UK Healthcare Outlook Report, 2020 | DelveInsight
DelveInsight’s,“UK Healthcare Outlook Report” provides comprehensive insights about healthcare scenario, regulatory policies and reimbursement landscape in UK. The report also identifies key trends in the healthcare market and provides insights into the demographic and healthcare infrastructure of the country. Along with this the report also provides a brief look into the trends and segmentation of the pharmaceutical and medical devices market of UK.
UK Industry Overview Chapter
Pharmaceutical
The UK is home to GlaxoSmithKline and AstraZeneca, respectively the world’s fifth- and sixth-largest pharmaceutical companies. Foreign companies with a major presence in the UK pharmaceutical industry include Pfizer, Novartis, Hoffmann–La Roche and Eisai. One in five of the world’s biggest-selling prescription drugs were developed in the UK. The most notable event for the pharma industry so far has been the update of the government’s life sciences strategy, which lays out plans for the sector’s future. This June 2016, it’s been four years since UK citizens accepted a UK referendum to leave the EU (i.e., Brexit). Whether or not the United Kingdom would have an agreement in shaping its future relationship with the EU is still on the negotiation table as the deadline for achieving an agreement looms. After a multi-year process to exit the EU, the UK officially exited the EU on January 31, 2020 and entered into an 11-month transition period until the end of 2020 to work out or not its future relationship with the EU. During the transition period, EU law and rules are still applicable across the UK, and the UK remains part of the EU single market and custom union. The UK will formally exit the EU in all ways by the end of the transition period on December 31, 2020.
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Medical Device
An important development for life science businesses is the publication of the Medicines and Medical Devices Bill. As expected, this draft legislation will provide for the UK Government to take over the rulebook for human and veterinary medicines, clinical trials and medical devices after the end of the transition period on 31st December 2020. Currently very closely harmonized at EU level, the legislation is not expected to diverge rapidly from EU law.
However, there are clear signals in the Bill and Explanatory Notes that a separate approach is likely to evolve.
Legislation in this area has previously been updated at EU level, with the changes flowing through into UK law. The Medicines and Medical Devices Bill will allow the Health Secretary to take over that task. The Bill proposes similar powers to amend or supplement the medical devices legislation. Of course, the existing EU directives in this area are due to be replaced by two new Regulations:
- Regulation 2017/745 on medical devices (applicable from 26 May 2020)
- Regulation 2017/746 on in vitro diagnostic medical devices (applicable from 26 May 2022).
Apart from this the report covers some latest information on COVID 19 update and future of healthcare technology in UK.
Report Highlights
- Overview of the pharmaceutical and medical device markets
- An insightful review of the reimbursement and regulatory landscape, covering the healthcare reimbursement process, regulatory agencies, and the approval processes for new drugs and medical devices
- Detailed analysis of the political and economic environment, including economic indicators, demographics, healthcare infrastructure and healthcare expenditure
- An overview of the opportunities for and challenges to growth in the healthcare market
How many Key Players are involved?
The Harley Street Clinic, Portland Hospital, Ramsay Health Care UK, Synergy Health, Nuffield Health, GlaxoSmithKline, Oxford BioLabs, Spire Healthcare, Allied Healthcare, Circle Health Ltd, and others are the key players that are involved.
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