COMPANY employment in Scotland’s life sciences sector has increased by 20 per cent in the space of seven years, with turnover rising by 90% over the same period, the latest industry figures show.
The sector’s annual output, on the gross value-added measure, meanwhile rose by 48% to £2.42 billion over the seven years to 2017, the latest year for which figures are available.
In terms of company staffing, the latest figures show total employment of 28,400 across 678 enterprises operating in Scotland’s life sciences sector, which have collective turnover of £6.45bn. The number of companies has increased by 19% over the seven-year period.
When separate data for the higher education institutions and other research institutions are included, the figures show total employment of 41,100 in Scotland’s life sciences sector, across 774 organisations.
Dave Tudor, co-chair of the Life Sciences Scotland Industry Leadership Group (LSSILG), said the figures “confirm the sustained high growth of the life sciences sector since 2010”.
He added that, if this growth were maintained, “we can be confident of exceeding our target for reaching £8 billion [of annual turnover] by 2025”.
LSSILG is a collaboration between industry, enterprise agencies and government strategy teams.
Mr Tudor said there were several emerging life sciences sub-sectors, including digital health and care, and aquaculture, animal health and agritech, “which are all contributing to this powerful rate of growth”.
He added: “We also know there is huge commercial ambition, particularly among the small to medium enterprises, that is a key driver for this accelerated growth rate.”
Linda Hanna, managing director at Scottish Enterprise, said: “Scotland has a strong and proud life sciences heritage with multiple medical breakthroughs originating both within its universities and the private sector.”
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