The NHS spends approximately £6 billion a year on medical technology, also known as MedTech, such as medical devices, equipment and digital tools. It is an industry that accounts for over 86,000 jobs in the UK, almost a third of which are within small companies, and supports an additional 24,600 service and supply roles.
A new report from the AHSN Network provides an essential guide for companies looking to successfully develop and roll out innovations in this complex and diverse industry, focused around the MedTech innovation pathway. It includes a foreword by Piers Ricketts, Chief Executive of Eastern AHSN and Vice Chair of the AHSN Network.
The MedTech Landscape Review will be launched formally at an event to be held jointly with one of our partners, the Association of British HealthTech Industries (ABHI), on 20 March and introduced by Piers.
In the meantime, the report is available for download here, featuring case studies, statistics and practical advice for navigating each step of the MedTech Innovation pathway.
Here are a few examples of our recent work in Yorkshire & Humber supporting MedTech companies in Yorkshire and Humber:
- We provided Tookie, a medical device company, with funding for their innovation, the Tookie Vest. This innovation, initially developed for paediatric oncology, helps to secure central venous lines, reducing the chance of line fallout and subsequent re-insertions. We also offered business advice and support to their value proposition. Our support in regulatory approval and demonstrating the efficacy of the Tookie vest in oncology also contributed to the Tookie Vest being adapted for a number of clinical areas, including renal dialysis and respiratory.
- We helped Aseptika, a technology company, secure SBRI Healthcare funding in order to develop Asthma+me, a self-care solutions to help children with asthma. The AHSN is continuing to support the evaluation of Asthma+me at Sheffield Children’s Hospital.
- We have also launched the first digital accelerator programme in the region, Propel@YH. This programme provides tailored support and guidance to SMEs, developing digital health solutions, alongside having access to expert partners including NHS providers and commissioners, in order to gain accelerated market growth and increased market presence within Yorkshire and Humber.