The Scottish Government’s refreshed Life Sciences Strategy has set out steps to build the most effective environment and skills base possible across the next 10 years to hit the ambitious target, hand in hand with the use of cutting-edge technologies.

The strategy outlines a vision for significantly boosting economic growth and healthcare outcomes by developing, manufacturing, and commercialising life sciences innovation for the benefit of the Scottish population and economy.

Launching the strategy, Business Minister Richard Lochhead said the ultimate goal was to make Scotland’s life sciences industry “the best in the world”.

The sector – which the strategy calls “a cornerstone of Scotland’s innovation economy” – currently generates approximately £10.5bn and supports over 46,000 jobs across pharmaceuticals, health technology, agritech, aquaculture, and biotechnology.

Formal NHS Scotland partner InnoScot Health believes that the £25bn target can be reached – and potentially even surpassed ahead of time as it was previously – positioning the industry to compete globally.

Executive chair of InnoScot Health, Graham Watson, said: “It is certainly a bold vision which has been outlined by the Scottish Government, but I believe it is also proportionate and achievable with the right support put in place.

“Indeed, the 2017 strategy set a goal of growing the sector’s industrial turnover to £8 billion by 2025, and that ambition was easily surpassed within half the timeframe.

“The latest data recorded from 2021 also noted a 19% increase in annual turnover for the sector which demonstrates the country’s vast potential for accelerating life sciences growth and commercialising it.

“The 2035 target is off to a good start with focused support underpinning the approach, including a £1 million government investment for stimulating growth and progressive thinking which will help to fund NHS Regional Innovation Hubs and better link business with health service expertise.

“Scotland is already recognised worldwide as a leading hub of life sciences excellence and undoubtedly has firm foundations in place to reach higher. 

“It is now time to fully realise Scotland’s potential and make that vital push to compete at the very top level – but it will require ongoing public sector investment in innovation to get there. That must be a priority if we are to become a true world leader.”

The strategy states that Scotland’s life sciences industry represents one of the country’s most productive and high growth sectors, driven by around 750 enterprises.

It insists that key to success across the next decade is “leveraging Scotland’s strengths in innovation, research, and cross-sectoral partnerships” alongside such goals as aiming to “enhance engagement between the NHS and industry”.

Mr Watson continued: “We have incredible advantages – from a tight-knit triple helix model, bringing together industry, academia, and the NHS, to a history of innovation that belies our size, not to mention a unique agility engendered by a strongly collaborative mindset.”

He added: “With this new strategy to help focus our collective resolve, and huge assets like our world-class health data, let’s set our sights on investing in nothing less than the best, both for now and 2035. Starting to build competitive advantage is critical.”