The 2024 Pulse of the Sector Survey conducted by Association of British HealthTech Industries (ABHI) and Centre for Process Innovation (CPI) highlights both challenges and opportunities in the UK Healthtech sector. Here are the key takeaways:

Challenges and Potential Mitigation 

1. Regulatory Uncertainty: Since Brexit, regulatory uncertainty has delayed innovations and negatively impacted patient access to new Healthtech. Investment has shifted towards markets like the US, which are seen as more attractive due to their supportive regulatory environments.
2. AI Implementation Barriers: Regulatory and compliance issues are major hurdles for AI solutions in healthcare. Standardizing data sharing agreements, data protection impact assessments, and digital technology assessment criteria could help mitigate these challenges.
3. Innovation Adoption: The UK lags behind the EU and US in adopting Healthtech innovations at scale. While some UK initiatives like Late-Stage Assessments have been criticised, there is optimism around the upcoming NHS Innovation and Adoption Strategy, which aims to provide clarity on real-world evidence.
4. NHS Net Zero Roadmap: Many Healthtech companies find the NHS Net Zero Roadmap challenging, with concerns about meeting the 2045 target without clearer guidance and support. More pragmatic policies are needed to help the sector reduce carbon emissions.
5. NHS Procurement System: The procurement system is seen as overly complex, with unworkable requirements that deter companies from bidding on tenders. Simplifying this process and providing targeted support for manufacturing could boost sector growth.

Opportunities

Despite these challenges, there are significant opportunities:

• Government Support: The new government emphasizes the sector’s potential for growth and innovation. Initiatives like International Recognition (IR) of product approvals from trusted jurisdictions could reduce costs and duplication, positioning the UK as a leader in global regulatory harmonization.
• Research-Friendly Environment: The UK is still viewed as a highly research-friendly market, capable of evaluating technologies for clinical and cost effectiveness. This positions the sector well to address the priorities of the UK’s health and care system.

These insights suggest a balanced outlook for the UK Healthtech sector, with clear areas for improvement and significant potential for growth. How do you see these findings impacting the future of Healthtech in the UK?