The Massachusetts Supercluster
Massachusetts is home to a biotechnology cluster that is second to none. Complementing its outstanding biopharmaceutical companies are 122 colleges and universities - over 40 of which offer advanced degrees in the life sciences, the top five National Institutes of Health-funded hospitals in the nation, and the highest educated workforce in the U.S. that offers unparalleled skills and productivity to employers.
The latest MassBio 2014 Industry Snapshot can be downloaded here: 2014 Industry Snapshot
There are more than 550 biotech and pharma companies located in Massachusetts (MassBio, 2011); 284 of these companies are drug development companies. (Evaluate Pharma, 2014)
As of July 2014, there were 1,384 drugs in development, from research project to pending approval stage, in Massachusetts. These figures do not include the substantial number of drugs being developed in Massachusetts by companies with headquarters outside of the state.
Pipeline by Therapeutic Area:
Funding & Capital
Massachusetts received $2.3 billion in National Institutes of Health funding for basic research in Fiscal Year 2013. Massachusetts researchers receive over 11% of all NIH research funds.
Massachusetts is home to Top 5 NIH-funded independent research hospitals (FY 2013)*:
1. Massachusetts General Hospital ($323,961,795)
2. Brigham and Women's Hospital ($315,919,592)
3. Children's Hospital ($126,812,298)
4. Beth Israel Deaconess ($118,785,811)
5. Dana Farber Cancer Institute ($115,844,948)
10. Boston Medical Center ($34,357,978)
12. Tufts Medical Center ($30,823,441)
*National Institutes of Health, 2014
On a per capita basis, Massachusetts receives over twice as much NIH funding (FY 2012) as the next closest state.
Massachusetts biotechnology companies received $984 million in Venture Capital financings in 2013.
Source Data: 2013 PricewaterhouseCoopers, National Venture Capital Association, MoneyTreeTM Report, Historical Trend Data.
Massachusetts biotech companies received 21% of all U.S. venture capital for biotech in 2013.
Massachusetts has the highest educated workforce in the United States. It ranks 1st in the nation in percentage of residents with a bachelors degree or higher. Its elementary and secondary students perform best in the nation on national assessments.
There are 57,642 biopharma employees in Massachusetts (2013) and the companies employing those workers are responsible for over $7.2 million of in-state payroll.
The Massachusetts biopharma industry grew by 41% between between 2004 and 2013.
From the Laboratory to the Factory
Long known as a center for research and development in biotechnology, Massachusetts can count a growing number of manufacturing assets in Massachusetts because of a workforce highly skilled in biologics process development. In addition to a number of contract manufacturers, Massachusetts is also home to commercial manufacturing for Genzyme, Biogen-Idec, AbbVie, Shire, and Pfizer.
Watch MassBio's Peter Abair discuss growth in the cluster with US Building Digest
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For more information, please email Peter Abair or call (617) 674-5130.