Medtech health in Wales
Develop and commercialise new medical and healthcare technologies that will improve the quality of life for people around the world
The Welsh MedTech sector presents companies with specific commercial opportunities to collaborate, develop and commercialise new and disruptive medical and healthcare technologies across categories such as neuroscience, neurodegeneration, dementia, cancer, wound care and tissue regeneration.
Foreign direct investment
Sector and market opportunity
With 1 in 6 people expected to be aged 65 or over by 2050, there’s a significant opportunity to develop technologies that will help the early detection of life-limiting illnesses and monitoring of diseases.
Investors in the Welsh medtech sector can exploit unique, secure anonymised health data for the whole population of Wales. This can be used to provide next generation medical and health care technology, digital medtech, diagnostics and human interaction medtech.
Organisations offering expertise across a range of high-priority conditions include:
- Cardiff University’s Brain Research Imaging Centre (CUBRIC)
- Wales Cancer Research Centre
- Welsh Wound Innovation Centre
- Centre for Ageing and Dementia Research
The demand for e-Health solutions is set to increase, courtesy of an ageing global demographic and the move towards personalised, efficient healthcare. Having reached £298 billion in 2017, the global medtech market is predicted to hit £466 billion by 2027.
Investors in Wales can collaborate with leading researchers and access opportunities for:
- new product development
- scaling up and manufacturing of reliable, easy-to-use healthcare technology for a growing global population
Wales offers investors the chance to establish a strong competitive advantage in medtech, diagnostics, wound healing, regenerative medicine and cell therapy. It’s also creating a world-class regenerative medicine ecosystem.
The region is home to 4 leading life science research organisations, 13 training institutions and universities, plus an established network of enterprise zones and science parks.
These will be supported by the development of science parks such as:
- Cardiff Edge, Cwmbran Medi Park, the Swansea Bay Life Science
- the well-being and sports campuses project
- the Pentre Awel life sciences and wellness village
Direct train services means that London Paddington is only a 1 hour 45-minute train journey from Cardiff, Swansea and Newport.
National and international flights are available from Cardiff Airport, while London Heathrow Airport and London Gatwick Airport are both less than 3 hours from Wales by car, coach or train.
The region benefits from having access to ports providing freight options, ferry routes and business links to Ireland’s medtech hubs. There are several daily ferry crossings from Ireland to Wales.
Local talent and skills
Wales has over 45,000 digital economy employees and 12,000 in employment at bioscience related companies.
The region has around 59,000 students and over 18,000 graduates with degrees in medtech-related subjects.
The range of bespoke programmes and apprenticeships train future innovators for the workplace, alongside the delivery of academic courses provided by regional universities such as Cardiff University, Swansea University and Bangor University.
Wales has a talented workforce and strong research and development facilities. It’s producing technology for the future in advanced manufacturing, life sciences, clean tech and digital sectors. More than 1,300 foreign-owned companies are operating in Wales, including Toyota, GE, Sony and Airbus.
Research and expertise
Investors can capitalise on state-of-the-art research laboratories and dedicated business incubation facilities, such as:
- OpTIC Technology centre
- Aberystwyth Innovation and Enterprise Campus
- Institute of Life Science (ILS) at Swansea University
- Bangor University’s M-SParc
- Cardiff University Innovation Campus
- Cardiff Medicentre
The region also offers investors links with institutions dedicated to enabling the transfer of technology from research to industrial applications, such as the Life Sciences Hub Wales’ Accelerate Programme, Health Technology Wales and Digital Health Ecosystem Wales.
Local and national government support
The UK is investing heavily in medtech, meaning your company can capitalise on the funding pouring into the sector. The Life Sciences Vision aims to tackle future disease challenges including dementia and ageing.
There are significant plans to further grow the medtech cluster and infrastructure in Wales with investments in the Cardiff Capital Region City and Swansea Bay City Region.
Locally, community networks, incubator space and specialist advice are all available from the Trade and Invest Wales, Life Sciences Hub Wales, Business Wales and Health and Care Research Wales.
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