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

Clinical Outcome Segment has the Largest Share of Service in the Europe Health Economics and Outcomes Research (HEOR) Services Market during 2020-2027

According to a new market research study on “Europe Health Economics and Outcomes Research (HEOR) Services Market to 2027 - COVID-19 Impact and Regional Analysis and Forecast by Service, Service Provider, and End-user” is expected to reach US$ 1,107.1 million by 2027 from US$ 493.2 million in 2020. The market is estimated to grow at a CAGR of 12.2% from 2020 to 2027. The report provides trends prevailing in the Europe Health economics and outcomes research (HEOR) services market along with the drivers and restraints pertaining to the market growth. The growth of this market is estimated to grow owing to key driving factors such as the increasing product development and growing healthcare spending. However, the market is expected experiencing slow growth during the forecast period owing to the restrictions on access to real-world data (RWD).

The disruption in non-COVID-19 trails and ongoing vaccination is expected to slow down the growth of the HEOR market. However, the trails are slowly restarting in the region, as of 9 September 2020, the NIHR Clinical Research Network has shown that non-COVID studies are restarting, with 45% of studies open to recruitment. Also, since the roll out of the vaccine, the government authorities have become engaged in the vaccination drives. As per the Our World in Data, as of 13 February 2021, around 15 million, 3.5 million, 2.7 million, 2.2 million of 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 are the key factors increasing the demand to study the market for potential and effective pricing of the product.

The market for Europe 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.

Axtria, Inc. Avalon Health Economics LLC, PHARMALEX GMBH, Analysis Group, ICON PLC, IQVIA Inc. McKESSON CORPORATION, and Syneos Health are among the leading companies in the Europe Health economics and outcomes research (HEOR) services market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in December 2020, Syneos Health announced strategic collaboration with ConcertAI, one of the considerable players in real world evidence technology. The partnership is planning to implement novel oncology clinical trial research solutions with the help of artificial intelligence technologies.

The market for Health economics and outcomes research (HEOR) services market is segmented into service, service provider, and End-user. Based on Service (Economic Modelling/Evaluation, Real-world Data Analysis and Information Systems, Clinical Outcome, and Market Access Solutions and Reimbursement). Based on Service Provider (Consultancy, and Contract Research Organizations). Based on End-user (Healthcare Providers, Healthcare Payers, Biotech/Pharma Companies, and Government Organizations). Geographically, the Health economics and outcomes research (HEOR) services market is segmented into Europe (France, Germany, Italy, UK, Spain, and Rest of Europe)

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