Life Science: Great Promise & Rapid Growth

INTRODUCTION

Life science has been touted as a future growth sector for the U.S. economy for decades. Where technology combines with healthcare, life science has become a broad and growing sector of the economy that encompasses everything from genetic engineering to medical device technology to pharmaceutical research and development, and much more. Over the past eight years, two sets of forces have been driving the acceleration of growth in this sector. • Demand for health services is soaring as the population ages. • The technology enabling life science has led to greater supply of new products, leading to historically high investment in this sector. Life Science is one of the fastest-growing sectors of the U.S. economy with many characteristics that appear recession-resilient.

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