Scotland has unveiled a bold new plan to transform its Life Sciences sector into a £25 billion industry by 2035, positioning the nation as a global leader in innovation and health technology.
The Scottish Government’s refreshed Life Sciences Strategy sets out steps to build the infrastructure and skills needed while harnessing cutting-edge technologies such as Artificial Intelligence.
Kick-started with £1 million of government investment, the strategy will fund:
- Support for the Industry Leadership Group to drive delivery
- A pilot programme for Scottish SMEs to develop innovative products
- Investment in NHS Regional Innovation Hubs to link businesses with NHS opportunities
- A Financial Health Innovation Lab connecting life sciences with financial services
- A feasibility study into expanding laboratory space for start-ups and growing companies
Richard Lochhead, Scotland’s Business Minister, said:
“Life Sciences is a sector that spearheads economic growth, transforms health and care, and stimulates innovation across our economy.
“It is vital we support the sector’s continuing growth and unshakeable determination to succeed with a long-term plan to support the infrastructure, skills, and collaboration.
“The goal of this strategy is to make Scotland’s life science sector the best in the world for developing, testing, manufacturing and commercialising life sciences innovation to benefit the health and prosperity of the nation.”
The 10-year strategy will be followed by focused delivery plans to accelerate growth and ensure Scotland’s life sciences sector remains globally competitive.
Life sciences already contribute £10.5 billion in turnover to Scotland’s economy and support over 46,000 jobs. The sector spans human, animal, and plant sciences, including pharmaceuticals, health tech, agritech, animal health, aquaculture, industrial biotechnology, and bio-based manufacturing.
Image credit: iStock
