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Europe Health Economics and Outcomes Research Services Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Service ; Service Provider ; End User

Europe Health Economics and Outcomes Research Services Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Service ; Service Provider ; End User

  • August 2021
  • 133 pages
  • ID: 6134288
  • Format: PDF
  • The Insight Partners


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The health economics and outcomes research (HEOR) services market in Europe is projected to reach US$ 1,107.1 million by 2027 from US$ 493.2 million in 2020; it is estimated to grow at a CAGR of 12.2% from 2020 to 2027. The healthcare sector has significantly evolved since the integration of information technology, artificial intelligence, and digital technologies. Digitalization has touched virtually every segment in the in the healthcare sector. Healthcare digitalization has attracted several technology giants such as Apple, Inc.; Amazon.com, Inc.; Alphabet Inc.; and Microsoft Corporation to enter the healthcare market. For instance, Google, an Alphabet Inc. venture, is dedicatedly involved in life sciences. These companies utilize their technological capabilities to provide various wearable devices, digital apps, diagnostics technologies, and therapies that keep track of people’s health and fitness conditions across the world. Electronic medical records, telemedicine, and Big Data are a few of the significant results of healthcare digitalization. Microsoft Corporation has entered into the artificial intelligence space, and it is exploring the possibilities of transforming healthcare, genomics, telehealth, cloud computing, and cybersecurity for the healthcare sector. On the other hand, continuous developments by core healthcare companies have also been contributing to the growth of the HEOR services market in North America. The HEOR service would further help healthcare providers to improve their service outcomes in cost-effective ways.

The Europe health economics and outcomes research (HEOR) services market is segmented on the bases of service, service provider, and end user.Based on service, the clinical outcome segment held the largest share of the market in 2019, whereas the market for real-world data analysis and information systems segment is expected to grow at the fastest CAGR during the forecast period.

The projected growth of the segment can be attributed to increasing awareness regarding real-world data analysis and information systems.

The disruptions in trials and studies other than those related to COVID-19 and ongoing vaccination drives are slowing down the growth of the HEOR market.However, as of 9 September 2020, the NIHR Clinical Research Network has shown that non-COVID studies are restarting, with 45% of studies open for recruitment.

Since the roll out of the COVID-19 vaccine, the government authorities are engaged in conducting mass vaccination drives. As per the Our World in Data, as of 13 February 2021, ~15 million, ~3.5 million, ~2.7 million, ~2.2 million vaccine doses have been administered in the UK, Germany, Italy, and France, respectively. Increase in the number of drugs to target the unmet medical needs of patients is a key factor boosting the need to conduct studies for potential and effective pricing of the product.

The overall Europe Health economics and outcomes research (HEOR) services market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

The process also serves the purpose of obtaining overview and forecast for the Europe Health economics and outcomes research (HEOR) services market with respects to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.

The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Europe Health economics and outcomes research (HEOR) services market. Axtria, Inc., Avalon Health Economics LLC, PHARMALEX GMBH, Analysis Group, ICON PLC, IQVIA Inc., McKESSON CORPORATION, and Syneos Health are among a few players operating in the Europe Health economics and outcomes research (HEOR) services market.

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