Richard Cullum of R&T Consultants explains how companies involved in medical technology can make research and development pay off
Unlike many industries that have experienced tough times during the economic downturn, the medical technology market has seen a consistent growth during the recession. In fact, the industry is now estimated to be worth up to £170bn worldwide – and around £15bn in the UK alone.
Furthermore, growth of around 10% per annum has been forecast for the next five years as demand for medical and laboratory equipment continues to increase. The rise in our ageing global population and increases in general healthcare expenditure across developed countries are believed to be significant factors in this growth…
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Richard Cullum is the Managing Partner of R&T Consultants who advise UK businesses across a range of industries on research and development tax credits. R&T has a 100% success record submitting R&D claims to HMRC since 2001.