The Courier & Advertiser (Fife Edition)
Opportunity knocks
Conditions right to build life sciences sector
The economics of delivering effective human health and social care is a highly-politicised issue, both here and in the US at the moment.
Paradoxically, the challenges we face delivering affordable care to all can be attributed to advancements in healthcare and nutrition, which have radically extended human life expectancies.
Delivering healthcare to a rapidly-ageing population represents an opportunity for life sciences companies operating here in Scotland.
Conditions are right to build businesses of scale in Scotland in the life sciences sector.
Our global reputation in this area is widely recognised and well founded, given our long list of world firsts.
The recent Scottish Governmentbacked life sciences strategy for Scotland sets aggressive targets for the growth of the sector in terms of the number of companies and levels of employment.
The UK’s new industrial strategy also calls out life sciences as a sector that’s already strong in the UK, and is likely to benefit from additional government intervention.
Both the UK and Scottish governments want to grow the sector in Scotland, but we’re not starting from scratch – we already have a strong industrial base that supports thousands of high-value jobs across the country.
There are a broad range of businesses and organisations based in Scotland operating right across the life sciences sector.
We have a full range of companies working in early stage drug discovery and biological agents, we have a strong chemical and pharmaceutical manufacturing sector and a range of large contract research organisations who work as outsourcers to the large global pharmaceutical companies bringing valuable work to Scotland.
The medical devices and digital health sectors are also strong in Scotland and we’re lucky to have a number of credible device manufacturers active here.
Animal health, food safety and the challenge of feeding the population in a sustainable way are also areas in which companies in Scotland are innovating.
If we can grow bigger life sciences companies in Scotland, then the supply chain and support ecosystem will have a positive impact on more than just the people directly employed in the sector.
In Scotland, we have a few unique opportunities to drive forward joined-up healthcare improvements.
Almost all care in Scotland is delivered through the NHS and the patients’ outcomes data is captured and indexed by a single, personalised identifier.
This means researchers can analyse long-term trends and measure the effectiveness of new healthcare and social care innovation over many years.
By working with the NHS in Scotland, industry can harness this information to prove the value of their drug or treatment or the validity of using a particular diagnostic tool or process.
This proof can then be used by the company to take their innovation to other global markets.
The approach from the leadership of the NHS in Scotland is particularly refreshing and very encouraging.
There are mechanisms like the Health Innovation Partnership that allow companies with technology solutions to connect directly to clinicians with real problems.
By working together, industry and clinicians can help hone the technology to more specifically meet the needs of the NHS in Scotland and hence deliver significant value. The companies benefit by having a product that’s a better fit and is easier to sell.
Also, what could be more rewarding for an employee in this sector than to have the chance to see and understand how their inventions can help the health and wellbeing of the population as a whole?
There are definitely challenges ahead though. Many people talk of a skills shortage in certain sectors and the life sciences sector has been affected by this, but various different agencies and organisations are already working on this issue.
In the future new opportunities are likely to exist in the areas of convergence, for example, bioinformatics or digital health are emerging market sectors that link innovations in healthcare with technology. This trend is particularly exciting for Scottish cities like Dundee which has recognised strengths in both areas.
If we can work together to navigate the healthcare challenges ahead, then we’re sure to be able to build life sciences companies of scale in Scotland who will deliver substantial benefits to employees in the sector and to the health and social care system in Scotland.