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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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.
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 Materials156 companies
Companies providing and/or using advanced materials in the development of new medical devices
- MedTech: Artificial Intelligence508 companies
Companies applying artificial intelligent products to medical devices
- MedTech: Imaging220 companies
Companies developing new imaging medical devices
- MedTech: Monitoring Technologies236 companies
Companies producing technologies to enable telehealth and remote monitoring
- MedTech: Photonics272 companies
Companies applying photonics technology to the development of medical devices
- MedTech: Robotics289 companies
Companies applying robotics and automation technologies to medical devices
- MedTech: Extended Reality67 companies
Companies using virtual reality, augmented reality and/or mixed reality as aid in medical environments
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
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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