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Medical technology: grow your business in the UK
- strong research base
- world-leading innovation
- skilled engineering workforce
7.6 billion GBP total market worth
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 a novel technology from innovation, through the process of design and manufacture, and ultimately to the patient.
There are nearly 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. They produce a vast range of medical devices and diagnostic technologies.
There is a significant focus on single use technology, orthopaedic devices and in vitro diagnostics. The service and supply chain for medical technologies provides essential support including design, manufacturing and regulatory expertise.
The fastest growing segments of the UK industry by revenue are:
- medical imaging, with a compound annual growth rate (CAGR) of 10%
- in 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 sector employs nearly 115,000 people and the UK has the highest number of skilled engineers and researchers in Europe.
The UK offers the opportunity for medical technologies 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
The UK offers access to innovative researchers in engineering, physical, social, medical, and digital sciences.
If you’re investing in or setting up in the UK, you can benefit from supportive medical technology partners every step of the way, including:
- The National Institute for Health and Care Excellence (NICE) - a world leader in health technology assessment
- The National Institute for Health Research (NIHR) Office for Clinical Research Infrastructure and Clinical Research Network - offers access to academic and clinical expertise and collaboration
- Innovate UK - a leader in various technology-enabled innovations
The government also has up to 50 billion GBP available to support finance and insurance for supplies from within the UK to buyers outside the UK. This support takes the form of guarantees, insurance and loans issued by its export credit agency, UK Export Finance.
We can help you grow your business in the UK
Whether you’ve already decided to grow your business here or you’re just starting your research, the UK government can help you make the right decision.
Research your industry
You should research your market to help you decide if the UK is the best place for your business. Contact our Investment Services Team to get market research and other expert help and advice.
Want to move your business to the UK?
You’ll need to follow several steps before moving to the UK, including applying for visas and finding the ideal location for your business. Read our UK setup guide.
The UK government can give you free help and support every step of the way. Contact us to find out more.