Office for Life Sciences- OLS numbers, which were released on December 1, 2022, and cover data till the end of the financial year in 2021, suggest strong growth in income as well as employment when it comes to the life sciences business in Wales.
The latest export figures from Wales reveal that worldwide influence is growing in Welsh life sciences. Apparently, the data up to the third quarter of 2022 shows a good amount of growth in the life sciences industry.
The chief executive of the Life Sciences Hub in Wales, Cari-Anne Quinn, said that she was pleased but not surprised to witness the latest figures that illustrate the strength of Wales’ life sciences sector. Over the past many years, according to her, the Welsh Government has proactively gone on to support the industry’s growth and also come up with an environment where businesses related to life sciences can thrive.
As confirmed by the united effort towards eradicating COVID-19, they have also seen a real embrace of the industry with all care providers, health as well as businesses working together more seamlessly than ever so as to find a solution to the actual healthcare challenges. This has indeed gone on to become a very positive thing for industry and patients alike. According to her, given the exciting developments that have been witnessed over the past year, which included large multinationals spreading their wings in Wales, there is indeed going to be an even stronger presence of life sciences in Wales in the years to come.
The minister for economy, Vaughan Gething, opined that the life sciences sector in Wales is a very important part of the economy, and the government too has been determined to aid the sector to boundlessly grow as well as thrive, and the updated results are a reflection that the support is starting to bear fruit. According to him, not only are the life sciences companies creating or giving high-quality jobs, but they are also coming up with products and services that are helping to tackle society’s problems. Life sciences are pivotal as the country continues to resurrect from the pandemic and help people live better lives.