Fifteen Scottish companies are showcasing their products this week at Medica reflecting the high level of innovation arising within Scotland’s medtech sector.
Scotland’s excellence in the life sciences is world renowned (think of Dolly the Sheep) and the country has one of Europe’s largest life sciences communities with more than 32,500 people working in more than 640 organizations. Perhaps less well known is that medical technologies (medtech) are the beating heart of the life sciences industry in Scotland. More than 140 companies employing over 6,000 people develop, design and manufacture medical technology products and services – that’s 40% of the total life sciences business base. Collective turnover is just short of £1 billion contributing around a third of the total for the sector. Medtech in Scotland has been growing at twice the sector average (13% vs 6%) over the past 10 years, testament to the ability of Scottish companies to develop marketable products and services.
Scotland has one of the most comprehensive national life sciences strategy in the world, endorsed by the whole community; industry, academia, NHS clinicians and government. We have the ambitious goal of doubling the economic contribution made by Scotland’s life sciences business by 2020 and a well-performing medtech sector will be vital to this. One of Scotland’s economic development agencies, Scottish Enterprise, is working on a set of strategic measures to support and expand the country’s medtech sector. One of the planned actions, for example, is to launch a themed call for innovations from universities to stimulate the development of new products and spin-out companies. This is going to be the first Scottish medtech strategy and demonstrates the strategic importance of this sector for Scotland.
With an innovative and successful business base, globally recognized research across the disciplines of particular importance to medtech, and state-of-the-art incubator and industrial facilities, Scotland offers an attractive base for medtech businesses and a gateway to Europe.
Come and visit us at the Scottish Pavilion (Hall 06 D26-D30)