Report Spotlights the Strength of Ohio’s Bioscience Industry
On behalf of BioOhio, our Board of Trustees, and our members, thank you for your support and interest in Ohio’s bioscience industry. Founded in 1987, 2017 marks BioOhio’s 30th anniversary as a reliable and objective source of information concerning the successful growth of bioscience in Ohio.
Over 75,000 employees, the highest on record, work with at least 3,186 bioscience-related organizations, manufacturing products, providing essential services, or researching the next breakthrough at 3,994 facilities in Ohio, generating $5.68 billion of payroll at an average wage of $75,640.
The bioscience industry’s economic impact is felt throughout the state, with bioscience-related companies found in 81 of 88 Ohio counties. All six Ohio regions have experienced growth in the bioscience industry and play a role in advancing critical discoveries.
Ohio bioscience firms range from the large and well known such as Abbott, Battelle, Cardinal Health, Ethicon (a Johnson & Johnson company), Midmark, and STERIS, to young and growing companies including Abeona Therapeutics, AveXis, Genetesis, and Patients’ and Consumers’ Pharma.
Bioscience companies continue to expand, with over 9,000 projected new jobs and over $1 billion in capital investment announced in 2015-17. Alkermes, CoverMyMeds, ExactCare Pharmacy, IBM Watson Health, Medpace, Midmark, Nanofiber Solutions, Q Laboratories, Quality Electrodynamics, RelateCare, Sarnova, Sterigenics, and West-Ward Pharmaceuticals are all among the many companies that continue to grow in Ohio.
In the last five years, nearly 400 new bioscience-related firms began operations in Ohio. These include start-ups like Atumate, AveXis, Beyond Pulse Corp., Diasome Pharmaceuticals, Innovator Health, PriorAuthNow, RegenFix, Sujana Biotech, TearClear Technologies, Trailhead Biosystems, and Xact Medical. Also, many existing firms such as Aprecia Pharmaceuticals, Hikma Pharmaceuticals, Piping Rock Health Products, Pulse Flow Technologies, and Xellia Pharmaceuticals chose to locate their business in Ohio.
Ohio bioscience companies attracted over $2.17 billion in funding in 2016 from sources including venture capital, exits, angel investment, federal research grants, and state initiatives such as the Ohio Third Frontier. Companies received private investment worth $373 million in 2016 and tracking indicates at least $155 million invested so far in 2017. Exit activity in the state remained strong in 2016-17 with over $2 billion in acquisitions and a successful IPO by Medpace worth $173 million. Ohio bioscience research received $734 million from the National Institutes of Health in 2016.
Bioscience education continues to thrive in Ohio with 10,179 bioscience-related degrees and certificates awarded to students in Ohio in 2015 at 102 public and private schools.
Download the full report for in-depth discussion of these progress indicators and much more. BioOhio sincerely hopes you will join us in celebrating Ohio’s thriving bioscience community.
The Ohio Bioscience Growth Report, published by BioOhio, presents the strengths and assets of Ohio’s bioscience community, focusing on bioscience business and research occurring in Ohio and its six regions, including pharmaceuticals & therapeutics, medical devices, research & development, laboratories & imaging centers, digital health, agricultural biotechnology, bio-based materials & fuels, and their respective infrastructures. The report is available for download at BioOhio.com/Ohio.
The 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.
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. A full methodology is included in the Report. Visit the Ohio Bioscience Resource Directory for profiles of companies in sectors covered by this report.
Questions, comments, suggestions or contributions for future reports may be directed to the organization through the Contact Us page.
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, and Valtronic Technologies.