Scottish Life Sciences Strategy 2011
Scotland hosts the UK's second largest life sciences cluster and one of the most sizeable in Europe. The Scottish Life Sciences Strategy 2011: Creating Wealth, Promoting Health, outlines the Life Sciences Advisory Board's (LiSAB) mission to double the size of the sector in Scotland by 2020.
LiSAB aims to:
- Double turnover within the sector from £3.1 billion to £6.2 billion by 2020
- Double the sector’s contribution to the Scottish economy from £1.5 billion to £3 billion Gross Value-Added
Three strategic areas of focus are highlighted to achieve these aims, by:
- Anchoring those businesses in Scotland that provide vital skills and market access
- Building more resilient companies and comprehensive supply chains
- Attracting new inward investment and talent that will build on Scotland’s existing capabilities
The strategy aims to build on Scotland’s existing strengths, particularly in key business areas such as medical technologies and pharmaceutical services where there is already a substantial local company base, ranging from innovative start-ups to global multinationals.
It also aims to capitalise on prior investment in Scotland’s research excellence, particularly in areas such as stem cells and regenerative medicine and clinical/translational medicine, where there are significant current and emerging commercial opportunities.
LiSAB has also identified a number of exciting new opportunities for Scotland arising from global economic and health trends, which could deliver significant economic impact in the future. These include areas such as assisted living, stratified medicine, wellness and sustainability.
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