Sector Focus: Healthcare

Overview

The healthcare and medical sector is vital to the world economy. Covering a diverse range of industries and activities, the sector includes medical and healthcare services, healthcare products, laboratory services and medical devices. The sector is also growing rapidly, due to a combination of the ageing population, strong income driven demand, technological change and medical advances allowing new forms of treatment.

Many companies in this sector specialise in highly sophisticated niche areas, such as diagnostics, bio-device interfaces and laboratory technology. In the biotechnology sector, some of the biggest firms are recording billions of pounds worth of annual exports worldwide. The expanding range of applications for biotechnology – which includes diagnostics, genetic testing, pharmaceuticals and gene therapy – has created opportunities for smaller drug producers, developers and research organisations.

Different sub-sectors include:

• Medical devices and systems – for example, non-clinical hospital equipment such as aids for the disabled
• Non-clinical consultancy – which could include offering advice to governments on their health services
• In-vitro diagnostics – ranging from pregnancy tests to laboratory tests
• Laboratory technology
• Healthcare and medical equipment – including dental equipment
• Healthcare information technology
• Medical equipment

Key overseas markets

While the opportunities for trading overseas are vast, UK Trade & Investment (UKTI) has identified six key markets:

• USA
• Germany
• France
• Japan
• India
• China

However UKTI will offer support to healthcare exports in all overseas markets.

Reasons to consider exporting in the healthcare and medical sector

The UK has an excellent track record in exporting its healthcare and medical products and services and there continues to be great demand for UK healthcare expertise as overseas markets aim to improve their services and facilities.

The sector continues to grow rapidly, providing continuous overseas business opportunities. Depending on the sub-sector, global demand for products and services from this sector is growing at between 7% and 10% each year.

The Yorkshire & Humber region has the added benefit of cutting edge R&D, through its network of universities and research organisations. Overseas healthcare businesses benefit from this R&D expertise through collaboration on healthcare projects. Traditionally, the US and other foreign companies have selected the UK as their European operational base as it represents a gateway to the rest of Europe.

How we can help

UK Trade & Investment can offer help and support to companies in the healthcare and medical sector, wishing to target an overseas market.

Charlotte Bowden is the UKTI regional sector specialist for this sector in the Yorkshire & Humber region. To contact Charlotte, or to find out more about the support available to your business, please get in touch with an international trade adviser.

More information on the healthcare and medical sector can be found in the sections listed below.

• Reports and publications
  These reports and publications contain useful information relating to the healthcare and medical sector.
• Support organisations
  Here you will find details of the organisations which can help companies in the healthcare and medical sector to expand overseas.
• Regional success stories
  Case studies of healthcare and medical companies within the region which have taken their products or services overseas.
• Healthcare Newsflashes
  Healthcare Newsflashes produced by UKTI’s regional sector specialist Charlotte Bowden.