Report: Swedish life science a health-promoting growth engine

– Life science is a strategic growth engine for Sweden, with crucial importance for both health, exports and technological development. By following the sector's development, Vinnova contributes to strengthening Sweden's innovative power and future competitiveness in a changing world, says Darja Isaksson, Vinnova's director general.

Life science is growing throughout Sweden

The life science sector is largest in Stockholm and Skåne, but is represented throughout Sweden

Statistics show a strong growth in the number of companies in the sector over the past thirteen years. A large part of the sector consists of small and medium-sized companies. Most are located in Stockholm and Skåne, but the sector is represented throughout the country.

Life science is a growing sector with new companies constantly emerging. Many of the new companies are small businesses, but the proportion of large companies is also growing.

Statistics develop the industry

The report was submitted to the government on October 16 and is the third annual survey from Vinnova on the development of Swedish life science companies.

The report is based on official statistics and industry data that together provide a comprehensive picture of Swedish life science companies. The work has been carried out in dialogue with a reference group consisting of representatives from industry organizations.

– The report from Vinnova is something we look forward to because it constitutes an important follow-up of goals that shows how Sweden is delivering on the strategy that the government has established, and thus gives us an opportunity to adjust our activities to ensure Sweden's position as a leading life science nation in the world. The report also serves as a valuable basis for all organizations, including Business Sweden, that work to promote investments and collaborations with international actors. Through the report's data, we can draw well-founded conclusions and jointly describe Sweden's successful life science environment with a unified voice, says Mattias Gäreskog, Invest Lead at Life Science at Business Sweden.

The sector includes research, higher education and innovation, development of pharmaceuticals, medical devices and treatments, as well as prevention, implementation and follow-up within five different industries: biotechnology, diagnostics, in vitro and in vivo, laboratory technology, pharmaceuticals and medical technology.

Life science attracts foreign talent to Sweden and the number of foreign-born people in the industry is steadily increasing.

Strengthened gender equality and higher education

The number of employees in the sector has increased steadily since 2017 and gender equality, both as employees and in leadership positions, has been strengthened. It is also an industry with a high level of education, with around 10 percent of those working in the sector having a postgraduate degree. The life science sector attracts foreign talent to Sweden and the number of foreign-born people is increasing steadily but is slightly below the national average in the entire working population.

Since 2015, the life science sector has been a growing employer.

Gender equality in management positions within companies has been strengthened since 2019. The number of women on boards is also growing, although at a slower pace.

The proportion of women in leading life science positions is 46.3 percent - compared to 32.8 percent in other industries.

– It is pleasing that this year's report, in addition to the continued increase in net sales in the sector, also shows progress in gender equality. The number of women and men working in the sector is now equal, and the proportion of women in senior positions has increased to 46.3 percent, a clear improvement compared to the average for other Swedish limited companies, which is 32.8 percent, continues Mattias.

The life science sector has strong economic development and the industry's turnover continues to grow.

Life science needs investment capital

In 2024, total Swedish and foreign investments from venture capital funds in unlisted Swedish life science companies amounted to SEK 600 million. This corresponds to approximately 0.7 percent of the total invested venture capital during the year. A majority of this capital was directed to companies operating in medical technology, pharmaceuticals, biotechnology and diagnostics.

– The report points to a challenge. In 2024, investments from venture capital funds in unlisted life science companies amounted to only 0.7 percent of the total invested venture capital during the year. Although these figures should be interpreted with some caution, and that to some extent there are relevant explanations for the low levels, it is clear that Sweden needs to work more purposefully to increase the inflow of investment capital to the life science sector and, in the long run, realize the innovations expected of the world's second most innovative country, says Mattias.

Appendices to this year's life science report

Life_science_2025_Appendix1.pdf

Life_science_2025_Appendix2.pdf

Life_science_2025_Appendix3.pdf

Life_science_2025_Appendix4.pdf

Life_science_2025_Appendix5.pdf

Life_science_2025_Appendix6.pdf

Life_science_2025_Appendix7.pdf

Life_science_2025_Appendix8.pdf

Data behind the graphs

Please note that it is possible to request additional information about the companies in the population or the data points behind the graphs by contacting: vinnova@vinnova.se