Technology
sector could increase by 50% over the next five years, with the potential to double the sector’s Gross Value Added (GVA) within a decade.
HealthTech’s role in revitalising the NHS At the heart of this economic growth strategy is the relationship between HealthTech and the NHS. The report emphasises the crucial role that HealthTech will play in helping the NHS become more efficient and innovative. By adopting cutting-edge technologies, the NHS can reduce costs, improve patient outcomes, and deliver more personalised, effective care. Professor Lord Darzi of Denham, in his
foreword to the report, highlights the transformative potential of HealthTech for the NHS. “The Independent Investigation of the NHS brought to light the remarkable opportunities that resuscitating the NHS will bring. The HealthTech industry will be pivotal to realising this potential, and the strategy laid out in this report provides a pragmatic and achievable route to delivering on the value offered by the HealthTech sector.” One key area where HealthTech can have a significant impact is in the use of artificial intelligence (AI) and data analytics to improve patient care. AI-powered diagnostic tools, for example, can help clinicians identify diseases earlier and more accurately, leading to better outcomes for patients and reducing the burden on the healthcare system. Similarly, data analytics can be used to optimise hospital operations, reducing waiting times and improving resource allocation.
Expanding the UK’s global each through exports Another key element for unlocking HealthTech’s full potential lies in the expansion of international exports. The global healthcare market is vast and growing, and for the UK to fully capitalise on its HealthTech innovations, international collaboration and market access are essential. Currently, the UK HealthTech market makes up only 3% of the global total, meaning that the vast majority of opportunities lie beyond the UK’s borders. The report underscores the importance of expanding export programmes to ensure that UK-based HealthTech companies can compete and succeed on the international stage. By exporting innovative products and services to healthcare systems worldwide, the UK can significantly boost its economic output and create thousands of high-value jobs. One initiative that has already proven successful in helping UK companies expand internationally is the ABHI’s US Accelerator
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Programme. This initiative has supported over 100 UK HealthTech companies in entering the lucrative US healthcare market, tracking $150 million in business won and facilitating over 70 clinical trials or pilot projects across 12 US states. The report recommends expanding this successful model to cover more territories, including the Middle East and Asia, regions where healthcare innovation is rapidly advancing and demand for cutting-edge solutions is high. By broadening the scope of the ABHI
Accelerator programme, UK HealthTech companies will be better positioned to navigate the complexities of international markets, from regulatory hurdles to market access. The report also suggests the creation of
a HealthTech Global Export Programme, a framework for supporting export initiatives that is tailored to the diverse needs of HealthTech
businesses. This includes offering specialised advice on market entry strategies, regulatory compliance, and building local partnerships in key global markets. To complement these efforts, the report calls for stronger collaboration between government and industry through the Department for Business and Trade (DBT), ensuring that UK companies receive the support they need to grow internationally. This includes sector-specific export briefings for UK embassies and consulates around the world, enabling them to better advocate for UK HealthTech abroad. The creation of a Sector Export Alumni Community is also recommended, providing a peer support network for companies that have successfully entered international markets, sharing knowledge and experience to help new exporters succeed.
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