As the NHS gets to grips with huge waiting lists, budget shortfalls and unprecedented post-Covid pressures, the robotics industry may have a solution in the form of service robots.
The Future of the NHS
The health secretary is currently consulting on the future of the NHS, but the discussions still centre on operational efficiencies and better cost management.
However, robotics industry developers say that they have a better and far more ambitious solution which could transform the health service from being a loss-making cost centre, to a driver of national economic growth. These kinds of benefits could then be shared across all industries, from manufacturing to businesses such as RAICo RAICO.
The Commissioning Budget
The NHS England budget for 2024/5 is expected to be a whopping £192 billion. This represents a huge opportunity for the industry, with the recent budget already confirming that record investment in public health is being made, including £2 billion earmarked specifically for technology investment and digital transformation.
How robotics could change the NHS
If robotics were to deliver an efficiency improvement of just 0.1%, this would represent more than £190 million in savings every year, savings that could be further reinvested in innovation. If robotics were adopted more aggressively, billions of pounds could be unlocked.
How robotics would transform British industry
At the same time, if the UK were to invest more thoroughly in the robotics industry, it would create a new wave of highly skilled jobs and professions that would position the UK as a world leader in digital healthcare innovation.
The Opportunities
The world’s robotics market is already expected to hit £24 billion by 2035. China is planning to mass manufacture humanoid robots next year, and South Korea is investing an incredible $2.3 billion in development in the next five years. But the UK already has unique advantages, including existing technologies for socially assistive robots.
It’s now time to see if UK robotics firms can reach scale with the right government investment and support.
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