Report: Swedish life science is growing and increasing strongly in exports
Vinnova's latest statistics on the Swedish life science companies
Report: Swedish life science is growing and increasing strongly in exports
Go directly to the reportVinnova's follow-up of the Swedish life science sector shows a continued clear growth in the industry, which is also increasing strongly in exports. Vinnova now presents the latest statistics on Sweden's life science companies - a government assignment that began in 2021.
- Life science is an important area of strength for Sweden where the companies that these statistics describe play a decisive role, says Darja Isaksson, director general of Vinnova. I hope that the statistics can form the basis for important discussions about how we can continue to strengthen and develop Swedish life science, so that Sweden can play an important role as an innovative force internationally, for example in the introduction of precision medicine.
The report was submitted to the government on October 16 and is the second annual survey from Vinnova on the development of Swedish life science companies. In this year's report, there is also an in-depth look at deeptech. On Wednesday 23 October there is an opportunity to take part in a seminar where the latest statistics are presented. Registration link is further down the page.
I hope that the statistics can form the basis for important discussions about how we can continue to strengthen and develop Swedish life science, so that Sweden can play an important role as an innovative force internationally, for example in the introduction of precision medicine.
Strongly increased exports
Exports increased to all of the 15 largest commodity exporting countries for the Swedish life science companies.
One of the export markets that is increasing the most for Swedish life science companies is Singapore. Exports there have increased by a sky-high 2610 percent from the earliest reported interval of 2011–2014 to the interval of 2019–2022. Exports to Singapore went from SEK 0.8 billion to SEK 20.9 billion during the respective four-year period.
Caption: Swedish life science companies have multiplied their exports to, for example, Singapore over the past decade.
Swedish innovation office in Singapore
Singapore, where Swedish life science exports have thus increased to a record, is in fourth place in the UN's annual Global Innovation Index survey. Sweden ranks second in this innovation index, closely followed by the USA. This year too, the innovation index is topped by Switzerland.
It can be mentioned here that this year Vinnova has established an office in Singapore to facilitate innovation exchange between the countries. The office is staffed by an employee from Vinnova.
Industries that overlap
Medical technology is the largest industry within life science in terms of the number of companies, laboratory technology and diagnostics are the sector's smallest mapped industries. Companies in the life science sector are in many cases active in several different industries. Within, for example, laboratory technology and diagnostics, we see a large overlap with medical technology.
- The overlap between the different sectors is natural. Technologies used in medicine – everything from aids and implants to surgery, holistic health solutions and diagnostics – all belong in the medical technology sector, explains Malin Hollmark, expert in research and innovation at Swedish Medtech.
The chart above shows companies in the life science sector's industries in 2022. There is overlap because companies are classified within multiple industries. This means that the number of companies in each industry cannot be added up to a total for the sector.
The purple field in the graph above shows the type of diagnostics where samples are taken and analyzed outside the body, such as blood or tissue samples. It is a small but growing sector. Other diagnostics, such as X-ray, CT and MRI are also included in the medical technology sector.
What does deeptech mean in life science companies?
In this year's report, an in-depth analysis is made within deeptech. The intention was to explore what deeptech looks like in the life science sector.
The report shows that there are a number of companies with a high degree of deeptech among Swedish life science companies.
However, there has often been a lack of sufficient information to be able to make a safe assessment of the number. The work to identify the approximately 60 companies described in the in-depth report has largely been done manually. It turned out to be a challenge to develop an automated method to identify the deeptech companies in the life sciences.
The fact that it is difficult to categorize and identify the deeptech companies in the life science sector, I think, only shows that today we do not know which future technologies will drive the next big breakthrough in clinical care.
We see that the deeptech companies are present in all the industry categories that the main report covers, i.e. biotechnology, diagnostics, medtech, laboratory technology and pharmaceuticals. A large majority of deeptech companies have at least one founder with a PhD, and more than half have at least one founder who is a professor.
The companies often combine several different technologies to develop their deeptech innovations. These technologies include AI, synthetic biology, nanotechnology and sensor technology, to name a few.
- Many ground-breaking innovations that have changed the lives of patients worldwide have their roots in technologies developed outside healthcare - such as lasers, AI and nanotechnology - and which later found their applications in healthcare, says Malin Hollmark at Swedish Medtech.
- The fact that it is difficult to categorize and identify the deeptech companies in the life science sector, I think, only shows that today we do not know which future technologies will drive the next big breakthrough in clinical care.
Many ground-breaking innovations that have changed the lives of patients worldwide have their roots in technologies developed outside healthcare – such as lasers, AI and nanotechnology – and which later found their applications in healthcare.
Here you will find the in-depth report on deeptech in Swedish life science companies:
In-depth report on deeptech in Swedish life science companies in 2024 - Appendix 1
Deeptech is a relatively new concept in research and innovation. Therefore, Vinnova has compiled a report that describes deeptech as a phenomenon and what can distinguish a deeptech company or be included in the concept of deeptech innovation. You can find the report here:
Are you ready for deeptech - a new wave of disruptive innovations
Seminar: How are things going for Sweden's 4,000 life science companies?
On Wednesday 23 October at 13-14 there is an opportunity to participate in a seminar where SwedenBIO and Vinnova invite you to a presentation and discussion about Vinnova's latest statistics report. The seminar is a hybrid meeting where you can register to participate either digitally or physically. The number of places to participate physically is limited.
Registration for seminar: How are things going for Sweden's 4,000 life science companies?
Appendices
Here we list the appendices in the 2024 survey of Swedish life science companies.
Appendix 1: In-depth report on deeptech in Swedish life science companies 2024
Appendix 3: Short method description
for the life science business population
Appendix 4: Method description
Appendix 5: Change in Statistics Sweden's statistics
from 2022
Appendix 6: Company population in life science.pdf
Appendix 7: Newly started companies per county
Appendix 8: Number of employees per county
Appendix 9: Compilation of statistics
from the University Chancellor's Office
- Published
- 2024-October
- Series number
- Publisher
- Vinnova – Sveriges innovationsmyndighet
- Author
- Emelie Falk, Garance Legrand, Jennie Persson, Jessica Tägtström, Jonas Tranell
- ISBN
- 978-91-89905-13-9
- ISSN
- Number of pages
- 54
Last updated 17 October 2024