California Life science industry is out shadowing the nearest competitors - Massachusetts and New York by a big margin. The 3040 life science companies brought in revenues of $147.7 billion (2015), directly employing over 287,000, while building an eco-system of nearly 800,000 consultants, marketers, and software developers.
California Life science industry is out shadowing the nearest competitors - Massachusetts and New York by a big margin. The 3040 life science companies brought in revenues of $147.7 billion (2015), directly employing over 287,000, while building an eco-system of nearly 800,000 consultants, marketers, and software developers.
The spurt in growth can be attributed to VC funding, with life sciences second only to technology, bringing in $4.5 Billion in 2016, while nearest rival - Massachusetts could only attract $2.7 Billion.
Education is one of the big drivers of government funding into research. California is #1 in Life Science education, contributed by 11 top universities in the Top 100 universities in the world. The State graduates the most number of Science & Engineering PhDs. The supply of some of the best minds in the world attracted over 7000 National Institutes of Health (NIH) grants that totaled $3.6 billion.
The entrepreneurs, government agencies and the regulators work in tandem to bring the products to market with the chunk of the therapies dedicated to Cancer (404), followed by Infectious Diseases including HIV(129), and Central Nervous System disorders(129) completing the bulk of the innovation. Another emerging sector is the Digital Healthcare sector with Wearables and Bio sensing attracting the most investment ($380 million).
Digital Healthcare – Top Investments
Reference: California Life Sciences Industry 2017 Report
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