Ohio Bioscience Growth Report 2015

bioOhio_Growth_2015

Report Spotlights the Strength of Ohio’s Bioscience Industry

The Ohio Bioscience Growth Report is published by BioOhio, the state’s bioscience membership organization, presenting facts and background to illustrate the strengths and assets of Ohio’s bioscience industry. The comprehensive scope of this report makes it an essential tool for Ohio’s bioscience business leaders, educators, and economic development professionals, and serves as a benchmark for local, state, and federal lawmakers. This report is also a valuable resource for anyone interested in learning more about bioscience.

The Ohio Bioscience Growth Report focuses on bioscience business and research occurring in Ohio and its six regions, including pharmaceuticals & therapeutics, medical device & equipment manufacturers, research & development facilities, medical laboratories, diagnostic imaging centers, digital health products & services, agricultural products, bio-based materials & fuels, and their respective infrastructures. Read descriptions of each sub-sector here.

To present findings that address the full continuum of products and services in the bioscience industry, additional analysis is provided on the Ohio bioscience supply chain, health care providers, and the state’s robust bioscience-related educational institutions.

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The Ohio Bioscience Growth Report is available to you as a free download thanks to the generous support of our members and partners. All we ask is a little information about you so that we can better understand our readership.

Tracking of investment, average wages, research funding, expansions, new company growth, and other important metrics serves as a gauge of the industry. While these figures illustrate the mechanisms behind the companies and organizations, the work being done by Ohio’s bioscience community is so much more important than any of these metrics can convey. Ohioans are curing debilitating pediatric diseases, creating less invasive surgical tools, formulating cleaner and more efficient biofuels, programming highly accurate diagnostic imaging techniques, improving provider processes to reduce patient costs, and personalizing medication delivery for individual patients.

These are just a few examples of what Ohio’s bioscience companies are doing each day across the state. BioOhio is proud to support and salute their efforts. Below are select statistics from the Report.

Today in Ohio, at least 2,391 bioscience-related organizations are manufacturing products, providing essential services, or researching the next breakthrough at 3,115 facilities around the state. This is an increase of 384 locations (14%) in the last five years.

Ranging from the large and well known such as Abbott Nutrition, Battelle, Cardinal Health, J&J, Midmark, Philips, and STERIS, to young and growing companies including Assurex Health, Cleveland HeartLab, and Minimally Invasive Devices, Ohio bioscience firms employ over 68,500 workers.

Ohio’s bioscience industry generated $4.83 billion of payroll in 2014, a 15% ($631 million) increase in the last five years. Bioscience sector jobs in Ohio paid an average wage of $70,481, encompassing a wide variety of occupations, not exclusively scientists and executives.

The bioscience industry’s economic impact is felt throughout the state, with bioscience-related companies found in 81 of 88 Ohio counties. Anchored by Cleveland and Akron, northeast Ohio led the state in the number of bioscience locations with 1,234 locations, 40% of the statewide total. The central and southwest regions followed with 624 (20%) and 580 (19%), respectively. Western Ohio is home to 313 locations, 228 in northwest Ohio, and 136 in the southeast region. In terms of employees, northeast and central Ohio are closely aligned at 32% and 29% of the statewide total.

Bioscience companies continue to expand operations and announce new facilities in the state. 360 Pharma Group, Abbott Nutrition, Alkermes, Assurex Health, AtriCure, Cardinal Health, CoverMyMeds, Enable Injections, Midmark, Quality Electrodynamics, Siemens Healthcare, and STERIS are all among the many companies that continue to expand in Ohio.

Since 2013, 155 new bioscience-related firms began operations in Ohio. These include start-up companies like Abeona Therapeutics (which recently went public on the NASDAQ), Genetesis, Cleveland Diagnostics, Eccrine Systems, MedaCheck, and Vesco Medical. Also, many existing firms such as Aprecia Pharmaceuticals, Chromocare, Beam Technologies, Aver Informatics, and Quest Medical Imaging chose to locate and grow their companies in Ohio.

Ohio organizations received $701.6 million from the National Institutes of Health (NIH) in 2015, well ahead of the U.S. average of $470.7 million. Five institutions—Case Western Reserve University, The Ohio State University, Cincinnati Children’s Hospital Medical Center, Cleveland Clinic, and University of Cincinnati—were once again among the nation’s top 100 NIH funding recipients.

Ohio companies attracted over $3.1 billion in funding in 2014, from sources including venture capital, exits, angel investors, federal grants, and state initiatives such as the Ohio Third Frontier. Significant acquisition activity propelled 2015 to record breaking levels, with over $19 billion recorded.

In 2014 Ohio bioscience and healthcare-related companies received private investment that topped $576 million, the highest level in BioOhio’s last decade of deal tracking. Current tracking of 2015 investment indicates that at least 78 companies have received combined private funding in excess of $410 million and $17.9 billion in acquisitions.

In 2014, Ohioans were issued 3,755 total patents, 895 (24%) of which were bioscience related. Ohio ranks 10th nationally in bioscience-related patents, keeping well ahead of the U.S. average of 458.

Bioscience education continues to thrive in Ohio. In 2013, 9,671 bioscience-related degrees and certificates were awarded to students in Ohio, up a full 50% since 2006. The number of schools with bio programs has also increased, from 85 in 2006 to 108 public and private schools directly impacting the industry in Ohio in 2013.

Data that provides the foundation of the Report is drawn and analyzed from a wide array of recognized industry and government sources, making this a compendium of Ohio bioscience facts and statistics. Industry trend analysis measuring employment, payroll, average wages, number of locations, number of firms, and economic impact statistics are excerpted from a commissioned study conducted quarterly for BioOhio by The University of Cincinnati Economics Center.

The 2015 Ohio Bioscience Growth Report includes analysis of industry sub-sectors not covered in previous editions; therefore direct comparisons between this report and previous publications are not valid. While past reports remain factual resources, with the added content and refined scope, we think that you will find the 2015 Report even more valuable. A detailed methodology can be found in the appendix. Visit the Ohio Bioscience Resource Directory for profiles of companies in sectors covered by this report.

Questions, comments, suggestions or contributions for future Ohio Bioscience Growth Reports may be directed to BioOhio President & CEO, John F. Lewis, Jr., jlewis@bioohio.com.

On the cover: Adare Pharmaceuticals, Assurex Health, Athersys, Battelle, BioHio Research Park, BioOhio Southwest Ohio Career Fair, ChanTest (a Charles River Company), CTI Clinical Trial and Consulting Services, Eastland-Fairfield Career & Technical Schools, Exsurco Medical, Ganeden, Hardy Diagnostics, Interplex Medical, University Hospitals, Medpace, Meridian Bioscience, NAMSA, The Research Institute at Nationwide Children’s Hospital, NIH NHLBI & BioOhio Innovation Conference, The Ohio State University OARDC & Quasar Energy Group, OhioHealth, PharmaForce, PMC Smart Solutions, SafeWhite, STERIS, University of Cincinnati, US Endoscopy, and Valtronic Technologies.