The life sciences industry in Scotland
Scotland is a major centre for the life sciences industry
Scotland has always been at the fore-front of medical discoveries – from anaesthesia and antiseptics, to MRI and Dolly the sheep. Today, Scotland is no exception and is home to innovative and dynamic product development.
Scotland hosts one of the most sizeable life sciences clusters in Europe, with a significant multinational presence in research and development and manufacturing. 20 new life science companies started trading in 2007, while the increasing numbers of corporate spin outs demonstrate the maturing of the sector in Scotland. Scottish excellence in life sciences is recognised across the globe – exemplified by its recognition by FierceBiotech as one of the global top five innovative regions for biotech.
Key facts:
- More than 600 life sciences organisations operate in Scotland.
- The sector employs over 30,500 staff.
- Life Sciences in Scotland has experienced annual GVA Growth Rates of 7-8 per cent - four times the medium term, average growth rate of the Scottish economy. (Source: Young Company Finance Report: Life Sciences in Scotland, May 2007)
- Life sciences companies in Scotland attract in excess of £400 million of research funding each year.
- Scotland has more than 50 academic research facilities offering services to the life sciences community.
- Global life sciences companies with a presence in Scotland include Wyeth, Invitrogen, Aptuit and Organon (Schering Plough).
- Scotland has a highly skilled workforce, with a large pool of graduates and post doctoral researchers in life sciences. Compared to EU and US locations, Scottish employers also enjoy competitive labour costs.
- Scotland has a highly developed network of specialist suppliers to the life science industry.
- Scotland has a number of science parks and dedicated life science parks around its major cities.