San Francisco North Bay Life Sciences Revenues Total $ 18.5 Billion in 2020

0


Life science companies – which include drug makers like BioMarin Pharmaceutical of San Rafael and medical device companies like Medtronic of Santa Rosa – are part of Calfornia’s industry which directly employed around 490,000 people and generated in sales of $ 405 billion, according to a new report.

Prepared by Biocom California, the California trade association, the research also gave a unique insight into the industry’s influence in North Bay, as well as nearby San Francisco, showing where it has landed economically in 2020, as well as forecasting for 2022 and raising red flags on what will limit the industry, as well as all other businesses.

Industry subsectors include biotechnology, research and manufacturing, scientific and research tools, food and agricultural biotechnology, medical device manufacturing, and biopharmaceuticals. In 2020, the first three categories saw modest growth (5% to 1.2%), while the other three recorded losses of 4.2% to 2.1%.

California’s life sciences sector countered some of the negative economic forces of the year that damaged large parts of the state’s economy due to the COVID-19 pandemic. Job growth has been slow, but venture capital has surged.

In 2020, total real gross domestic product declined significantly, while the industry‘s main sources of funding, the National Institute of Health and the National Institute of Health, declined slightly.

A robust gain in the Nasdaq stock index coupled with significantly more expansive monetary policy in terms of lower federal funds target offset these negatives. The net result was a 0.5% gain in life sciences employment in the state, the group determined.

The report’s writers included information from areas of the state, including Alameda Bay area counties, Contra Costa, Marin, Napa, San Francisco, San Mateo, Santa Clara, Solano, and Sonoma.

Almost 179,000 people in the Bay Area were directly employed by life science companies in 2020. Average annual incomes exceeded $ 179,000. Research and manufacturing accounted for about 43% of direct employment in life sciences, followed by medical devices and equipment at 20%. Biotechnology represented 17%; biopharmaceuticals, 14%, research and scientific tools, 6%; and food and agriculture, 0.1%.

What type of bio and life science industries are found in Marin County? The report’s writers found, unsurprisingly, that in the home country of companies like BioMarin, 64% of companies in the industry were in the biopharmaceutical industry, while research and manufacturing accounted for 23% and devices and equipment. medical 8%.

Marin’s industry generated $ 7.7 billion in sales in 2020, according to the report, while Marin’s 150 “unique” life science companies employed 4,760 workers in 2020.

According to the research, there are a few more companies for the science of biovia in the nearby city of San Francisco. The city’s main life sciences cluster is located in the Mission Bay redevelopment area.

The city’s number of businesses in the area reaches 438 and employs around 17,300 people. Industry sales totaled $ 10.8 billion in 2020. Unlike Marin, which focuses the work of companies in this field on biopharmaceuticals, the industry in the San Francisco area is primarily (55%) focused on research and manufacture.

By comparison, the birthplace of Bay Area life science companies, San Mateo County, and the region’s largest group of such companies today, Santa Clara County, each generate around 40 billion dollars in revenue from the sector.

The report editors provided an overview of research on the educational level of the workforce in the region. From North Bay counties studied, Marin County, at 23%, had the highest level of people with a college or professional degree, while Sonoma and Napa counties each had 14% and Solano 10%.

In Sonoma County, around 140 companies are described as being related to the organic life science industry, employing around 5,500 workers with an average annual salary of $ 125,363. The much smaller footprint of Napa County’s organic industry has been reported in 45 companies and 720 employees with an annual salary of $ 67,449. Solano County – home to major production facilities for Gennetech – posted higher numbers – 93 companies, 4,329 employees and annual income of $ 213,500.

Uncertainty abounds for 2021, the report’s writers said, citing patent uncertainty, particularly some who have suggested the government forgo patents on COVID vaccines, which “could weaken confidence in long-term investments. term for the sector “also with price controls and regulatory restrictions or restraints on mergers.

The trade association has also clearly focused on housing and its link to hiring – a problem shared at all levels by companies. “Further significant increases in house prices in California will make expansion difficult for current businesses operating in the state and weigh on new businesses considering locating and recruiting talent in California, unless the regions move on. ‘engage in the construction of new housing. For the life sciences sector, the lack of affordable housing for middle income is a particular problem.

Despite political and regulatory uncertainties and other constraints, 2021 promises to be a solid year for California’s life sciences industry, he concluded. “The general economy, financial markets and federal funding will all help move the sector forward. The nation and the world will also increasingly look to the life sciences core in California to provide solutions to some of its most pressing environmental, medical and healthcare issues.


Leave A Reply

Your email address will not be published.