Event Round-up | Health Innovation Network Industry Briefing: Defining the Size of Health Innovation Prize report
Please access the presentation slides here
On 16 September 2025, techUK hosted the Health Innovation Network (HIN) for an industry briefing on their latest report, supported by Frontier Economics. Claire Portsmouth (Director of Communication & Engagement, HIN) introduced the Network’s role as England’s innovation adoption experts, commissioned by NHS England and the Office for Life Sciences. Since 2018, their programmes have benefited nearly 5 million patients, released over 340,000 hours of healthcare capacity, safeguarded 11,000 jobs, and delivered a £3.1 return on investment.
Nick Woolley (Frontier Economics) presented findings from the new report The Size of the Health Innovation Prize, which estimates that ill health costs the UK economy £246 billion annually, around 10% of GDP. Mental health alone accounts for 20% of this economic drag, primarily through unemployment and inactivity. The report highlights that even small improvements in innovation adoption could unlock significant value, with the total potential prize estimated at £278 billion.
Supporting analysis showed:
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NHS workforce impact: Ill health among NHS staff costs £8 billion annually, equivalent to 233 million lost care hours.
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Investment opportunity: Matching Germany or France’s attractiveness for foreign life sciences investment could add £32 billion to the UK economy and create over 150,000 jobs.
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Case studies: Scaling proven innovations such as cholesterol optimisation and AI-enabled stroke care could yield hundreds of millions in savings and improved outcomes.
Key reflections from the discussion included the importance of targeting cardiovascular, renal, metabolic diseases, and mental health for maximum impact, alongside enabling diagnostics and data-driven technologies. HIN encouraged innovators, including those not traditionally working in health—to approach their local network for support, underlining the opportunity to adapt ideas from other sectors into healthcare.