Brevia

Healthcare Equipment and Services:

The UK is home to some of the most distinguished scientists in the world, and is recognised as a leader in research, development and innovation. Generating over 10% of the world’s clinical science, it is a prominent global voice in healthcare and has discovered or developed around 20% of the world’s 100 top selling medicines, second only to America and more than the whole of Europe combined. The industry has strong international links and has an increasing presence in the global market, exporting around £4 billion worth of goods and services each year. The sector also attracts a lot of foreign investment, particularly from America, with the majority of large healthcare companies being foreign-owned.

The industry faces substantial challenges. It must continue to strive to meet the demands of a growing and ageing population with increasing expectations, and also deal with funding squeezes whilst adapting to major structural changes planned by the Government. Such reforms include a focus on transparency and on outcomes rather than process, as well as a simplification of regulatory and governance frameworks. Keeping up with advances in technology is a constant challenge and there is a crucial need to improve the UK cancer survival rates which are behind the EU average through a better system of prevention, awareness and intervention. Serious skill shortages must also be addressed by the sector with apprentice programmes and through stronger engagement with education and academia. With healthcare and research and development budgets being squeezed, the industry will have to learn from China and India’s example and master frugal innovation. Working collaboratively with the Government and advising politicians on the best decisions to make on behalf of the sector is essential in order to guarantee success in overcoming challenges the industry faces.

Biotechnology and Pharmaceuticals:

The UK life sciences industry comprises highly skilled workers, extensive research and bold innovation. The UK medical biotechnology sector is the most established in Europe, having a strong track record of innovation in drug discovery and first-rate university departments, teaching hospitals and research institutes. The ever-growing industry includes around 950 companies with a combined turnover of approximately £5.5bn.

The UK industrial biotechnology sector has huge potential to grow and expand, due to its ability to address the increasing global concern of climate change and CO2 emissions. Current turnover stands at just over £300 million, while estimates of 2025’s market range from £4 billion to £12 billion. Thus, the sector is still emerging and significant investment is needed in order to bank on the industry’s huge potential.

The pharmaceutical industry in the UK is second globally, behind America, in terms of market share and has a greater market share than European competitors combined. Furthermore, the two largest UK pharmaceutical companies are amongst the most successful in the world. However, although the UK is one of the world’s largest exporters of pharmaceuticals by value, it also spends far less on medicine than many other European countries. As with the biotechnology sector, securing investment for research and development will be the industry’s top priority to maintain its high standards of innovation and production.