Procurement Resource’s New Health Economics and Outcomes Research (HEOR) Service Industry Intelligence Report (2022) -Analyses the Key Sourcing Strategies, Demand Indicators, Price Drivers, and Supplier Assessment

Category Driver

Due to the high level of outsourcing, the HEOR market is developing at a reasonable rate. The market is consolidating, with newer private equity and data analytics firms entering the HEOR space. Regulations requiring more real-world evidence and outcome data are also causing disruptive developments such as big data analytics, m-health, bioinformatics, and other patient intelligence technologies to enter the market. Because the work is critical, companies are hesitant to offshore to emerging economies. The market business strategy focuses on providing the best quality scientific research in the quickest timeframe and at the most reasonable cost through expert and highly trained employees and verifiable processes.

Industry Developments in terms of Technology/Innovation/R&D/Sustainability

CROs, consultants, and data analytics firms add HEOR to their portfolios to deliver end-to-end clinical development services and win more business from pharmaceutical corporations. Several pharma companies are working directly with data analytics firms for predictive analytics and big data solutions. According to a study, developing a new health data network fails two-thirds of the time due to a lack of researchers and technological support. Sustainable planning is required to achieve nationalized data insights and improve healthcare.

Key Findings of the Report:

• Regulatory reforms are causing disruptive innovations such as big data analytics, m-health, bioinformatics, and other patient intelligence technologies to enter the market, requiring more real-world evidence and outcome data. 
• To deliver integrated services, large CROs have been steadily extending their supplier base through acquisitions and partnerships.
• the APAC region will see moderate demand due to shifting in clinical trials to these regions, availability of patient pool, lower FTE rate, and rapid technology integration by suppliers.
• Due to the crucial nature of the task, companies are hesitant to offshore it to emerging economies. The market business model focuses on providing the best quality scientific research in the quickest timeframe and at the most reasonable cost through expert and highly trained employees and verifiable processes.
• Mandatory HTA submission requirements and the expanding effect of real-world evidence in P&R drive the HEOR business. 
• Outsourcing will grow, and pharma companies will be less likely to hire new employees or venture into non-core areas like m-health. 
• The primary development in this industry has been the introduction of big data analytics, m-health, and other patient analytics tools. Early use of HEOR in clinical trials is still in its infancy, and P&R is the primary issue for pharmaceutical corporations. 
• The majority of HEOR is outsourced to global players (consultants or CROs), who then hire specialized players as needed. Fee-for-service and T&M are the most common price words in this category.
• Key suppliers in the report include IQVIA, Medpace, Convance, Syneos Health, McKesson Corporation.

Why Choose Procurement Resource?

• The HEOR industry report includes preferred sourcing strategies by key suppliers present in the category
• The report provides an overview of the value chain along with recent technologies being positioned
• The information regarding price movement, price hedging, billing rates, and demand-supply is also included in the report
• The HEOR industry report further offers category-specific regional trends and market dynamics
• The report also covers supplier profiles, including financial data, product portfolio, and recent category-based initiatives 
• It provides extensive data pertaining to the demand, supply, cost, and billing of HEOR, along with an in-depth analysis of key indicators of category demand and pricing
• The HEOR industry report provides category-based buyer and supplier negotiation levers and sourcing and procurement practices
• The report extensively assesses the demand influencing and restricting factors on a regional and global level

About Us:

Procurement Resource ensures that our clients remain at the vanguard of their industries by providing actionable procurement intelligence with the help of our expert analysts, researchers, and domain experts. Our team of highly seasoned analysts undertakes extensive research to provide our customers with the latest and up-to-date sourcing and industry reports, cost models, price analysis, benchmarking, and category insights, which aid in simplifying the procurement process for our clientele. We work with a diverse range of procurement teams across industries to get real-time data and insights that our customers can effectively implement. We also track the prices and production costs of an extensive range of goods, services, and commodities, thus, providing our clients with updated and reliable data. We, at Procurement Resource, with the help of the latest and cutting-edge methodologies in the industry, help our clients understand the supply chain, procurement, and industry climate to form strategies that ensure their optimum growth.

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