In essence, a cost-effectiveness analysis communicates the value of one technology compared to another, usually the "gold standard".
This is valuable in securing access to markets where value for money is an important purchasing consideration. Demonstration of cost-effectiveness is increasingly required for reimbursement listing, however it can also be informative at earlier stages such as Phase I/II development where the projection of initial findings can be used to decide whether launching into costly phase III trials is justifiable.