This year’s Industry Snapshot includes expanded data on biopharma employment, investment, drug pipeline, and real estate. We also feature commentary from industry leaders. 

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Industry Snapshot Highlights:

  • The biopharma R&D workforce experienced year-over-year employment growth of 8.5%, while biomanufacturing grew by 6.3%, for a total growth rate of 6.9%.
  • In the first half of 2023, Massachusetts-based companies received $3.73 billion in VC funding.
  • Massachusetts headquartered companies received 32% of all VC dollars invested in the industry.
  • Construction was completed on 6 million square feet of life sciences-specific space across Massachusetts in 2022.
  • Massachusetts’ drug development pipeline is 14.9% of the U.S. pipeline.

What they’re saying:

“MassBio’s 2023 Snapshot outlines what we have long known to be true – Massachusetts is the global epicenter of the life sciences industry. We are the home of life-changing innovation because we have recognized the unique opportunity to harness the incredible talents and resources that we have here, and back them with real investments.”

Governor Maura Healey