Scotland’s life sciences sector is on track to meet £8bn target by 2025
On Monday 12th November the sector came together to discuss how Scotland can ‘Move Forward Together to 2025 and beyond ’at the annual Scotsman Life Science conference.
New figures published on Monday showed that turnover in the Life Sciences sector stood at £5.2 billion in 2016. This confirms the high growth of the life sciences sector since 2010, putting it on track to reach the strategy target of £8bn by 2025.
Mr McKee, Minister for Trade, Investment and Innovation said:
‘The strong growth in the sector is supported by a close collaboration between industry, academia and the public sector’. The Scotsman Life Sciences conference builton that support to capture new opportunities for Scotland whether that be in new technologies, data, manufacturing or clinical research.
This collaborative approach has secured new infrastructure for Scotland, most recently the Medicines Manufacturing Innovation Centre, the new Artificial Intelligence Research Centre for Digital Diagnostics (iCAIRD), and the opening of the Roslin Innovation Centre by the First Minister last week.’
The Scottish Government also welcomed the launch of the Scottish Health Research and Innovation Ecosystem by Life Sciences Scotland, the industry leadership group at the conference. This new toolkit, developed by Scottish Enterprise, supported by NHS Research Scotland, is a searchable database to simplify how businesses can identify and access NHS, clinical and academic facilities and organisations to work collaboratively.
Dave Tudor, VP, Head of Manufacturing Strategy, GSK and Co-Chair Life Sciences Scotland Industry Leadership Group said:
‘The Industry Leadership Group welcomes the strong sector turnover figures published today. It confirms the great progress we are making and that our strategy is beginning to deliver, but we still have a lot of work to do.
I am really excited about today’s conference, which is all about the next steps to us strengthening momentum in Scottish life sciences through raising our ambition, deepening collaboration and realising opportunities from global trends, such as Industry 4.0.
In this regard, I am delighted to see the launch of the Scottish Health Research and Innovation Ecosystem and I would encourage everyone to take a look at this very interactive and helpful online toolkit.’
Linda Hanna, MD Scottish Economic Development, Scottish Enterprise said:
‘These statistics illustrate the dynamism of the life sciences sector in Scotland, which is currently responsible for almost a quarter of Scotland’s business expenditure on R&D (BERD). To ensure that this sector continues to flourish in Scotland, we are helping businesses to accelerate their growth by investing in innovation and international expansion, and we will continue to work with partners to provide a supportive and connected business environment to accommodate future investment.’