Patient Impacts

Biotechnology is delivering for patients around the world:

  • More than 7.6 billion people treated by a biotechnology drug in 2024
  • Massachusetts makes up 15.1% of the U.S. drug development pipeline…
  • …and 6.4% of the global pipeline
  • There are 5,500 active clinical trials in Massachusetts
  • In 2024, 23 companies with Massachusetts ties received FDA approvals

Economic Growth

The life sciences have delivered outsized impact to Massachusetts:

  • $35 billion 2022 GDP contribution
  • 117,000 biopharma jobs in 2023
  • 31% of all VC dollars invested in the US biopharma industry came to Massachusetts
  • Fourteen Massachusetts cities/towns had at least 1% of VC dollars

This is the place.

This is the place where innovation thrives.

Where passion and expertise fuel progress.

This is the place where pioneering research institutions spark new ideas and ignite new companies eager to embark on once-in-a-lifetime moonshots to redefine what’s possible.

This is the place MassBio calls home.

Where every day, our members inspire solutions, create jobs and bolster the economy — all while placing patients at the center of their mission.

This is the place where clinical breakthroughs are happening just around the corner and transformative treatments are being manufactured across the state directly benefitting patients at our world-renowned hospitals and around the globe.

This is the place for bravery, vision and leadership.

Where companies can secure the capital needed to move forward.

Where we advocate for policies that empower these crucial hubs of discovery.

This is the place where some ideas will flourish, while many will fail, but our resolve to persevere never wavers.

Please join us in championing a brighter, healthier future, because this is the place for tomorrow’s medical breakthroughs.

Let’s make sure it stays that way.

Watch:

This is the place.

This is the place. Pioneers of Biotech

Learn:

man looking in science tool

Vision 2030

MassBio’s five-year strategic plan—Vision 2030—is a framework outlining a series of ambitious goals to further Massachusetts’ status as the world’s premier life sciences hub. The roadmap is centered across four catalysts: Early-Stage, Funding, Talent, and Social Impact.

Industry Snapshot Graphic 2024

2024 Industry Snapshot

We are pleased to share with you the 2024 MassBio Industry Snapshot. This annual report tracks the Massachusetts life sciences industry’s growth, including employment, industry investment, drug development pipeline, real estate, and regionalization metrics.

man looking in science tool

2024 Biopharma Funding & Pipeline Report

The 2024 Biopharma Funding & Pipeline Report includes full-year data on venture capital investment, IPOs, and mergers & acquisitions, as well as drug pipeline statistics and FDA approvals.