As a follow up to my last blog post on IoT technology driving growth in the healthcare sector, The Manufacturer published a Siemen’s study showing digital transformation is a key focus for the UK and Irish biopharmaceutical sector; this will be important at the speed the UK market is growing. The UK market is estimated to surpass £12bn in 2022, with worldwide markets averaging a growth rate of 10% a per year.
The UK and Ireland remain the top spot for inward investment in Europe, and ranks number two globally behind the US. The UK market has grown its domestic industry with more than 56,00 companies, producing the strongest research and development in Europe.
Here are the key findings from the study:
With England’s £2bn Digital Health Plan investment as well, the UK healthcare and biopharma sector is getting a digital revamp. It remains impressive as the top spot for inward investment in Europe, but to remain its title, it needs to focus on its digital transformation
At Polestar, an important sector that we cover is health. If you would like more details in this space, or need help on growing your business, please reach out!