The Massachusetts Biotechnology Council (MassBio®) just released its 2022 Industry Snapshot, which shows significant growth across the life sciences industry in 2021 in both workforce and real estate and reveals resilience in the face of some notable headwinds.
2022 Industry Snapshot Highlights:
- In 2021, biopharma employment in Massachusetts grew by 13.2 percent
- The life sciences industry employs 106,704 with an average annual wage of $201,549 for a total of $21.5 billion in total Massachusetts-based wages
- Massachusetts remains the top NIH-funded state per capita, with $3.3 billion constituting over 9 percent of all NIH funding
- Massachusetts biopharma companies have received 26 percent of all VC investment nationally
- The drug pipelines of MA headquartered companies make up 7.2 percent of the global pipeline and 15.6 percent of the US pipeline
- Life sciences real estate pipeline projections call for between 26m and 59m SF to be added to Massachusetts inventory by the end of 2025
Read the Press-Release!