This sector is not resistant to the pervasive impact of technology with artificial intelligence (AI), big data, 5G, robotics and the Internet of Things all set to play an increasing role in public and private healthcare provision.
Sector at a glance
240,000 - The number of people employed in the UK’s life science industry
- 99% - The accuracy of mammograms using AI
- over 320 - Healthcare M&A deals were completed in 2019 globally
From strength to strength
The UK is globally recognised as a leading player in Healthcare and Life Sciences, and its position as an innovative market player has only been further affirmed by the COVID-19 pandemic. Demonstrating the country’s expertise and ability, AstraZeneca and the University of Oxford are currently developing a potential vaccine, which, if successful, could have life-changing consequences.
The UK’s Life Sciences sector generates £70bn in turnover per year and is the largest biotech cluster outside the US. GlaxoSmithKline, one of the top 10 pharma companies in the world, is based in the UK, and the top 20 pharma companies all have a presence in the UK.
Innovation is key to healthcare and biomedicine, and the UK’s encouragement of R&D means it is at the forefront of new tech that will transform the future of healthcare and health solutions. Wearable tech, AI and machine learning, genomics and personalised medicine are all being developed by UK-based firms, showing that the industry continues to go from strength to strength.