Pulse of the Sector: 2024 Business Survey
Topic : Type : Report
The 2024 Pulse of the Sector survey, conducted by ABHI and CPI, paints a picture of a UK HealthTech industry at a pivotal moment.
The results indicate that whilst the sector continues to provide critical life-enhancing technologies and significant employment across the country, it faces persistent regulatory challenges and NHS barriers that hinder innovation.
The survey findings highlight:
- Regulatory uncertainties and impractical NHS tender requirements have led half of the companies surveyed to delay bringing new innovations to the UK.
- 30% of businesses have chosen not to bid on NHS tenders due to unworkable conditions.
- Rising costs in regulation, sustainability compliance, freight services, and labour have compounded these issues, creating significant pressure on the sector.
Despite these obstacles, the UK HealthTech industry remains optimistic about its potential for growth.
Over 30% of surveyed companies plan to expand their research, development, and manufacturing investments in the UK. The industry's strong support for the MHRA’s proposed framework for international recognition and reliance, with four times as many companies favouring it over other government initiatives, further highlights the sector's confidence in the UK’s role as a global leader in healthcare innovation.
ABHI and CPI continue to advocate for urgent action to remove these barriers, enabling HealthTech companies to thrive in a globally competitive market. This will allow the industry to reach its full potential, benefiting the NHS, the patients it serves and the economy.
Access the report below.
