Medical biotechnology sector grows despite economic downturn

The BioIndustry Association has welcomed the publication of the latest government statistics highlighting the growth of the UK’s innovative bioscience sector. The 2010 Strength and Opportunity commentary of the UK Bioscience and Health Technology database has been published by the Department for Business, Innovation and Skills (BIS), UK Trade and Investment (UKTI) and the Department of Health (DH). The Update shows that for medical biotechnology there are now 942 companies in the sector with 345 involved in the development, manufacture or sales of therapeutic products. Employment in the medical biotechnology sector grew 3% in the last year to 36,700 and turnover increased 18% to £5.5 billion.

Nigel Gaymond, Chief Executive of the BIA, said: “The data published today shows that the government is right to believe that life sciences, such as medical biotechnology, will contribute to the future growth of the economy as recognised in its recent growth review. The UK Bioscience and Health Technology database remains a vital tool in helping government to develop policies to support the future growth of the life sciences sector which will not only help to grow the economy but will also provide new treatments for patients.”