The Midlands is home to a wide range of industry and academic-led medical facilities, research and expertise, which puts the region in a position to lead the development of new MedTech products, services and businesses and to capture some of the growing national and global MedTech market.
The MedTech sector in the Midlands contributes an estimated £1.6bn annually to the region. With around 1,000 companies in the industry, the region has the largest number of MedTech businesses in the UK, and is the second-largest employer with a workforce of 23,600. Industry engagement specialisms include NICE standards, CE marking, NHS business plans and the regulatory landscape.
It’s a highly sustainable industry, with the majority of businesses in the sector more than 10 years old – longevity which, far from showing lack of innovation, has been enabled by significant investment in R&D.
Certain barriers, however, are preventing the industry from reaching its full potential. These include supply-chain fragmentation, limited access to private investment and time constraints.
A number of interventions have been identified to remove these barriers, and strategic work at a regional and local level is ongoing, with the aim to prioritise MedTech as a core Midlands sector poised to become a national and international leader.
Download a copy of the Midlands MedTech Sector Analysis Report.
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