UK Life Sciences ‘Needs To Avoid Complacency’
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The UK’s life sciences sector has achieved remarkable things in recent years and continues to go from strength to strength. However, it’s important that those within the sector don’t get complacent.
This is the opinion of Baroness Blackwood, who delivered a speech to the Association of British HealthTech Industries (ABHI) UK Market Conference earlier this month.
In her presentation at the event, Baroness Blackwood pointed out that the UK currently has a world-leading life sciences hub that received the highest level of foreign direct investment in Europe for its projects, as well as a biotech sector that’s continuing to grow rapidly.
While she praised what’s been achieved, she stressed that “this is no time to get complacent”.
“I recognise how globally mobile this industry is. If the UK does not remain competitive, you will move to Boston or Singapore, and we will lose jobs and investment,” she asserted.
Healthtech is an area that has huge potential, and one that could benefit patients in the NHS as innovative technologies are introduced. Encouraging firms to develop technology for this market is mutually beneficial, because the NHS gets access to new technology while the firms developing the technology have a ready-made market.
“My ambition is for the NHS to build genuine, deep, trusting partnerships with industry that create long-term value,” Baroness Blackwood stated.
Another area of growth within the UK’s life sciences industry is personalised medicine. A report from Santander and Make UK identified this as a key area of growth, along with wearable technology, diagnostic devices and bionics.
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