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.
IQVIA Inc. and Syneos Health -Notable Market Players in Health Economics and Outcomes Research (HEOR) Services Market
Market leaders operating in the market have undertaken various organic growth strategies in the health economics and outcomes research (HEOR) services market. The health economics and outcomes research (HEOR) services market majorly consists of the players such Axtria, Inc., Avalon Health Economics LLC, MEDLIOR, PHARMALEX GMBH, Analysis Group, ICON PLC, IQVIA Inc., McKESSON CORPORATION, Syneos Health, and Optum, Inc. amongst others. Several organic approaches, such as product launches, and expansion in the Health Economics and Outcomes Research (HEOR) Services Market, have resulted in the positive growth of the market. Product launches help the company to strengthen its product offering and the customer base, which allows the company to hold a strong position in the market. Similarly, utilizing expansion activities, it is easy to venture into untapped economies and use the opportunities being offered.
The healthcare economics and outcomes research (HEOR) services market is expected to witness substantial growth post-pandemic. The global healthcare infrastructure observed limitations and capabilities during the sudden emergence of coronavirus. In order to deal with such situations in years to come, healthcare organizations as well as governments are expected to increase the utilization of HEOR services, which would eventually drive the market. Moreover, increase in demand for advanced data analysis technologies is anticipated to drive the market.
Below is the list of the growth strategies done by the players operating in the health economics and outcomes research (HEOR) services market:
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Year |
News |
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Dec-2019 |
PharmaLex entered into strategic partnership with Vintura. The new partnership will enable the company to consolidate its strategic consulting services for life science industry in Europe. |
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Dec-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. |
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Apr-2020 |
Axtria, Inc. announced expansion of its delivery centre in Bengaluru, India. The new centre is especially dedicated for big data analytics and development of cloud software in order to meet extensively increasing demand for healthcare analytics and information services. |
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Sep-2019 |
IQVIA Inc. joined DATA-CAN HDR, a UK based health digital data initiative. During this campaign, the company will deliver data-based solutions to improve the outcomes of cancer patients in NHS. |
