North's life sciences industry grows by £4.4bn in a year
New analysis of figures shows huge increase in Northern Powerhouse life sciences economy
9th July 2018
TODAY the Northern Health Science Alliance can reveal the North’s economy has grown by 48% and over four billion pounds in the last year.
A new analysis of figures from HMG’s Office of Life Sciences, Strength and Opportunity 2017: the landscape of the medical technology and biopharmaceutical sectors in the UK report, provided by BioNow, has demonstrated that the value of the North’s life sciences economy has grown from £9.2bn in 2016 to £13.6bn in 2017 – a rise of 48% over the last year. This growth rate is 4.8% higher than the national average.
The data also shows that the Northern Powerhouse is home to 21% of the total UK Life Science sector workforce, 19% of the UK biopharmaceutical sector workforce, 22% of the UK Medical Technology Sector workforce and a very significant 29% of the UK Digital Health workforce.
The number of companies in Life Sciences in the Northern Powerhouse has grown by 755 in the past year.
Dr Hakim Yadi, CEO of the Northern Health Science Alliance will be revealing the figures tomorrow at the third day of Northern Powerhouse Business Summit ‘Great Futures’ taking place in Newcastle as a part of the Great Exhibition of the North.
He will be speaking on the Government’s Industrial Strategy Grand Challenges in Ageing and Artificial Intelligence and the North’s expertise and potential in those areas.
Dr Yadi said: “The North’s Life Sciences Economy is booming as shown by this incredible growth that’s taken place over the past year.
“The North of England has a tremendous opportunity to make the most of its excellent universities, hospitals and booming life sciences industry to meet the challenges of an ageing population and to harness the power of AI for the benefit of the UK as a whole.
“The region has national centres in ageing, digital health, anti-microbial resistance, cancer research and health data. It is again pioneering treatments in and using these capabilities supported by business confidence of £1.6bn of planned investments.
“The creativity and tenacity that has characterised the North of the past continues to this day and will continue to do so well into the future.”
Minister of State at the Department for International Trade, Baroness Fairhead, said:
“The UK is a world leader in the life sciences sector, with our businesses, including from the region covered by Northern Health Science Alliance, at the forefront of innovation in healthcare, medical technology and biosciences.
“DIT will continue to support British businesses in the Life Sciences sector to sell to overseas markets through our wide-ranging support offer.
“This offer includes our award-winning export credit agency, UK Export Finance, which helps fund companies seeking to grow their sales overseas, Innovate UK, which funds businesses to develop their novel ideas and our specialist Life Sciences sector team who offer detailed market and business support.”
ENDS
MEDIA CONTACT
For more interviews, comment etc. contact Hannah.Davies@theNHSA.co.uk, 07342882383.
Links to original data
EDITORS NOTES
The NHSA ltd is a partnership established by the leading Universities and NHS Hospital Trusts in the North of England to improve the health and wealth of the region by creating an internationally recognised life science and healthcare system. It links eight universities and eight research-intensive NHS Teaching Trusts with four Academic Health Science Networks (AHSNs covering a population of over 15 million.
The NHSA’s members include: Newcastle University, Durham University, University of York, University of Liverpool, University of Manchester, Lancaster University, University of Sheffield, University of Leeds, The Newcastle Upon Tyne Hospitals NHS Trust, South Tees Hospitals NHS Trust, Leeds Teaching Hospitals, Sheffield Teaching Hospitals, Manchester University NHS Foundation Trust, The Royal Liverpool and Broadgreen University Hospitals, Hull and East Yorkshire Hospitals, Lancashire Teaching Hospitals, Innovation Agency AHSN, Yorkshire and Humber AHSN, North East North Cumbria AHSN, Greater Manchester AHSN.
For more information on the NHSA visit www.theNHSA.co.uk
Related News Articles
New alliance formed to tackle Health Inequalities in the North of England
LEADING health experts across the North have today joined together as a response to worsening health inequalities between the North and the rest of England showing over half of the North has a lower life expectancy than the worst area in the South.
Read the articleNHSA’s Shirley Hannan promoted to Head of Research Partnerships
Promotion for Shirley Hannan as she takes on the role of the NHSA's Head of Research Partnerships
Read the article#NorthInnovationWomen 2019 list honours over 300 health innovators
Northern Health Science Alliance announce this year's #NorthInnovationWomen list
Read the article