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Direct-to-Patient (DTP) market is projected to grow at a CAGR of 6.1% by 2032: Visiongain Reports Ltd
Visiongain has published a new report entitled Direct-to-Patient (DTP) 2022-2032. It includes profiles of Direct-to-Patient (DTP) and Forecasts Market Segment by Type, (Direct-to-Patient Marketing, Direct-to-Patient Health Services, Direct-to-Patient Clinical Trials, Direct-to-Patient Logistics) Market Segment by Direct-to-Patient Marketing, (DTC Prescribed Drug Advertising, Disease Awareness Campaigns, Brand Promotion, Healthcare Services Promotion, Laboratory Testing Promotion, Other Direct-to-Patient Marketing) Market Segment by Direct-to-Patient Health Services, (Tele Consultation, Drug Prescription, Medical Call Centers, Telesampling, Online Services) Market Segment by Clinical Trials, (Tele Health Screening, Investigational Medicinal Product (IMP), Patient Support Systems, Other Clinical Trial Services) Market Segment by Direct-to-Patient Logistics (Prescribed Medicine Delivery, Pre-Clinical Supplies, Clinical Trial Supplies, Home Trial Support, Test Samples Collection, Rest All CSO Services) Market Segment by Therapeutics (Cardiovascular Disease, Respiratory Diseases, Oncology, Infectious Diseases, Dermatology, Other Therapeutics) Market Segment by Model, (Depot-to-Patient, Site-to-Patient, Hybrid Model, Direct-From-Patient (DfP), Other DtP Models) plus COVID-19 Impact Analysis and Recovery Pattern Analysis (“V”-shaped, “W”-shaped, “U”-shaped, “L”-shaped), Profiles of Leading Companies, Region and Country.
The direct-to-patient (DTP) market was valued at US$38,651 million in 2021 and is projected to grow at a CAGR of 6.1% during the forecast period 2022-2032.
Virtual Clinical Trials Offer the Potential to Solve a Significant Access Problem
Virtual clinical trials offer the potential to solve a significant access problem, particularly for hard-to-reach communities, residents of rural locations, and patients who are severely ill. Patient-centred trials, especially in rural regions, will make patients feel less stressed and allow them access to health testing. Virtual trials can be a significantly more cost-effective, safe, and patient-friendly paradigm for clinical testing projects around the world if planned and carried out successfully, despite the fact that there are important organisational, scientific, and technical problems.
In the Direct-to-Patient model, many of the duties that doctors would typically carry out are handled by external partners, which introduces an additional level of complexity. The right partners must be included early in the planning process, though. Patient centricity has been emphasised in clinical trial design, yet challenges still exist. Direct patient access to study medication can reduce the need for site visits and enhance the patient experience.
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How has COVID-19 had a significant negative impact on the Direct-to-Patient (DTP) Market?
In accordance with the FDA Guidelines, MIRT's Clinical Trial Provisioning Management Enables Continued Clinical Research for Pharmaceutical Companies Among the COVID-19 pandemics. The Direct to Subject module of DDI's mIRT allows for flexible drug delivery from the site, warehouse, and/or central pharmacy to the patient's home. Direct-to-Patient Clinical Trials are supported by MIRT. The Depot-to-Patient, Central-PH, and Hybrid models are only a few of the important Direct-to-Patient models that are supported by mIRT's Direct to Subject Module. Different DtP models can be customised for a specific study based on the patient, study, place, and country. People can comply with the numerous norms and laws around the world thanks to this.
There are alternative solutions have been devised in the majority of nations to help the individuals who are most at risk to continue receiving treatment for non-communicable diseases. Globally, 58% of countries (those reporting service disruptions) are now embracing telemedicine (advice given over the phone or online) to replace in-person consultations; in low-income countries, this number is 42%. In two-thirds of the nation’s reporting, triaging to establish priorities has also been frequently used.
How will this Report Benefit you?
