South and Central America Health Economics and Outcomes Research (HEOR) Services Market

Market Introduction

Health economics and outcomes research (HEOR) services play a significant role in drug approval and reimbursement with payers. The HEOR services allow to evaluate the economics of treatment and quantify the associated results. Likewise, in the healthcare industry, decision-makers experience the pressure to opt for therapeutic ‘interventions’ from various treatment options made available by pharmaceuticals, medical devices, and biotechnology companies. Also, there is constant pressure to control the rising healthcare cost. Therefore, HEOR services help decision-makers to adequately compare and understand the appropriate option among all the available options.

Thus, the increasing product development is expected to create a significant demand for Health economics and outcomes research (HEOR) services in the coming years, which is further anticipated to drive the health economics and outcomes research (HEOR) services market.

The COVID‐ 19 pandemic is a critical test for the already overburdened and underfunded public healthcare systems of South and Central America. It suffers from severe inequalities. State-run hospitals and clinics are already overstressed by the treatment of vector‐borne diseases and community‐acquired infections and high rates of non‐communicable diseases (NCDs). Also, the prevention and treatment of NCDs have been critically affected since the onset of the COVID-19 in the region, as per the Pan American Health Organization (PAHO). Before COVID-19, approximately 81% of all deaths in the region were due to NCDs. An estimated 62 million people live with diabetes, and 1.2 million live with cancer in South and Central America. Moreover, in South and Central America, the Gross Domestic Product (GDP) and central government healthcare expenditure are significantly lower than in developed countries. In 2018, as per the United Nations, Economic Commission for Latin America (CEPAL), 16 South American countries invested less than 4% of their GDP to healthcare. The consequences of a lack of investment in public healthcare systems are reflecting during the pandemic. The COVID‐19 pandemic is exacerbating these inequalities by threatening the infrastructure and capacity of state‐owned healthcare systems. Thus, the factors mentioned above are negatively impacting the growth of the market in the region.

Market Overview and Dynamics

The health economics and outcomes research (HEOR) services market in South and Central America is expected to grow from US$ 49.2 million in 2020 to US$ 89.1 million by 2027; it is estimated to grow at a CAGR of 8.8% from 2020 to 2027. The HEOR plays a vital role in providing comparative evidence for choosing products and services. Selecting the appropriate product or service would assist in improving patients' health outcomes with justified healthcare spending. It provides the most valued insights that lead to reduced waste of products, services, and money. Such evidence is essential to identify the best deployment policies for healthcare budgets that would benefit patients. The HEOR services would also help healthcare service providers to pay attention to uncertain spending on unnecessary surgeries and clinical procedures. The consultation by HEOR is likely to encourage the use of generic drugs, increase focus on updating nursing skills of nurses to manage chronic conditions of patients, and ensure no hospital stays for patients who do not require hospital care and can be treated with fewer resources as primary care. Thus, growing healthcare expenditure is likely to influence the HEOR service market's growth during the forecast period.

Key Market Segments

In terms of service, the clinical outcome segment accounted for the largest share of the South and Central America Health economics and outcomes research (HEOR) services market in 2020. In terms of service providers, the contract research organizations segment accounted for the largest share of the South and Central America Health economics and outcomes research (HEOR) services market in 2020. In terms of end user, the biotech/pharma companies segment held a larger market share of the health economics and outcomes research (HEOR) services market in 2020.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the health economics and outcomes research (HEOR) services market in South and Central America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Axtria, Inc., Avalon Health Economics LLC, PHARMALEX GMBH, ICON PLC, IQVIA Inc., McKESSON CORPORATION, and Syneos Health.

Reasons to buy report

• To understand the South and Central America Health economics and outcomes research (HEOR) services market landscape and identify market segments that are most likely to guarantee a strong return
• Stay ahead of the race by comprehending the ever-changing competitive landscape for South and Central America Health economics and outcomes research (HEOR) services market
• Efficiently plan M&A and partnership deals in South and Central America Health economics and outcomes research (HEOR) services market by identifying market segments with the most promising probable sales
• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form South and Central America Health economics and outcomes research (HEOR) services market
• Obtain market revenue forecast for market by various segments from 2021-2028 in South and Central America region.

SOUTH AND CENTRAL AMERICA HEALTH ECONOMICS AND OUTCOMES RESEARCH (HEOR) SERVICES MARKET SEGMENTATION

By Service

• Economic Modelling/Evaluation
• Real-world Data Analysis and Information Systems
• Clinical Outcome
• Market Access Solutions and Reimbursement

By Service Provider

• Consultancy
• Contract Research Organizations

By End User

• Healthcare Providers
• Healthcare Payers
• Biotech/Pharma Companies
• Government Organizations

By Country

• South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America

Companies Mentioned

1. Axtria, Inc.
2. Avalon Health Economics LLC
3. PHARMALEX GMBH
4. ICON PLC
5. IQVIA Inc.
6. McKESSON CORPORATION
7. Syneos Health

South and Central America Health Economics and Outcomes Research (HEOR) Services Market Strategic Insights

South and Central America Health Economics and Outcomes Research (HEOR) Services Market Segmentation Analysis

South and Central America Health Economics and Outcomes Research (HEOR) Services Market Report Highlights

South and Central America Health Economics and Outcomes Research (HEOR) Services Report Scope

South and Central America Health Economics and Outcomes Research (HEOR) Services Market Country and Regional Insights