The Department for International Trade (DIT) and the Life Sciences Organisation (LSO) have jointly published guidance encouraging international business and investors to partner with the UK to develop new products in the medtech industry.
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The guidance comes amidst continuing uncertainty surrounding regulatory conditions for the UK following its withdrawal with the European Union.
The government is keen to promote access to the NHS, as well as the presence of organisations such as NICE and the MHRA, as key selling points. The guidance note also emphasises the UK’s expertise in research and development across the healthcare sector.
In particular though, medtech manufacturing is an area which the government believes should hold considerable appeal for international investment.
The Wellcome Trust and the Engineering and Physical Sciences Research Council (EPSRC), for example, drive engineering and physical research sciences in the UK, via their funding of four centres of excellence in medical engineering.
Advocacy groups and thinktanks have previously called for co-operation between the UK and the EU after Brexit – in the hope that the UK can continue to participate in research programmes with bloc following its withdrawal. The government is backing these calls – pointing out that the NHS, as the largest unified healthcare system in the world, treating one million patients on a daily basis, can be of significant aid to research and development.
A similar call came about from the Institution of Mechanical Engineers last year, as well as addressing any research funding shortfall.
There have also been previous calls from medtech giants like Cook Medical in Ireland, to extend the transition period until 2025 in order to protect supply chain integrity, and to prevent any delays.
However, Brexit has been viewed by some in the medtech sector as an opportunity gain a stronger foothold in key markets such as Africa and North America.
