Developing a new drug involves substantial financial investment. Recent studies estimate the average out-of-pocket cost per drug at approximately $172.7 million, which can escalate to $515.8 million when accounting for failures and capital costs.
Health economics and outcomes research (HEOR) is essential in today’s competitive pharmaceutical landscape for ensuring successful drug development, reimbursement, and market access. At Turacoz, we help biopharma, MedTech, and healthcare stakeholders generate robust economic and real-world evidence to demonstrate the value of therapies to regulatory authorities, payers, healthcare providers, and patients.
By leveraging advanced data analytics, economic modeling, and real-world evidence, we provide comprehensive HEOR solutions to support strategic decision-making at every stage of the drug lifecycle—from early-phase clinical trials to post-market access and beyond.
As global healthcare systems grapple with escalating costs, intricate reimbursement processes, and stringent regulatory demands, HEOR has become pivotal in healthcare decision-making. Key challenges include:
Developing a new drug involves substantial financial investment. Recent studies estimate the average out-of-pocket cost per drug at approximately $172.7 million, which can escalate to $515.8 million when accounting for failures and capital costs.
Approximately one-third of drug launches fail to meet revenue expectations, often due to limited market access and reimbursement challenges.
Agencies such as National Institute for Health and Care Excellence (NICE), Canadian Agency for Drugs and Technologies in Health (CADTH), Institut für Qualität und Wirtschaftlichkeit im Gesundheitswesen (Institute for Quality and Efficiency in Health Care [IQWiG]), and Institute for Clinical and Economic Review (ICER) mandate comprehensive cost-effectiveness analyses and real-world evidence to support drug approval and reimbursement decisions.
The global HEOR services market is projected to grow from $1.57 billion in 2024 to $1.76 billion in 2025, representing a compound annual growth rate (CAGR) of 12.4%.
This involves assessing the economic value of therapies relative to existing treatments.
This refers to analyzing the financial implications of introducing new therapies into healthcare systems.
This includes evaluating real-world treatment benefits and improvements in patients' quality of life.
This entails providing evidence on how new treatments perform compared to current standards of care.
This involves generating real-world insights to support regulatory approvals, reimbursement, and clinical adoption. Key methodologies include:
This supports pricing and reimbursement strategies with robust health economic models, including:
This involves providing scientific evidence to support drug approvals, reimbursement applications, and clinical guidelines through the following approaches:
This involves navigating complex regulatory and reimbursement pathways using tailored HEOR solutions:
This involves delivering high-impact scientific publications and evidence-based communications tailored to diverse stakeholders:
Turacoz has a multidisciplinary team of PhDs, biostatisticians, health economists, and medical writers specializing in HEOR.
Turacoz has proven its expertise in real-world data analysis, observational studies, and economic modeling.
Turacoz operates in India, Singapore, and the Netherlands, while supporting global regulatory submissions.
Turacoz delivers end-to-end support in oncology, cardiology, neurology, infectious diseases, rare diseases, and more—driving impactful solutions across diverse therapeutic landscapes.
Turacoz is recognized for excellence and has empowered clients worldwide to achieve success with clarity and precision.
Partner with Turacoz to bring science to life through strategic and evidence-based communication.