The UK’s MedTech trade deficit stands at £5.4 billion in 2023, according to government data.
A report released by the Department of Health and Social Care highlights that imports outweigh exports by this significant amount.
In 2023, UK MedTech exports reached £10.1 billion, showcasing a 5% increase from the previous year.
Despite growth in exports, the UK ranks eleventh globally for MedTech exports, far behind top performers like the US, China, and Germany.
The value of UK MedTech imports in 2023 was £15.5 billion, positioning the country sixth globally among comparator nations.
To address this trade gap, ABHI calls for a HealthTech export campaign to boost international opportunities for UK firms.
Health Secretary Wes Streeting aims to establish Britain as a MedTech powerhouse, leveraging the nation’s healthcare and life sciences expertise.
The UK’s shortage of MRI units, CT, and PET scanners per million population remains a concern among global competitors.
Collaboration between the NHS, research institutions, and MedTech companies is crucial for driving innovation and growth in the industry.
