Scotland Life Sciences Sector Wants To Grow
Date posted:
News
Life sciences are booming in the UK, and though there are some concerns about Brexit there is plenty that could be done to ensure that the boom continues.
Growing revenue and investing more in research should be top priorities for Scotland’s life sciences sector a new survey has shown.
Despite the doom and gloom over Brexit, 24 per cent of respondents to the Life Sciences Scotland survey said that scaling up sales was their main target. Over 40 per cent of respondents said they would need extra people to help them grow their products, meaning there could be a growth in jobs if these plans come to fruition.
Scottish life sciences sector is made up of about 700 organisations, employs 40,000 people and has a £4.2 billion of turnover.
Life Sciences Scotland told The Times: “This is a crucial time as we work towards our target of achieving a turnover of £8 billion by 2025. We want companies to thrive and have the correct support in order to scale businesses and increase growth. We can only do this by keeping the industry connected and listening to the priorities of companies up and down the country.”
A large chunk of the Scottish Life Sciences sector is made up of the pharmaceutical industry and drug testing, with much of the research coming out of or lead by the universities. There are some fears that this industry could be significantly reduced following Brexit as the MHRA, which was previously based in London, will now move, and with it a lot of the industry.
If you need assistance with life science marketing, contact us today.