The NHS spends approximately £6 billion a year on medical technology, also known as MedTech, such as medical devices, equipment and digital tools. It is an industry that accounts for more than 86,000 jobs in the UK, almost a third of which are in small companies, and supports an additional 24,600 service and supply roles.
A new report from the AHSN Network – of which the Innovation Agency is a member – provides an essential guide for companies looking to successfully develop and roll out innovations in this complex and diverse industry, focused on the MedTech innovation pathway. It includes a foreword by Piers Ricketts, Chief Executive of Eastern AHSN and Vice Chair of the AHSN Network.
Mike Kenny, Associate Commercial Director at the Innovation Agency, said: “This is a really important and timely report. From the perspective of the North West Coast, we have some of the most innovative MedTech companies in the country on our doorstep and we are continuing to forge excellent relationships with a large number of them.
“We are nurturing a cluster of medical technology companies in the region – known as the HealthTech cluster – that will give them the leverage to access the health market and ensure their innovations are successfully adopted. The ultimate aim is to meet the needs of the health service and deliver better outcomes for patients.”
The MedTech Landscape Review will be launched formally at an event to be held jointly with one of our partners, the Association of British HealthTech Industries (ABHI), on 20 March and introduced by Piers.
In the meantime, the report is available to download, featuring case studies, statistics and practical advice for navigating each step of the MedTech Innovation pathway.