Wherever you sit in the medtech and life sciences supply chain, the outcome of the general election will affect you if you’re involved with the UK market.
While there are few perceived differences in the manifestos of the two major parties - a sticking point for many voters - healthcare is one market which could look very different, particularly if the UK enters into a new coalition government.
So what do the conservatives promise for medtech and life sciences if they remain in power?
Well, the main pledge here comes in the form of R&D investment, with £6.9 billion promised up to 2021. Additionally, they’re getting behind the ongoing drive to deal with the threat of antibiotic resistance, looking to push the recommendations from the O’Neill review.
"If we fail to act, we are looking at an almost unthinkable scenario where antibiotics no longer work and we are cast back into the dark ages of medicine.” – David Cameron
For Labour, the pledges seem largely focussed around patient care. For instance, training and recruitment are high on the agenda, as are reducing wait times for test results. For Life Sciences though, the most significant change under a Labour government would be the establishment of a Cancer Treatments Fund, opening up access to more modern technologies and treatments.
Current restrictions on some new treatments have sparked controversy in recent UK headlines.
“I know what makes the NHS strong: care, compassion and co-operation, not privatisation, fragmentation and competition.” - Ed Milliband
But what if there’s no majority, and the UK is facing another coalition government? What would the minority parties look to bring to any potential deal with David Cameron or Ed Milliband?
The Liberal Democrats are aiming to double spending on innovation and research, with a special emphasis on the catapult centres which have already seen emergence in the last five years.
While the Conservatives have concentrated on AMR, and Labour on cancer, the Lib-Dems have pledged a renewed focus on mental health treatments and support.
“One in four of us will experience mental health problems. And yet for decades health services have been neglected.” - Nick Clegg
UKIP, like Labour, are more interested in improving front-line patient care. However, one major item on the agenda for the UK’s life science sector would be to scrap the EU Clinical Trial Directive.
“[The Clinical Trials Directive] was intended to simplify and harmonise clinical trials across the EU, but has in fact decimated the number of clinical trials in Britain.” - Nigel Farage
The Green Party, who are noted in this election for widening their manifesto to include a broader range of policies, have pledged immediate increases in the NHS budget. Global epidemics including AIDS and TB would also be firmly on the agenda if the Greens found themselves in a coalition.
Meanwhile, the Scottish National Party has said it will work to foster innovation at an academic level, and Plaid Cymru will implement a National Cancer Plan. Strategically similar to Labour’s Cancer Treatments Fund, this would give patients enhanced access to new treatments. Digital health is also on the agenda for Plaid Cymru, who would push towards a paperless NHS.
Whatever the outcome of the election, the life science and medtech markets will, as ever, be called upon to make change.