Innovation, Creativity and Enterprise in the Scottish Life Sciences Industry - Report Example

AN ANALYSIS OF INNOVATION, CREATIVITY AND ENTERPRISE IN SCOTTISH LIFE SCIENCES INDUSTRY Programme of Study: Module Submission: Word Count: 1647 Table of Contents Introduction 3 Scottish Life Sciences Industry Analysis 4 Innovation, Creativity and Enterprise in Scottish Life Sciences Industry 5 Drug Discovery 6 Stem Cell Research 6 Medical Techniques 6 Translation Medicine 7 Specialist Manufacturing 7 Contract Research Organisations 7 Bioinformatics 8 Conclusion 8 Bibliography 9 Introduction The life sciences industry of Scotland is one of the leading industries of the world. The rapid growth of the industry is associated with the innovation and creativity of the players such as research companies, skilled people, investors and Scottish government. More and more companies are attracted by Scottish life sciences industry as Scotland has become an ideal location for life sciences companies. The groundbreaking research in Scottish industry such as cloning of Dolly the Sheep is a result of high research and development in this industry. According to UK Life Sciences Marketing Strategy, there are three segments of life sciences industry including Biotechnology with $126.3 billion size (2005) and 12.8 percent annual growth (2001-2005), Pharmaceuticals with $643 billion size (2006) and 7 percent annual growth (2006) and Health Care sector with $2.15 trillion size (2006) and 6 percent annual growth (2007) (Life Sciences Scotland, 2008). In consideration to the leading position of Scottish industry in the world life sciences industry and the increasing interest of companies in Scotland, the ‘Scottish Life Sciences’ industry has been selected for analysis. In this report the role of innovative, creativity and enterprise in Scottish life sciences will be evaluated. Through industry analysis, techniques and processes, the innovation and creativity will be analysed. In this way this report will also be helpful to understand how innovative, creativity and enterprise contribute towards growth and development of an industry. Scottish Life Sciences Industry Analysis Life science industry of Scotland has established a strong name in scientific innovative for centuries and it has contributed a lot in shaping the medical developments at global level from Lister’s pioneering antiseptic surgery to stem cell technologies (Life Sciences Scotland, n.d.). Many of the Scottish life science companies have established strong name at international level. During 2008-2009, 27 more companies entered into Scottish life sciences industry. According to the statistics published by Scottish Enterprise around 600 life sciences companies are operating in Scottish lifestyle industry and around 30,500 people are working in these companies. The industry has an annual GVA Growth rate of 3 percent and industry attracts more than £400 million annually in research funding (Scottish Enterprise, n.d.). The most notable point which shows innovation and creativity of Scottish life sciences industry is that this industry is not focusing on specific segment but Scottish industry is the leader in all relevant areas of life sciences. Scottish life science has made significant research and developments in various fields including drug discovery, stem cell research, medical technologies, translational medicine, specialist manufacturing, contract research organisations and bioinformatics (Scottish Development International). A number of companies are operating in each mentioned area of life sciences and they are significantly contributing towards growth and maturity of Scottish industry. Innovation, Creativity and Enterprise in Scottish Life Sciences Industry Scottish life sciences sector plays an important role in the economic performance of knowledge-based Scottish economy. To support the sector and to improve its innovation and performance, different enterprises have been established such as Scottish Enterprise, Scottish Development International Highlands and Islands Enterprise. These enterprises are playing their role to contribute to development of Scottish life sciences sector. . These enterprises are playing a very significant role in enabling the existing and new companies to excel in innovation and creativity. For example, Scottish Enterprise has a Scottish Co-investment Fund Portfolio which has a worth of £72 million and its 2008 investments deals related to life sciences include £100,000 investment in B1 Medical Ltd, £37,500 investment in Biopta and £400,000 investment in CXR Bio-Sciences (Scottish Enterprise, 2008). In addition a positive, stable economy, innovative environment and highly talent labour force is also contributing to growth and maturity of Scottish life science sector. It is interesting to note that not only life sciences company like contract researchers, manufacturing companies, diagnostics, and pharmaceutical companies but also a number of respected institutes are also contributing to this industry. For example, the top nine universities, in which the oldest one was established in 1451, are supporting the research and innovation taking place in this industry (Nexxus Scotland, n.d.). Drug Discovery The innovation and creativity of Scottish life sciences industry is evident from drug discovery and development. Scottish industry appears as a leader in drug discovery in the world. Around 256 companies in Scotland are working in development of human healthcare products and services. Almost 115 companies are involved in drug discovery and 150 are dealing in medical technologies. The Scottish Drug Discovery Network comprises of 286 supply chain organisations and 42 drug delivery organisations (Scottish Development International, n.d.). Stem Cell Research Scottish life sciences industry is considered as a leading industry around the global in stem cell research. The cloning of Dolly the Sheep at Roslin Institute in Edinburgh is considered as the biggest invention of the last century. Today, the stem cell research companies consider Scotland as an ideal location to conduct research related to stem cells. The major stem cell research multinational companies in Scotland include Geron Corporation, CXR Biosciences, Angel Biotechnology and Invitrogen (Scottish Stem Cell Network, n.d.). These companies are making innovations in stem cell research with the support of a number of global research companies, universities and industrial technology. Through research on stem cells, Scottish researchers have also identified the regenerative abilities of stem cells through which they can be used to treat various diseases like cancer, heart problems and diabetes (New Castle Science City, n.d.). To ensure the ethical practices in this area, a supportive legislative framework has been established. Scottish Government is also encouraging and supporting the activities in stem cell research technology and it is evident