UK MedTech Industry RTIC
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UK MedTech Industry

Understand the UK’s emerging MedTech industry and the companies shaping the future of healthcare and pharma with our unbeatable real-time sector data and trends.

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What is MedTech?

MedTech or Medical Technology is a term used to describe the development and deployment of medical devices, products, services and solutions within the healthcare system.

MedTech is a broad and growing industry, with innovative technology being developed across a wide range of applications such as treatment, diagnosis and care. Today MedTech companies and start-ups are working to help save and improve people’s live through new methods and technologies, with the UK investing more in artificial intelligence (AI), robotics, extended reality (XR) and photonics.

MedTech sector summary

Discover real-time data and insights sourced directly from The Data City platform, driven by our innovative Real-Time Industrial Classifications (RTICs). Our RTICs harness the power of web data and machine learning, and are published with industry experts for precision and relevance.

Here are the key facts about the MedTech sector. The sector has a turnover of £27.1bn currently, has received £3.5bn of investment and the sector is growing at 10.2% per year.

1,489
COMPANIES CONSIDERED
£27.1bn
TOTAL TURNOVER
101,362
TOTAL EMPLOYEES
£3.5bn
TOTAL INVESTMENT FUNDING
£362.6m
TOTAL INNOVATE UK GRANT FUNDING
10.2%
AVERAGE COMPANY GROWTH PER YEAR

MedTech verticals

Our industry data goes deep. See the top verticals and specialisms making waves in the UK MedTech industry today.

Our MedTech RTIC is made up of 7 individual verticals. The top verticals in this sector include Artificial Intelligence, and Imaging. You can find out more about the verticals by downloading our RTIC report, or by signing up for a free trial of The Data City platform.

  • Sector Code Description Records
  • RTIC0058 MedTech 1454 companies

    Companies developing or deploying medical devices and medical technologies.

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    • MedTech: Advanced Materials

      Companies providing and/or using advanced materials in the development of new medical devices

      175 companies
    • MedTech: Artificial Intelligence

      Companies applying artificial intelligent products to medical devices

      540 companies
    • MedTech: Extended Reality

      Companies using virtual reality, augmented reality and/or mixed reality as aid in medical environments

      48 companies
    • MedTech: Imaging

      Companies developing new imaging medical devices

      284 companies
    • MedTech: Monitoring Technologies

      Companies producing technologies to enable telehealth and remote monitoring

      139 companies
    • MedTech: Photonics

      Companies applying photonics technology to the development of medical devices

      196 companies
    • MedTech: Robotics

      Companies applying robotics and automation technologies to medical devices

      183 companies

MedTech industry growth

Based on a growth rate of 10.2%, we expect that this sector could be worth £30.7bn by 2024. Below you can see our forecast of the growth of the sector.

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