Relationship Between EU Membership & UK Medical Device Innovation

Thirty-eight million people contact a medical device every day in the UK. The UK has over 3000 companies employing 76 000 people in medical technology. Currently valued at £17 billion and growing at rates exceeding 6%, the UK has remained a leader in medical device innovation. Governed under the European Union (EU) Medical Device legislations, it is demonstrated that this model, and the UK's continued membership accounts to an optimal balance between safety and risk with early access to new innovation. Leaving the EU would have a detrimental effect on UK businesses where EU legislation is used for market access. With the cost of regulation increasing, and the cost of products being forced to decrease, many UK businesses will no longer find it viable to innovate and manufacture within the UK.