Unlock your global business potential: UK Medical Technology

The UK medical technology sector has rapidly grown over the last 4 years, with the combined turnover of UK medical technology companies increasing by 50% between 2009 and 2012. In parallel the number of medtech companies based in the UK increased by 12%.

The UK is committed to building a globally competitive integrated health economy including strengthening the business environment that supports and rewards innovation ensuring that it is the global location of choice for life science investment.

Opportunities in Medical Technology

Further potential for growth is seen in the medical device market, an important subset of the medical technology market, where growth in the UK is forecast at 7.3% per annum reaching a value of £9.1bn by 2018, currently valued at £6.4bn in 2013 in the UK.

The UK medical technology sector is a thriving ecosystem of researchers, scientists, engineers, designers and NHS clinicians which your business can access. There are over 3,000 UK-based companies in this sector, made up primarily of innovative SMEs. A third of these companies have significant R&D and manufacturing activity in the UK. Also, with over 71,000 individuals employed in this sector, your business can be guaranteed to access the intellectual capital to grow and expand.

Accessing the UK medical technology market

Your company can access the UK medical technology market and supply chain by engaging four growing healthcare markets:

  • The National Health Service (NHS) market, The NHS is a publicly funded healthcare system which is free at the point of access. In 2011-12, the NHS systems across the UK collectively spent approximately £128bn.

  • The UK private healthcare market is growing and is estimated to reach £35bn by 2015.

  • The social care market, dominated by assistive technologies and private care homes, is set to grow from £2bn in 2012 to £6bn in 2020 due to the demand for delivery of care closer to home.

  • The consumer health markets. As patients become more empowered to take care of their own health they are increasingly demanding healthcare products to match this ambition.

Ease of doing business in the UK

The UK Government is committed to creating a supportive business environment for life sciences in the UK, and for the advancement of medical technologies. The UK’s medical technology sector benefits from a competitive tax environment, R&D tax credits and the patent box. This combined with incentives for research and investment as well as a talented workforce make up the UK’s business-friendly environment. Funding for biomedical translation and business growth is available across England, Scotland, Northern Ireland, and Wales.

The UK’s rich and diverse environment

The UK offers your medical technology business:

  • A nationalised health service providing unrivalled access to a single healthcare market of over 60 million people

  • World-class resources, academic institutions and research to prove concepts for innovative medical technology

  • Manufacturing capabilities to design, prototype and engineer medical technologies

  • A national clinical research infrastructure to translate research, access patients and validate and design, utility and effectiveness of your medical technology

  • A fast and supportive regulatory system for CE Marking

  • Health economic assessment to build evidence towards early adoption and market entry

  • Access to anonymised patient data

  • Access to government incentives and tax breaks

  • A supportive investment environment for your business’ growth

  • Support available from UK Trade & Investment (UKTI) to help launch your business into the UK and then into international territories.

Find out more about UK Medical Technology by downloading our brochure which includes examples of industry collaboration in action (pdf: size 1.22 MB).

You can also download our leaflets on Laboratory Medicine, Point of Care, and Medical Imaging.

Sectors: Healthcare & Medical
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