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Future Outlook

The life sciences industry has experienced significant growth over the past decade. According to 2013 Global Life sciences Outlook, an industry report published by Deloitte, the global pharmaceuticals, biotechnology and life sciences industry generated over $1.1 trillion in 2011, which represented a compound annual growth rate of 6.7% between 2007 and 2011. Among the key industry sectors, pharmaceuticals accounted for the majority of the market revenue in 2011, earning $798 billion, while biotechnology accounted for $289 billion of the market revenue.1

The overall growth of the industry has been propelled by several global trends, including aging populations, a rise in chronic diseases, opportunities to serve emerging markets, and advancements in technology and innovation. Within the U.S., health care reform and increased government funding has also increased demand for advances in the life sciences industry.2

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