Science has had a massive impact on medical and health related industries and RTC North deals with clients across a host of healthcare related markets, is the contract holder of NHS Innovations North and the North East Quality Accelerator HIEC (Health Innovation & Education Cluster).
From simple medical equipment to sophisticated wireless devices for near patient testing and sports performance technologies, we have helped clients commercialise hundreds of new products for use in the UK and overseas.
While new drugs and treatments are a lifeline for many people around the world, medical research has uncovered conditions previously unknown. It’s a phenomenon that puts immense pressure on health services and economies around the world.
Consuming just under 10 percent of gross domestic product of most developed nations, healthcare forms an enormous part of a country's economy.
In 2003, healthcare costs paid to hospitals, physicians, nursing homes, diagnostic laboratories, pharmacies, medical device manufacturers and other components of the health care system, consumed 16.3 percent of the GDP of the United States, the largest of any country in the world.
For the United States, the health share of gross domestic product (GDP) is expected to hold steady in 2006 before resuming its historical upward trend, reaching 19.5 percent of GDP by 2016.
In 2001, for the OECD countries the average was 8.4 percent with the United States (13.9%), Switzerland (10.9%), and Germany (10.7%) being the top three.