Medtech

The UK is home to one of the largest medical technology (medtech) industries globally. It leads the world in research capabilities with universities that consistently attract global talent, building on an existing rich history of ground-breaking medical innovations.

Opportunity highlights

Genomics

Understanding individuals’ genomes has been revolutionary in the development of new diagnostics and therapies supporting precision medicine. Combined with data and informatics capabilities, the UK is world leading in the application of genomics in personalised care.

Medical devices

From insulin pumps to robotic arms, medical devices play a crucial role in supporting our health and wellbeing throughout our lives.

Diagnostic imaging

Recent medical advancements are moving the sector towards greater usage of diagnostic imaging, closer to the patient. This enables more and better screening and faster therapeutic interventions.

Diagnostics

The UK diagnostics sector is well positioned to capitalise on the growing market need for advanced diagnostics, offering increasing opportunities for innovative and effective care in a range of settings, from labs to point of care and at-home testing.

Digital health technologies

The technology boom of the last 2 decades has changed how software is used in medical devices. From AI analysis of images to smartphone monitoring systems, data-driven technology frees up clinical time and allows patients to better manage their own health.

Commercial maturity

There is high demand for medical devices in the UK. As a result, the medtech industry is undergoing dynamic growth as healthcare systems search for innovative solutions to address disease and medical conditions.

Investors can take advantage of a unique, collaborative biomedical system and a dedicated support infrastructure - with the NHS at its core. The NHS supply chain offers suppliers reduced points of sale, with a single route to market.

Key UK assets

Midlands

The Midlands has a diverse and growing medtech sector, backed by world-leading research institutions and large teaching hospitals. medtech turnover for the Midlands reached £3 billion in 2019.

The region has significant strength in clinical trials infrastructure and expertise. The Institute of Translational Medicine (ITM) and the Birmingham Centre for Clinical Trials (BCCT) are expert in the design and running of medical device trials, and high accrual rates.

Wales

Around 65% of all Welsh based life sciences companies are in the medtech and diagnostic sub-sector. In the Cardiff capital region alone, 200 businesses work in medical diagnostics and devices. The sector has developed into established clusters of excellence, in high-growth markets.

This includes:

• in vitro and molecular diagnostics
• single use technology
• wound care

North of England

The North of England offers a wealth of opportunity to ambitious life science companies across the sector, including:

• in vitro and molecular diagnostics
• in vivo imaging
• medical devices

South of England

The South of England is one of the largest life sciences clusters in the world, attracting world-class talent and businesses to conduct specialist research and develop ground-breaking medical technologies.

R&D capability

Total and per capita government funding for health research ranks second only to the US, among OECD countries. The sector is well placed to deliver technologies to help people live healthier for longer.

The UK is home to a number of medtech centres of excellence that offer cutting-edge research and expertise.

They help companies to design, research and develop their medtech solutions integrated with an active, at scale healthcare system. Its world-leading research ecosystem includes the following centres and infrastructure:

• Medtech and In Vitro Diagnostics Co-operatives (MICs)
• Artificial Intelligence and Diagnostics Centres
• Health Data Research UK (HDR) UK Health Data Research Hubs

Business and government support

In the government’s R&D roadmap, its long-term objectives are clear. The UK aspires to be a science superpower, investing in the science and research that will deliver economic growth and societal benefits across the UK for decades to come. This will build the foundations for the new industries of tomorrow.

The Government’s UK Life Science Vision has set a 10-year strategy for the sector, to build on the successes of the UK’s COVID-19 response and accelerate delivery of innovations to patients.

The vision outlines 7 critical healthcare missions that government, industry, the NHS, academia and medical research charities will work together on at speed to solve.

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