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It is estimated by the Association of the British Pharmaceutical Industry that by 2025 the Life Sciences industry could bring in an additional £14 billion a year to the UK economy. The ABPI also forecast that an extra 65,000 jobs could be created due to the highly innovative industry that Life Sciences is.

The growth of the industry is reliant upon Government backing and the ABPI is putting pressure on the government to reach its target of 2.4% of GDP to be spent on research and development by 2027. Another necessity for growth is the need of a highly skilled workforce and so to ensure continued development the industry must attract the best talent as the UK leaves the EU.

The Chief Executive of ABPI, Mike Thompson commented on the figures exposed from their analysis saying that they “give an insight into the exciting potential for growth in our already world-leading sector” and goes on to mention that the growth of the industry would have a positive impact across the whole of the UK.

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