Overview of the Life Sciences Industry in Texas

Overview of the Life Sciences Industry in Texas

Waterloo Research and Consulting recently had the opportunity to write a report on the state of the life sciences industry in Texas. Working through Texas Insight, WRC provided the research, analysis, and writing for The Texas Life Sciences Landscape: Innovating for Today and Tomorrow, commissioned by the Texas Healthcare and Bioscience Institute.

What follows is the introduction to the report…

Introduction

The life sciences industry in Texas includes thousands of private firms employing tens of thousands of workers, dozens of world-class research universities and institutions with an increasing expertise in commercialization and technology transfer, a burgeoning life sciences investment ecosystem, significant state support programs, a growing network of economic development organizations focused on the life sciences, and the largest medical complex in the world. Definitions vary, but for the purposes of this report, companies are considered to be in the life sciences industry if they develop products relating to the diagnosis and treatment of disease and injury, or perform research intended to lead to such products. Biotechnology, pharmaceutical and medical device companies are some of the main types of entities that comprise the Texas Life Sciences Industry.

While the life sciences industry in Texas is robust, there are still major opportunities to advance and make it even stronger and more competitive with major life sciences hubs like Boston and San Francisco. Regional initiatives have been established in all of Texas’ major urban areas focused on establishing life sciences clusters, which have been shown to drive significant economic development. The life sciences industry promises to grow in its vibrancy in the coming decades and Texas is poised to become, as State Comptroller Glenn Hegar and others have suggested, the “Third Coast” for the life sciences, but there are some discrete steps that will need to be taken to get there…

Read the full report

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