Clinical research is extremely beneficial for the NHS and the UK economy, according to a recent report. The report was commissioned by the National Institute for Health Research (NIHR) and was published in October 2019.
The report shows that Clinical Research supported by the NIHR Network, generated £2.7 billion GVA (1) and 47,467 FTE (2) jobs, between April 2018 and March 2019.
NHS boards in England received roughly £355 million from companies for participating in commercial clinical trials and saved £28.6 million on medication costs, where trial drugs replaced the standard of care treatments.
More information can be found here.
(1) Gross Value Added is a measure of the value of goods and services produced in a sector of an economy.
(2) Full Time Equivalent.