UK medtech revolution - how can we secure the future of diagnostics?
Ronan Kitchin oversees the Life Sciences & Healthcare vertical at logistics company Aramex UK, explains where there needs to be a focus on fostering more resilient and localised supply chains to safeguard supplyand how to capitalise on the international interest the UK's medical supply chain continues to attract.
As 2023 unfolds, the UK medtech scene has taken centre stage, becoming a beacon of innovation and progress. Investments in the sector have paid off handsomely, sparking a resurgence of homeland manufacturing for medical technologies. The momentum generated during the pandemic for more point-of-care testing (POCT) has catalysed significant advancements in decentralised diagnostics, allowing patients to access fast and reliable answers closer to home.
The demand for POCT kits has soared as patients now expect swift and accurate results for an increasing range of conditions, from diagnosing the flu to monitoring glucose levels. With high investments matching this surge in demand, the healthcare and medical supply chains are reaping the benefits of this activity injection. However, with interest rates reaching their highest level in 15 years, it becomes crucial to invest strategically to safeguard our supply operations and maintain this exceptional pace.
Proud advancements in UK diagnostics
The past 12 months have witnessed remarkable progress in the UK diagnostics sector, fuelled by a sense of pride as we draw upon our esteemed manufacturing roots to drive research, development, and supply for our thriving medtech industry. This strategic shift has not only provided a much-needed boost to the economy but has also fostered more resilient and localised supply chains. These advantages include proximity to suppliers, shorter lead times, reduced emissions from logistics and transport, and increased flexibility and adaptability.
Public and private backing for diagnostics
The diagnostics sector has garnered extensive government support to bolster its competitive advantage, with funding allocated for the innovation, manufacturing, and exporting of future treatments. Notably, the Life Sciences Innovative Manufacturing Fund received £17 million in its first tranche, aimed at supercharging R&D and innovation centre networks within UK manufacturing. The private sector has also exhibited enthusiasm, contributing £260 million, resulting in a substantial total fund of £277 million.
One of the recipients of this fund, Randox, has received £36 million to modernise the manufacture of antibodies used across their diagnostic tests. Such investments have the potential to elevate the UK's reputation as a leading manufacturing nation, making it more attractive for future foreign investment — an invaluable advantage amid the current economic climate.
Unleashing manufacturing prowess
With the pedal to the metal for manufacturers developing components for an expanding list of PCOT diagnostic tools, the focus now shifts to the transport and logistic (T&L) providers responsible for efficiently moving these vital components. The UK's medical supply chain continues to attract international interest due, in part, to long-term investments in R&D, exemplified by the remarkable production of the Oxford-AstraZeneca COVID-19 vaccine. Lessons learned from supply chain crises have led to the establishment of integrated supply chains that capitalise on local strengths.
Harnessing expert knowledge and manufacturing capabilities
The production of components, both large and small, for diagnostics necessitates expert knowledge that aligns with unrivalled manufacturing capabilities. At every stage of the operation, the UK is leveraging its manufacturing prowess, from establishing the necessary digital infrastructure to building connected supply chains, to optimising factory operations that produce core elements of diagnostic technologies.
Injecting investment for last-mile success
To sustain the rapid pace set for UK diagnostics, we must now direct substantial support towards the T&L network. Celebrating the achievements of our medtech industry is crucial but providing the T&L sector with its own injection of investment is equally essential. By doing so, we can ensure that we play to our strengths and avoid any lapses at the last mile. Securing the momentum of this new era of advanced diagnostics depends on giving comprehensive support to the entire supply chain.