The Medical Sector
Britain’s Life Science Strategy
Britain has been making a concerted effort to grow its biotech sector, especially after Brexit.
The principal aim of the Life Science Strategy is to generate Four biotech companies worth more than £20bn in the next ten years. It focuses on increasing the science research base; fixing the scale up issue (or rather the issue that startups exit early to US companies); continuing to close the gap between life science research, translation, and fluid paths in and out of industry; creating efficiencies in the NHS; and probably most timely, ensuring that the doors stay open to European and global scientific talent. Tangible progress has already been made towards implementation with GSK, J & J, MSD and Roche all announcing (https://pharmaphorum.com/news/fanfare-optimism-uks-life-sciences-sector-deal/) new initiatives and investments.
ABHI is the UK’s leading industry association for health technology (HealthTech).
ABHI supports the HealthTech community to save and enhance lives. Members, including both multinationals and small and medium enterprises (SMEs), supply products from syringes and wound dressings to surgical robots and digitally enhanced technologies. We represent the industry to stakeholders, such as the government, NHS and regulators. HealthTech plays a key role in supporting delivery of healthcare and is a significant contributor to the UK’s economic growth. HealthTech is now the largest employer in the broader Life Sciences sector, employing 121,000 people in 3,500 companies, with a combined turnover of £22.2bn. The industry has enjoyed growth of around 5% in recent years. ABHI’s 280 members account for approximately 80% of the sector by value.