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

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

  • August 2021
  • 119 pages
  • ID: 6134335
  • Format: PDF
  • The Insight Partners

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The health economics and outcomes research (HEOR) services market in the Middle East and Africa is expected to reach US$ 37.8 million by 2027 from US$ 26.8 million in 2020; it is estimated to grow at a CAGR of 5.0% from 2020 to 2027. Precision medicine is an emerging segment in the healthcare sector. Despite huge R&D efforts in many countries across the world, there is a lack of evidence, thresholds, and reimbursement policies. Various researchers, payers, healthcare service providers, and medical companies are working toward applying their insights of personalized or precision medicines in early drug development and their consequences for health technology assessment. Considering the abovementioned factors, there are broader growth opportunities for HEOR service providers to enhance their services for strategy and consulting, real-world evidence, modelling and microsimulation, and evidence synthesis applications associated with precision medicine. In addition, the HEOR guidelines and frameworks can further clarify the outcomes caused by regulatory and reimbursement policies for the precision medicine applications, along with and their impacts. Moreover, they are expected to guide research investments to enhance the appropriate use of precision medicine. The HEOR market is expected to have vital growth opportunities in the Middle East and Africa region. Healthcare players in this region are explicitly putting efforts for incorporating precision medicine in hospital settings as soon as possible.

The market for Middle East and Africa Health economics and outcomes research (HEOR) services market is segmented into service, service provider, and end user.Based on the service, in 2019, the clinical outcome segment held the largest share of the market whereas the real-world data analysis and information systems segment is expected to dominate the market share with the fastest CAGR during the forecast period.

The growth of market is estimated to be driven by extensively increasing awareness of real-world data analysis and information systems. In addition, the companies are also engaged in the implementation of various strategies to prove their existence in the markets, which is generating a significant market potential.

Economic uncertainties and ongoing conflicts are worsening the conditions in the Middle East and Africa.Countries such as Syria, Libya, and Yemen are not in position to implement any public health measures as they are suffering violent conflict.

Iran was in deep economic recession due to the US sanctions.Oil production and export is a major source of economic stabilization in Middle East.

However, the COVID-19 pandemic is causing turbulence in the countries in this region.A sudden drop in domestic and external demand for crude oil and other goods and products, and halted production due to labor shortage are major difficulties faced by countries in this region.

Despite the temporary solutions to these impacts, the region is likely to witness medium- and long-term consequences in the coming years. With many laboratory and research services under acute pressure, the market for HEOR services is expected to grow at a steady rate in the region.

The overall Middle East and Africa 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 Middle East and Africa 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 Middle East and Africa Health economics and outcomes research (HEOR) services market. Axtria, Inc., Avalon Health Economics LLC, PHARMALEX GMBH, ICON PLC, IQVIA Inc., McKESSON CORPORATION, and Syneos Health are among a few players operating in the Middle East and Africa Health economics and outcomes research (HEOR) services market.

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