Visiongain’s 343-page report provides 155 tables and 164 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the direct-to-patient (DTP) market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Direct-to-Patient (DTP). Get financial analysis of the overall market and different segments including type, direct-to-patient marketing, direct-to-patient health services, clinical trials, direct-to-patient logistics, therapeutics and company size and capture higher market share. We believe that there are strong opportunities in this fast-growing direct-to-patient (DTP) market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
What are the Current Market Drivers?
Decentralization Driving Direct-to-Patient Marketing
Because of the benefits of real-time monitoring and improved patient centricity, decentralization has also significantly improved patient satisfaction and compliance. Trials can be conducted for patients in far-off areas or for non-ambulatory subjects thanks to decentralization. Immunocompromised patients have particular difficulties; any travel may put them at undue danger. These hazards, especially for the most vulnerable, have further increased as a result of the global epidemic. The capabilities of ongoing studies as well as new ones being started during the pandemic have been enhanced through virtual patient management, incorporating DTP care, decentralization, and telemedicine.
Recognizing the Value of Direct-to-Patient
Direct-to-Patient programs should be taken into account as an incentive to increase patient enrolment, shorten trial times, and lower overall expenses in addition to serving as a cost-effective replacement for the current paradigm. Provided the solution is found to be a good fit for the research and the appropriate due diligence is carried out, direct-to-patient programs will be greatly beneficial tool for a more thorough clinical trial.
The method will continue to be improved in the next years thanks to technology developments, particularly improved measuring technologies, which will also improve patient experience and give stakeholders a clearer picture of the supply chain. With this in mind, advertisers should begin determining whether this tactic is workable for trials in the future. Therefore, growing use Direct-To-Patient would spur market expansion throughout the projection period of 2022 to 2032.
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Where are the Market Opportunities?
DTP Services Are not Just for Delivering Medications
DTP businesses provide a wide range of services to its clients, who in this instance are patients. Systems for home care, medications, personal hygiene supplies, test sample collecting, and reporting are all provided by DTP companies. Another advantage is the ability to examine a big and small sample size (such as rarity) for a variety of indicators. A DTP assures adherence to local, state, federal, and international laws, rules, and regulations. Easy accessibility is another benefit, not least because many people are receiving routine medical examinations in hospitals.
DTP Would be the Primary Point of Contact for Patient Support
A very high level of market coverage is ensured by this pioneering role because it supports virtually all types of investigations (drug studies, research into medical devices, non-interventional drug studies, registry trials, epidemiology, academic or industry sponsored studies). Although fundamental research funding is not currently anticipated, a DTP can provide help if required. The focus is currently on creating a DTP model that will serve as a template for constructing more DTP in additional prospective areas.
Competitive Landscape
The major players operating in the direct-to-patient (DTP) market are Access TeleCare, Agnity Inc., AMD Global Telemedicine, American Well, Avel eCare, Axs Health, Babylon Health, Citius Tech, Dictum Health Inc., Doctor Anywhere, Doctor on Demand, Health Partners, Health Tap, HIMS, Marken, 20/20 NOW, NURX, Practo Technologies Pvt. Ltd., Specialists on call, Inc., Teladoc Health Inc., True pill, Up Script Health. These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch.
Recent Development
In August 2022, Marken, a crucial component of UPS Healthcare reached agreement to buy Cedra Express' medical courier division. Cedra Express is a New Zealand-based transportation and logistics company that caters to the life science and pharmaceutical industries. This acquisition will improve Market’s position as a regional provider of cell and gene logistics for clinical trials.
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Visiongain is one of the fastest-growing and most innovative independent market intelligence providers around, the company publishes hundreds of market research reports which it adds to its extensive portfolio each year. These reports offer in-depth analysis across 18 industries worldwide. The reports, which cover 10-year forecasts, are hundreds of pages long, with in-depth market analysis and valuable competitive intelligence data. Visiongain works across a range of vertical markets with a lot of synergies. These markets include automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors. Our customised and syndicated market research reports offer a bespoke piece of market intelligence customised to your very own business needs.
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Email: oliver.davison@visiongain.com
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