The latest UK and Global Healthcare Market report from Health Contracts International (HCI) is now available, providing suppliers with an insight into the trends and opportunities expected to be seen in 2022 and beyond, both in the UK healthcare sector and overseas. Here is a quick breakdown of the main points covered in more depth in the report:
- The current UK health market
The recent Government spending review provided a few clues regarding the areas in UK healthcare that are likely to see increased public investment in light of the COVID pandemic, and with it the opportunities that could be on offer for suppliers.
- Social Care
The UK Government has announced significant reforms to social care in England, which will not only see changes regarding how much patients pay for care but will also change the way adult social care is managed and promote greater patient choice, potentially providing more opportunities for suppliers.
- Early engagement with buyers
Recent surveys conducted by Cadence Marketing on behalf of HCI show that early engagement with buyers is key for suppliers if they are to improve their chances of winning contracts and will be crucial to helping firms stand out from the inevitable competition.
- Distribution of global healthcare spending
Overall global healthcare spending is on the rise according to the most recent WHO figures, but the difference in spending between the richest and poorest countries remains vast. Domestic public spending ‒ which is where most opportunities will lie for suppliers ‒ accounts for 59% of all global healthcare spending.
- Benefits of accessing global contracts
As healthcare is a universal and ever-present need, there will always be opportunities for suppliers. Accessing global contracts can lead to increased profits, business expansion and the safeguarding of jobs in the UK, but there will be challenges to overcome when working overseas.
- Organisations that can help with global contracts
Given the complexities involved in supplying overseas, those looking to supply abroad for the first time are likely to need support to help them negotiate the process. The Department for International Trade, Exporting is Great and Open to Export are among the organisations that can help.
- Practices, rules, and things to look out for
Procurement is an area where countries and regions behave in very different ways, making it important for suppliers to familiarise themselves with the procurement rules in the country or of the organisation so that they do not ruin their chances of winning a tender through a procedural error.
Health Contracts International (HCI) is an innovative new business intelligence service for the UK and global healthcare market. HCI hosts a powerful database of live healthcare tenders, actionable insights on emerging opportunities, buyer/supplier/industry award analysis and specialist industry news, whilst also drawing on artificial intelligence and machine learning to hone each user’s experience of the portal.
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