The life sciences sector in Wales generated over £2.6bn in turnover for the Welsh economy, up 12.1% on the previous year, new figures reveal. Data to the end of the financial year in 2021 from the Office for Life Sciences (OLS) show that income growth of Welsh life sciences companies outperformed those in the rest of the UK.
Over 260 new businesses have launched in the Welsh life sciences sector since 2020, with the industry now employing over 12,500 people in Wales, up 1.9% a year earlier.
In terms of exports, medicinal and pharmaceutical products were among the top five exports from Wales and have a yearly value of £1.1bn The latest pharmaceutical exports were up over 30% compared to the previous year, export figures show.
