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.
In today’s competitive pharmaceutical landscape, Health Economics and Outcomes Research (HEOR) is essential for ensuring successful drug development, reimbursement, and market access. At Turacoz, we help biopharma, med-tech, 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 (RWE), 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 NICE, CADTH, IQWiG, and ICER mandate comprehensive cost-effectiveness and real-world data for 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, at a compound annual growth rate (CAGR) of 12.4%.
Assessing the economic value of therapies relative to existing treatments.
Analyzing the financial implications of introducing new therapies into healthcare systems.
Evaluating real-world treatment benefits and improvements in quality of life.
Providing evidence on how new treatments perform against current standards of care.
Generating real-world insights to support regulatory approvals, reimbursement, and clinical adoption:
Supporting pricing and reimbursement strategies with robust health economic models:
Providing scientific evidence for drug approvals, reimbursement applications, and clinical guidelines:
Navigating complex regulatory and reimbursement pathways with tailored HEOR solutions:
Delivering high-impact scientific publications and evidence-based communications:
A team of PhDs, biostatisticians, health economists, and medical writers specializing in HEOR.
Proven expertise in real-world data analysis, observational studies, and economic modeling.
Operating in India, Singapore, the Netherlands, and supporting global regulatory submissions.
Partner with Turacoz to bring science to life through strategic and evidence-based communication.