Medical technology – vital to patients, essential to UK economy

• 30 million people in the UK are forecast to be diagnosed with long-term conditions by 2050 (Source: NHS)
• £476 million in savings could be generated from the use of eight technologies in reduced long-term health costs and benefit payments (Source: MTG Keeping Britain Working Report 2017 / The Work Foundation)
• The medical technology sector employs 145,700 people in the UK with a turnover of £30.0bn (Source: ABHI)
• The UK medical technology sector is made up of around 4,294 businesses, 85% of which are small to medium enterprises (Source: ABHI)
• Regulatory challenges have seen 46% of companies remove products from the UK, and 10% of HealthTech businesses look to relocate their research & development department abroad (source: ABHI: The Pulse of Healthtech Business Survey 2023)
• 500,000 different medical technologies are available (including medical devices, in vitro diagnostics, imaging equipment and e-health) (Source: Eucomed)
• The UK earns around 5.6 billion euros from medical technology exports each year (Source: Eucomed)
• 62 million GBP could be saved every year from hospital and consultant visits by increasing insulin pumps to NICE benchmark (Source: The Work Foundation)
• 40% of ICSs lacked formal patient involvement in board meetings and subcommittees (MTG: Forum of Meaningful Patient Involvement report 2023)
• The highest and lowest performing NHS services in the country according to referral to treatment data are just 13 miles apart (MTG: Levelling Up or Levelling Down: The Impact of Integrated Care Systems on the Delivery of Care 2023)

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