In San Diego, more than 350 companies spur a US$17 billion Precision Health Ecosystem
San Diego is home to more than 350 precision health companies, 80 research institutions, 30 hospitals, and five universities. This Precision Health Ecosystem had a direct impact of US$17 billion in California, a new study shows.
The “San Diego’s Precision Health Ecosystem” study published by San Diego Regional Economic Development Corporation says this cluster supports 29,000 direct jobs and 99,000 indirect jobs in California, while the labor impact in 2017 was US$4 billion. Companies in San Diego raised US$1.3 billion on venture capital in 2018.
Large local companies like Illumina and Thermo Fisher Scientific, growing startups and small businesses like CureMatch, LunaDNA, and EpicentRX, as well as hospitals and research institutes are not only creating an important economic spill, but also helping lead the charge in precision health and enabling people to live longer, healthier lives.
“From personalized cancer vaccines to record-breaking DNA sequencing of newborns, San Diego companies and research institutes are revolutionizing healthcare as we know it,” said Kirby Brady, research director, San Diego Regional EDC. “Consistently ranked among the top five cities for startups and life sciences, as well as the number 1 region for genomics patents in the U.S., San Diego brings more to the table than its beaches – we are changing lives and curing disease from the offices and labs throughout the region.”
San Diego precision health companies hold 825 registered trademarks, and 3,610 patents. This border city is the number three life sciences market in the U.S. and the fourth place for startups.
The industry of precision health is more than genomics and pharmaceuticals; it also encompasses a wide range of related fields that allow for the collection and storage, analysis, and use of health data for more precise diagnosis of individual conditions and risk factors.
Precision health is responsible for the employment of 99,000 individuals and $30.8 billion in economic activity in the state of California.
California is home to numerous companies and research institutions that have been active on the cutting edge of precision health approaches; the industry has the potential to encompass a significant portion of medicine and become a multi-billion-dollar industry, accounting for tens of thousands of jobs in the future.
The study shows San Diego has 27 biopharmaceutical manufacturing sites, 31 medical devices and diagnostic equipment companies, 131 biotechnology research development centers, 3 medical treatment facilities, 53 health information technology sites, 65 medical labs and 91 other businesses related to this field.
Nancy Gonzalez / MexicoNow