The UK is a global hub for life sciences, second only to the USA for life sciences inward investment and leading in Europe on life sciences finance. It offers a connected and forward-thinking industry cluster, linking investors with customers, collaborators, supply chains, and innovation partners. The sector is supported by government and industry collaboration, including through a new long-term Life Sciences Vision. The UK has a competitive business and regulatory environment, as well as a world-class biomedical science base. Investors in the UK can access unique talent, health research infrastructure, and a partnership working approach with the national health system.
OPPORTUNITY HIGHLIGHTS:
More than 5,600 life sciences businesses already operate in the UK, including all the top 25 global pharmaceutical companies and top 30 global medical technology companies. More than 250,000 people are directly employed in the industry, and the UK is also a hub for global talent. The UK offers strengths and opportunities for businesses in a wide array of life sciences segments and sub-sectors.
MED TECH:
The UK is home to one of the largest medical technologies (MedTech) industries in the world and leads in its research capabilities. Our world-class universities consistently attract global talent and have a rich history of ground-breaking medical innovations. Government-funded infrastructure dedicated to MedTech is ready to work with industry. Opportunities exist for investors and businesses developing and delivering innovative medical technologies integrated with digital health technologies, and across medical devices, genomics, and advanced diagnostic.
PRECISION MEDICINE:
The UK’s precision medicine ecosystem offers innovators access to excellent research capabilities, leading infrastructure, and a supportive business environment with policies to enable the growth of this dynamic industry. Precision medicines cut across the sector, with opportunities for businesses working in diagnostics, genomics, targeted treatments, and aligned technologies and services.
R&D CAPABILITY:
The UK is at the forefront of global scientific exploration, invention, and innovation. The future of the already highly productive science base is secured by a commitment to increase R&D spending to 2.4% of GDP by 2027. Alongside generous government support and tax relief, biopharmaceutical companies operating in the UK can access private-sector finance – with more capital pouring into the sector than ever before. Life sciences financing in the UK grew by 1000% from 2012 to the present. UK researchers and institutions have won numerous Nobel Prizes and pioneered major scientific breakthroughs. These have included the discovery of penicillin and the structure of DNA, advances in neuroscience and medical imaging, developments in stem cells and IVF, and applying artificial intelligence and data science to biological problems. This unparalleled science base is supported by partnerships with the government, industry, and the third sector.
COMMERCIAL MATURITY:
The UK has more biotech products in development than any other country in Europe, generating a turnover of £80 billion and exports of £30 billion. The UK has a track record of scientific breakthroughs and a new long-term Life Sciences Vision setting the direction and action over the next decade. The National Health Service (NHS) is a major purchaser of life sciences products and services but is also an innovation partner that can help develop and deliver these advances. UK regulatory and health leadership along with a global trade approach are helping to bring UK life sciences and health solutions to the world.
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