Southwest Pennsylvania is Prime Destination for the Future of Human Health Innovation, New Study Reveals

Study highlights major advantages in "data-driven healthcare" and "production of next-gen precision therapeutics" 

PITTSBURGH, Oct. 17, 2024 /PRNewswire/ -- (pittsburghlifesci.org) — The Pittsburgh Life Sciences Alliance (PLSA) today released an independent analysis of the regional life sciences sector that identifies two "growth platforms" where Pittsburgh has a distinct advantage, differentiated from other global clusters: 1) Data-Driven Healthcare and Connected Devices, and 2) Next-Gen Therapeutics Development and Manufacturing. 

"When we look across peer and even more advanced markets, Pittsburgh has unparalleled capabilities in all forms of data science, AI, and computer engineering, combined with incredible depth and breadth of clinical research and delivery," said Megan Shaw, president and CEO of PLSA.  

Innovation-driven economic development experts at TEConomy Partners, LLC compiled the findings based on expansive quantitative analysis, more than 100 stakeholder interviews, and benchmarking against other major life sciences clusters.  

Data-Driven Healthcare and Connected Devices

Top-ranked academic programs in AI, cybersecurity, and computer engineering have already attracted many of the top technology brands in the world to develop a presence and partnerships in Pittsburgh. When applied to the robust data generated by the region's two largest health systems, biorepositories, over $1B in annual NIH research funding, and a well-established medical device manufacturing hub, it creates an unmatched advantage in health information and informatics, computational biology, and connected devices, according to the study. Combining digital health, smart medical devices, and bioinformatics, this segment is expected to grow nationally to represent $560B in economic activity per year by 2026, with a 17% year over average year compounding growth rate, according to data analyzed by TEConomy Partners, LLC. Companies such as Smith & Nephew, Bayer, and Zoll chose to locate global R&D facilities in the Pittsburgh region for these and other competitive advantages.  

Next-Gen Therapeutics Development and Manufacturing 

The October 2024 study discovered that advancements in AI, machine learning, and computational biology are not only digitizing healthcare and transmitting real time health data via connected devices but are also fueling the discovery of new precision therapeutics in the Pittsburgh region.   

Citing the University of Pittsburgh and Richard King Mellon Foundation-sponsored Pitt BioForge and its recent addition of ElevateBio, paired with well-established regional expertise in automation and advanced manufacturing, greater Pittsburgh could leapfrog to the forefront in manufacturing precision biologics as the world continues moving toward precision medicine. This segment — precision medicine and cell and gene therapies — is expected to reach $123B by 2028, with a 15% year-over-year growth rate according to the analysis.  

"This region offers a suite of technology and data capabilities, that when applied to the health sector, make it stand out among other global clusters," said Simon Tripp, principal and senior director at TEConomy Partners, LLC. "The ambitious investment and flagship partnership behind BioForge also presents an opportunity for the region to push to the forefront of precision therapeutics manufacturing."  

Other key findings from the quantitative analysis demonstrate how top-tier research universities Carnegie Mellon University and the University of Pittsburgh complement robust clinical testing and delivery capabilities of integrated healthcare delivery and finance entities UPMC and Highmark Health to form a unique and deep foundation of discovery and translation activities.  

Regional Increases in Capital Investment Driven by R&D 

• Local researchers published over 100,000 articles from 2018-2022 in fields such as oncology, bioinformatics, and multiple surgical specialties.
• The velocity of local VC deals in the industry is increasing. Since 2018, the number of deals grew by 70% and the amount invested has more than tripled — both increases far outpacing state and national growth rates.
• In 2023, the greater Pittsburgh life sciences industry accounted for $3.4B in economic output and more than 15,500 jobs.  

Translating Opportunity into Action 

The study's authors offered several recommendations to accelerate the two "growth platforms," supercharge the ecosystem, and improve the overall business environment for the sector in the Commonwealth. Key suggestions include: 

• Multi-sector approaches to increase the pool of growth capital in the region and attract experienced talent, including significant investment from the Commonwealth.
• Strong alignment of all regional stakeholders in support of the two growth platforms.
• Programs to align regional education and workforce programs to future industry needs and demand. 

"The greater Pittsburgh region possesses all the raw ingredients that can help us move from an emerging ecosystem to a true global hub for human health innovation," said Shaw. "This is a once-in-a-generation opportunity, and success hinges on a shared commitment by all stakeholders and decisive action by key entities and leaders. With the right investments and a coordinated strategy from government, universities, and private industry, the region can catalyze decades of job growth and wealth creation." 

Access the full report: Life Sciences Assessment and Strategic Growth Opportunities for the Pittsburgh Region

About PLSA 

Pittsburgh Life Sciences Alliance (PLSA) is a 501(c)(3) dedicated to making greater Pittsburgh a global life sciences leader and economic engine at the intersection of the region's unique clinical, research, manufacturing, and technology strengths. 

Supported by: University of Pittsburgh, Carnegie Mellon University, Henry L. Hillman Foundation, Richard King Mellon Foundation, UPMC, and Highmark Health 

With input from: LifeX, Innovation Works, BioBreakfast, Allegheny Conference on Community Development, Life Sciences PA, InnovatePGH, and members of the Strategic Advisory Committee.

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SOURCE Pittsburgh Life Sciences Alliance