UK MedTech Industry RTIC
Real-Time Industrial Classifications

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

Key information you should know about the MedTech sector from our AI-driven platform of over 5 million companies:

  • MedTech has turnover of £35.6bn, meaning it is our 21st largest RTIC, and our 23rd fastest growing sector.
  • The MedTech sector has not received additional investor attention in recent years and the amount of venture capital funding is not increasing as fast as our other emerging economy sectors.
1,485
COMPANIES CONSIDERED
£39,014,026,538
TOTAL TURNOVER
323,201
TOTAL EMPLOYEES
£3,466,030,000
TOTAL INVESTMENT FUNDING
£147,535,307
TOTAL INNOVATE UK GRANT FUNDING
3.5%
AVERAGE COMPANY GROWTH PER YEAR

MedTech verticals

Our MedTech RTIC is made up of 7 individual industry verticals, including verticals such as Advanced Materials, Artificial Intelligence, Imaging. You can find out more about the verticals by buying a report, visualising the sector on our platform, or by downloading the data.

  • Sector Code Description Records
  • RTIC0058 MedTech 1485 companies

    Companies developing or deploying medical devices and medical technologies.

    • MedTech: Advanced Materials

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

      156 companies
    • MedTech: Artificial Intelligence

      Companies applying artificial intelligent products to medical devices

      508 companies
    • MedTech: Imaging

      Companies developing new imaging medical devices

      220 companies
    • MedTech: Monitoring Technologies

      Companies producing technologies to enable telehealth and remote monitoring

      236 companies
    • MedTech: Photonics

      Companies applying photonics technology to the development of medical devices

      272 companies
    • MedTech: Robotics

      Companies applying robotics and automation technologies to medical devices

      289 companies
    • MedTech: Extended Reality

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

      67 companies

MedTech industry growth

We estimate that the UK MedTech sector could be worth almost £41bn by 2027, based on the compound annual growth rate (CAGR) of 2.9%. Below you can see the five year turnover forecast for the RTIC from 2023 to 2027.

Get your free MedTech report

Dig deeper into the UK’s MedTech industry with our free 2022 RTIC report, which includes:

– Summary of RTIC data & industry performance
– Overview of key verticals
– Geographic analysis & breakdown
– Key insights & trends

Our innovative data

Real-Time Industrial Classifications (RTICs)

At The Data City we’re mapping the emerging economy through accurate and reliable real-time data. We’ve produced Real-Time Industrial Classifications (RTICs) for some of the UK’s fastest growing sectors, across over 350 industry verticals, including MedTech.

Discover more RTICs and access our other free reports today.

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