According to the HealthCare Institute of New Jersey, the Garden State is the #1 state for life science companies. From biopharmaceutical, biotechnology, medical technology, diagnostic and computer products companies, thousands of New Jersey Biotech businesses have been leading the states economy, and advancing human health for the last 135 years.
Here’s some interesting facts about the New Jersey Biotech Industry:
- 14 of the world’s 20 largest research-based biopharmaceutical companies maintain a headquarters or significant presence in New Jersey.
- 11 of the world’s 20 largest medical technology companies maintain a headquarters or significant presence in New Jersey.
- New Jersey is one of the top two states in the nation for the most facilities manufacturing FDA-approved products.
- #2 state for biotechnology strength. New Jersey’s biotechnology community has grown by more than 400 percent in less than two decades.
- #3 New Jersey/New York region rank on the Genetic Engineering & Biotechnology News (GEN) top 10 U.S. biopharma clusters list.
- #1 state for life sciences manufacturing employees.
- Highest concentration of scientists and engineers per square mile in the U.S.
- #3 state for employed biochemists and biophysicists.
- 9th ranked state for medical devices.
- Nearly 1,600 life sciences establishments operating statewide in 2019. Between 2014-19 New Jersey’s pharmaceutical sector grew by 15 percent.
New Jersey Life Sciences R&D Leadership
- #1 state for heart and stroke medicines in development.
- 49 new medications for heart disease and stroke currently are in development by New Jersey companies. No other state has produced as many of the 200 new heart disease and stroke medications now in development nationwide.
- #2 state for cancer medicines in development.
- #2 region for National Institutes of Health (NIH) funding.
- 5 medical schools.
- 43 teaching hospitals.
- Nearly 50 percent of all FDA approvals in 2017 were awarded to New Jersey companies.
- More than 7,000 bioscience-related patents were awarded to organizations with a New Jersey footprint from 2012-15, with more than 1,850 of them awarded in 2015 alone.
- New Jersey possesses one of the most highly educated workforces overall in the United States.
- 40 percent of the state’s workforce holds a bachelor’s degree or higher (4th highest share in the U.S.) with 22 percent (4th highest share in the U.S.) in STEM disciplines. 18
- 70.7 percent (more than two-thirds) of New Jersey’s life sciences workforce holds a bachelor’s degree or higher – 34.8 percent a bachelor’s degree and 35.9 percent a master’s/doctoral degree.