The Pulse of the UK’s Medical Device Technology Industry

No industry moves faster than Medical Devices and Medical Technology. Be it regulatory changes or product development, this continues to be a booming industry. According to Invest in Great, The UK is the third largest market for medical technology in Europe, worth around 7.6 billion GBP. The UK’s medical technology sector employs nearly 115,000 people and the UK has the highest number of skilled engineers and researchers in Europe.

The UK medical technology sector is a thriving ecosystem of researchers, scientists, engineers, designers and NHS clinicians working in an established industrial base. Together they drive the path of novel technology from innovation, through the process of design and manufacturing, ultimately to the patient.

There are approximately 3,700 companies in the UK’s medical technology sector, 98% of them are small to medium-sized enterprises. The sector generates a turnover of 21 billion GBP producing a vast range of medical devices and diagnostic technologies.

The fastest growing segments of the UK industry by revenue are:

• Medical imaging, with a compound annual growth rate (CAGR) of 10%
• Vitro diagnostics (CAGR 7%)
• Drug delivery (CAGR 7%)

The fastest growing segments by employment are:

• Digital health (CAGR 28%)
• Drug delivery (CAGR 23%)
• Single-use technology (CAGR 19%)

The UK offers the opportunity for medical technology innovators to:

• Conduct research and development based on unmet clinical needs, matched to gaps in care
• Design, prototype, and manufacture, with iterative development
• Test efficacy and prove clinical utility through clinical studies
• Validate products and gain regulatory approval
• Demonstrate value through health technology assessment and partnership with the NHS
• Unlock global market opportunities by using an evidence base generated in the UK

Examples of innovations that are expected to create market opportunities include:

• 3D medical printing is expected to develop and find implementations in several segments of the medical industry
• Development of minimally invasive surgery by robot technology in combination with endoscopic techniques. 
• Involvement of medical devices producers in the development of biotechnology
• Replacement of reusable devices by disposable devices such as surgical instruments
• Application of nanotechnology; for instance, semiconductor manufacturing techniques, in medical devices

Medical Device professionals Redline regularly recruit for include:

For more information, please contact Adam Walker on 01582 450054 or Info@RedlineGroup.com