UK Virtual Clinical Trials Market Report 2022 to 2030

UK Virtual Clinical Trials Market Analysis

$ 3999

This report presents a strategic analysis of the UK Virtual Clinical Trials Market and a forecast for its development in the medium and long term. It provides a broad overview of the market dynamics, trends and insights, growth drivers and restraints, segmentation, competitive landscape, healthcare policies and regulatory framework, reimbursement scenario, challenges and future outlook. This is one of the most comprehensive reports about the UK Virtual Clinical Trials Market, offering unmatched value, accuracy and expert insights.

ID: IN10GBCT007 CATEGORY: Clinical Trials GEOGRAPHY: UK

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UK Virtual Clinical Trials Market Executive Summary

In 2020, total healthcare spending in the United Kingdom was £257.6 billion, or £3,840 per person. In nominal terms, healthcare spending increased by 15.7 percent in 2020, or 10.0 percent in real terms after inflation; this was the greatest growth rate since the series began in 1997.

In 2020, the total current healthcare expenditure in the United Kingdom was 12.0% of the GDP, up from 9.9% in 2019. Preventive care spending reached £15.7 billion in 2020, up 40.8 percent in real terms, owing partly to increased government spending during the coronavirus (COVID-19) pandemic. The market size, measured by revenue, of the Pharmaceutical Wholesaling industry, is £64.9bn in 2022.

Clinical trials are a method of doing clinical research that is guided by a detailed protocol that has been carefully created to address a specific patient care question. Clinical trials can be broken down into five phases, each of which serves a particular function. Every trial follows a protocol that specifies the kinds of people who are allowed to take part in the study. In addition to stating the duration of the study, the studies also detail the precise plan of operations, tests, drugs, and doses inside the experiment. The rising expenses of drug development in recent years have forced pharma and biotech companies to explore modernizations and more efficient ways of operating.

Virtual Clinical Trials (VCTs), also known as decentralized or remote trials, are a relatively new and underutilized method of doing clinical research that fully exploits technological advances such as electronic monitoring tools, software, and online social engagement platforms.

Decentralized trials, referred to as virtual trials, are crucial in the current COVID-19 crisis situation but have not yet become standard in how actual studies and trials are conducted. The virtual technique enables people to participate in the trial from the comfort of their own homes, guaranteeing that the trials can be carried out and sustained even if a real visit to the trial location is impractical. Additionally, it is a totally original technique for gathering efficient and secure data from clinical study participants.

Sponsors of virtual research can reach a larger population, which improves participation, recruitment, and retention. Additionally, it makes it possible for digital health technology to keep collecting data in real-time. In the end, virtual collaboration, monitoring, and management can relieve the strain on participants, CRCs, and researchers.

Market Size and Key Findings

The UK Virtual Clinical Trials Market size is at around US $ xx Bn in 2021 and is projected to reach US $ xx Bn in 2030, exhibiting a CAGR of xx% during the forecast period.

UK Virtual Clinical Trials Market Size (In $Bn) (2021-2030F)

Market Dynamics

Market Growth Drivers and Restraints Analysis

Both the domestic and international markets have been greatly impacted by the COVID-19 pandemic. It is required to switch some trials that are primarily designed for traditional settings to virtual trial platforms.

Cancer patients are particularly vulnerable during COVID-19. To protect participants' safety and continue the trials, sponsors and investigators are managing oncology clinical trials digitally and remotely. In order to reduce trial disruptions, regulatory agencies and biopharmaceutical companies are concentrating on developing virtual trials, digital technologies, and telemedicine. As an alternative to in-person visits, the Food & Drug Administration has advised remote monitoring and virtual visits through telemedicine. Therefore, businesses are placing a strong emphasis on bringing about change through technological developments in order to quickly satisfy enhancing healthcare digitization.

Competitive Landscape

Key Players

The prominent players operating in this market include ICON, plc; Parexel International Corporation, IQVIA, Covance, PRA Health Sciences, LEO Innovation Lab, Medidata, Oracle, CRF Health, Clinical Ink, Medable, Inc, Clinical Ink, Halo Health Systems, Croprime

1. Executive Summary
1.1 Disease Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Clinical Trials Regulation in Country
1.6 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share
4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation

6. Methodology and Scope

Virtual Clinical Trials Market Segmentation

The Virtual Clinical Trials Market is segmented as mentioned below:

By Design (Revenue, USD Billion):

Observational Trials
Interventional Trials
Expanded Access Trials

By Indication (Revenue, USD Billion):

CNS
Autoimmune/Inflammation
Cardiovascular Disease
Metabolic/Endocrinology
Infectious Disease
Oncology
Genitourinary
Ophthalmology
Others

By End User (Revenue, USD Billion):

Hospitals
Clinics
Ambulatory Centres
Other

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.