Life Sciences & Healthcare Innovation

ANOTHER SCIENTIFIC REVOLUTION

Utah is in the middle of a scientific revolution. Advances in biological sciences and computing are fueling a new wave of innovation transforming our society and economy. How we respond to this new era will dictate whether Utah becomes a frontier state pushing forward biotech advancements or falls into complacency, sticking with the herd.

Utahns have made revolutionary discoveries and innovations. Scientists at Myriad Genetics discovered the breast cancer gene, and John D. Morgan digitized health records on a mainframe computer in the back of his RV, an effort that now provides the framework for 3M’s medical coding software.

Utah is home to global leading device companies like Merit Medical, Stryker, Edwards, Varex Imaging, BD Medical, and Fresenius. Medical device manufacturers in Utah employ over 10,000 people and create devices that extend and save lives. Utah also boasts ARUP, the nation’s largest nonprofit reference laboratory, employing more than 4,000 people in a state-of-the-art facility at the University of Utah’s Research Park. Our state is also home to emerging and mature therapeutic companies seeking new medicines for diseases that plague humankind.

Utah’s life sciences industry is composed of innovators pursuing lower healthcare costs through creating life-saving devices, diagnostics, and drugs.

But the world of science and discovery is no longer siloed, and the life sciences companies of 2022 do not look like the past. Recursion Pharmaceuticals, for example, has a workforce split 50/50 between traditional scientists and computer scientists, leveraging cutting-edge computer science to provide new insights into human biology.

The future is more interdisciplinary than ever and will require educational innovation to meet new needs. Over the last two years the Utah Legislature, in an initiative led by Sen. Ann Millner, set aside millions of dollars for further investment in the education and training Uthans will need to innovate and meet the needs of tomorrow.

COVID-19 has brought healthcare to the forefront of public discussion, and Utah companies have risen to the challenge. For example, you may have taken a COVID-19 test created or manufactured in the state. More than 50 Utah companies have responded to the pandemic, developing diagnostics, performing tests, evaluating the effectiveness of personal protective equipment, or producing novel devices to help curb the spread of the virus.

Partly due to the coronavirus pandemic, Utah’s life sciences employment jumped 7.2% from 2019 to 2020, far exceeding the national average of 0.5%. As one of the fastest-growing life science sectors in the nation since 2012, this industry directly supplies 1.9% of all jobs in the state – more than double the concentration nationwide and the highest concentration of any state in the country. The earnings footprint in life sciences is disproportionately large at 3.6% of all worker earnings in Utah. Employee compensation is 46.5% above the state average, proving this is an industry where you can do well while doing good.

Our nation is experiencing a scientific revolution and Utah is well-positioned to lead in this effort. But we’re not alone. Many other states see the opportunity as well. Now’s the time to work together to strengthen our capacities and enable our businesses to unleash their creativity. Such an approach will yield tremendous benefits in the form of improved health outcomes, public safety, economic well being, and prosperity for generations to come.

Utah continues to lead the nation in the growth of this important industry, expanding access and opportunities to a sector that creates products to improve and save lives. Join the BioHive and be a part of it.