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Medical and Healthcare Overview

The UK Government recognises the crucial role in providing world-class support to industry and through the UK Trade and Investment (UKTI) will promote the UK's Medical and Healthcare markets under the umbrella of the Life Science Unit.

The summary of the Life Sciences market in the UK below is taken from the UKTI Life Science Strategy document March '08.

The UK punches well above its weight in Life Science. Our Life Science industry is world-class. In Life Science investment terms we lead in Europe; globally we are second only to the USA. The pharmaceutical industry alone contributed over £12 billion to UK exports in 2006.

Many big global players in Life Science have a major presence in the UK, attracted here by the country's vibrant economy, world-class science and supportive business environment. We are strong in many disciplines and across different sectors. Our Life Science industry is well represented across the UK, in the regions and devolved administrations as well as in the longer established centres of London, Oxford and Cambridge.

Why has the UK established such a commanding presence in Life Science? A major reason is the strength of our science base.

The UK is Europe's top R&D location and a global hub for scientific research. It has eight of the world's top universities (in Europe, four out of the top five), and a cluster of world-class research centres. It accounts for over 10 per cent of global Life Science R&D funding, well in excess of share according to population size.

The UK is a magnet for leading scientists; in the field of biomedical research alone, 23 Nobel Prizes have been awarded to UK-based scientists in the past 40 years. The continued vitality of UK science is ensured by strong UK Government commitment and support at every level - for example, we have the world's third-highest proportion of young science graduates.

The commercial exploitation of scientific innovation requires a wide set of skills. Here too the UK is ahead of the game, with a well-educated and culturally diverse workforce and world-class managerial, marketing, creative and legal expertise.

In an industry that relies on continued innovation, it is vital for Life Science companies to develop and protect their intellectual property.

The UK's first-class legal and regulatory infrastructure is a key asset. One important component is our highly respected regulatory system. Considered a benchmark for regulation elsewhere in the world, institutions like the Medical and Healthcare Products Regulatory Agency strike a sensible, pragmatic balance between encouraging innovation and ensuring public safety.

Life Science companies find the UK an exciting and welcoming place to do business, due to our entrepreneurial economy, status as a global financial centre and supportive and stable business environment. We have competitive levels of corporation tax and a strong venture capital community with ready access to investment capital. Economically and geographically the UK is a natural springboard to the European market. It is the world's top destination for European investment.

The UK's position as the heart of the English-speaking world is an important asset for Life Science companies.

English is the language of science, technology and business. Together with a tolerant and diverse culture and superb connectivity and transport links, this makes the UK a great location for a global industry with so many international partnerships.

Lastly, the UK Government is committed to make the UK the best global destination for Life Science investment, with scientific research funding expected to hit £3.4 billion in 2007-8 alone. Over £1.3 billion has been allocated to companies under the Government's R&D tax credit scheme since 2000, and there is a ten-year framework for increasing R&D as a share of GDP. The publicly funded National Health Service (NHS) is one of the largest purchasers of Life Science products in the world. It offers outstanding capability in conducting clinical trials and is home to many of the world's most successful clinical teams.

The benefits of the UK's stimulating scientific and economic environment can be seen from a closer look at the three sectors. The UK has the largest share of European investment in biotechnology, pharmaceuticals and healthcare; in some specialised areas like embryonic stem cell research it leads the world.

Biotechnology
The UK is a leading global player in many areas of biotechnology, such as stem cell research. It is home to 40 per cent of Europe's public biotechnology companies. It is Europe's most popular location for investment in biotechnology, partly because of its world-class university-based research capability and the existence of centres of excellence like those funded by the Medical Research Council (MRC) and the Wellcome Trust.
The UK has a strong track record in encouraging start-up biotechnology businesses and bringing products to market. The NHS makes an important contribution to the biotechnology sector. It provides an excellent environment for conducting clinical trials and gathering data and is itself a growing source of bioscience innovation.

Healthcare
With a £120 billion healthcare market (2006), the UK is home to many of the world's leading clinicians, scientists and researchers, attracted by its world-class research capabilities and track record of research breakthroughs. It is a leader in developing cutting-edge healthcare products for a world market; in 2006 it exported healthcare goods and services with a value of over £14 billion.

Pharmaceuticals
The UK has Europe's biggest pharmaceutical industry and is second globally only to the USA. It makes a strong contribution to the UK's export business; pharmaceutical exports totalled over £12 billion in 2006. Two of the top five largest pharmaceutical companies in the world are based in the UK - AstraZeneca and GlaxoSmithKline - and many other leading players have research centres or their European headquarters here.
A strong research base and the presence of many advanced centres of excellence contribute to the UK's healthy drug development pipeline. Thirty-five per cent of European clinical trials of European biopharmaceuticals take place here. In 2006 the UK pharmaceutical industry invested over £3.3 billion in R&D, accounting for around a quarter of the UK's total manufacturing R&D. Like biotechnology and healthcare, the pharmaceuticals sector benefits from the UK's robust system of intellectual property protection.

*Taken from the UKTI Life Science Strategy document March08