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10 Interesting Facts About the New Jersey Bioscience Industry

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New Jersey’s bioscience community has experienced significant expansion and growth in the last few years. With a combination of elite universities, top-rated teaching hospitals, leading pharmaceutical companies and R&D institutions, it is a highly sought after location for job seekers and companies alike.

The proof is in the numbers. These facts and figures demonstrate New Jersey as a thriving global hub for the life sciences sector and show how it is also contributing to the strength of the region’s economic future:

  • New Jersey is home to 17 out of the world’s 20 largest pharmaceutical leaders, contributing to its $24 billion industry.
  • It is considered 4th most innovative state in the United States, according to Bloomberg.
  • New Jersey boasts the world’s highest concentration of scientists and engineers per square mile —more than 225,000 of them statewide (126,000 life sciences/biopharma workers).
  • It is ranked in 1st place for number of chemists, and in 2nd place for number of biochemist and biophysicists.
  • Each year the state produces 22,000 life science graduates from superior higher education institutions.
  • The annual economic impact of the life science industry in New Jersey is estimated to be $30.1 billion.
  • Science and technology has always been its strong point – streptomycin, the transistor and the phonograph were all invented in New Jersey.
  • There are 1,700 life sciences businesses (biopharmaceutical, biotechnology, medical device and diagnostic companies) currently operating in New Jersey.
  • New Jersey plays host to over 380 biotechnology companies.
  • There are 13 world-class teaching hospitals and three prominent medical schools.
  • The state is positioned among the top ten for patents awarded per 1,000 employees in science and engineering.

Sources:
BioNJtalentnetwork.org
Healthcare Institute of New Jersey
ChooseNJ.com
NJ.gov
Bloomberg

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