from the creation of a UK Stem Cell Bank. Medical Techniques More than 150 medical technology companies are operating in life sciences industry of Scotland and they are employing more than 9500 people and operating in implants, wound care, diagnostics, instrumentation and imaging and disposables areas (Scottish Development International). The growing innovative technology in medical area has made Scottish medical sector very attractive and it has also positioned Scotland as in ideal plan in Europe and world’s medical industry. The innovation in medical techniques is also a result of significant developments in other areas of life sciences. For example, the development in the research on stem cells for all types of tissues has allowed the researchers to identify the potential therapeutic applications (Thomson Reuters, 2010). According to Scottish Cell Stem Network (n.d.) the research on stem cell is aimed to offer therapeutic benefits to the patients of sight loss, Parkinson’s, cancer, Alzheimer’s and diabetes. Translation Medicine Scotland has leading expertise in the world in the areas of Stem/Regenerative Medicine and Clinical/Translational Medicine and Scottish industry is seeking to exploit international opportunities in these two areas (The Scottish Government, 2010). The report also highlights that current strengths of Scotland in these two areas is more focused in academic sector and NHS instead of commercial operations, however, in the long run, direct commercial returns are also expected in these two areas. Specialist Manufacturing Scottish life science industry has a huge bio-manufacturing community which employs more than 4000 people around the world. More than 26 companies are operating in this industry and they include contract manufacturers, service providers and other organisations which are offering both manufacturing and services (Scottish Development International, n.d.). The significant collaborations between academic centres, government and companies have collectively contributed towards the development of the industry. Contract Research Organisations Scottish life sciences industry is offering substantial opportunities to contract research organisations as compared to anywhere else in Europe. Outsourcing research and development has become another important area for the organisations to maintain their creativity and innovation. The total spending on research and development all over the world in 2010 was $26 billion and it is growing at an annual growth rate of 16.3 percent (Scottish Development International, 2010). According to Scottish Development International (2010), more than 65 contract research organisations both Scottish-based and international are operating in Scotland and employing 2500 staff. These organisations are highly involved in developing pre-clinical techniques and drugs development. Bioinformatics The Scottish Bioinformatics Research Network comprises of Bioinformatics Research Group, Scottish Bioinformatics Forum, Scottish Crop Research and Edinburgh Centre for Bioinformatics (University of Glasgow, n.d.) and it is contributing actively to area of bioinformatics. Like other areas of life sciences, the progress and development in area of informatics has been also possible through collective efforts of highly skilled researchers, organisations and agencies. Moreover, the innovation and creativity of Scottish life sciences is not limited to the above mentioned areas only but more efforts are being made to enhance the research strengths in areas like reproductive medicine, neuroscience, cardiovascular drugs and oncology (Life Sciences Scotland, 2008). Conclusion From the analysis of Scottish life sciences industry, it can be concluded that Scottish life sciences is the leading industry in the world. The companies, skilled people and technology have enabled the industry to prove its capabilities. The collaboration between research organisations, academic institutes and Scottish government is contributing massively to further enhance the growth and innovation of this industry. The growing number of companies in Scottish industry reflects the widening opportunities in this field. The analysis of major areas of Scottish industry shows significant research and development in all areas of life sciences. Finally it has been analysed that it is the creativity of research organisations in Scottish industry which have resulted in innovation techniques in life sciences and contributed to the leading status of Scottish life sciences industry in the world. Bibliography Life Sciences Scotland, n.d. A Great Strength of the Scottish Life Sciences Community is its Commitment to Cooperation and Collaboration Across Disciplines, Organisations and Borders. [Online] Available at: http://www.lifesciencesscotland.com/lss/lss-solutions.htm [Accessed 4 November 2010]. Life Sciences Scotland, n.d. Environment. [Online] Available at: http://www.lifesciencesscotland.com/lss/lss-environment/lss-support.htm [Accessed 4 November 2010]. Life Sciences Scotland, 2008. Scottish Life Sciences Strategy. [Online] Available at: http://www.scottish-enterprise.com/your-sector/life-sciences-sector/~/media/publications/Life%20Sciences%20Sector/scottish-life-sciences-strategy-2008.ashx [Accessed 4 November 2010]. Nexxus Scotland, n.d. Life Science Present and Past. [Online] Available at: http://www.nexxusscotland.com/life_science/past_and_present [Accessed 4 November 2010]. New Castle Science City, n.d. Stem Cells and Regenerative Medicines. [Online] Available at: http://www.newcastlesciencecity.com/our-science-strengths/stem-cells-regenerative-medicine [Accessed 4 November 2010]. Scottish Development International, n.d. Life Sciences Scotland. [Online] Available at: http://www.sdi.co.uk/Key%20Industries/Life%20Sciences.aspx [Accessed 4 November 2010]. Scottish Development International, 2010. Contract Research Organisations in Scotland. [Online] Available at: http://www.sdi.co.uk/Key%20Industries/Life%20Sciences/Sectors/Contract%20Research%20Organisations.aspx [Accessed 5 November 2010]. Scottish Development International, n.d. Medical Technologies. [Online] Available at: http://www.sdi.co.uk/Key%20Industries/Life%20Sciences/Sectors/Medical%20Technologies.aspx [Accessed 4 November 2010]. Scottish Development International, n.d. Specialist Manufacturing. [Online] Available at: http://www.sdi.co.uk/Key%20Industries/Life%20Sciences/Sectors/Specialist%20Manufacturing.aspx [Accessed 5 November 2010]. Scottish Development International, n.d. Drug Discovery and Development. [Online] Available at: http://www.sdi.co.uk/Key%20Industries/Life%20Sciences/Sectors/Drug%20Discovery.aspx [Accessed 5 November 2010]. Scottish Enterprise, n.d. The Life Sciences Industry in Scotland. [Online] Available at: http://www.scottish-enterprise.com/your-sector/life-sciences-sector/lifesciences-facts.aspx [Accessed 4 November 2010]. 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