In This Issue...
30
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With hundreds of professionals in attendance, the event proved a good barometer on the state of the industry and it seems that the credit crunch has yet to hit this area, at least for the time being.
“From talking to those in the medical technology sector compared to those in industries such as automotive, it seems that the effects of the economic situation have remained at bay for the moment,” explains Andy Tierney, Regional Manager - Northern Operations. “It is business as usual for many companies but time will tell how long this will last.”
The market would appear to be holding up because most companies ultimately sell into the NHS and the government currently has no plans to reduce funding in this area. In addition, the NHS has less spending constraints than in recent years due to the current budget surplus.
But with the government currently ploughing funding into the stricken financial industry, this situation may not be sustainable, as Andy explains: “As with many industries, medical suppliers should make the most of any buoyancy in the market as there is a lot of trepidation about what the next couple of years might bring.”
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Credit Crunch yet to hit the Medical Technology Sector
On 21 October, Jonathan Lee Recruitment attended the Medical Innovation Forum, held in Harrogate, for the medical device and in vitro diagnostics industry.
