Securing a bright future for Scotland's life sciences industry

Scotland's life sciences workforce of 37,500 people is expected to double in the next 10 to 15 years according to R&D tax experts Leyton UK.

If you're unaware of the steady growth of Scotland's life sciences industry then you're not alone.

The sector doesn't enjoy as much time in the national spotlight as produce, tourism and services but today 37,500 people are employed at 8,000 companies turning over £4.5billion.

By 2025, Leyton UK Commercial Partner James Marden expects the sector to be making close to £8.5 billion.

Leyton UK works as a partner to their clients.

"Scotland is renowned as an innovator across multiple fields," he says, adding "the same is true for life sciences."

Marden is confident the future holds "really exciting times", as long as private and public sectors continue their seamless collaboration and avoid stifling innovation.

"The most crucial point is that these companies are allowed to innovate, continue to grow and continue to build on the foundations that are already in place with them."

The big challenges facing Scotland's life sciences industry are skills, collaboration and investment.

Mark Petty, Director and Head of Strategic Alliances at Leyton UK, says: "We've got some very stretching targets in terms of investment - we're falling behind those."

Fielding potential solutions, he says: "The Government does need to increase the benefit through research and development, grant funding or Patent Box."

Leyton UK works hand-in-hand with Scotland's life sciences companies, acting as a partner to their clients.

A partnership with Leyton is bolstered by support from experts and consultants working across all sectors of the industry, says Leyton UK Manager Alison McLintock.

"Each and every consultant that works at Leyton is naturally a really curious person", she says.

"That enables us to ask really searching questions of our clients but at the right time through the process and that enables us to then maximise the value that we're then able to deliver to our clients."

To hear more about the bright future of Scotland's life sciences industry, watch the video in the player above.