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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.

“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. Richard Torbett, Chief Executive, ABPI

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.”

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The ABPI exists to make the UK the best place in the world to research, develop and use new medicines. We represent companies of all sizes who invest in discovering the medicines of the future. 

Our members supply cutting edge treatments that improve and save the lives of millions of people. We work in partnership with Government and the NHS so patients can get new treatments faster and the NHS can plan how much it spends on medicines. Every day, we partner with organisations in the life sciences community and beyond to transform lives across the UK.