ABPI responds to Bioscience and health technology sector statistics 2021

The Office for Life Sciences today published economic data on Bioscience and health technology sector statistics 2021, which show stable levels of sector employment, and sharp growth in sector turnover.

Commenting on the data, Richard Torbett, Chief Executive at the ABPI said:

“This data shows that despite broader economic headwinds, the UK’s life science sector continues to provide hundreds of thousands of high-value, high-quality jobs. The industry has also risen to the challenges posed by the pandemic, with the upswing in turnover generated by new medical innovations coming onstream to support the health service.

“While there is much positive news to take away from this data, we cannot afford to be complacent. Other warning signs can be seen across the sector, such as the rapid fall in UK industry trials, the commercial challenges posed by rapidly increasing VPAS rates, and growing competition from other countries seeking to grow their own life sciences industries.

“Ultimately, we need to see progress in these areas and seek to become more internationally competitive if we want to see UK life Sciences continue to underpin the health and wealth of the UK.”