The government’s commitment to increasing the R&D budget to £39.8 billion – the largest ever – has been welcomed by BIVDA.
As the UK’s most representative association for in vitro diagnostic (IVD) technology and innovation, BIVDA acknowledges that this investment will provide the industry with vital funds to be able to pioneer cutting-edge research and technologies, which will boost the nation’s economy and health outcomes.
The IVD industry remains a critical cog in the effort to minimise care backlogs and, with targeted investment, will save countless lives and prevent numerous diseases through innovative diagnostic technologies. The ring-fencing of the Horizon Europe budget will hopefully ensure that the UK will remain well-connected to European and international partners no matter what agreement is reached with the EU.
BIVDA has called for the government’s ambitions to be provided with appropriate funding and industry input, so that the UK can build on the Life Sciences Vision, the Innovation Strategy, and ultimately cement the UK’s positioning as a global science superpower.
BIVDA Chief Executive, Doris-Ann Williams MBE, said: “This new spending allocation will help to address the issue of the UK falling behind on R&D spending in comparison with other nations. There are great opportunities for product development and innovative technologies in the IVD sector, and BIVDA member companies call for the best possible coordination of diagnostic funding activity across the various UK government organisations to facilitate these advancements.”