Boosting Scots' share of £170bn 'medtech' market

A VENTURE to help Scottish firms tap into the £170 billion global medical technologies market was revealed yesterday at the University of Strathclyde.

The Strathclyde MedTech programme, which will be hosted by the university's Institute of Medical Devices, aims to provide indigenous companies with the funding and support needed to navigate the regulatory and technical hurdles of bringing new medical devices to market.

It has received nearly 700,000 in government funding - 376,000 from the Scottish Government's Seekit fund, and some 308,000 from the European Regional Development Fund.

Professor Trish Connolly, director of the Strathclyde Institute of Medical Devices, said the programme would "lower the barrier" for firms competing in the globally expanding market which is set to almost double in size over the next five years.

She said: "Scottish companies have a long history of success in engineering new technologies, and they are ideally placed to pioneer the next generation of healthcare devices needed by patients around the globe. But the medical technologies of the future can only be created through a fusion of engineering, science and medicine.

"Strathclyde MedTech will lower the barrier to innovation in the medical technology sector, by providing companies with the support and advice needed to navigate complex regulatory and technical issues."

Connolly added: "We will be looking to work with both companies already involved in medical device development, and those in other sectors, including electronics, textiles, healthcare and even automotive component companies.

"With an ageing population and increasing demands on the NHS for new and better treatments, there is an urgent need for innovative medical devices to improve patient care."

The medical technology market is estimated to be worth between 150bn and 170bn worldwide, although this is set to soar to some 300bn by 2015.

The main aim of Strathclyde MedTech will be to provide companies with advice and support, as well as encouraging collaboration with the university and other firms.

A small amount of funding will be available to help firms work with the university through consultancy or research projects, including feasibility studies and testing for technologies in areas including diagnostics, cardiovascular devices, rehabilitation and assisted living, drug delivery, biomaterials and tissue engineering.

The university has a "strong track record" in the development of medical devices, with more than 80 scientists and engineers collaborating with as many as 50 clinicians.

Its approach has produced a wide range of technologies, including a portable life support system for babies and adults, and an award-winning wound monitoring device with the potential to save health services millions of pounds.

Alan Lindsay, industrial interface manager at the Strathclyde Institute of Medical Devices, said yesterday's announcement reflected "the university's commitment to working with industry to challenge traditional academic boundaries and find solutions to global problems".

He added: "Strathclyde MedTech will focus additional resource on stimulating Scottish technology SMEs to expand their portfolios and ultimately, have a positive impact on patient health and the wider economy."

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