Healthcare spend is rising as populations increase and age
Healthcare providers will provide for an increasing burden of disease as the global population grows and ages. In 2008, OECD countries spent over $4.6tr on healthcare, and for many countries, this has been increasing as a proportion of gross domestic product. UK medicines and healthcare industries are in a strong international position both industrially and scientifically to generate significant revenues from these increasing demands.
A growing, ageing population and an increasing burden of disease also present healthcare providers with challenges.
Medicines and healthcare technology innovation must be carried out within a regulatory environment designed to protect patients. The development timelines are therefore longer than for some other technology sectors and the risks and costs can deter investment in innovative solutions. The conservative nature of patient care can limit the adoption of new technologies as can the fragmented nature of procurement.
The pace of technology innovation is outstripping the ability of users to adapt the way healthcare is delivered. We must also ensure innovators are working towards users’ needs and think about how adoption of technology will require changes in patient care pathways, or the way services are accessed.
There are opportunities for companies wishing to meet the challenge of more efficient and effective healthcare in the following areas:
Highly-effective treatments that are tailored to patients’ needs and either modify the underlying disease or offer potential cures.
> Our priorities
There is significant potential for government support through the Technology Strategy Board to leverage our world-class science and technology base and our major global presence in the biopharmaceutical and health technology sectors by stimulating the development of new technologies and consequent products and services.
Our programme takes into account technological development as well as service implementation and integration by working closely with the Department of Health and devolved Health Directorates, to identify key ‘economic’ challenges in delivering healthcare. We enable technology developers to deliver to these challenges not just for the UK but also the global market.
>>> We deliver focused and cohesive programmes in:
> Assisted Living – helping businesses to deliver technological and service innovation to support independent living for a growing ageing population. This includes dallas – the Delivering Assisted Living Lifestyles at Scale programme.
> Detection and Identification of Infectious Agents – enabling companies to address the need to reduce mortality, morbidity and economic burden of infectious diseases.
> Cell therapy Catapult – Cell-based therapies will play a vital role in the next generation of healthcare. They have numerous uses, such as regenerating tissues, drug delivery mechanisms, and modulating the immune system to treat diseases.
> Biomedical Catalyst programme – working with the Medical Research Council, we will deliver some £180m to support translational activities bridging academic and commercial activities in therapeutic development, medical devices, diagnostics and e-health/m-health solutions.
> Regenerative Medicine and Cell Therapy – helping UK businesses to take advantage of the next generation of treatments to deliver long-term relief or cures for diseases.