven trials. Core healthcare organizations contract with CROs to acquire the expertise to safely and efficiently carry out trials without hiring permanent staff. Benefits such as cost & time optimization and lower investments are estimated to impact the contract research organization segment growth positively.

PharmaLex GmbH, ICON Plc; IQVIA Holdings Inc; Syneos Health Inc, Optum Inc ; Value In Research ExlService Holdings, Inc; Clarivate Plc; CCHO; are among the key companies operating in the health economics & outcomes research services market.

Source: Business Market Insights Analysis

Companies operating in the health economics & outcomes research services market adopt various organic and inorganic strategies. Organic strategies mainly include product launches and product approvals. Acquisitions, collaborations, and partnerships are among the inorganic growth strategies witnessed in the health economics & outcomes research services market. These growth strategies allow the market players to expand their businesses and enhance their geographic presence, thereby contributing to the overall health economics & outcomes research services market growth. Further, acquisition and partnership strategies help them strengthen their customer base and expand their product portfolios.

A few of the significant developments by key health economics & outcomes research services market players are listed below.

• In Sep 2021, SM Health and Optum announced an collaboration focused on offering quality care more affordable and accessible for people across the Midwest. SSM Health and Optum partnered across certain functions – including inpatient care management, digital transformation, and revenue cycle management – to enhance health outcomes and patients’ healthcare experiences.
• In March 2023, IQVIA partnered with (RED), to fight AIDS and the injustices that enable pandemics to thrive, to support laboratory system strengthening, and to save lives. This $5 million impact partnership will channel life-saving money to the Global Fund’s Laboratory Systems Integration Fund.

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