The UK medical device market is the third largest in Europe, and the sixth largest in the world. It generates an annual turnover of approximately £21 billion. The sector is mostly founded on small to medium-sized companies. There are some 3,700 medical manufacturers in the UK. About 115,000 people are employed in the industry. Many multi-national companies have head offices or subsidiaries in the country.
The largest purchaser of medical technology is the National Health Service. It accounts for 85% of Britain’s healthcare provision. The NHS is funded by the central government but its management is devolved. Wales, Scotland, Northern Ireland and England each have their own system of public healthcare. Most medical technology is acquired by the hospital trusts. Trusts spend over £6 billion per year on clinical supplies.
The medical sector is a rapidly growing market for UK manufacturing. The UK has world class facilities, producing technology leading medical devices. Medical companies produce a vast range of devices and diagnostic technologies. The strength of the sector lies especially in orthopedics, imaging, diagnostics and cardiovascular devices. Digital health and single-use technologies are rising segments. Britain also has the largest biotech sector outside the U.S.
A significant percentage of UK products are exported. Exports are valued about £7.6 billion each year. With such a consistent demand for imported products, the British medical industry is always receptive to innovative technologies. Regulation in the sector is sensible and pragmatic. The supply and services chain is efficient.
Conro Electronics is a major supplier to the industry. Our medical products have been tested to ensure they meet ISO 10993 safety standards. We will continue to support the medical sector with the best and safest products.